What are the current interest rates at I B E W LOCAL 56?

Current rates for I B E W LOCAL 56 include: 12-Month CD: 3.62%, 24-Month CD: 3.65%

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I B E W LOCAL 56

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I B E W LOCAL 56 Rates & Review September 2026

Q: How many branches does I B E W LOCAL 56 operate?

I B E W LOCAL 56 currently maintains approximately multiple branch location(s). Physical branches allow members to access in-person services such as notary consultations and safe deposit boxes.

Q: Is a member application needed to join I B E W LOCAL 56?

Yes, to access services at I B E W LOCAL 56, a member application is required. As a credit union, membership is based on specific eligibility criteria such as where you live, work, or your organizational affiliations.

Q: Is there a first-time homebuyer program?

Currently, I B E W LOCAL 56 does not list a specific first-time homebuyer program, but they provide a range of mortgage and home equity products to assist members with property financing.

Q: Are credit management and repair services offered?

While formal credit repair services are not currently listed, I B E W LOCAL 56 provides members with tools to manage their accounts and build a solid financial history.

Content reviewed by

Brian McKay

| Editorial Disclosure | ✓Fact Checked | Rates Last Updated and Verified: September 14, 2026

I B E W LOCAL 56's 36 Month CD rates are at 3.76%, CDs 36 Month rates are at 3.76%, CDs 36 Month rates are at 3.73%, CDs 24 Month rates are at 3.71%, 36 Month CD rates are at 3.70%. I B E W LOCAL 56's RV, Boat and Powersport Loan Rates are as low as 4.10%. MonitorBankRates evaluates the financial stability of I B E W LOCAL 56 with a 5.0 Star Rating, an A Overall Health Grade, and a Texas Ratio of 9.60%. Rates last updated and verified on 09/14/2026.

I B E W LOCAL 56 money market rates, and other rates, are continually updated to reflect market conditions. We recommend checking back frequently to get the best money market rates and other rates available. Have you opened an account or have any experiences at I B E W LOCAL 56? Share your experience about I B E W LOCAL 56 by leaving a review below, or read customer reviews before you decide to use I B E W LOCAL 56.

Verified Healthy 2026 Use This Badge on Your Credit Union Website

Overall Health & Safety Grade

Excellent Health Score: 95/100

MonitorBankRates Rating

5.0

Exceptional Out of 5.0 Stars

Texas Ratio

9.60%

Excellent Higher than avg

Health Trend

Worsening 12 quarters

Full history ›

I B E W LOCAL 56
IBEW Local #56 Federal Credit Union

962 W 20TH ST
Erie, PA 16502-2401

https://ibew56fcu.org

I B E W LOCAL 56 CD Rates

Product	Rate	APY	Term
36 Month Certificate	3.76%	3.76%	36 months
Min Deposit $50,000 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 36 Month	3.71%	3.76%	36 Month
Min Deposit $50,000 Details Pay monthly into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 36 Month	3.68%	3.73%	36 Month
Min Deposit $25,000 Details Pay monthly into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 24 Month	3.66%	3.71%	24 Month
Min Deposit $50,000 Details Pay monthly into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
36 Month Certificate	3.70%	3.70%	36 months
Min Deposit $1,000 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 36 Month	3.65%	3.70%	36 Month
Min Deposit $1,000 Details Pay monthly into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 12 Month	3.63%	3.68%	12 Month
Min Deposit $50,000 Details Pay monthly into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 24 Month	3.63%	3.68%	24 Month
Min Deposit $25,000 Details Pay monthly into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
6 Month Certificate	3.66%	3.66%	6 months
Min Deposit $50,000 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 6 Month	3.61%	3.66%	6 Month
Min Deposit $50,000 Details Pay at maturity into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 12 Month	3.60%	3.65%	12 Month
Min Deposit $25,000 Details Pay monthly into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 24 Month	3.60%	3.65%	24 Month
Min Deposit $1,000 Details Pay monthly into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 6 Month	3.58%	3.63%	6 Month
Min Deposit $25,000 Details Pay at maturity into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 12 Month	3.57%	3.62%	12 Month
Min Deposit $1,000 Details Pay monthly into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
6 Month Certificate	3.60%	3.60%	6 months
Min Deposit $1,000 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Certificates 6 Month	3.55%	3.60%	6 Month
Min Deposit $1,000 Details Pay at maturity into Regular Share Account Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%

I B E W LOCAL 56 Savings Rates

Product	Rate	APY	View More
Chrismas Club	0.30%	0.30%
No additional details. Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%

I B E W LOCAL 56 Home Equity & HELOC

Product	Rate	Points	APR	Term
Home Equity & Home Improvement	-	-	5.25%	60 months
Details As Low As; * Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Home Equity & Home Improvement	-	-	5.50%	90 months
Details As Low As; * Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Home Equity & Home Improvement	-	-	5.75%	120 months
Details As Low As; * Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Home Equity Mini-Mortgage	-	-	5.75%	120 Months
Details As Low As; Minimum $5,000 newly borrowed money; Appraisal required Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%

I B E W LOCAL 56 Auto Loan Rates

Product	Rate	Points	APR	Term
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	4.10%	24 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	4.40%	36 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	4.55%	48 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	4.75%	60 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Used Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	4.80%	24 Months
Details Rates as Low as; Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Used Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	4.95%	36 Months
Details Rates as Low as; Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	5.10%	72 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Used Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	5.20%	48 Months
Details Rates as Low as; Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Used Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	5.40%	60 Months
Details Rates as Low as; Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	5.50%	84 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Used Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	5.70%	72 Months
Details Rates as Low as; Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	6.40%	24 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	6.65%	36 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
All Other Used Titled Vehicles - Boats and Trailers, Travel Trailers, ATV's, Jet Skis, etc. Loan	-	-	6.90%	24 Months
Details Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	6.90%	48 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
All Other Used Titled Vehicles - Boats and Trailers, Travel Trailers, ATV's, Jet Skis, etc. Loan	-	-	7.15%	36 Months
Details Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	7.15%	60 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
All Other Used Titled Vehicles - Boats and Trailers, Travel Trailers, ATV's, Jet Skis, etc. Loan	-	-	7.40%	48 Months
Details Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
All Other Used Titled Vehicles - Boats and Trailers, Travel Trailers, ATV's, Jet Skis, etc. Loan - 24 Months	-	-	7.65%	24 Months
Details Model Year 2016-2017: Add 1.25% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
All Other Used Titled Vehicles - Boats and Trailers, Travel Trailers, ATV's, Jet Skis, etc. Loan - 60 Months	-	-	7.65%	60 Months
Details Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
New Vehicle Loans - All Automobiles, Trucks, Motorcycles and Motor Homes	-	-	7.65%	72 Months
Details Rates as Low as* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
All Other Used Titled Vehicles - Boats and Trailers, Travel Trailers, ATV's, Jet Skis, etc. Loan - 48 Months	-	-	8.15%	48 Months
Details Model Year 2016-2017: Add 1.25% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
All Other Used Titled Vehicles - Boats and Trailers, Travel Trailers, ATV's, Jet Skis, etc. Loan - 72 Months	-	-	8.15%	72 Months
Details Model Year 2018-2019: Add 0.75% APR* Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%

I B E W LOCAL 56 Other Rates

Product	Rate	Points	APY/APR	Term
Loan Special - $500	-	-	4.99%
Details Other rates or limits may apply based on lending criteria. Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Loan Special - 12 Months	-	-	4.99%	12 Months
Details Delay the first payment up to 50 days. Loan must be backed by a 10% share pledge. Borrower must be a credit union member for 3 months. Subject to normal lending criteria: credit worthiness, lack of delinquency, ability to repay, & Credit Commitee or Loan Officer approval. Only one "special" loan per account. Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Coverdell Ed Savings	0.76%	-	0.76%
Min Balance $25 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Coverdell Ed Savings	0.78%	-	0.78%
Min Balance $10,000 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Coverdell Ed Savings	0.81%	-	0.81%
Min Balance $50,000 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Holiday Shares	0.30%	-	0.30%
Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Investment Shares	0.30%	-	0.30%
Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Regular Shares	0.30%	-	0.30%
Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Share Drafts	0.03%	-	0.03%
Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Traditional & Roth IRA	0.76%	-	0.76%
Min Balance $25 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Traditional & Roth IRA	0.78%	-	0.78%
Min Balance $10,000 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Traditional & Roth IRA	0.81%	-	0.81%
Min Balance $50,000 Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%
Vacation Shares	0.30%	-	0.30%
Last Updated 09/14/2026 Institution Ratings 5.0 Star Rating A Health Grade ◈ Texas Ratio: 9.60%

Important: Rates, terms, and conditions are subject to change without notice. The rates displayed are for information purposes only. Please confirm all rates and terms directly with the financial institution. We strive to keep this information accurate but cannot guarantee it.
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution's data from MonitorBankRates.com, please contact us here.

Financial Health History

I B E W LOCAL 56’s Texas Ratio rose from 5.63% in Q2 2023 to 9.60% in Q1 2026, so its financial health has weakened over the past 12 quarters. Over the same period its Star Rating moved from 5.0 to 5.0 and its Health Grade from A+ to A. Lower Texas Ratios are healthier; the green zone below the amber 15% line is where a credit union must stay to qualify for the MBR Verified Healthy badge. Hover over or tap a point for that quarter’s figures.

Swipe the chart sideways to see every quarter.

Texas Ratio, left axis (lower is healthier)MBR Star Rating, right axis (1 to 5)Health Grade15% Verified Healthy limit (green zone below = healthy)

How to read this chart: the two lines move in opposite directions by design. The Texas Ratio (blue) measures trouble, so a rising blue line means more non-performing assets against capital. The Star Rating (green) and Health Grade chips measure strength, so they fall when the Texas Ratio climbs and recover when it drops.

Show the quarterly figures

Quarter	Total assets	Texas Ratio	Star Rating	Health Grade
March 31, 2026	$11M	9.60%	5.0	A
December 31, 2025	$11M	10.76%	5.0	A
September 30, 2025	$11M	7.79%	5.0	A
June 30, 2025	$11M	4.70%	5.0	A+
March 31, 2025	$11M	5.07%	5.0	A+
December 31, 2024	$11M	5.53%	5.0	A+
September 30, 2024	$11M	1.89%	5.0	A+
June 30, 2024	$11M	2.20%	5.0	A+
March 31, 2024	$11M	3.91%	5.0	A+
December 31, 2023	$11M	3.71%	5.0	A+
September 30, 2023	$11M	4.75%	5.0	A+
June 30, 2023	$11M	5.63%	5.0	A+

Source: NCUA 5300 call reports, MonitorBankRates analysis. Ratings shown are recomputed for each quarter with the current methodology and exclude member reviews.

Methodology & Data Sources

MonitorBankRates Star Rating

Our rating for I B E W LOCAL 56 is derived from comprehensive financial data published quarterly by the NCUA. Our proprietary rating system evaluates financial stability (including the Texas Ratio and capitalization) and combines it with member feedback (user reviews) to help you make informed banking decisions.

Texas Ratio

We calculate the Texas Ratio using standard industry methodology. This ratio compares the credit union's non-performing assets to its tangible common equity and loan loss reserves to assess financial health.

Rate Data Aggregation

We gather I B E W LOCAL 56 rates using proprietary online rate aggregation technology. Our systems scan constantly to provide the most recent rates available to our visitors.

Disclaimer: Interest rates are variable and subject to change without notice. While we strive for accuracy, rates can change rapidly based on market conditions. It is always advisable to check with I B E W LOCAL 56's official website for the most current offers and terms.

Credit Union Profile & Overview

Credit Union Name I B E W LOCAL 56

Website https://ibew56fcu.org

Address 962 W 20TH ST, Erie, PA 16502-2401

Phone 814-455-2270

Fax 814-455-4307

President Christian Kossbiel

CEO Charlene Hedderick

Full-Time Employees 3

Part-Time Employees 0

Branch Locations 1

ATM Locations 0

NCUA Insured ✓ Yes — Up to $250,000 per depositor

Financials

MonitorBankRates Star Rating

5.0 / 5.0 ★

Overall Health & Safety Grade

A (95/100)

Texas Ratio

9.60%

Return on Assets (ROA)

0.2884%

Return on Equity (ROE)

2.3053%

Non-Performing Loans Ratio (NPL)

2.80%

Total Assets

10,947,896

Total Amount of Shares and Deposits

9,554,239

Total Shares and Deposits < 1 Year

9,554,239

Total Insured Shares and Deposits > $250K (item 17 less item K)

9,554,239

Total Interest Expense (Sum of items 6 8)

14,766

Share Certificates

Number of Accounts for Share Drafts

354

IRA KEOGH Accounts

Number of Accounts for Regular Shares

2,254

All other shares

Net Worth Classification if credit union is not new (Based upon Call Report data only See instructions)

Well Capitalized

Net Worth Classification if credit union is a new credit union

Well Capitalized

Total Cash on Deposit (Amounts Deposited in Financial Institutions)

1,031,629

Total Liabilities

9,578,196

Source: NCUA — Last Updated 03/31/2026

2026 MBR Health & Safety Badge

I B E W LOCAL 56 earned the Verified Healthy badge

Display this badge on your website to show visitors your 2026 MonitorBankRates recognition. The badge links back to this profile page for independent verification.

Copy the HTML below and paste it into your website where you’d like the badge to appear. The badge image is hosted on MonitorBankRates — no need to download or upload anything.

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Frequently Asked Questions About I B E W LOCAL 56

How many branches does I B E W LOCAL 56 operate?

I B E W LOCAL 56 currently maintains approximately multiple branch location(s). Physical branches allow members to access in-person services such as notary consultations and safe deposit boxes.

Is a member application needed to join I B E W LOCAL 56?

Yes, to access services at I B E W LOCAL 56, a member application is required. As a credit union, membership is based on specific eligibility criteria such as where you live, work, or your organizational affiliations.

Is there a first-time homebuyer program?

Currently, I B E W LOCAL 56 does not list a specific first-time homebuyer program, but they provide a range of mortgage and home equity products to assist members with property financing.

Are credit management and repair services offered?

While formal credit repair services are not currently listed, I B E W LOCAL 56 provides members with tools to manage their accounts and build a solid financial history.

Does I B E W LOCAL 56 offer online and mobile banking?

Most modern institutions like I B E W LOCAL 56 provide digital access. This includes the ability to check balances, transfer funds, deposit checks via mobile app, and view statements online. You can usually find these services at their official website: https://ibew56fcu.org.