Premier Members Credit Union Certificates
APY Range
Minimum Deposit
Terms
Our Rating
Premier Members Credit Union Certificates
APY Range
Minimum Deposit
Terms
Our Rating
Premier Members Certificates (CDs) Rates
Premier Members Credit Union offers average rates on most CD terms. The rates are not among the best CD rates in the market unless you put your money on 10 month CD.
The terms are varied, betweeb 6 months – 5 years and a minimum deposit of $500 / $100,000. CDs require a minimum deposit of $100,000, and this is the difference in rates between regular and jumbo CDs.
Term | APY |
|---|---|
6 Months | 3.50% |
10 Months | 5.25% |
12 Months | 4.00% |
18 Months | 3.00% |
24 Months | 3.00% |
36 Months | 3.00% |
48 Months | 3.00% |
60 Months | 3.00% |
How Are The Certificate Rates Compared To Other Credit Unions?
Compared to other credit unions, Premier Members offers average and even a bit lower rates compared to other credit unions. The only term where you can get higher rate compared to others is 10-month CD, which is a special CD and offers 5.25% APY.
However, other terms such as 1-year CD up to 5-year CD, the rates are lower compared to other credit unions such as PenFed Credit Union or Bethpage Federal Credit Union.
Credit Union | CD Range | Minimum Deposit |
|---|---|---|
2.00% – 4.35% | $1,000 | |
5.10% – 4.98% | $1,000 | |
3.51% – 4.85% | $5,000 | |
0.50% – 5.00% | $250 | |
4.00% – 5.30% | $1,000 | |
2.25% – 5.00% | $50 | |
4.25% – 5.35% | $10,000 | |
0.30% – 5.00% | $500 | |
3.31% – 4.80% | $1,000 | |
4.85% | $1,000 |
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Is It Competitive Rates Compared to Banks?
In comparison to traditional banks like Bank Of America, PNC Bank, or Chase, Premier Members Credit Union offers higher rates for most CD terms.
However, when compared to online banks like Marcus, Ally, or Synchrony Bank, Premier Members Credit Union's rates for most CD terms are lower.
CD APY Range | Minimum Deposit | |
|---|---|---|
Marcus | 3.90% – 5.15% | $500 |
PNC Bank | 5.15% | $1 |
Sallie Mae | 5.10% – 5.20% | $2,500 |
Capital One | 3.90% – 5.00% | $0 |
Chase Bank | 3.00% – 4.75% | $1,000 |
Discover Bank | 2.00% – 5.10% | $2,500 |
CIT Bank | 0.30% – 3.50% | $1,000 |
Ally Bank | 3.00% – 4.85% | $0 |
Citi Bank | 0.05% – 4.65% | $500 |
BMO Harris | 0.05% – 4.50% | $1,000 |
Wells Fargo | 4.24%- 4.75% | $2,500 |
Synchrony Bank | UP TO 5.15 % | $0 |
Citizen Bank | 2.75% – 5.25% | $1,000 |
TD Bank | 1.00% – 5.00% | $250 |
LendingClub | 4.00% – 5.20% | $2,500 |
Can You Join Premier Member Credit Union?
There are a few ways to join Premier Members Credit Union (PMCU).
- Become a member of a participating organization. PMCU has partnerships with a number of organizations, including schools, businesses, and unions. If you are a member of one of these organizations, you can join PMCU at no cost.
- Live, work, or worship in the PMCU service area. PMCU's service area includes the following counties in Colorado: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson, Larimer, and Weld. If you live, work, or worship in this area, you can join PMCU for a one-time fee of $5.
- Become a family member of a current PMCU member. If you are the spouse, child, or parent of a current PMCU member, you can join PMCU for free.
Once you have met the membership requirements, you can apply for membership online or at any PMCU branch.
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Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
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About Premier Members Credit Union
Premier Members Credit Union is a not-for-profit financial institution that provides banking services to individuals and businesses in Colorado. The credit union was founded in 1950 and is headquartered in Boulder, Colorado.
Premier Members Credit Union offers a range of financial products and services, including checking accounts, savings accounts, certificates of deposit, credit cards, auto loans, personal loans, mortgages, and investment services. Members can also access online banking services, mobile banking, and financial education resources. The credit union also provides personalized financial coaching to help members achieve their financial goals.
Premier Members Credit Union is owned and governed by its members, and all profits are returned to members in the form of lower loan rates, higher savings rates, and better services. Members also have access to shared branches and over 30,000 fee-free ATMs nationwide.
FAQs
Are there any tax advantages to investing in a CD?
Interest earned on a CD is generally taxable as ordinary income. However, if you hold the CD in a tax-advantaged account such as an IRA, you may be able to defer taxes on the interest earned.
Can you have multiple CDs at Premier Members credit union?
Yes, you can have multiple CDs at the same bank or credit union.
Can you transfer a CD to another or credit union?
No, you cannot transfer a CD to another bank or credit union. You would need to withdraw the money and open a new CD at the other institution.
What is a callable CD?
A callable CD is a type of CD that can be called back by the bank or credit union before it matures. This allows the institution to take advantage of falling interest rates.
Related Posts
How We Rate Certificates of Deposits: Our Methodology
The Smart Investor team has thoroughly examined certificate of deposit (CD) offerings from various banks, considering multiple factors to provide a comprehensive evaluation. Here's how we rated them across four key categories:
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CD Rates (50%): We meticulously analyzed the interest rates offered by each bank on their certificate of deposit (CD) products. Higher ratings were awarded to banks offering competitive rates that provide maximum returns for customers' investments. Factors such as the yield curve, current market conditions, and consistency of rates were considered to assess the attractiveness of each bank's CD rates.
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CD Features (30%): This category evaluated the features associated with each bank's certificate of deposit offerings. Factors considered include the variety of terms available, early withdrawal penalties, minimum deposit requirements, and any additional features or benefits. Higher ratings were given to banks offering a diverse range of CD terms, reasonable early withdrawal fees, and flexible options to meet customers' investment needs.
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Customer Experience (10%): A positive customer experience is paramount, even when investing in CDs. We assessed each bank's performance in this area, considering factors such as the ease of opening a CD account, the responsiveness of customer service, and overall user satisfaction. Higher ratings were assigned to banks with efficient account opening processes, helpful customer support, and a track record of satisfying customers.
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Bank Reputation (10%): The reputation of a bank is a critical consideration when investing in CDs. We evaluated each bank's reputation based on factors such as financial stability, regulatory compliance, and public perception. Higher ratings were given to banks with a solid reputation for reliability and trustworthiness, ensuring customers' investments are safe and secure.
By considering these categories and assigning appropriate weights to each, our review aims to provide valuable insights to help individuals make informed decisions when investing in certificate of deposits.
