7.00% 7-Month CD at a Houston CU - $7K Max (MemberSource)

MemberSource Credit Union is offering a special 7.00% APY 7-month certificate. The minimum deposit is $1,000. The maximum deposit limit is $7,000. You can qualify to open an additional CD for each friend or family member you pass this offer to who joins MemberSource and opens a 7-month CD too. There doesn't seem to be a limit to the number of referrals. Interest will be paid at maturity of the certificate. The offer is good through 11/30/06.

For each $7K CD you can get, you'll earn about $61 over what you would earn at E-LOAN's 5.50% savings account (assuming no change of interest rate at E-LOAN).

Feel free to request for referrals in the comments. This is very similar to the 8% Chartway CD deal last June. But even with a referral, you'll need to be eligible for membership into the credit union. The field of membership includes those who live, work, worship or attend school within a ten-mile radius of MemberSource Credit Union's offices. You can also qualify through select employee groups and by family relation. See site for details.

MemberSource has 3 branches in Houston, and one in The Woodlands, Texas.

The credit union is NCUA insured. It has $163 million in assets and 24,147 members. It's not a large credit union so there's a greater chance that it could pull the deal early if the response is high.

Credit for this find goes to the reader who mentioned it in the finding deals post. Thanks!