Blue Federal Credit Union CD Rates Account Review 

Read our review & open a new Blue Federal Credit Union certificate of deposit account with confidence.  Blue Federal Credit Union is NCUA insured up to $250,000 per depositor.  Fund your new account & take advantage of the power of compound interest today!

Main Benefits You Get with Blue Federal Credit Union

Credit Union Savings:

Blue Federal Credit Union, like many credit unions, is a not for profit organization. This means they pass the profits back to their members through higher savings rates, lower and in many instances no fees. All while providing great customer service.

Competitive APY:

Blue FCU offers 4.50% APY on its 15 month term certificate of deposit. This rate is more than 5x the national average.

This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks.

Low minimum balance requirement:

You can open a certificate of deposit with Blue Federal Credit Union for as little as $1. This makes it easy to open an account quickly and when you’re ready, to fully fund the account to start taking advantage of compound interest.

No monthly maintenance fee:

Fees are the worst. They eat into your rate of return and are just a pain in the neck. Thankfully, Blue FCU doesn’t charge any monthy maintence fees. Unlike the big banks that could charge you a fee for your CD account.

Customer service: 

Blue Federal Credit Union has partnered with Raisin to bring it’s first-class certificate of deposit account to more Americans. Raisin has a supportive, accessible, responsive customer service team based in New York, NY.

NCUA insured:

Blue Federal Credit Union is federally insured by the National Credit Union Association. This covers you for as much as $250,000 per depositor, per institution, in the event of a bank failure. This means that if you have a joint account, you’ll enjoy up to $500,000 federally insured.

Think of it as an insurance policy you don’t have to pay for, that’s nice.

Proven Track Record: 

Blue Credit Union has served its members faithfully for over 70 years. Blue FCU was originally chartered in 1951 as Warren Federal Credit Union by a group of civilian personnel at F.E. Warren Air Force Base. The color blue is a nod to the air force and the boundless skies.

No Penalty CD Option:

Blue Federal Credit Union also offers a no penalty version of their certificate of deposit account.

A No Penalty CD is a type of certificate of deposit (CD) offered by some banks and financial institutions that allows the depositor to withdraw their funds without incurring any penalty fees.

Unlike traditional CDs, which impose a penalty for early withdrawal, a No Penalty CD offers the flexibility to access funds before the maturity date without incurring any charges. However, it generally pays a lower interest rate compared to traditional CDs. Additionally, the bank may limit the number of penalty-free withdrawals, so it’s important to read the terms and conditions carefully before investing.

Open Your New Certificate of Deposit with Blue Federal Credit Union Now

Blue Federal Credit Union  CD Rates

Blue Federal Credit Union Certificate of Deposit Account: 4.50% APY - 15 Month Term

Blue Federal Credit Union No Penalty Certificate of Deposit Account: 4.25% APY - 9 Month Term

Blue Federal Credit Union Also Offers a Savings Account.

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Blue Federal Credit Union Certificate of Deposit Account: 4.50% APY - 15 Month Term

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Blue Federal Credit Union, Powered by Raisin

Blue Federal Credit Union uses the secure Raisin platform to offer savings products to savers nationwide. Customers open accounts at Raisin.com, and the platform manages all aspects of the products offered by Blue Federal Credit Union, including a customer’s deposits and withdrawals, statements and any customer service needs. In simple terms, Raisin provides you exclusive access to a special selection of Blue products. Best of all, Raisin is completely free!

Security: Funds deposited into any of the products accessible through Raisin are held by federally insured institutions. We use a host of cybersecurity measures to protect your funds and sensitive information.

Choice: Savings products from our network of financial institutions offer flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.

Convenience: One account to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.

Service: A supportive, accessible, responsive customer service team based in New York, NY, sets Raisin apart.

Access: Enjoy 24/7 online access to your account and funds.

See More CD Rates by Term & Type

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Why Blue Federal Credit Union May Be Right For You.

There are a few potential reasons why credit unions like Blue Federal Credit Union may be a better choice than big national banks:

1. Lower fees: Credit unions are often able to offer lower fees on their financial products and services because they are not-for-profit organizations. This can be particularly beneficial if you use a lot of financial services or products that come with fees, such as ATM usage, overdraft protection, or account maintenance fees.

Blue Federal Credit Union offers no monthly fees on its CD account through the Raisin Platform.

2. Higher interest rates: Credit unions may offer higher interest rates on their savings accounts and CDs compared to big national banks. This can help you earn more on your money over time.

Blue Federal Credit Union offers an interest rate of 4.50% APY on its CD account through the Raisin Platform.

3. Better customer service: Credit unions are known for their personalized, member-focused approach to customer service. This can be particularly appealing if you value one-on-one attention and support from your financial institution.

Raisin offers a supportive, accessible, responsive customer service team based in New York, NY, sets Raisin apart.

4. Community focus: Credit unions are typically community-based organizations that are owned and operated by their members. This means that they may be more focused on serving the needs of their local communities and may be more responsive to their members’ needs and concerns.

Blue Federal Credit Union invests in the local community through the Blue Foundation. When you invest in a Blue Federal Credit Union CD, you invest in local communities.

5. Potential for membership perks: Credit unions may offer additional benefits or perks to their members, such as discounted rates on loans or insurance products.

6. Potential for more flexible lending practices: Credit unions may be more willing to work with you if you have less-than-perfect credit or a limited credit history. This may make it easier for you to get approved for a loan or credit card.

7. Potential for lower loan rates: Credit unions may offer lower rates on loans, such as mortgages, car loans, and personal loans, compared to big national banks. This can potentially save you money on interest over the life of the loan.

8. Potential for better terms on credit cards: Credit union credit cards may offer more favorable terms, such as lower interest rates or no annual fees, compared to credit cards offered by big national banks.

9. Potential for better investment options: Credit unions may offer a wider range of investment options, such as mutual funds or brokerage services, compared to big national banks. This can give you more flexibility and choice when it comes to managing your money.

It’s important to keep in mind that credit unions may not offer the same level of convenience or access as big national banks. For example, credit unions may have fewer branches or ATMs, or may not offer certain financial products or services. It’s a good idea to carefully compare the features and benefits of credit unions and big national banks to determine which is the best fit for your financial needs.

Thankfully, Blue Federal Credit Union’s CD account offered through the Raisin platform allows you 27/7 online access to your funds and because it’s a CD account you won’t need access to ATMs.

Sign up for Your Account Now!

Blue Federal Credit Union Certificate of Deposit Account: 4.50% APY - 15 Month Term

History of Blue Federal Credit Union

Blue Federal Credit Union was founded in 1951 as Warren Federal Credit Union by a group of civilian personnel at F.E. Warren Air Force Base.

The organization grew and inspired members over the next 65 years, until it merged with Community Financial Credit Union, a successful Colorado-based credit union with a history of growth.

In 2016, the two credit unions joined forces to create Blue, an organization that empowers its members to take control and unlock the potential of their money, life, and community.

The name ‘Blue’ reflects the Air Force roots of Warren Air Force Base (Air Force Blue) and the organization’s connection to the Rocky Mountain Front Range, open skies as well as promoting the idea that there is no limit to the members of Blue Federal Credit Union potential.

As a creator of authentic connections, Blue experienced rapid growth, with members joining from Colorado, Wyoming, and all over the world.

In 2020, the organization had another opportunity for growth when it acquired two branches formerly known as Liberty Savings Bank.

In 2021, Blue officially moved into their new World Headquarters building in the heart of Cheyenne. The building represents the culmination of 70 years of growth, while also looking forward to and expecting that growth to continue for many years to come. Blue currently has over 115,000 members worldwide, 19 physical locations, and over $1.8 billion in assets.

The organization continues to foster relationships with F.E. Warren Air Force Base and other local organizations that have been essential to its growth throughout the years.

At Blue, members find a lifelong partner excited to help them, their familieis and their community thrive, no matter the goal. Whether members are saving for a car, a house, a college education, retirement, or investing back in their neighborhood, Blue can light the way to help make their dreams a reality.

The Blue Foundation

The Blue Foundation is a separate business entity, but an invaluable partner to all of Blue’s community-connecting endeavors. The Foundation was launched to support, enhance and lead the organization’s non-profit charitable giving in the communities it serves.

For every donation dollar the Foundation receives, Blue matches it at up to 80%. This significantly multiplies the money the Blue Foundation has that it can do good with in local communities.

Budweiser Events Center to be Renamed the Blue Arena

Blue Federal Credit Union recently announced that the Budweiser Events Center in Northern Colorado will be renamed the Blue Arena. The new arena will host concerts, sporting events, and other entertainment opportunities for the community.

In addition to hosting exciting events, the Blue Arena will also serve as a welcoming space for all types of events and activities. Through its support of various organizations and projects throughout the community, Blue Federal Credit Union seeks to foster an inclusive atmosphere that encourages people to get involved and reach their full potential.

Mobile Apps Offered by Blue Federal Credit Union

App Store

Blue Federal Credit Union offers an app available on both iOS and Android. Through the app, customers can perform a variety of transactions such as accessing their account balances and making transfers.

They can also set up alerts and receive notifications when there is activity in their account. The app allows you to contact Blue Federal Credit Union customer service for assistance with the app.

There is no fee to download the app from the App Store or Play Store. It is free to use and accessible 24/7, allowing you to access your account anytime, anywhere.

Google Play

Blue Federal Credit Union offers a mobile banking app for Android users, available for download on Google Play.

The app allows users to check balances, view transaction history, transfer funds, and pay loans on the go. It also features unique security features, such as two-factor authentication and app-based checking.

Customers can also use mobile check deposit to upload checks directly into their account without the need for paper copies. This saves time and reduces costs while improving the efficiency of business operations.

With Blue Federal Credit Union’s app, customers can easily manage their finances and stay on top of their financial activities from anywhere in the world.

Doing Good

Blue Federal Credit Union is a community-based credit union that strives to help its members unlock their potential. In order to do so, the credit union offers a mobile-friendly banking experience, making it easy for its members to access their accounts and make payments from anywhere.

As part of its commitment to giving back to the local communities in which it operates, Blue FCU regularly donates money and resources to local causes and organizations.

Whether it is donating to charity or supporting local non-profits, Blue Federal Credit Union always looks for ways to help in the community and support its members.

10 Facts About Credit Unions

1. Credit unions are not-for-profit organizations, which means they are owned and controlled by their members.
2. Credit unions typically have lower fees and higher interest rates than traditional banks.
3. Credit unions are often community-based organizations, meaning they are focused on serving the needs of their local communities.
4. Credit unions have a democratic structure, meaning members have an equal vote regardless of how much money they have invested in the credit union.
5. Credit unions are required to have a volunteer board of directors, who are elected by the members.
6. Credit unions are insured by the National Credit Union Administration (NCUA), which is similar to the Federal Deposit Insurance Corporation (FDIC) that insures banks.
7. Credit unions are tax-exempt organizations.
8. Credit unions often offer unique products and services that are tailored to the specific needs of their members.
9. Credit unions typically offer financial education and counseling to their members.
10. Credit unions have been around for over 150 years, with the first one being established in Germany in 1849.

How Blue Federal Credit Union & Other Credit Unions Set Their CD Interest Rates

Credit unions, like Blue FCU, set their CD (Certificate of Deposit) interest rates based on a number of factors, including market conditions, the credit union’s financial condition, its investment strategy, liquidity, competition, and risk appetite.

Market conditions are a major factor in determining CD rates. Credit unions will typically set their CD rates based on the current interest rate environment. When interest rates in the economy are generally low, credit unions may offer lower CD rates to attract depositors. This is because when interest rates are low, depositors are less likely to find good investment opportunities elsewhere, so they may be more willing to accept lower rates from credit unions.

The credit union’s financial condition is also a significant factor in determining CD rates. A credit union that is in good financial shape may be able to offer higher rates to attract depositors. This is because a credit union that is financially stable is more likely to be able to meet its obligations to depositors, which makes it a more attractive investment opportunity.

The credit union’s investment strategy also plays a role in determining CD rates. A credit union that is focused on long-term investments may be able to offer higher rates on longer-term CDs. This is because the credit union can invest the money from the CD for a longer period of time, which allows it to earn more interest.

Liquidity is another important factor that credit unions consider when setting CD rates. Credit unions set their CD rates based on their liquidity, meaning how much cash they have on hand to pay out to depositors if they need to withdraw their funds before the CD matures. If a credit union has a high level of liquidity, it may be able to offer higher rates on CDs.

Competition is also a factor that credit unions consider when setting CD rates. Credit unions will look at the rates offered by other credit unions and banks in the area to ensure they are competitive and attractive to potential depositors.

Finally, credit unions also take into account their risk appetite when determining CD rates. A credit union’s risk appetite will also be a factor in determining CD rates as they will want to balance the risk and reward of their investment. A credit union with a higher risk appetite will be able to offer higher rates to depositors.

Overall, credit unions will use a combination of these factors to set the rates they offer on CDs, with the goal of attracting depositors while also ensuring they are able to maintain a strong financial position. They will balance the need to attract depositors with the need to maintain a stable financial position, and to make sure they are competitive with other financial institutions.

Income From Blue FCU CD & Taxes

Income from Blue Federal Credit Union CDs is taxed as interest income, which is considered ordinary income and is taxed at the federal, state and local level, if applicable. The interest income is reported on your federal tax return, on Form 1040, line 8a, and on Form 1040-SR, line 3a.

When you purchase a CD from Blue & Raisin, they will provide you with a Form 1099-INT that shows the amount of interest you earned on the CD during the year. This form is also sent to the Internal Revenue Service (IRS) to report the interest earned.

Interest income is generally taxed at your marginal tax rate, which is the rate at which your last dollar of income is taxed. Your marginal tax rate can be found on the tax rate schedule in the IRS tax code.

You may also have to pay state and local taxes on your CD income, depending on the state or local laws where you live. Some states do not tax interest income, while others may have a lower or higher tax rate.

It is always recommended to consult with a tax professional or financial advisor to determine the specific tax implications of your CD income and to ensure that you are properly reporting it on your tax return.

Awards Blue FCU Has Won

Blue Federal Credit Union has received several notable awards and recognition. Here are a few examples:

1. Wyoming Tribune Eagle Readers’ Choice Awards: Blue Federal Credit Union has been recognized multiple times in the Wyoming Tribune Eagle Readers’ Choice Awards. These awards highlight businesses and organizations that are preferred by the local community.

2. Best of Business Awards: Blue Federal Credit Union has been honored with the Best of Business Awards in various categories by local publications. These awards recognize the credit union’s excellence in delivering financial services to businesses and individuals.

3. CUNA Diamond Awards: Blue Federal Credit Union has received recognition at the Credit Union National Association (CUNA) Diamond Awards. This prestigious awards program acknowledges credit unions for outstanding marketing, advertising, and branding efforts.

4. Mountain West Credit Union Association Awards: Blue Federal Credit Union has been a recipient of multiple awards at the Mountain West Credit Union Association Awards. These accolades recognize achievements in areas such as community involvement, innovation, and member service.

Blue FCU CD Powered by Raisin Early Withdrawal Penalty

Early Withdrawal Penalty: Withdrawals may be made 7 days after opening. If you withdraw the balance from your Certificate prior to maturity, an early withdrawal penalty will be assessed based on the term of the Certificate and the principal.

The early withdrawal penalty may reduce the principal amount. Certificates that are renewed at maturity can be cancelled within 7 days of rolling over without early withdrawal penalty. The early withdrawal penalties are assessed as described below:

Certificate Term Early Withdrawal Penalty Less than 12 months 90 days simple interest on the principal at the rate in effect for the Certificate

12 months to 5 years 270 days simple interest on the principal at the rate in effect for the Certificate

Greater than 5 years 365 days simple interest on the principal at the rate in effect for the Certificate

Daily simple dividend rate is calculated by multiplying the dividend rate (not APY) by the amount of principal in your Certificate account and dividing by 365.

To calculate the early withdrawal penalty, multiply the daily simple dividend rate by the number of penalty days indicated above.

Blue FCU Contact Information:

Phone Number:
Main: 307-432-5400
Toll Free: 800-368-9328

Email Address: support@bluefcu.com

Address: www.bluefcu.com/locations

Raisin Contact Information:

Phone Number: 844-994-EARN (3276)
(Monday to Friday from 9:00 a.m – 4:00 p.m)

Email Address: support.us@raisin.com

Address:
85 Broad Street
New York, NY 10004

*National Savings Rate Average as published by FDIC