Deal Summary: 13-23 month CD (0.90% APY) and 24-35 month CD (0.95% APY), $500 minimum deposit.
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Availability: Residents of eight central Oklahoma counties.
In the past couple of years, I’ve written about competitive fixed-term CD Specials offered by True Sky Credit Union (True Sky). While no CD Specials are presently available, two of True Sky’s flexible-term CDs have some of the best rates currently available in Oklahoma. The 13-23 month CD (0.90% APY) and 24-35 month CD (0.95% APY) can be opened with a $500 minimum deposit; there is no stated balance cap.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 0.95% | $500 | – | True Sky Credit Union | 24-35 Month CD | |
| 0.90% | $500 | – | True Sky Credit Union | 13-23 Month CD |
Rates as of March 30, 2021.
DA has been tracking these flexible-term CDs for almost ten years. For most of that time, the CD rates were not outstanding, with the exception of a twelve month period between March 2019 and March 2020.
Almost all True Sky CDs are also available as IRA CDs (Traditional, Roth, and CESA), earning the same APYs with the same deposit requirements.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 0.95% | $500 | – | True Sky Credit Union | 24-35 Month IRA (Traditional, Roth, CESA) | |
| 0.90% | $500 | – | True Sky Credit Union | 13-23 Month IRA (Traditional, Roth, CESA) |
Rates as of March 30, 2021.
According to CSR, the Early Withdrawal Penalty for either of the CDs is 180 days interest on the amount withdrawn. Partial withdrawals are permitted, as long as a $500 minimum balance is maintained.
Availability
Headquartered in Oklahoma City, True Sky Credit Union’s field of membership (FOM) is residency-based, with individuals who live, work, or attend school in the central Oklahoma counties of Canadian, Cleveland, Grady, Lincoln, Logan, McClain, Oklahoma, or Pottawatomie eligible for membership.
Normally, joining True Sky CU can be done online, but the online application is currently (and temporarily) disconnected. CSR stated a new application is “in the works” and should be available soon. In the meantime, joining can be done at any of eight Oklahoma branches, located in Edmond, Mustang, Norman, Oklahoma City (4), and Yukon. There is no mention of any COVID-related branch restrictions on True Sky CU’s website.
The Membership Application can also be downloaded and returned by snail-mail, or brought to any of the above-mentioned branch locations.
At True Sky Credit Union, all members are shareholders. Open a savings account with
as little as $5 to become a member of one of the largest credit unions in Oklahoma.
While applying for a loan or opening a checking account can normally be done online, opening CD requires a visit to any of the above-mentioned branch locations.
True Sky CU participates in the CO-OP Shared Branch Network, providing its members with access to more than 5,000 branches and nearly 30,000 ATMs across the country.
True Sky Credit Union has eight branch locations as well as being part of the
Credit Union Shared CO-OP, so no matter where you are, we’re always close.
Credit Union Overview
True Sky Credit Union has an overall health grade of “A” at DepositAccounts.com, with a Texas Ratio of 3.85% (excellent) based on December 31, 2020 data. In the past year, True Sky CU has increased its total non-brokered deposits by $90.14 million, an excellent annual growth rate of 15.52%. Please refer to our financial overview of True Sky Credit Union (NCUA Charter # 62568) for more details.
Like so many credit unions, True Sky Credit Union was founded to assist a group of employees help each other with their financial needs. The founding name in 1946 was CAA (Department of Commerce Civil Aeronautics Administration) Employees Credit Union, and was changed to FAA (Federal Aviation Administration) Credit Union in the 1950s, as the Federal Government consolidated the CAA Department with the FAA. A community charter was adopted in 1997, extending membership to residents of the counties surrounding the Oklahoma City Metro area. The True Sky re-brand occurred in July 2016 as the FOM continued to expand. True Sky Credit Union is currently Oklahoma’s seventh largest credit union, with more than 56,000 members and assets in excess of $766 million.
How the CDs Compare
When compared to similar length-of-term CDs tracked by DepositAccounts.com, requiring similar minimum deposit and available within the FOM, True Sky Credit Union’s 13-23 month CD APY currently ranks first.
| Interest Rate | CD Length of Term | Credit Union/Bank |
|---|---|---|
| 0.90% APY | 13-23 Month CD | True Sky Credit Union |
| 0.85% APY | 12-Month Certificate | Weokie Credit Union |
| 0.80% APY | 1-Year Fixed CD | Lafayette Federal Credit Union |
When compared to similar length-of-term CDs tracked by DepositAccounts.com, requiring similar minimum deposit and available within the FOM, True Sky Credit Union’s 24-35 month CD APY currently ranks first.
| Interest Rate | CD Length of Term | Credit Union/Bank |
|---|---|---|
| 0.95% APY | 24-35 Month CD | True Sky Credit Union |
| 0.93% APY | 24-Month Share Certificate | Oklahoma Federal Credit Union |
| 0.90% APY | 2-Year Share Certificate | Credit Union One of Oklahoma |
The above rates are accurate as of 3/31/2021.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
