Delta Community Credit Union (GA) Has High Rate 1-Year CD

Delta Community Credit Union’s (Delta Community) 12-month CD currently earns 0.80% APY, which is the highest 1-year CD rate available in the Atlanta metropolitan area. The minimum opening deposit is $1k, with no stated balance cap.

The 12-month CD is also available as an IRA CD (Traditional, Roth, SEP), earning the same APY with the same deposit requirements.

As stated in the CD Disclosure Supplement, the relatively mild Early Withdrawal Penalty (EWP) reads as follows:

90 days of interest if the certificate term is 12 months

The Disclosure Supplement also states,

You cannot withdraw principal from this account without the credit union’s consent except on or after maturity. For certificates opened through Delta Community Credit Union’s Online Membership Application, no withdrawals may be made within the first sixty-five (65) days after account opening.

Funding a CD can be done by ACH, wire, or through a transfer from a Delta Community savings account. According to CSR, the easiest way to fund a CD is through an internal transfer.

Upon maturity, the CD’s balance will be transferred to a Delta Community primary savings account or other account as designated by the owner in writing. Maturing funds from an IRA CD will be deposited to a Delta Community IRA savings account. There is a 10-day grace period before automatic renewal.

60-month CD

In July, I wrote about the 60-month CD, which at the time was the highest-rated 5-year CD available in Georgia. Following three rate drops in the past five months, the 60-month CD currently earns 1.25% APY (50 bps lower than the July 2020 rate).

I’m mentioning the 60-month CD for a couple of reasons: 1) 1.25% APY is still a competitive rate and 2) the EWP is only 270 days. If you’re looking for safe harbor for funds while waiting for rates to rise, the 60-month CD (with its relatively mild EWP) might be a useful account to open.

Availability

Headquartered in Atlanta, Delta Community Credit Union’s field of membership (FOM) uses residency, employment, and organization affiliation to determine eligibility.

Individuals who live or work in any of the following 14 Georgia counties qualify for membership: Cherokee, Clayton, Cobb, Coweta, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Hall, Henry, Paulding, or Rockdale.

Current, former, or retired employees of more than 120 businesses (including Delta Air Lines, Inc. and other aviation-related businesses) are eligible to join, as are members of twelve associations. A complete list of these businesses and associations can be found on Delta Community’s Membership Eligibility page.

While most credit unions allow immediate family members of current members to join, Delta Community’s definition of family is much more generous.

Any person related by blood, adoption or marriage to a member (except relatives of members who have been expelled from the Credit Union.) For example, if your spouse becomes a member, all of your spouse's eligible relatives could also become members of Delta Community Credit Union.

According to the Membership Eligibility page, eligible relatives include spouse, domestic partner, children, parents, siblings, grandparents, grandchildren, aunts, uncles, nieces, nephews, cousins, in-laws, and step-relatives.

Joining Delta Community and/or opening a CD can be done online or at any of the 26 Georgia branches, located in Alpharetta, Atlanta (6), Buford, Canton, Cumming, Decatur, Duluth, Fayetteville, Gainesville, Johns Creek, Marietta (2), McDonough, Newnan (2), Peachtree City (2), Sandy Springs, Snellville, and Stockbridge (2). Delta Community also has branches in Florence, Kentucky; Salt Lake, Utah; and Southlake, Texas.

Our branch lobbies will now accommodate walk-ins Monday through Friday, in addition to continuing to offer scheduled appointments and drive-thru service. Please note that on Saturdays, our branch lobbies will only be accessible by appointment.

Establishing a Delta Community membership requires opening a Savings Account, with a minimum $5 deposit.

Delta Community belongs to the CO-OP network, meaning our members can visit participating credit unions across the country to conduct most business as if they were at their own credit union branch. Through the CO-OP network, members also have access to thousands of surcharge-free ATMs.

Credit Union Overview

Delta Community Credit Union has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 1.26% (excellent) based on September 30, 2020 data. In the past year, Delta Community has increased its total non-brokered deposits by $1.4 billion, an excellent annual growth rate of 27.13%. Please refer to our financial overview of Delta Community Credit Union (NCUA Charter # 66357) for more details.

Established in 1940 as the Delta Employees Credit Union, the founding members were eight Delta Air Lines employees with just $45 in capital. In 2005, the Credit Union considered changing its name and moving away from the 65-year tie with its longtime sponsor, Delta Airlines. While focus groups (members and the general public) had no problem with a name change, removing “Delta” from the name was met with overwhelming opposition. As the FOM had expanded to include non-Delta employees, “Community” was chosen to replace “Employees.” By 2013, approximately 50% of Delta Community were not employees of the Airlines. Delta Community is currently the largest credit union headquartered in Georgia, with more than 427,000 members and assets in excess of $7.4 billion.

How the CD Compares

When compared to 257 similar length of term CDs tracked by DepositAccounts.com that require a similar minimum deposit of and are available within the FOM, Delta Community Credit Union’s 12-month CD APY currently shares the top spot with three 1-year CD APYs offered by three easy membership credit unions.

The above rates are accurate as of 1/23/2021.

Looking for the best CD rates, either nationwide or state-specific? Please refer to our CD Rates Table page.