Police and Fire Federal Credit Union (PFFCU) reduced its CD rates in January, but its long-term CD and IRA CD rates continue to be very competitive. The best is its 5-year CD which has a 3.00% APY. Other competitive rates include a 2.50% APY 4-year CD and a 2.00% APY 3-year CD. Minimum deposit is $500. These rates are listed in the credit union’s rates page.

As a comparison to internet banks, the best 5-year CD rate is 2.75% APY at Salem Five Direct and the best 3-year CD rate is 2.00% APY at One West Bank. For credit unions with easy membership, the best 5-year CD rate is 2.93% APY at Melrose Credit Union and the best 3-year CD rate is 2.25% APY at Fort Knox FCU.

The early withdrawal penalty is worse than average with up to 360 days of dividends for terms of 30 months to 5 years. The early withdrawal penalties and other CD details are listed in the credit union’s truth in savings disclosure.

To qualify for membership at PFFCU, you have to belong to one of the credit union’s member groups. One group on the list is Weavers Way Cooperative Association which is open to anyone. However, PFFCU placed an additional requirement during the summer. Weavers Way members must also be a resident of Pennsylvania. Please refer to the credit union’s membership eligibility page for the full details.

Branches are located in Philadelphia and its suburbs.

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