Dedicated to Deposits: Deals, Data, and Discussion

6.00% 8-Month CD at a California CU (San Mateo)


San Mateo Credit Union is offering a special 6.00% APY 8-month certificate. The minimum deposit is $2K and the maximum deposit per member is $100K.

The field of membership includes those who live, work or attend school in San Mateo County. You can also be eligible via select employer groups and family. See site for details. Branches are located in Redwood City, San Mateo, South San Francisco and Dale City, California.

The credit union is federally insured by the NCUA. It has $564 million in assets and 59,682 members.

Comment #1 by Anonymous posted on
They need you to be a member of the Credit Union first.And for that, you have to go to one of their branches. They cant mail the membership forms to you.

The CSR was very couteous though and according to her, this rate is there to stay for another 15 days or so at the very least.

Comment #2 by sree (anonymous) posted on
I just spoke to the CSR, they want the customer to come to their branch physiclly to open an account(CD needs an account). The membership fee is $10, the CD started last week itself, it may get closed at any time(open end date). if you work for a BBB compnay , you are eligible to become a member..
CSR said there is not special predefined rate of penalty but it wont be more then $70(I can not understand his logic..)

Comment #3 by Anonymous posted on
Not available for IRA account.

Comment #4 by Anonymous posted on
I am the writer of the "10:23 AM, December 26, 2006" anonymous blog.
Another thing that I just discovered. They need to see your (and whoever else you want to be with on your account) SSN Card or a copy of it.
They DO NOT want to see it in any other form or fashion. I gave them multiple options and they declined each one of them.
So make sure that you do carry the same when you go there!!


Comment #5 by Anonymous posted on
Alright...I got the account opened today and wanted to share some info with everyone.
Although the CSRs on the phone were adamant about the SSN Card, to my surprise, no one even bothered to see any kind of identification at the branch other than a valid id(driver's license). In fact they didnt even ask for a proof of my tie with "San Mateo County" in any way. All I had to tell them was that I work in Redwood City and thats it.No further proof required.[The CSR was overly insisting on a proof like Salary slip etc]
In a nutshell, it was a breeze and the staff was very friendly and courteous.
Dont even bother to talk to the CSRs .They just go by what the rule book says.

Comment #6 by Anonymous posted on
I believe this is no longer an active offer. When I checked a couple weeks ago, before opening my account, I was told offer would expire on Feb. 2 or upon attainment of goals. As I can no longer find offer on their site, I'm assuming the latter has occurred.

Comment #7 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the update. It does look like this special has ended.