Dedicated to Deposits: Deals, Data, and Discussion

5.75% 7-Month CD at a California CU (OCTFCU)


OCTFCU is offering a special 0.25% interest rate increase on a new or renewing share certificate or IRA certificate including currently available promotional CDs. The offer is good through 1/31/07. Limit one dividend rate increase per Membership.

Their current promotional share certificate is a 5.50% APY 7-month CD with a minimum of $500. So with the promo the rate will be around 5.75% APY. It allows additional deposits during the term up to the initial opening balance.

OCTFCU also has very competitive long term CDs with rates varying by term and by deposit amount. These include a 5.70% APY 5-year CD and a 5.50% APY 24-month CD with a minimum of $50K (see rate sheet). These rates are before the extra 0.25%.

The field of membership is primarily employer based. Eligible employers include most schools in Southern California. See website for further details. There is a $15 one-time membership fee, but a reader mentioned several ways to get this reduced or waived in my previous post.

Branches are located throughout Southern California including the cities of Ahaheim, Irvine, Cerritos, Fullerton, Cypress and Santa Ana.

OCTFCU is federally insured by the NCUA. It's a large credit union with over $6.6 billion in assets and almost 349.5K members.

Thanks to the reader who mentioned this special in the finding deals post.

Comment #1 by Anonymous posted on
The $15.00 membership fee is waived for all eligible persons and family members until January 31, 2007. Include promo code "GIFT" if applying on line or mention "The Gift of Membership" if applying at a branch.