5.50% 7-Month CD at a California CU (Cal State 9)
Nov 4, 2007 - 3:25 PM by Ken Tumin
Update 11/04/2007: Cal State 9 has been placed into conservatorship under the NCUA. Please refer to this post for more info.
Cal State 9 Credit Union has lowered the rate on its 7-month special CD from 6% to 5.50% APY. Everything else remains the same. The minimum deposit is $5K, and the maximum deposit is $50K. It's only available for new members.
The 6% ended last Friday. Nevertheless, the 5.50% is still a good deal. The special still isn't listed at the credit union's website. A reader emailed me info on this change. My last post on this CD was in September.
Membership is open to those who reside, work or attend school in the following California counties: Alameda, Contra Costa, San Francisco, Sacramento, or Santa Clara. Membership is also open to students, employees and and those in alumni associations of certain universities. See the membership page for the full details. Membership requires a $5 membership fee and a minimum deposit of $10 in the regular share savings account. Note, a $200 minimum is required to avoid $5/month fee. This is waived if you open an additional account like a CD or checking account.
Branches are located in Berkeley, Oakland, San Francisco, Hayward and Pleasant Hill. The credit union is federally insured by the NCUA (Charter # 64449). It has $463.7 million in assets and 29,659 members. The credit union is rated 2 out of 5 stars at Bankrate.com (Below peer group).
Thanks to the reader who emailed me this update.
Cal State 9 Credit Union has lowered the rate on its 7-month special CD from 6% to 5.50% APY. Everything else remains the same. The minimum deposit is $5K, and the maximum deposit is $50K. It's only available for new members.
The 6% ended last Friday. Nevertheless, the 5.50% is still a good deal. The special still isn't listed at the credit union's website. A reader emailed me info on this change. My last post on this CD was in September.
Membership is open to those who reside, work or attend school in the following California counties: Alameda, Contra Costa, San Francisco, Sacramento, or Santa Clara. Membership is also open to students, employees and and those in alumni associations of certain universities. See the membership page for the full details. Membership requires a $5 membership fee and a minimum deposit of $10 in the regular share savings account. Note, a $200 minimum is required to avoid $5/month fee. This is waived if you open an additional account like a CD or checking account.
Branches are located in Berkeley, Oakland, San Francisco, Hayward and Pleasant Hill. The credit union is federally insured by the NCUA (Charter # 64449). It has $463.7 million in assets and 29,659 members. The credit union is rated 2 out of 5 stars at Bankrate.com (Below peer group).
Thanks to the reader who emailed me this update.
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Anonymous - #1, Thursday, October 4, 2007 - 6:06 PM
I am glad that I was able to snap the 6% deal before it gets sick of Fed Rate cuts
Here is the full ad : http://newspaperads.insidebayarea.com/ROP/ads.aspx?advid=432618&adid=5128318&cat=6497
Anonymous - #2, Friday, October 5, 2007 - 9:08 AM
I just discovered this immensely useful blog and was very impressed at the research which must have gone into supplying such timely data so quickly.
In the same spirit, readers of this blog may be interested in the service at the Credit Card Balance Transfers site which allows credit card holders continuous access to 0 APR credit cards (basically for as long as there are such credit cards available). An automated process enabled on the site sends users an email when the current card's 0 APR period is nearing an end (ten days prior to this, to be exact) and allows the user to transfer the entire balance to a fresh 0 interest card with a couple of clicks of the mouse. This prevents any interest being charged.
The user may transfer the balance to any card of his or her choice and the service is free to use.
Anonymous - #3, Friday, October 5, 2007 - 11:04 AM
That may prevent interest from being charged, but it will also lower your credit score from having your credit pulled so much and having so many accounts opened in a short time. Better to get a debt consolidation loan with an interest rate to pay off that debt--at least it raises your credit score.
Anonymous - #4, Sunday, November 4, 2007 - 9:47 AM
Credit Union was placed under conservatorship 11/2/07. Here's more info, https://www.calstate9.com/web/menu/MBR_LTR_FAQ.pdf.
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