5% 1-year CD Milestone

The Self-Help Credit Union 1-year certificate of deposit finally hit 5% APY last week. The SHCU is the first financial institution (with federally insured CDs open to all) that is offering a 1-year CD that is not a special. However, it should be noted that SHCU CD rates change a little almost every day. So it may drop below 5% today. Some important points about SHCU include:

• Federally insured by NCUA
• $500 minimum deposit
• No early withdrawals are allowed
• Additional deposits can be made to a CD without changing terms
• Rate on a CD is not locked until application is processed

Refer to my previous post for more info.