10% 10-Month CD at a Washington State CU - $1K Max* (Verity)
Oct 8, 2006 - 3:22 PM by Ken Tumin
Verity Credit Union is offering what it calls a 10 for 10 certificate special. New members can purchase one 10% APY 10-month certificate with a minimum/maximum deposit of $1K. A checking account is required. Current members are eligible for one 10 for 10 certificate for each new member they refer who also opens a 10 for 10 certificate. The offer is available from October 10 to 23, 2006.
This is similar to the 8% CD special that Chartway Credit Union had offered several months ago except it has only a $1K maximum deposit limit rather than Chartway's $8K. With a $1K maximum limit, the 10 month earnings would be about $37 over what you would earn with E-LOAN's 5.50% savings account (assuming no rate changes). However, there doesn't seem to be any limit to the number of referrals. Feel free to request for referrals in the comments of this post.
The credit union's field of membership includes all those who live, work, worship or go to school in any county within Washington State.
Verity is NCUA insured with $327 million in assets and over 26,000 members.
This is similar to the 8% CD special that Chartway Credit Union had offered several months ago except it has only a $1K maximum deposit limit rather than Chartway's $8K. With a $1K maximum limit, the 10 month earnings would be about $37 over what you would earn with E-LOAN's 5.50% savings account (assuming no rate changes). However, there doesn't seem to be any limit to the number of referrals. Feel free to request for referrals in the comments of this post.
The credit union's field of membership includes all those who live, work, worship or go to school in any county within Washington State.
Verity is NCUA insured with $327 million in assets and over 26,000 members.
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Anonymous - #1, Thursday, October 12, 2006 - 3:31 PM
I just got off the phone with a CSR and looks like if I join as a new member (dont have an a/c currently), I dont automatically get to open this 10 for 10 certificate. I need to refer another new member to make me eligible for the 10 for 10 special. The new member does not automatically qualify for the 10 for 10 special either. He/she needs to refer another new member to qualify for a 10 for 10 special. So essentially between my spouse and I, we get to qualify for one 10 for 10 deal. Their website seems to suggest that we could open one 10 for 10 certificate at the time of initial a/c opening and additional ones if we refer new members.
Given the $5 membership fee each and the hassle of opening new accounts by mail (dont live close by), I am not keen on this.
Banking Guy (anonymous) - #2, Saturday, October 28, 2006 - 3:25 PM
Offer has been extended to October 31, 2006.
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