Sometimes, local deals have the best offers. This goes true for the certificates of deposit offers from El Paso Area Federal Credit Union. Let’s take a look at what they offer.

About the Rates

TFCU has three different kinds of share certificates – the regular, the jumbo, and the Save-a-Lot. Both the regular and jumbo CD offers have fixed terms which allow your investment to grow over the maturity period with the current interest rate being offered today. The Save-a-Lot offer is great for those who are just starting out with a small amount of investment. You get to open a one-year CD and earn interest every three months. What’s more, minimum deposits of $10 are allowed regularly, so you can still maintain your account at the lowest possible amount ever.

Another great offer by TFCU comes when you open Rate Plus Certificates of 18 or 30-month periods. Once you sign up for either account, you start gaining interest based on the current rate. However, during the course of its maturity, you can choose to increase the dividend rate once. This allows you take advantage of a higher rate if ever a time should occur.

For the Regular certificates, the rates are as follows:

Term – APY
91 days – 0.45%
6 months – 0.75%
12 months – 1.21%
18 months – 1.36%
24 months – 1.36%
30 months – 2.27%
36 months – 2.27%
48 months – 2.27%
60 months – 2.88%

As for the Save-a-Lot account, the APR and APY are fixed at 1.20% and 1.21% respectively.

Below are the rates for the Jumbo Certificate accounts:

Term – APY
6 months – 0.85%
12 months – 1.31%
18 months – 1.46%
24 months – 1.46%
30 months – 2.37%
36 months – 2.37%
48 months – 2.37%
60 months – 2.98%

The dividends for all accounts are paid upon maturity. The initial deposit required for a regular 91-day and 6-month term is $2,500. As mentioned, the minimum deposit for the Save-a-Lot account is only $25, while the rest of the regular accounts are fixed at $500. All Jumbo certificates require an initial deposit of $50,00.

These rates all offer a great way for you to save up on your next family vacation or a new car. Whatever it is, you can be sure that opening a CD account under El Paso TFCU provides you higher returns than most companies today.

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