Dedicated to Deposits: Deals, Data, and Discussion

5.75% 36-Month CD / 5.50% 18-Month CD at an Arizona CU (Arizona Central)


Arizona Central Credit Union
Arizona Central Credit Union is offering very competitive rates on its certificates. These include a 5.75% APY 36-month CD, a 5.60% APY 24-Month CD, a 5.50% APY 18-month CD, a 5.40% APY 12-month CD and a 5.20% APY 6-month CD. All have a minimum deposit of $1,000 and are also available as an IRA certificate. The early withdrawal penalty is 30 days of interest for terms of one year and less and 90 days of interest for terms over one year.

One important detail is that theses CDs have no grace period and will automatically renew at maturity. At first I thought this might make it impossible to close the CD without taking the penalty, but after I contacted the credit union, I was told that you can call the credit union before the maturity date to have it closed or changed. By default it'll renew into a 12-month CD.

Field of membership includes Arizona residents ages 55 or older, Arizona residents who currently hold, or have held, membership in an out-of-state credit union, members of the Baptist religion, or members of the Mormon religion. There's also a long list of Select Employee Groups. Seems like any Arizona resident could become eligible by joining an out-of-state credit union that's open to all. Membership requires a $5 one-time fee and a minimum $25 deposit into a savings account.

Branches are located in the Arizona cities of Chandler, Flagstaff, Glendale, Phoenix, Scottsdale, Show Low, Tempe and Tucson. The credit union is federally insured by the NCUA (Charter # 62881). It has $448.7 million in assets and over 77,235 members.

Yesterday I posted on another good Arizona CD deal at Pinal County Federal Credit Union (see post). This one has a 7% APY for a 7 month term with no maximum deposit limit. However, its membership is more restrictive and it's scheduled to end on July 17th.

  Tags: Arizona Central Credit Union, Arizona, CD rates, IRA rates

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