Xcel Federal Credit Union provides attractive interest rates on their short term an long term certificate of deposit. Their CD accounts are tiered starting from regular CD, Silver CD, Gold CD, and Platinum CD. Here are the current certificate of deposit rates:

Regular CD ($500 to $19,999)

• 3 months        0.80% APY
• 6 months        0.80% APY
• 12 months      1.00% APY
• 24 months      1.25% APY
• 36 months      1.75% APY
• 48 months      2.40% APY
• 60 months      2.60% APY

Silver CD ($20,000 to $99,999)

• 3 months        0.85% APY
• 6 months        0.85% APY
• 12 months      1.05% APY
• 24 months      1.30% APY
• 36 months      1.80% APY
• 48 months      2.45% APY
• 60 months      2.65% APY

Gold CD requires a deposit of $100,000 to $249,999 and the Platinum CD requires a deposit of $250,000 and above to earn the best interest rates. All certificate of deposit account will renew once it matures. A notification will be mailed to you 30 days before the maturity date and you will be given 7 calendar days grace period to think about continuing the account and make changes on your term or terminate the account without having any penalty imposed on your CD account.

An early withdrawal may also be imposed on your certificate of deposit account when you withdraw funds before the maturity date. CD accounts with 3 to 9 months term will receive a penalty of 90 days worth of interest while CD accounts with 1 year to 5 years term will receive a penalty of 180 days worth of interest.

The earnings of this money in the bank deal are credited monthly to your account. You may choose to have your dividends transferred into your savings account or checking account or simply have it mailed to you in a form of check. Please note that the dividend rates are subject to change anytime without prior notice.

The credit union is advertising a one time Bump-Up 24 month CD term which has an interest rate of 1.50% APY. This top CD rate only requires a minimum of $500 to open an account. This certificate of deposit account gives you an opportunity to use a one time bump-up to earn a higher interest rate. The credit union will inform you if there is an increase on their dividend rate so that changes can be made on your account. This promo can be found on the home page of the credit union’s website.

Membership with Xcel Federal Credit Union is open to individual who belong to one of their select employee groups. Their immediately family are also eligible to join. You may visit the credit union’s website to check the list of their select employee groups. If you still have questions about membership eligibility you may call their membership service line at 800-284-8663.

Individuals who want to become members and take advantage of their highest CD rates may complete the application online. You also need to open a share savings account which will only require a minimum deposit of $5. You are required to submit documents or valid picture identifications as part of their requirements.

Xcel Federal Credit Union has 2 branches located in Old Bridge and Jersey City, New Jersey. The credit union was established in 1964 and they are also insured with the National Credit Union Association with a charter number 16218.