Dedicated to Deposits: Deals, Data, and Discussion

5.65% 60-Month / 5.60% 48-Month CD at a California CU - $90K Min (LBS Financial).

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Update 9/22/07: CD rates have gone down. Please check credit union's website for latest rates.

LBS Financial Credit Union continues to have some high rates on its Jumbo share certificates although the rates have gone down some since my last report in April. Some of the competitive CD yields include a 5.65% APY 60-month, 5.60% APY 48-month, 5.55% APY 42-month and 5.50% APY 36-month. The Jumbo minimum deposit is $90,000. The yields are 0.10% less for a $50K minimum, 0.15% less for a $20K minimum and 0.20% less for a $2.5K minimum. There's also a 5-month special certificae with a yield that ranges from 5.10% to 5.25% APY based on the minimum deposit. It allows an additional one time deposit of $1K or more.

Field of membership includes those who reside or work or have an immediate family member who lives or works in Orange or Riverside County, or in one of several cities in Los Angeles County. See site for details. Membership requires a $5 minimum deposit into your share savings account and a $1 membership fee.

The credit union is federally insured by the NCUA (Charter # 68460). It has $964.7 million in assets and 116,903 members.
  Tags: California, CD rates

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Comments
2 comments.
Comment #1 by Anonymous posted on
Anonymous
Did you notice that the APY is given as "Anticipated APY" based on an "anticipated dividend rate"? This implies the rate is not guaranteed as it would be for all other CDs. Have you checked what this wording means?

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Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
I think they might mean if you choose to withdraw the earned interest rather than letting it be re-invested. In that case, the earnings will be less than the APY. Here's a copy from the certificates' small print:
APY is based on the assumption that dividends remain within the account. The dividend rate and APY are paid on the entire balance in the account. Withdrawals will reduce earnings

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