Dedicated to Deposits: Deals, Data, and Discussion

7% 6-Month CD at a CA Credit Union - $5K Max (Pacific Service) - Update

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Pacific Service Credit Union continues to offer a 7% APY 6-month certificate for new members. The maximum deposit is $5,000. The minimum is $1,000 for those over 21 and $100 for those 21 and under. I had first reported on this back in May. It looks like they're continuing this special into the New Year.

They no longer have the 5.50% 15-month add-on CD that I reported on in August. Current rates for the CD's are 5% and 5.25% APY. They still have the same 5.25% APY 30-month add-on CD.

A reader noted that he was able to open 3 of the 7% CD's for 3 members of his family, and that everything can be done online. He also pointed out that they will make the initial $5 deposit in the savings account as a 'thank you' for applying online.

The credit union's field of membership includes residents of the following California counties: Alameda, Contra Costa, Fresno, Marin, Napa, Placer, Sacramento, San Francisco, San Mateo, Santa Clara, Solano or Sonoma. You can also be eligible via select employee groups and via family members (including nephews, nieces and cousins). See website for details.

Branches are located in San Francisco, Pleasant Hill and Fresno. The credit union is federally insured by the NCUA. It has 68,000 members and $1.07 billion in assets.

Thanks to Sree who mentioned this in the finding deals post.

[Edit 1/6/07: Corrected and clarified info provided by reader]

Comments
6 comments.
Comment #1 by Anonymous posted on
Anonymous
how do you open 3 CD? Using differnet family member?

1
Comment #2 by Sree (anonymous) posted on
Sree
You got it right.. I opened 3 differnet CDs on different members of my family..

1
Comment #3 by Anonymous posted on
Anonymous
Do you know if they do a hard credit inquiry as part of opening an account with them?

1
Comment #4 by Banking Guy (anonymous) posted on
Banking Guy
Sree, thanks for the clarifications. I've updated the post with this.

1
Comment #5 by Sree (anonymous) posted on
Sree
Anynomous : No Hard Enquiry.. and no Credit enquiry at all for Opening CD and getting $5 thank you bonus, I got this conformed before opening the CDs

1
Comment #6 by Sree (anonymous) posted on
Sree
Thanks Banking Guy...

1