Dedicated to Deposits: Deals, Data, and Discussion

5.60% 12-Month / 5.55% 6-Month CD at a Central Florida CU (Fairwinds).

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Fairwinds Credit Union
Update 9/22/07: CD rates have changed. Please see new Fairwinds post for more info.

Fairwinds Credit Union just did a rate bump on several of its certificate terms. The 12-month CD yield was raised by 0.10% to 5.60% APY. The 6-month CD yield was raised by 0.11% to 5.55% APY. The longer term CD rates remain very competitive with yields ranging from 5.55% APY for a 24-month term to 5.65% APY for a 60-month term. The minimum deposit is $500. An extra 0.05% on the rates is applied for Jumbo CDs with a minimum of $100K. Also, members who've earned relationship rewards can receive yields up to 6.05% APY.

With CD rates going down at other banks and credit unions, I was surprised to see these rate increases today. I had just posted on Fairwinds 10 days ago.

Field of membership includes those living or working in the following Central Florida counties: Brevard, Polk, Lake, Orange, Osceola, Seminole and Volusia. There's also a large list of select employer groups. In addition, active or retired military personnel or dependents receiving military benefits are eligible.

Membership application can be done online. Accounts can be funded using an electronic transfer from another financial institution. The cost of membership is a little higher than typical: $10 fee plus a minimum deposit of $50 to their share savings account.

Branches are located in Orlando and throughout Central Florida. Fairwinds is federally insured by the NCUA (Charter # 68417). It's a large credit union with $1.45 billion in assets and 135,892 members.
  Tags: Fairwinds Credit Union, CD rates, Florida

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