State Department Federal Credit Union Certificates
APY Range
Minimum Deposit
Terms
Our Rating
State Department Federal Credit Union Certificates
APY Range
Minimum Deposit
Terms
Our Rating
State Department Certificates (CDs) Rates
For each term, there are two distinct rates depending on your minimum deposit amount. If you deposit at least $500 but up to $100K, you will receive a lower rate, but if you deposit more than $100K, you can receive higher rates based on the amount you deposit.
For terms like 1-year and 2-year CD, the State Department Federal Credit Union offers average-high rates. However, for other terms such as 6-month, 4-year and 5-year CD, the rates are among the high-yield CDs in the market, as of September 2023.
Term | APY |
|---|---|
6 Months | 4.19% / 4.40% |
12 Months | 5.09% / 5.30% |
24 Months | 4.52% / 4.73% |
36 Months | 4.27% / 4.47% |
48 Months | 4.27% / 4.47% |
60 Months | 4.27% / 4.47% |
How Do SDFCU Certificates Stack Up Against The Competition?
As we can see in the table below, the State Department Federal Credit Union offers less diversity when it comes to terms and offers fewer options compared to other credit unions CDs.
However, the rates, especially for the longer terms such as 4-year and 5-year CD, offer decent rates compared to other credit unions and give investors the opportunity to lock the rate or a significant period of time.
Credit Union | CD Range | Minimum Deposit |
|---|---|---|
2.00% – 4.35% | $1,000 | |
4.30% – 5.20% | $1,000 | |
3.51% – 4.85% | $5,000 | |
0.50% – 5.37% | $250 | |
4.00% – 5.50% | $1,000 | |
2.25% – 5.00% | $50 | |
4.30% – 5.55% | $10,000 | |
0.10% – 5.25% | $500 | |
3.30% – 4.80% | $1,000 | |
0.40% | $1,000 |
Is It Competitive Rates Compared to Banks?
When compared to traditional banks like TD Bank, U.S.Bank, and Bank of America, State Department Federal Credit Union's certificate rates are highly competitive across nearly all CD terms.
Although some top rated online banks may offer higher rates for specific terms, SDFCU remains competitive in this area as well, making it a top choice for individuals seeking favorable rates to keep their money, as of September 2023.
CD APY Range | Minimum Deposit | |
|---|---|---|
Marcus | 3.70% – 5.10% | $500 |
Barclays Bank | 4.45% – 5.15% | $0 |
PNC Bank | 0.01% – 4.80% | $1 |
U.S. Bank | 0.05% – 4.90% | $500 |
Capital One | 4.10% – 5.25% | $0 |
Chase Bank | 3.00% – 5.00% | $1,000 |
Discover Bank | 2.00% – 5.00% | $2,500 |
CIT Bank | 0.30% – 5.00% | $1,000 |
Ally Bank | 3.00% – 5.15% | $0 |
Citi Bank | 0.05% – 4.90% | $500 |
Bank Of America | 0.03% – 5.00% | $1,000 |
Vanguard | 4.50% – 5.75% | $1,000 |
BMO Harris | 0.05% – 4.50% | $1,000 |
Wells Fargo | 1.49% – 5.26% | $2,500 |
Synchrony Bank | 2.25% – 5.15% | $0 |
TD Bank | 1.00% – 5.50% | $250 |
LendingClub | 5.50% | $2,500 |
Can You Join State Department Federal Credit Union?
Here are the eligibility criteria for joining the State Department Federal Credit Union (SDFCU):
Department of State Employees and on-site contractors of the Department of State are eligible to join.
Family & Household: Spouses, parents, children, siblings, grandchildren, stepparents, stepchildren, step-siblings, and adoptive relationships are eligible. Persons living in the same residence maintaining a single economic unit are also eligible.
Organizational Affiliates: Members of SDFCU's associations, organizations, or company partners may qualify. A list of affiliates/Select Employee Groups is available on the SDFCU website.
ACC: American Consumer Council members may be eligible to join SDFCU. Applicants will need to choose ACC on their application when opening their account.
About State Department Federal Credit Union
State Department Federal Credit Union (SDFCU) is a not-for-profit financial institution that serves individuals who work for the U.S. Department of State, USAID, and other select organizations, as well as their immediate family members. The credit union was founded in 1935 and is headquartered in Alexandria, Virginia.
SDFCU offers a wide range of financial products and services to its members, including checking accounts, savings accounts, certificates of deposit, credit cards, loans (auto loans, personal loans, and home loans), and online banking services. The credit union also provides investment services, retirement planning, insurance products, and financial education resources to its members.
The credit union is also a member of the CO-OP ATM and Shared Branching networks, which provides members with access to over 30,000 fee-free ATMs and over 5,000 shared branches across the country.
FAQs
Can you open a CD online?
Yes, State Department Federal Credit Union offers the ability to open a CD online. This can be a convenient option for those who do not live near a branch location.
Can you designate a beneficiary for a CD?
Yes, you can designate a beneficiary for a CD so that the money is transferred to them upon your death.
What are the risks of a certificate of deposit?
One risk of a CD is that if you need to withdraw your money before the end of the term, you may have to pay an early withdrawal penalty. Additionally, because the interest rate is fixed, you may miss out on potential gains if interest rates rise during the term of the CD.
Can you lose money on a certificate of deposit?
As long as your deposit is within the FDIC insurance limits, you will not lose your principal investment. However, if you withdraw your money early and are subject to an early withdrawal penalty, you may receive less than your initial deposit.
