Dedicated to Deposits: Deals, Data, and Discussion

7.00% 12-Month CD at a Michigan CU - $10K Max (First Community)


First Community FCU has a special 12-month certificate of deposit with a yield of up to 7.00% APY (see pdf of rate table). The minimum deposit is $1,000. The credit union doesn't list many details of this special, but a reader sent me some of them. There's a cap of $10,000, and it requires a checking account with direct deposit. With that you'll earn 6% APY. You can receive an extra 0.25% added for each of following 4 services: an active loan or line of credit, Bill Payer or E-Statements, ATM or MasterCard Check Card and automatic monthly FCFCU loan payment. The E-Statements and the Check Cark should at least make it easy to get 6.50% APY.

Membership is available to any person who works, lives, worships, or attends school in Allegan, Barry, Berrien, Branch, Calhoun, Cass, Kalamazoo, St. Joseph, or Van Buren County. Membership requires a $5 minimum deposit into the savings account.

Branches are located in Kalamazoo, Portage, Parchment, Richland and Battle Creek, Michigan. The credit union is federally insured by the NCUA. It has $274 million in assets and 50,152 members.

Thanks to the reader who emailed me this special.

  Tags: Michigan, CD rates

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Comment #1 by Anonymous posted on
My husband and I went to the Plainwell office today and we each opened a checking account with a debit card and signed up for e-statements. We each purchased a CD for 6.5%. Thought maybe if we signed up for check protection for overdrafts we could get another 1/4% but we could not.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Glad both of you were able to at least get the 6.50% APY.