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.
| Term | APY | Minimum |
|---|---|---|
| 7-month term3 | 4.42% | $500 |
| 1-year term | 4.99% | $500 |
| 2-year term | 4.89% | $500 |
| 3-year term | 4.84% | $500 |
| 4-year term | 4.73% | $500 |
| 5-year term | 4.68% | $500 |
|
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 Jumbo | Min. to Open | Dividend | APY |
|---|---|---|---|
| 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.
| Term | Insurer | Company | Annuity | Rate | AM Best | Free withdrawals | Application |
|---|---|---|---|---|---|---|---|
| 2 Years | 
|
CL Life | CL Sundance | 5.25% | B++ | Interest Only | Apply |
| 3 Years | 
|
Mountain Life | Alpine Horizon | 6.00% | B+ | None | Apply |
| 4 Years |
|
Mountain Life | Alpine Horizon | 6.05% | B+ | 10% | Apply |
| 5 Years | 
|
Knighthead Life | Staysail Annuity | 6.30% Simple | A- | None | Apply |
| 6 Years | 
|
Equitrust | Certainty Select | 5.60% | B++ | Interest Only | Apply |
| 7 Years |
|
Knighthead Life | Staysail Annuity | 6.50% Simple | A- | None | Apply |
| 8 Years |
|
EquiTrust | Certainty Select | 5.65% | B++ | Interest Only | Apply |
| 9 Years | 
|
Clear Spring Life | Preserve MYGA | 5.35% | A- | None Yr 1 10% Yrs. 2-9 |
Apply |
| 10 Years | 
|
Revol One | DirectGrowth MYGA | 6.00% | B++ | None | 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
- Safety of Principal
- Liquidity Options Available
- Guaranteed Interest Rates
- Distribution Options at Maturity
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.
- Short Term Accumulation
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.
- Tax Deferral
- Long Term Accumulation
What’s Best for You? CD or Annuity?
| FEATURES | FIXED ANNUITY | CD |
|---|---|---|
| Issued By | Insurance Companies | Banks |
| Investment Amount | $2,000 – $1,000,000 | Essentially Any Amount |
| Investment Term | 2 years – 10 years | 3 months – 5 years |
| Interest Rates (APY) | Varies by product. | Varies by bank, term and investment amount. |
| Liquidity | Usually, 10% annually or interest earned. | Almost always accumulated interest. |
| Guarantees | Backed by Insurer & State Guaranty Associations. | Backed by the FDIC. |
| Death Benefit | May avoid probate. | Probate process required. |
Today’s Best CD Rates by Term
Best 3 Month CD Rates
| Best 3-Month CD Rates | APY | Term | Minimum |
|---|---|---|---|
| Signature Federal Credit Union | 5.55% | 3 Months | $500 |
| Ponce Bank | 5.40% | 3 Months | $1 |
| Western Alliance Bank | 5.41% | 3 Months | $1 |
Best 6 Month CD Rates
| Best 3-Month CD Rates | APY | Term | Minimum |
|---|---|---|---|
| Signature Federal Credit Union | 5.55% | 3 Months | $500 |
| Ponce Bank | 5.40% | 3 Months | $1 |
| Western Alliance Bank | 5.41% | 3 Months | $1 |
Best 1 Year CD Rates
| Bank | Rate | Term | Minimum |
|---|---|---|---|
| All In Credit Union | 5.85% APY | 12 Months | $100,000 |
| My eBanc | 5.77% APY | 12 Months | $100,000 |
| State Bank of Texas | 5.75% APY | 12 Months | $50,000 |
Best 2 Year CD Rates
| Bank | Rate | Term | Minimum |
|---|---|---|---|
| Luana Savings Bank | 5.68% APY | 24 Months | $100,000.00 |
| Maple Mark Bank | 5.40% APY | 24 Months | $25,000.00 |
| Crescent Bank | 5.35% APY | 24 Months | $1,000.00 |
Best 3 Year CD Rates
| Bank | APY | Term | Minimum |
|---|---|---|---|
| Valley National Bank | 5.60% | 36 Months | $500 |
| Bread Savings | 4.95% | 36 Months | $1,500 |
| The State Exchange Bank | 4.70% | 36 Months | $1 |
Best 4 Year CD Rates
| Bank | APY | Term | Minimum |
|---|---|---|---|
| Bread Savings | 4.75% | 48 Months | $1 |
| The State Exchange Bank | 4.50% | 48 Months | $1 |
| Barclays | 4.45% | 48 Months | $1 |
Best 5 Year CD Rates
| Bank | APY | Term | Minimum |
|---|---|---|---|
| Farmers Insurance | 5.00% | 60 Months | $1,000 |
| Schools First Credit Union | 4.75% | 60 Months | $100,000 |
| Bread Savings | 4.75% | 60 Months | $1,500 |
Lafayette Federal Credit Union Contact Info
Phone Number
+1 (800) 888-6560
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Frequently Asked Questions
Are Annuities FDIC Insured?
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
Can you loose money in a fixed annuity?
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.
What is Lafayette Federal Credit Union’s Routing Number?
Lafayette Federal Credit Union Routing Number is: 254074811
Where is there a Lafayette Federal Credit Union ATM?
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.
