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Annuity Rates

5.35%
2 Year

5.90%
3 Year

6.30% Simple
5 Year

5.60%
10 Year

Lafayette Federal Credit Union: Savings & CD Rates

Lafayette Federal Credit Union CD Rates

Lafayette Federal Credit CD Rates Reviewed

In this guide, we will review Lafayette Federal Credit Union CD rates and compare them to the best CD rates money market, savings account, and fixed annuity rates offered by top banks and insurance companies in the United States.

While there is a Purdue Federal Credit Union in Lafayette, IN, Lafayette FCU has served many Purdue University Students and Staff since 1935.

APY as high as 5.15%

Minimum Deposit as low as $500

Term 7 Months to 5 Years

Lafayette Federal Credit Union CD Rates

Lafayette Federal Credit Union CDs allow you to plan out your savings by providing guaranteed returns that you can access on a set maturity date. 

TermAPYMinimum
7-month term34.42%$500
1-year term4.99%$500
2-year term4.89%$500
3-year term4.84%$500
4-year term4.73%$500
5-year term4.68%$500
Fixed-Rate Certificates

Fixed-Rate1

Min. to Open 

Min. to Earn APY2

Dividend

APY2

 

1Early withdrawal penalties may apply. Rates subject to change without notice. Certificates will automatically renew upon maturity unless otherwise stipulated by the member. Fixed Certificate Account dividends are compounded and paid quarterly on the first day of the next dividend period. Must establish membership with Lafayette Federal Credit Union, or be an existing member. $50 minimum balance required to open and earn 0.10% APY2 on Lafayette Federal share savings account balances. $5 minimum balance required to open and earn 0.025% APY2 on LFCU checking account balances. 2APY=Annual Percentage Yield. 37-month term Fixed-Rate Certificates are not available as an IRA.

The rates and terms shown are effective as of June 1, 2023.

 

Lafayette Federal Credit Union Jumbo CD Rates

1Valid on new or existing money. Fixed-Rate Jumbo Certificates are not available as an IRA. Early withdrawal penalties may apply. Certificates will automatically renew upon maturity for the same term at the standard certificate dividend rate unless otherwise stipulated by the member. Fixed Certificate Account dividends are compounded and paid quarterly on the first day of the next dividend period. The minimum to open a Fixed-Rate Jumbo Certificate is $100,000.00. No maximum certificate amount. Must establish membership with Lafayette Federal Credit Union, or be an existing member. $50 minimum balance required to open and earn 0.10% APY2 on Lafayette Federal share savings account balances. $5 minimum balance required to open and earn 0.025% APY2 on LFCU checking account balances. 2APY=Annual Percentage Yield.

The rates and terms shown are effective as of June 1, 2023.

 
Fixed-Rate JumboMin. to OpenDividendAPY
1-year term$100,000 5.05%5.15%
2-year term$100,000 4.95%5.04%
3-year term$100,000 4.90%4.99%
4-year term$100,000 4.80%4.89%
5-year team$100,000 4.75%4.84%

Today's Best "CD-Type" Annuity Rates

Fixed annuity rates are guaranteed for a set number of years.
TermInsurerRateAnnuity AM BestApplication
2 Years Americo annuity logo
AMERICO
5.35%Platinum Assure 2AApply
3 YearsSecurity sentinel life logo
Sentinel Security
5.90%Personal ChoiceB++Apply
4 Years Americo annuity logo
AMERICO
5.50%Platinum Assure 4AApply
5 Years Ibexis annuity logo
Ibexis
6.30% SimpleMYGA PlusA-Apply
6 Years Nassau logo
Nassau
5.70%MYAnnuityB++Apply
7 Years Ibexis annuity logo
Ibexis
6.50% SimpleMYGA PlusA-Apply
8 Years Equitrust annuity logo
EquiTrust
5.50%Certainty SelectB++Apply
9 YearsAmerican national annuity logo
American National
5.35%Palladium MYGAAApply
10 Years Equitrust annuity logo
EquiTrust
5.60%Certainty SelectB++Apply
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CD Rates vs Fixed Annuity Rates

A fixed annuity, often called a CD Type Annuity, is essentially a CD that is issued by an insurance company rather than a bank.

When deciding between a CD and a fixed deferred annuity, the amount of time you need to save should be a key factor. Let’s compare and contrast two similar versions of these products:

Similarities

Pros of CDs

For short-term goals, such as a down payment on a home or a new car, a CD may prove to be a better choice. CD maturity periods can be as short as one month or as long as several years.

Fixed Annuity Pros

Fixed annuity earnings accumulate tax deferred and are not treated as taxable income until they are withdrawn. If you are saving for the long term like for retirement, the tax deferral may be helpful.

What's Best for You? CD or Annuity?

FEATURESFIXED ANNUITYCD
Issued ByInsurance CompaniesBanks
Investment Amount$2,000 - $1,000,000Essentially Any Amount
Investment Term2 years - 10 years3 months - 5 years
Interest Rates (APY)Varies by product.Varies by bank, term and investment amount.
LiquidityUsually, 10% annually or interest earned.Almost always accumulated interest.
GuaranteesBacked by Insurer & State Guaranty Associations.Backed by the FDIC.
Death BenefitMay avoid probate.Probate process required.

Today's Best CD Rates by Term

Best 3 Month CD Rates

Best 3-Month CD RatesAPYTermMinimum
Signature Federal Credit Union5.55%3 Months$500
Ponce Bank5.40%3 Months$1
Western Alliance Bank5.41%3 Months$1

Best 6 Month CD Rates

Best 3-Month CD RatesAPYTermMinimum
Signature Federal Credit Union5.55%3 Months$500
Ponce Bank5.40%3 Months$1
Western Alliance Bank5.41%3 Months$1

Best 1 Year CD Rates

BankRateTermMinimum
All In Credit Union5.85% APY12 Months$100,000
My eBanc5.77% APY12 Months$100,000
State Bank of Texas5.75% APY12 Months$50,000

Best 2 Year CD Rates

BankRateTermMinimum
Luana Savings Bank5.68% APY24 Months$100,000.00
Maple Mark Bank5.40% APY24 Months$25,000.00
Crescent Bank5.35% APY24 Months$1,000.00

Best 3 Year CD Rates

BankAPYTermMinimum
Valley National Bank5.60%36 Months$500
Bread Savings4.95%36 Months$1,500
The State Exchange Bank4.70%36 Months$1

Best 4 Year CD Rates

BankAPYTermMinimum
Bread Savings4.75%48 Months$1
The State Exchange Bank4.50%48 Months$1
Barclays4.45%48 Months$1

Best 5 Year CD Rates

BankAPYTermMinimum
Farmers Insurance5.00%60 Months$1,000
Schools First Credit Union4.75%60 Months$100,000
Bread Savings4.75%60 Months$1,500

Lafayette Federal Credit Union Contact Info

Phone Number

Toll-Free

+1 (800) 888-6560

Lost Card Your Debit Card?

Debit: +1 (888) 918-7802
Credit: +1 (800) 449-7728

Frequently Asked Questions

While not FDIC insured, State Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent. Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.”  Financial Industry Regulatory Authority (FINRA).  Visit FINRA’s Fixed Annuities Webpage

You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.

Lafayette Federal Credit Union Routing Number is: 254074811

Your LFCU membership gives you access to surcharge-free ATM withdrawals and account access across the nation, including locations at popular retailers such as 7-Eleven, Circle K, Costco, Publix, Dunkin Donuts, and Rite-Aid. Find a surcharge-free ATM near you.

Disclosures

Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.

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