Dedicated to Deposits: Deals, Data, and Discussion

5.55% 7-Month CD Available Online for NC, SC, GA and FL Residents (First Federal)

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Georgetown Kraft Credit Union
First Federal is offering a 5.55% APY 7-month certificate of deposit. The minimum deposit is $1,000. It's available only online. The start of the application page states:
Currently we are servicing North Carolina, South Carolina, Georgia, and Florida for all products except for Health Savings Accounts. Health Savings Accounts are available for all states.

So it appears this CD is available to anyone in those states. I noticed in the application FAQ page, it states that the account will be funded by an ACH transfer from your existing account at another bank. Transfers will occur on the next business day.

Since their Health Savings Account is available to people in all states, and HSA's are not too common, I looked into what they offered. The rates range from 4.55% APY for balances over $15K to 3.30% APY for balances between $5K and $15K, and to 2.53% APY for balances from $500 to $5K.

Another unique product offered by First Federal is a Drug Savings Card Plan. I'm not sure how much of a deal this is.

For those who prefer opening a CD at a branch, the best CD rate is a 5.15% APY for a 14-month term. The bank has branches in several cities of South Carolina including the cities of Charleston, Hilton Head, Florence, and Myrtle Beach. The bank has been FDIC insured since 1934 (FDIC Certificate # 28994).

Thanks to the reader simplydope who mentioned this CD special in the finding deals post.
  Tags: South Carolina, Georgetown Kraft Credit Union, North Carolina, CD rates

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