Dedicated to Deposits: Deals, Data, and Discussion

6.00% 8-Month CD at a Los Angeles/New York CU (First Entertainment).


First Entertainment Credit Union
[Update 5/26/07: This 6.00% CD offer has ended.]

First Entertainment Credit Union is offering a 6.00% APY 8-month term share certificate. The minimum deposit is $1,000. The 6% requires a new or existing checking account. Without a checking account, you can still get a 5.50% APY. The offer ends on 5/31/07. Note, this special is displayed on their home page on the large image that alternates every few seconds.

Field of membership includes most individuals who work, live, attend school or worship in the Greater Los Angeles Area. You can also be eligible via select employee groups and via family members (and not just immediate family). See site for details. Membership requires a one-time fee of $5 and a minimum deposit of $5 into your Prime Share savings account.

Branches are located in the California cities Hollywood, Burbank, Culver City, Pasadena, Santa Monica, Los Angeles and Valencia. There's also a branch in New York, New York.

The credit union is federally insured by the NCUA (Charter # 68373). It has $603.0 million in assets and 53,252 members.

  Tags: New York, First Entertainment Credit Union , California, CD rates

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Comment #1 by Anonymous posted on
thanks a bunch Banking Guy, wouldn't have known without your efforts

Comment #2 by Anonymous posted on
The weekly summary said direct deposit is required to a FECU checking account to get the 6% APY 8 month CD. I opened three of them, and no one there asked me about that. I did open a checking account there, with my monthly dividends on the CD's deposited to my checking account. I did not see anything on the internet ad concerning direct deposit.

Thanks for a great site.

Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the report. Glad to read they're not pushing the direct deposit requirement.

The only place on their website that had info on this CD was that large image on the front page that alternates ads every few seconds. As of today, I no longer see the CD ad appearing. I hope they'll still honor this through 5/31 as the ad had stated. This ad also stated the direct deposit requirement.

Comment #4 by Anonymous posted on
I just opened an account today (5/15) in Santa Monica and the officer made it pretty clear that this offer would likely end very soon, perhaps even today. If you were thinking of opening the account, you should call ahead to check first.

Comment #5 by Anonymous posted on
Opened an account in NYC today (5/16). I was informed that the offer is ending TODAY.