KeyPoint Credit Union is offering a special certificate with terms from 8 to 11 months with a yield up to 6.00% APY. This requires a minimum deposit of $25k and direct deposit of net pay. Without direct deposit, the yield is 0.25% lower which still is a very competitve 5.75% APY. An extra 0.20% is available when the CD is opened in an IRA. So the max IRA certificate yield is 6.20% APY. The rates for a $10k minimum deposit are 0.25% lower. They also have a liquid access option in exchange for a 0.25% lower rate. This option allows you to make 3 deposits or withdrawals during the term.
Membership is open to those who live, work, worship or attend school in one of the following California counties: Alameda, Contra Costa, Sacramento, San Mateo, Santa Barbara, Santa Clara and designated areas of Ventura County. You can also be eligible to join through select employer groups or family relation. Please see the credit union's eligibility page for details. One downside with this credit union is a $35 one-time membership fee. Remember to try to get this waived if you join to open a CD. Often these fees are negotiable.
Branches are located in Concord, Cupertino, Milpitas, Pleasanton, Santa Clara, San Jose, Sunnyvale, Folsom and Goleta. KeyPoint is federally insured by the NCUA (Charter # 65299). It has $795.5 million in assets and over 70,994 members. There has been a lot of growth since my last year's post on this credit union.