6.25% 60-Month at a New Jersey CU (Paragon).

Paragon FCU increased the rate of its 60-month certificate of deposit from 6.00% to 6.25% APY. This rate is listed both in the top specials and promotion table and in the bottom CD and IRA rate table. The top table has a minimum of $50K. The bottom rate table has a minimum of only $10K for a Super CD. Paragon has been offering a 6% CD for the last several months.

The field of membership includes those who live, work, worship, or attend school in Bergen or Passaic County, New Jersey. There are additional communities in New Jersey and Pennsylvania that are included. Also, there's a long list of schools, companies and organizations which can qualify you for membership. Membership requires a $25 deposit into a Share account.

If you don't qualify for membership at Paragon, I would recommend Penfed which is also offering 6.25% CDs (see post).

The credit union is NCUA insured. It has $377 million in assets and 58,240 members.

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

[Edit 1/6/07: The rate of this 60-month CD has gone down to 5.75% APY]