Dedicated to Deposits: Deals, Data, and Discussion

6.00% 61-Month CD at a Michigan CU (Telcom)

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Vibe Credit Union
Telcom Credit Union is offering a special 6.00% APY 61-month certificate of deposit. The minimum deposit is $5,000. It's only available to existing members or new members who are Michigan residents.

The credit union has offered similar specials in the past. Last September it had a 6.25% 61-month CD special. This is the first time I've noticed that they've restricted the special to Michigan residents. With such easy eligibility, perhaps they had too many out-of-state people taking advantage of past specials.

The Field of membership is open to everyone by virtue of a $2 donation to the Salvation Army Bed and Bread Program. See site for details. Membership requies a minimum $5 deposit in the share savings account. Also, there's a $2 monthly fee if your combined average monthly balance of all deposit accounts is under $500.

Branches are located in Novi, Southfield and Canton, Michigan. The credit union is federally insured by the NCUA (Charter # 62236). It has $415.9 million in assets and 34,388 members.
  Tags: Vibe Credit Union, Michigan, CD rates

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