Weekly Rate Spotlight - WYMAR Federal Credit Union Offering 2.27% APY 24-Month CD

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Wymar Federal Credit Union is offering its members a 24-month CD that pays 2.27% APY.

Wymar Federal Credit Union is offering its members a 24-month CD that pays 2.27% APY. That's a pretty good rate nowadays for a 5-year CD, nevermind a 2 year one. For comparison purposes, the average 1-year CD nationally pays 0.55% and the average 5-year CD pays 1.50% APY.

That's the good news. Now, the bad news. Wymar has a pretty restrictive field of membership. Credit Unions are allowed to restrict who can join to certain organizations, geographies, places of workship, or other criteria. Wymar membership is open to:

  • Employees of BASF Corporation who work in Geismar, Louisiana and members of their immediate family
  • Employees of this credit union and members of their immediate family
  • Un-remarried spouses of persons who died while within the field of membership of this credit union
  • Persons retired as pensioners or annuitants from BASF Corporation
  • Organizations of such persons

Not all credit unions are this restrictive. Last week, I reviewed Fredercia Federal Credit and they allow anyone to join.

If you do quality, the credit union looks financially strong. Wymar FCU was established in 1958 and operates one branch in Geismer, LA. The credit union has a low Texas Ratio (learn more about the Texas Ratio) of 4.71% versus the national average of 10.34% (the lower the Texas Ratio the better). Wymar holds $67.66 million in assets.

Wymar is NCUA insured, the credit union equivalent of FDIC insurance. That means that your money is insured up to $250,000 per person.

If you don't quality to become a member of Wymar FCU, BestCashCow can help you find a great rate in your area.

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Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

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