5.55% 8-Month CD at a California CU (San Francisco)

San Francisco FCU is offering a special 8-month certificate with a yield of 5.55% APY. The minimum deposit is $500, and the maximum deposit is $50,000. It has a one-time bump-up option which allows you to request a bump-up in the rate to the APY offered on their 6-month CD. I doubt this will be useful considering rates are falling and that their current 6-month CD yield for a $50K deposit is only 5.07% APY. This offer is scheduled to end on 10/31/07.

My last report on this credit union was in September when they were offering a 7% 5-month CD with a $5K max. This ended in September.

Field of membership includes those who work, live, worship or attend school in San Francisco. Membership requires a $5 fee and a $5 initial deposit into your share savings account. Note, there's a monthly low balance fee if your total combined balance of all your deposit accounts is less than $100 (and you don't have a loan).

The credit union is federally insured by the NCUA (Charter # 24542). It has $600.6 million in assets and 30,207 members.

Tags: California, CD rates