Dedicated to Deposits: Deals, Data, and Discussion

5.96% 12-Month / 5.80% 24-Month CD at a Georgia CU (MACO Educators)

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MACO Educators FCU is offering a special 5.96% APY 12-month certificate. The minimum deposit is $500. It also has high rates on its standard share certificates especially for deposits over $50K. The highest rate is 5.80% APY for a term of 2 years.

Field of membership includes members of the GettingAhead Association. According to the website, "membership is open to any individual who is genuinely committed to improving their own financial well-being." There's a $5 fee to join this association. Employees and students of several select groups can be immediately eligible to join the credit union without joining the association. Membership into the credit union requires a minimum $10 deposit into a savings account. The membership application is available online. Note, it's intended to be printed and mailed (that's why the form isn't secure).

Branches are located just northwest of Atlanta, Georgia in the cities of Kennesaw, Marietta, Dallas and Woodstock. The credit union is federally insured by the NCUA. It has $130.4 million in assets and 25,685 members.

  Tags: Georgia, CD rates

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Comments
Comment #1 by Anonymous posted on
Anonymous
I just opened a cd with MACO and their reps were very accomodating (although the phone wait was sometimes long). I needed to open the account and move funds the same day since it was the last day of a grace period at another institution where my CD had matured.

I was able to open the account via faxed application, including two forms of ID as well as my apllication to join Getting Ahead Assoc (required to qualify for membership). I wired the funds, and the $5 share account minimum and Getting Ahead membership fee were deducted from that. No incoming wire fee.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Glad to read of their good customer service.

1
Comment #3 by Anonymous posted on
Anonymous
Anon, do you happen to know who you spoke with? I was told that there was no way they could accept a fax of the application (even if originals were in the mail).

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Comment #4 by Anonymous posted on
Anonymous
I faxed my application, etc. through Holly (with some assist from Crystal).

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Comment #5 by Banking Guy (anonymous) posted on
Banking Guy
Looks like the 5.96% 12-mo CD special is over as of 3/3/07. The rate is now 5.48% APY.

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Comment #6 by Banking Guy (anonymous) posted on
Banking Guy
The 2-year CD rate has now fallen as of 3/17/07 to 5.54% APY.

1