Dedicated to Deposits: Deals, Data, and Discussion

7.62% 12-Month CD at a Maryland CU - $200K Max (SECU).


SECU Credit Union has an exellent special called the Celebration CD. It provides a bonus rate of 2.5% of the opening CD balance, and that amount will be credited when the CD is established. This is added on to the 5.0% APY of the 12-month certificate of deposit. This gives the CD an APY of 7.62%. The minimum deposit is $500 and the maximum is $200K. This is also available as an IRA CD. I just called and confirmed that this CD is available through this Saturday, October 21, 2006.

The field of membership includes alumni, full and part-time students, faculty and staff of several Maryland schools and universities. It also includes Maryland state employees and several other select employee groups. See site for details.

Branches are located in the Maryland cities of Baltimore, Annapolis, Berwyn Heights, Columbia, Glen Burnie, Hagerstown, LaVale, Rockville, Salisbury, Silver Spring and Towson.

The credit union is NCUA insured. It also has Excess Share Insurance which provides an additional $100K of private insurance in excess of the federal insurance limit. Also note, like FDIC insurance, the NCUA can provide coverage over $100K. See previous post for more info.

Credit for this find goes to this SlickDeals thread.