Dedicated to Deposits: Deals, Data, and Discussion

6.00% 12-Month CD at an Ohio CU (Firefighters Community).

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Firefighters Community Credit Union
Update 11/05/07: The special 6% CD is no longer available.

Firefighters Community Credit Union will be offering a special Freedom Certificate with a 6.00% APY and a 12-month term. The minimum deposit is $500 with no maximum. It also has an add-on feature that allows unlimited deposit during the term.

Membership is open to anyone who lives, works, worships or attends school in Cuyahoga or Lake counties of Ohio. You can also be eligible to join via Select Employer Groups and via family. Please see the credit union's who can join page for more details. Membership requires a minimum $5 deposit in your savings account.

Branches are located in Cleveland, Broadview Hts and Willoughby, Ohio. This credit union is NOT federally insured by the NCUA. Instead it is privately insured by American Share Insurance. Financial information on this credit union is available at this ASI page.

  Tags: Firefighters Community Credit Union, CD rates, Ohio

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Comments
4 Comments.
Comment #1 by Anonymous posted on
Anonymous
Is anybody familiar with American Share Insurance? Or with a credit union that is not insured by NCUA? I can't really find any information on it. Is there any possibility that the credit union can cancel their insurance? Is it really a safe place to put my money? The 6% is really tempting if I could get comfortable with the insurance aspect?

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
American Share Insurance (ASI) is used instead of NCUA for deposit insurance at a few credit unions in the US. The biggest is Patelco CU in California. I have more discussion on Patelco and ASI here. Many credit unions use ASI to supplement NCUA insurance.

There is some more discussion of NCUA and ASI in this post.

1
Comment #3 by Anonymous posted on
Anonymous
This rate is no longer available.

1
Comment #4 by Banking Guy (anonymous) posted on
Banking Guy
Thanks, I've updated the post.

1