Dedicated to Deposits: Deals, Data, and Discussion

5.75% 7-Month CD at a New Jersey CU (Garden Savings)

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Garden Savings FCU is offering a special 7-month certificate of deposit with a yield of 5.75% APY. The minimum deposit is $500, and it has no maximum deposit. New money is required. It's not listed on the website. A reader emailed me info on this, and I called today for additional details.

Membership is open to those who live, work, worship, or attend school in Newark, Elizabeth, or Jersey City. In addition, you can be eligible to join via Select Employer Groups and via family. Please refer to their membership page for more details. Membership requires a minimum deposit of $5 into the share savings account.

Branches are located in Parsippany, Newark, Whippany, Montville and Morristown, NJ. The credit union is federally insured by the NCUA (Charter # 18710). It has $165.4 million in assets and 16,108 members.

Thanks to the reader who emailed me info on this special.

  Tags: CD rates, New Jersey

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Comment #1 by Ames Tiedeman (anonymous) posted on
Ames Tiedeman
Interest rate are going lower, Gold is going higher, Oil is going higher, inflation is going higher, the dollar is going lower. What is wrong with this. Everything! At some point the FED is going to have to raise rates bigtime. We are in a very, very precarious situation at the moment.

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