Dedicated to Deposits: Deals, Data, and Discussion

5.86% 60-Month CD at a Virginia CU (Richmod Postal)

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Richmond Postal Credit Union has several high yield certificates. The highest is a 5.82% APY 5-year share certificate. CD's with terms from 36 months to 54 months have an APY of 5.61%. The minimum deposit is $500. These CD's are also available as an IRA certificate. The 12-month Jumbo CD also has a high rate. The $50K minimum Jumbo has an 5.61% APY. The $100K Century CD has an 5.86% APY.

These CD's have several nice features. First they allow you to select a term two months under or three months over the displayed terms. So the 5.86% 60-month CD would be available in terms from 58 months to 63 months. Second, a one time per year withdrawal of $500 or more is allowed, and a one time per year addition of $500 or more is allowed without penalty if the minimum deposit requirement is maintained. This second feature applies only to the share certificates and not the IRAs.

The field of membership includes those who live, work, worship, volunteer, or attend school in Richmond, Virginia. There are also several select employee groups including area postal employees and retirees. See site for details.

The credit union is federally insured by the NCUA. It has $74 million in assets and 9,423 members.

Thanks to Richmod Bank Deals who mentioned this credit union in the finding deals post.


Comments
Comment #1 by Richmond Postal Credit Union (anonymous) posted on
Richmond Postal Credit Union
For Share Certificates only, a one time per year withdrawal of $500 or more is allowed, and a one time per year addition of $500 or more is allowed without penalty if the minimum deposit requirement is maintained. Flexible terms are allowed for all Share Certificates and IRA Certificates. The term may be decreased by as many as two months or increased by as many as three months from the term displayed on the above chart. A minimum deposit of $50,000 is required and must be maintained throughout the term of the certificate for the 10-15 Month Jumbo Share and Jumbo IRA Certificate. A minimum deposit of $100,000 is required and must be maintained throughout the term of the certificate for the 10-15 Month Century Share Certificate. (The Century Share Certificate is not offered as an IRA Certificate). For all other Share and IRA Certificates, a $500 minimum deposit is required and must be maintained through out the term of the certificate. The term selected will determine the applicable dividend rate and APY. A penalty may be imposed for early withdrawal. The dividend rate and annual percentage yield may change at any time as determined by the credit union's Board of Directors. For Share Certificates and IRA Share Certificates, the dividend rate and the APY at the time of purchase will remain the same until the maturity date of the Share or IRA Certificate.

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