5.76% 60-Month / 5.50% 12-Month CD at a California CU (Bay Federal)

Bay Federal Credit Union still has some high rate certificates although the rates have gone down since my last report in June. The highest yield is 5.76% APY for a 60-month term. Terms from one to four years also have comptitive rates ranging from 5.50% APY for a 12-month term to 5.71% APY for a 48-month term. The minimum deposit is $10,000. Rates of 0.10% less are available with a $1K minimum. The 3 to 5 year CDs have a special bump-up feature that allows a one-time option to bump up the rate to a newer higher rate. The certificates are also available in an IRA.

Field of membership includes those who live, work, volunteer, worship or attend school in the California counties of Santa Cruz, San Benito or Monterey. See site for details. Membership requires a one-time membership fee of $5.

The credit union is federally insured by the NCUA (Charter # 12067). It has $556.9 million in assets and 57,530 members.

Tags: California, Bay Credit Union, CD rates, IRA rates