Dedicated to Deposits: Deals, Data, and Discussion

6.00% 3-Month CD at a Virginia CU (Arlington Virginia)

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Arlington Virginia FCU is offering a special 6.00% APY 3-month certificate. The offer is good through March 31, 2007.

The CD will renew into a standard 12 month CD. Note, their current 12-month CD yield is only 4.90% APY so you'll likely want to close the CD at maturity. They do have some competitive long-term rates which includes a 5.50% APY for the 60-month CD. These have a bump-up feature.

The field of membership includes those who live, work, worship, volunteer, consistently do business or go to school in Arlington County plus their immediate household and family members.

The credit union is federally insured by the NCUA. It has $142.9 million in assets and 14,480 members.

Comments
3 comments.
Comment #1 by Anonymous posted on
Anonymous
Sorry to be dense, but does this mean you HAVE to leave your funds for the renewal period, for a total of 15 months, or could you pull out after just three months? From their website, I couldn't tell.

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Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
By default CD's typically automatically renew at the same term as the previous term. However, the rate for the new term will be based on the current rates. If the the CD will renew at a different term, the institution usually mentions this.

Banks and credit unions usually give a grace period when a CD matures. During the grace period, you're allowed to close the CD without penalty. You can also change terms or change the deposit amount during this grace period.

The grace period is usually between 6 and 15 days. I didn't get the grace period details for this credit union.

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Comment #3 by Anonymous posted on
Anonymous
I opened new membership account and 3 mo CD. They did a hard pull (Equifax).

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