5.82% 60-Month CD at a Texas CU (Austin Telco)
Update: CD rates have fallen, but rates at Austin Telco FCU have remained competitive. Please refer to our Austin Telco FCU reviews and rates page for the latest rates.
Austin Telco FCU has some competitive rates on its long term share certificates. The jumbo CD's have the best rates which range from 5.61% APY for a 24-month CD to 5.82% APY for a 60-month CD. These require a minimum deposit of $95K. The rates for a CD with a minimum deposit of $1K range from 5.51% APY for a 24-month CD to 5.67% APY for a 60-month CD. The early withdrawal penalty is 180 days of interest. These are also available in an IRA.
Austin Telco is open to anyone living, working, worshiping or attending school in Austin's five county Metropolitan Area (Travis, Williamson, Hays, Bastrop and Caldwell Counties).
The credit union is NCUA insured. It has $427.5 million in assets and just over 59,000 members.
Banking Guy (anonymous) - #1, Tuesday, December 19, 2006 - 6:51 PM
Note, I confirmed that these rates are still available this month.
I learned that you can choose to have the interest either reinvested or paid quarterly. You can have this changed during the term.
Also, you're allowed partial early withdrawals without having to close the CD unless your balance falls below $1K. The 180-day interest penalty still applies but only applies to the amount withdrawn.
Anonymous - #2, Friday, November 14, 2008 - 1:18 PM
Called Austin Telco FCU on 11/14, and learned that 24 mo CD rate is not 5.51, but 3.87. When I told them that I had gotten the 5.51 info on this website, they said that they were not responsible for what's posted here...
Banking Guy (anonymous) - #3, Friday, November 14, 2008 - 5:45 PM
Yes, these rates are out-of-date. Please note the dates at the top of the posts. The rates are kept for history's sake. I've added a note to highlight this.
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