Dedicated to Deposits: Deals, Data, and Discussion

5.97% 24-Month CD at a California CU (Los Angeles)


Even though the 6% 6-month CD that I reported on last month has ended, Los Angeles FCU still has high rates on its standard CDs with terms of 24 to 35 months. The best rate is 5.97% APY for a Senior Jumbo share certificate. You must be 55 years or older for the Senior Share Certificates, and the Jumbos have a minimum deposit of $100K. The APY is 5.81% for a Senior Share Certificate with a $1K minimum or a plain Jumbo CD, and the APY is 5.66% for a plain CD with only a $1K minimum deposit. These CDs are also available in Traditional and Roth IRA accounts and in Coverdell Education Savings Accounts. The yield for these is 5.81% APY with a minimum deposit of $500.

The field of membership includes members of the Los Angeles Charitable Association, Inc.. It has a membership fee of at least $1. You can be immediately eligible via select employee groups and by family. See site for details.

Note, several readers reported last month that the credit union changed the rules of eligibility so that members of the LA Charitable Association had to also live in the LA area. Please refer to the comments of my previous post for more info.

There's a $5 credit union membership fee (can be waived with a LAFCU Visa card application), and membership requires a $5 balance in your share savings account. To avoid monthly fees, you must maintain a $50 balance.

The credit union is federally insured by the NCUA. It has $571 million in assets and 43,624 members.

  Tags: California, CD rates

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