New Jersey’s XCEL Federal Credit Union is now offering two competitive, limited-time CD Specials: an 18-month at 5.45% APY and a 24-month at 5.25% APY.
Both options require a minimum deposit of $500 of new money and are available nationwide through an online application.
Key Features
- APYs:
- 18-month CD Special: 5.45%
- 24-month CD Special: 5.25%
- Minimum Deposit: $500
- New Money: Funds must be new to XCEL, not previously on deposit within the last 30 days.
Rates last updated 12/31/2023
Account Details
- Account Types: Available as standard CDs and IRA CD Specials (Traditional and Roth) with the same APYs and deposit requirements.
- Early Withdrawal Penalty: 180 days of dividends for certificates with original maturities of 12 months or longer. Note that principal withdrawal is at XCEL FCU’s discretion.
Availability and Membership
- Nationwide: Offered to U.S. citizens or resident aliens with a valid Social Security number.
- Easy Membership: Joining through various associations or organizations like the Ocean Running Club or the Antique Automobile Club of America qualifies for XCEL membership.
- Other Paths: Employment in certain companies or affiliation with specific organizations also provides eligibility.
Opening and Funding
- Online Application: These CD specials must be opened online, with initial funding through Plaid limited to $10 million.
- Withdrawals: Up to six fee-free monthly withdrawals permitted; each additional withdrawal incurs a $5 fee.
Bank Overview
XCEL Federal Credit Union is a member-owned financial institution based in New Jersey, serving members across the United States with a variety of financial products and services.
Established in 1964 by employees of the Port Authority of New York and New Jersey, XCEL has expanded its membership eligibility to include a broad audience through easy membership requirements.
Comparative Analysis
When compared to similar term CDs nationwide, XCEL’s offerings are quite competitive, particularly in the current rate environment. Both the 18-month and 24-month CD Specials stand out for their high APYs and relatively low minimum deposit requirement.
Compare with the rates below. You can find the best CD offers here.
Our Take
XCEL Federal Credit Union’s limited-time CD specials offer compelling rates, especially for those looking for short to medium-term investments.
With the ease of online application and nationwide availability, these CD Specials are an attractive option for savers across the U.S. looking to lock in competitive rates.
See more from Xcel FCU:
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