Langley Federal Credit Union was founded in 1936 and is headquartered in Newport News, Virginia.

They are one of the top 100 credit unions in the US with over $3.2 billion in assets and just over 270,000 members.

Although they have just 20 branches scattered throughout the Hampton Roads area of Virginia, they accept new members nationwide and many of their accounts can be opened online.

Langley Federal Credit Union is federally insured by the NCUA (FDIC equivalent for credit unions) and currently offers some competitive yields on their certificates of deposit.

They offer 9 standard term CDs with durations ranging from 3 months to 5 years. They also have 1 promotional CD currently that comes with a 22 month term and a phenomenal APY (annual percentage yield) of 5.35%.

To see all of Langley Federal Credit Union’s CD rates and account details, continue reading our review below.

Langley Federal Credit Union CD Rates + Account Details

Most of Langley Federal Credit Union’s CDs require a minimum deposit of $500, however, their 3 month and 6 month CDs require a minimum deposit of just $100 to open.

Promotional CD Rates

Langley FCU offers just one promotional CD per the time of this writing – down from 2 promotional CDs last year.

This account must be opened with new money to Langley FCU and comes with a minimum deposit requirement of $500.

Standard CD Rates

To give these yields some context, the current national average for a 12 month CD and a 60 month CD sit at just 1.54% and 1.37% APY, respectively, according to FDIC data.

That said, the top APYs (annual percentage yields) on 12 and 60 month CDs offered by online banks and nationally available credit unions are now inching above 5.00% and 4.50%, respectively, with this promotional 22 month CD offer by Langley FCU among the rate leaders.

📌 Please note: Langley Federal Credit Union gives you the option to open their CDs as either standard CD accounts or IRA (individual retirement account) CDs. The interest rate and APY are the same for both, however, with IRA CDs Langley allows for additional deposits to the CD during the term, whereas with their standard CDs they only allow for additional deposits on CDs with terms of 12 months or less. You can learn more by reading their Truth-in-Savings disclosure.

Compounding and Crediting Interest

Interest is compounded monthly and credited to your certificate monthly. You may choose to have your interest dividends paid to another account, but then compounding won’t apply.

Grace Period and Early Withdrawal Fees

Langley Federal Credit Union has a 7 day grace period for their CDs. This means that upon your certificate of deposit’s maturity you have 7 calendar days where you can add or withdraw any and all funds penalty free. If nothing is done during this 7 day period, the CD will automatically renew with the same terms and whatever the going APY is at that time.

If you need access to your funds prior to your CD’s maturity date, you will have to pay an early withdrawal penalty fee.

The early withdrawal fees are as follows:

For all IRA CDs, early withdrawal fees are 180 days interest.

For standard CDs, early withdrawal fees are based on the term.

For terms 3 – 6 months, you’ll pay 90 days’ interest.

For terms 12 months or greater, you’ll pay 180 days interest.

How to Join Langley Federal Credit Union

As with many credit unions, Langley Federal Credit Union used to have limited eligibility access.

Today, however, their deposit accounts can be opened online and they offer membership to nearly every US citizen or legal resident 18 years or older with a valid social security card.

You will have to deposit $5.00 into a share savings account which functions as your ownership in the credit union to go along with any other accounts you may open.