Dedicated to Deposits: Deals, Data, and Discussion

10% 7-Month CD ($1K Max) and $50 Direct Deposit Bonus at SoCal CU (Wescom) - Update


Wescom Credit Union is having a grand opening special at its Corona Valley branch. Through this Sunday (June 17th) you can get a 10.00% APY 7-month certificate. Unfortunately, it has a low maximum of $1,000 with a limit of one per member. The minimum deposit is $500. Another promotion being offered is a $50 bonus when you open your first Wescom checking account and sign-up for direct deposit. There's also a promotion for the kids. All special offers available only at the Corona Valley branch.

With a $1K deposit at 10% APY for 7 months, you'll earn about $29 over what you would earn in a 5% savings account. Both a husband and wife could open one for a total of $58 extra dollars.

Wescom seems to have these types of deals often. It had offered a similar grand opening special for another branch back in March.

Membership is open to those who live, work, worship or attend school in Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara or Ventura counties. There is a one-time membership fee of $15, and a minimum required deposit of $1 into the regular share savings account. This $15 fee is waived in this grand opening special. According to the service rep when I called in March, they don't do a hard credit inquiry when you apply for membership or accounts.

The credit union is federally insured by the NCUA. It's a large credit union with $3.7 billion in assets and 283,129 members.

Thanks to the reader who mentioned the special certificate in the finding deals post.

  Tags: California, CD rates

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