Dedicated to Deposits: Deals, Data, and Discussion

5.40% 4-Month CD at a California CU - yield up to 5.75% (OCTFCU)

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OCTFCU is offering a special thank-you share certificate with a yield up to 5.75% APY and a term of 4 months. Higher yields are offered based on length of membership. Members with less than 5 years qualify for a 5.40% APY. The yields for membership lengths over 5, 10 and 15 years are 5.50%, 5.60% and 5.75% APY. The minimum deposit is $500. It allows for unlimited add-on deposits, up to the amount of the initial opening balance. It's also available as an IRA. This special ends on January 6, 2008.

OCTFCU still has some competitive standard CD rates. For a minimum deposit of $50K, the yields range from 5.10% APY for a 6-to-11 month term to 5.45% APY for a 60-month term. An extra 5 basis points is available for Jumbo CDs with a $100K minimum. The yield for $20K and $500 minimum deposits are 5 and 10 basis points lower.

Field of membership is primarily employer based. Eligible employers include most schools in Southern California. See website for further details. There is a $15 one-time membership fee which seems expensive since it can be done online. Also, a minimum $5 deposit in your share savings account is required for membership.

Branches are located throughout Southern California including the cities of Anaheim, Irvine, Cerritos, Fullerton, Cypress, San Bernardino and Santa Ana. The credit union is federally insured by the NCUA (Charter # 24212). It's a large credit union with over $7.35 billion in assets and 369,078 members.
  Tags: California, CD rates

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