1st United CU (CA) 24-month CD Has Bump-Up And Add-On Options


Deal Summary: 24-month Fixed Share Certificate, 2.00% APY, $1k minimum, one bump-up; additional deposits at any time.

Availability: Residents of Alameda, Contra Costa, Kings, San Joaquin, Solano, Stanislaus Counties, California; Employees of 20 SEGs, including several state and local government agencies.

Last month, 1st United Credit Union (1st United) raised the rate on its 24-month Fixed Share Certificate (2.00% APY) by an impressive 90 bps. This is the highest APY in the Share Certificate’s 18-month history. The minimum deposit is $1, with no stated balance cap.

1.25%$1k-1st United Credit Union24 Month Fixed Share Certificate
Accounts mentioned in this post. Rates as of September 25, 2017.

In addition to offering a good rate, the 24-month Fixed Share Certificate has two options that increase its intrinsic value. The fine print on the Deposit Rates page states:

If we advertise a higher rate on certificates of this type you can make a one-time request during your certificates term to move up to the new rate.

You may add funds to the balance of this certificate at any time.

As stated in the Member Account Agreement and Disclosure document, the Early Withdrawal Penalty reads as follows:

If the term is 13 months or longer, the dividend penalty will be the lesser
of the dividends earned or 180 days dividends on the amount withdrawn.

Thanks to DA reader, Carpline, for his Forum post about 1st United latest offering.


Since I last wrote about the Credit Union, there have been two significant changes: a re-brand and an expansion in the field of membership (FOM). Formerly known as 1st United Services Credit Union, the new name is 1st United Credit Union.

Residency: Four California counties have been added to the FOM, and now individuals who live, work, or attend school in Alameda, Contra Costa, Kings, San Joaquin, Solano, or Stanislaus County are eligible to join.

Employment: Employees of 20 SEGs (includes state and local government organizations) also qualify for membership.

Relationship: Immediate family members of current members, related by blood or marriage, are eligible for membership.

Joining 1st United and/or opening a Fixed Share Certificate can be done online, or by visiting any of ten California branches located in Alameda, Berkeley, Castro Valley, Fremont, Hayward, Oakland (2), Pleasanton, San Leandro, and Union City.

Credit Union Overview

1st United Credit Union has an overall health grade of "A" at EpBooks.us, with a Texas Ratio of 2.15% (excellent) based on December 31, 2016 data. In the past year, 1st United has increased its total non-brokered deposits by $74.55 million, an excellent annual growth rate of 9.73%. Please refer to our financial overview of 1st United Credit Union (NCUA Certificate # 63958) for more details.

Founded in 1932 as City & County Employees' Credit Union, 1st United Credit Union was one of the first credit unions in the State of California formed for the benefit of state and local government employees. The original field of membership (FOM) included Alameda County employees but was expanded to include employees of city and county hospitals and schools. Following a merger in 1996 with ALFA Federal Credit Union, the Credit Union's name was changed to better reflect the FOM. 1st United Credit Union became a community chartered credit union in 2001 and today has more than 53,700 members and assets in excess of $936 million.

How the Fixed Share Certificate Compares

When compared to the 244 similar length-of-term CDs tracked by EpBooks.us, that require a similar minimum deposit and are available within the FOM, 1st United Credit Union's 24-Month Fixed Share Certificate APY currently ranks first.

These rates are accurate as of 5/8/2017.

To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table, or our Rates Map page.

Related Pages: San Francisco Bay CD rates, 5-year CD rates

Anonymous | | Comment #1
I'm going to go for this one! 2yr, 2.% CD with a bump-up option & add on deposits at any time. Looks like the best going at this time.
Anonymous | | Comment #7
I filled out the online app 5/8/17. Received e-mail 5/10/17, requested DL & Utility Bill verification. Faxed requested forms same day. Received Acct # 5/11/17. I plan to snail mail a check to open 2 yr, 2% CD tomorrow. Ordinarily I would do an ACH transfer of funds, but the acct just got opened today. An ACH transfer takes time for the small deposits, so mailing a check will take less time.
Anonymous | | Comment #8
My acct was opened 5/8/17. The $10K was deposited right away by ACH. As I said earlier decided to snail mail a large check to be deposited into the 2yr 2% CD. I mailed the check on Friday 5/12, expecting the mail to arrive in a couple days (I live about 40 miles from the Pleasanton CU). Check didn't get deposited until the following Thursday. Unbelievable! So a lesson learned, next time I'll send checks by overnite delivery.
Bozo | | Comment #2
As Jack Bogle has said, it's the "terrible two's". You can pick a 2% CD, choose 2% inflation, select 2% dividend, or opt for 2% growth.
Bozo | | Comment #3
Funny (but true) story. Every six months or so, I give my wife a financial snap-shot of our net worth. I'm a bit tardy, so this morning she asked me for an update. I suggested she just use the last snap-shot, and multiply by 1.04. As we used to say "close enough for government work" (Navy veterans will appreciate). Old Navy joke. Another Navy joke. When the Vietnam War was needing naval gunfire support, some folks decided those old moth-balled battleships were the answer. Problem being, the folks still alive who knew how to fire the guns were, shall we say, a bit too portly to descend into the gun mounts. A 44 inch waist does not fit into a New Jersey-class gun mount.
Anonymous | | Comment #4
Yes, terrible two's. But, if not for 2yr, 2% CD, I guess we can't stay "above water". The only thing I see is a Savings of 1.25% & that could change anytime, (maybe lower) ;)
Bozo | | Comment #5
A two year 2% CD does tread water. Of that I will agree. In the Navy, we used to call it "drown-proofing".
Anonymous | | Comment #6
Finally a worthy 2yr, 2% CD that will work for folks on the West Coast.
1st United Services CU (CA) Has Competitive 36-Month CD
Availability: Residents of Alameda and Contra Costa Counties, California; employees of SEGs, including several State and Local Government agencies.

1st United Services Credit Union (1st USCU) is offering a 36-month Fixed Share Certificate (2.00% APY). The minimum deposit is $1K, with no balance cap.

The 36-month Fixed Share Certificate is also offered as an IRA (Traditional and Roth) that earns a slighter higher APY of 2.10%, with the same opening deposit of $1K.

The fine print on the CU’s Deposit Rates page lists two advantageous conditions:

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The bump feature allows you to make one request to bump up the rate during the term to the new advertised rate. It probably won't be useful for the next year or two. Nevertheless, a 4% APY is competitive now for a 48-month term regardless.

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