bank rates

Texas CU: Why We Have Top CD Rates

UPDATE 3/3/15:The yields on some of these rates have fallen: 24-month CD now pays 1.55% APY; 12-month, 1.10% APY; and 6-month, 0.85% APY.

Gulf Coast Federal Credit Union offers these top rates with a $500 minimum deposit.We were surprised to see that south Texas’ Gulf Coast Federal Credit Union hasn’t changed its CD rates since we last posted about them at the end of 2011.

After all, those CD Rates were good then. And now? They’re spectacular.

With a $500 minimum deposit, Gulf Coast Federal Credit Union still pays:

  • 1.10% APY for 6-month CDs.
  • 1.50% APY for 12-month CDs.
  • 1.85% APY for 24-month CDs.
  • 2.02% APY for 36-month CDs.

That 36-month CD rate is six-tenths of a percentage point higher than the term’s current leader on our CD Rates Leaderboard.

Although we regularly find competitive CD rates in Texas, this is still an extraordinary situation. So we called Gulf Coast Federal Credit Union to find out how it managed to hang on to rates like these.

President and CEO Gary Rapier responded that the south Texas market is very competitive for loans and deposits as a result of the Eagle Ford Shale oil boom, as well as the area’s strong economy.

“We have been over 95% loaned out for several years now, and to attract new deposits and keep our liquidity position in line with our policies, we need to be aggressive with rates,” he wrote to us in an email.

Wait, a bank both seeking deposits and willing to reward its savers with decent CD rates? What a novel concept.

Unfortunately, you have to be a member of Gulf Coast Federal Credit Union to purchase these certificates of deposit. Membership is available to those who live, work, worship or attend school in Nueces, Jim Wells and San Patricio counties.

Membership requires a $2.50 membership fee and a $5 deposit in a share account.

Members must buy CDs in person at one of Gulf Coast Federal Credit Union’s three branches in Corpus Christi and Alice.

Learn more about Gulf Coast Federal Credit Union at or call 800-881-5991.

See how these returns compare with the best CD rates from scores of banks in our extensive database.

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Comments (1)
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One Existing Comment
  1. derek said:
    on November 8th at 10:06 pm

    please put geographic and other restrictions at the very beginning of your posting, so that the rest of the usa doesn’t need to ‘click here to read more’. thank you.