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Blue Federal Credit Union CDs review

Competitive rates, but a minimum of $1,000 is required to open an account.

Blue Federal Credit Union provides to its members CDs with terms from six months to five years with rates ranging from 0.15% APY to 1.10% APY. For savers who want a little more flexibility in how much they save, Blue offers a 30-month expandable CD that allows savers to add to their balance at any time. But you’ll need at least $1,000 to open a CD and you’ll need to become a Blue Federal Credit Union member.

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1-year APY


3-year APY


5-year APY


Star rate3.5
6-month APY0.15% on CDs of $1,000 to $49,999.99
0.2% on CDs of $50,000 to $99,999.99
0.25% on CDs of $100,000+
1-year APY0.3% on CDs of $1,000 to $49,999.99
0.35% on CDs of $50,000 to $99,999.99
0.4% on CDs of $100,000+
2-year APY0.45%
30-month APY0.5%
3-year APY0.55% on CDs of $1,000 to $49,999.99
0.6% on CDs of $50,000 to $99,999.99
0.65% on CDs of $100,000+
4-year APY0.7%
5-year APY1%
Early withdrawal penalty90 days interest for terms of
180 days interest for terms of
240 days interest for terms of
Minimum deposit to open$1,000
Interest compoundingDaily

Review by

Matt Miczulski is an investments writer at Finder. After paying off $30,000 in debt in a little more than a year, he applied what he learned as a writer at FinanceBuzz, where he specialized in finance news, banking, debt and travel. He has been featured on MSN, Best Company, Money Done Right and Recruiter.

Expert review

A CD through Blue Federal Credit Union might make sense for existing customers who prefer to keep all their banking products under one roof. But overshadowing its competitive rates is the minimum $1,000 deposit you’ll need to open an account. While it’s not the highest minimum deposit we’ve seen, it’s higher than other banks that allow you to open a CD with $250 to $500.

But to earn it’s highest rate at 1.10% APY, you’ll need to open a five-year CD and put in at least $100,000. Plus, unlike most banks that give you a 10-day grace period after your CD matures, you’ll have seven days to let Blue Federal know what to do with your funds.

For example, Quontic Bank gives you a 10-day grace period and earns a slightly higher rate for its five-year term at 1.11% APY. And you’ll only need a $500 opening deposit to start earning it as opposed to Blue Federal’s hefty $100,000 requirement.

How do I open a Blue Federal Credit Union CDs?

Blue’s online application form is currently down. You’ll need to make an appointment to open an account at one of it’s branch locations. Schedule an appointment in six steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. Select Join and then Open an Account.
  3. Select the Click Here button to get to the appointment form.
  4. Choose Join Blue from the Categories section and then Personal Account from the Services column.
  5. Choose your nearest location and your preferred language. Then select a date and time for your appointment.
  6. Enter your specifics, including your full name, email, mobile number, appointment details and then hit Book Appointment.


Compared to some other credit unions, Blue Federal Credit Union is flexible when it comes to who can join. Membership is extended to:

  • Anyone whose family or household member who’s already a Blue member.
  • Anyone who works at one of Blue’s many employer partners.
  • US government civilian or military personnel who work or are assigned to Francis E. (FE) Warren Air Force Base (AFB) in Wyoming.
  • Employees of the FE Warren AFB Air Force Exchange.
  • Contractors who regularly work at FE Warren AFB.
  • Members of the Wyoming Army National Guard, Wyoming Air National Guard and US Naval Reserves who are stationed in Wyoming.
  • Active or retired members of the US Armed Forces, or their dependents or dependent survivors who receive benefits or services from FE Warren AFB.

If you don’t meet any of these eligibility requirements, you can also join Blue by making a one-time $5 donation to the Blue Foundation. This is in addition to the one-time $5 membership fee required by all members upon joining to become a share owner in the credit union.

Required information

Blue doesn’t specify its documentation requirements, but you typically need to provide the following when applying for membership with a credit union:

  • Name, address and phone number
  • Date of birth
  • Social Security number
  • Government-issued ID
  • A bank account or credit card to fund your new account

Funding options

Blue members can fund their CDs by transferring funds from one of their connected Blue accounts or by using Blue’s MoneyMover feature to transfer funds from a linked external account.

2 benefits of a Blue Federal Credit Union

Blue members who open a CD benefit from the following:

  • Competitive long-term rates even on the lowest balances. Blue pays a competitive 1% APY on its 5-year term CDs on balances as low as $1,000. Other credit unions often require higher balances to get this high of a rate.
  • 30-month expandable CD. Blue offers a 30-month expandable CD that allows you to add to your balance at any time over the duration of the CD. The rate stays the same and early withdrawal fees still apply.

3 potential drawbacks to consider

But these drawbacks are also worth considering:

  • Minimum balance requirements. You’ll need at least $1,000 to open a CD with Blue. While it’s not the highest minimum deposit requirement we’ve seen, it’s still higher than other CDs that allow you to open an account for as low as $250 to $500.
  • High minimum balance to earn the highest rate. Blue offers a top rate of 1.10% APY, but you need a minimum balance of at least $100,000 on its five-year term to earn it.
  • Shorter grace period. Compared to the standard 10 days, you only get a seven-day grace period to decide what to do with your CD’s funds after it matures.

Compare Blue Federal Credit Union CDs rates with other CDs

Use this table to compare how Blue Federal stacks up with other CDs by considering rates and minimum opening deposits.

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 4-year APY 5-year APY
Quontic Bank CD
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less
Bread Savings CDs
With a $1,500 minimum deposit, you'll receive competitive interest rates and no hidden fees with this CD. FDIC insured.
CIT Bank Term CDs
Choose from a range of terms with no maintenance fees and $1,000 minimum to open.
State Exchange Bank CD
Locally-owned independent community bank. FDIC insured. No fees.
Ponce Bank CD
Open a 5-month, 13-month or 48-month CD with some of the highest interest rates available today

Compare up to 4 providers

How do I cash in a CD?

Blue provides a grace period of seven days after a CD matures to either cash it out or move the funds into a different term.

If a CD is cashed out before it reaches maturity, Blue Federal Credit Union charges the following early withdrawal penalties:

  • Terms of 12 months or less: 90 days of dividends on the amount withdrawn
  • Terms of one to three years: 180 days of dividends on the amount withdrawn
  • Terms of three or more years: 240 days of dividends on the amount withdrawn

How to contact Blue Federal Credit Union customer service?

Contact Blue in three ways:

  • Call 800-368-9328, available 24/7.
  • Email
  • Live chat is available on weekdays from 9:00 a.m. to 4:00 p.m. MT.

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