6% 6-Month CD at a Florida CU - $20K Max (MIDFLORIDA)

MIDFLORIDA FCU is advertising a 6.00% APY 6-month certificate. The minimum deposit is $1,000 and the maximum is $20,000 per household. It requires new money and an Investors Savings Account with a $10,000 minimum. The Investors Savings Account is currently paying 5% APY for deposits of $10K and above. This special doesn't seem to be listed at the credit union's website. It was advertised in yesterday's Tampa Tribune. The ad is available online here.

The requirement of the Investors Savings Account hurts the deal, but it's still a decent deal for a total $30K deposit. Assuming the yield on the savings account remains at 5%, the combined yield for a $30K deposit would be about 5.67% APY.

Field of membership includes those who live, work, worship or attend school in Polk, Highlands, Okeechobee, Sumter, Hardee County or the Poinciana area. Membership requires a minimum deposit of $5 into the share savings account. A $100 minimum balance is required to avoid a low balance fee.

Branches are located in the Florida cities of Arcadia, Auburndale, Bartow, Haines City, Lake Wales, Lakeland, Okeechobee, Poinciana, Sebring, Wauchula and Winter Haven. The credit union is federally insured by the NCUA (Charter # 23079). It's a large credit union with $1.1 billion in assets and 121,621 members.

Tags: MIDFLORIDA Credit Union, CD rates, Florida