Lafayette Federal Credit Union: Savings & CD Rates

Lafayette Federal Credit Union CD Rates

Table of Contents

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.
TermInsurerCompany DetailsAnnuity RateAM BestApplication
2 Years Oceanview life and annuity logo OceanviewHarbourview 4.90%A-Apply
3 Years Farmers life insurance company logo Farmers LifeSafeguard Plus5.50%B++Apply
4 Years Americo annuity logo AMERICOPlatinum Assure5.20%AApply
5 Years Ibexis annuity logo Ibexis MYGA Plus5.90% SimpleA-Apply
6 Years Equitrust annuity logo EquiTrustCertainty Select5.65%B++Apply
7 Years Americo annuity logo AMERICOPlatinum Assure5.55%AApply
8 Years Equitrust annuity logo EquiTrustCertainty Select5.70%B++Apply
9 Years American national annuity logo American NationalPalladium MYG5.10%AApply
10 Years Equitrust annuity logo EquiTrustCertainty Select6.00%B++Apply
Infographic listing the top 8 advantages of purchasing an annuity. My annuity store, inc. Logo bottom center.

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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

BankRateTermMinimum
TotalDirect Bank5.16% APY3 Months$25,000.00
Ponce Bank N.A.5.15% APY3 Months$50,000.00
Brilliant Bank5.10% APY3 Months$1,000.00
Alliant Credit Union4.50% APY3 Months$1,000.00
Popular Direct4.50% APY3 Months$10,000.00

Best 6 Month CD Rates

BankRateTermMinimum
TotalDirect Bank5.16% APY3 Months$25,000.00
Ponce Bank N.A.5.15% APY3 Months$50,000.00
Brilliant Bank5.10% APY3 Months$1,000.00
Alliant Credit Union4.50% APY3 Months$1,000.00
Popular Direct4.50% APY3 Months$10,000.00

Best 1 Year CD Rates

BankRateTermMinimum
Evergreen Bank Group5.50% APY13 Months10000
NexBank5.40% APY12 Months25000
BrioDirect5.35% APY12 Months500
Bread Savings5.25% APY12 Months1000
Barclays4.80% APY12 Months0

Best 2 Year CD Rates

BankRateTermMinimum
U.S. Senate Federal Credit Union5.28% APY24 Months1000
Summit Credit Union5.25% APY22 Months5000
Idabel National Bank5.05% APY24 Months1000
Bread Savings5.00% APY24 Months1500
PenFed Credit Union4.45% APY24 Months1000

Best 3 Year CD Rates

BankRateTermMinimum
U.S. Senate Federal Credit Union5.23% APY36 Months1000
Quorum Federal Credit Union4.85% APY36 Months1000
Popular Direct4.55% APY36 Months10000
Bread Savings4.50% APY36 Months1500
Barclays4.30% APY36 Months0

Best 4 Year CD Rates

Best 4-Year CD RatesRateTermMinimum
NASA Federal Credit Union4.85% APY49 Months10000
GTE Financial4.85% APY48 Months500
First National Bank of America4.50% APY48 Months1000
Bread Savings4.35% APY48 Months1500

Best 5 Year CD Rates

BankRateTermMinimum
Lafayette Federal Credit Union4.68% APY60 Months500
Department of Commerce Federal Credit Union4.67% APY60-84 Months25000
GTE Financial4.54% APY60 Months500
Popular Direct4.53% APY60 Months10000
Bread Savings4.25% APY60 Months1500

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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