Deposit Diary Daily #182

An up-close (and incomplete) look at Clearpath Federal Credit Union 5.00% APY 13-month Special Certificate

Nov 21, 2024

Clearpath Federal Credit Union is currently offering a limited-time 13-month Special Certificate. This nationally available Special Certificate earns 5.00% APY – something we all can be thankful for. The minimum opening deposit is $5k of new money and there appears to be no balance cap.

NOTE: I was on hold with Clearpath FCU for more than 30 minutes before I hung up. I requested a call-back, but so far, I haven’t been contacted. Consequently, my knowledge of this CD is somewhat limited.

Joining Clearpath FCU can be done online or at the Glendale, California branch. I’m not sure a 13-month Special Certificate can be opened online: the online application for new members (as well as the application for current members) does not list any CDs. Only Money Market, checking, and Secondary Member Share accounts are listed on the application. I am assuming that a Special Certificate can be opened in-branch or over the phone (800.433.7328).

Clearpath FCU offers membership to all U.S. citizens and residents aliens (18-years or older with a valid Social Security number) who join the Clear Giving Charitable Association with a one-time donation of $5 or more.

Certificate Details

Funding a Special Certificate – unknown.
Clearpath FCU participates in the CO-OP Shared Branch network.
TSCs can be individual, joint, or trust accounts.
Early withdrawal penalty for the 13-month Special Certificate is 90 days dividends or $10, whichever is greater. Partial withdrawals are allowed, but the principal will be reduced if a withdrawal is made within the first 90 days after opening.
Dividends are compounded/credited monthly and will be “paid to you or to another account every month rather than credited to this account.”
Maturing funds can be disbursed – unknown.
There is a 10 calendar day grace period before automatic renewal as a 12-month Clearly Better CD.
Beneficiaries – unknown.
Credit check – unknown.

Clearpath Federal Credit Union was founded in 1954 as the Ralphs Employees Federal Credit Union, with only Ralphs Grocery Company employees eligible to join. Based on Q2 2024 data, Clearpath has nearly 11,000 members with assets of more than $150 million.