6.25% 24-Month CD at a Multi-State CU and $100 Sign-up Bonus (Justice FCU).
Justice FCU is offering a special 6.25% APY 24-month share certificate. The minimum deposit is $1,000. A higher rate of 6.35% APY is available for a Jumbo 24-month CD with a $100K minimum. This is available for both a regular and IRA certificate. According to the membership disclosure there is a 180 day interest penalty for early withdrawal on CDs with terms of 13 months and longer.
JFCU is also offering a $100 bonus for joining, signing up for Free Web BillPay and paying one bill within the first month of signing up. The $100 will be credited to your JFCU account one month after your first bill has been paid. The offer lasts through 4/30/07. The CD small print does states that the "promotional APY of 6.25% / 6.35% cannot be combined with any other offers." So it's not clear if you can do both. But if the CD special ends before you can open the CD, at least you can receive this bonus.
Membership eligibility is based on employment in Select Employer Groups and membership in certain law enforcement organizations. The membership page states:
If you're not eligible to join Justice FCU through any of the employee groups listed above and you are not a relative of an eligible individual, you can still join Justice FCU by first becoming a member of the National Sheriffs' Association (NSA). Click here to join NSA!
The membership webpage takes you to the NSA online sign-up application. From here it's not clear what the membership fee is. The lifetime membership page implies that the annual fee is $35. You don't have to continue your membership in an association once you're a member of a credit union.
In addition to the NSA, membership into the National Native American Law Enforcement Association (NNALEA) qualifies you for JFCU membership (see JFCU's affiliated groups page). According to the NNALEA, membership is open to both Native and Non-Native Americans. Members do not have to be law enforcement officers. The National membership fee is $15.
JFCU's membership application is available online to be printed and mailed. It appears you can join and open a CD at the same time. The application also includes a designation for a POD Trust Account.
Branches are located in Washington DC, Los Angeles, San Diego, New York, Texas, Virginia and West Virginia. The credit union is federally insured by the NCUA. It has $393.6 million in assets and 43,036 members.
Thanks to the reader who mentioned JFCU and its bonus in the finding deals post.
Please refer to this 1st update post and this 2nd update post for additional info on JFCU and these promotions.
[Update 3/14/07: Added back link to NNALEA. Added link to third update.]
[Update 3/9/07: Removed IRA early withdrawal penalty exemption. Penalty applies to all. Added link to new post.]
[Update 3/7/07: Removed links to NNALEA until more info about this association is found. See comments.]