KeyPoint Credit Union is offering a special certificate with terms from 8 to 11 months and yields up to 5.50% APY for regular certificates and up to 5.70% APY for IRA certificates. This requires a minimum deposit of $25k and direct deposit of net pay. Without direct deposit, the yield is 25 basis points 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. A maximum 50% increase or decrease from the original deposit will be allowed during the term of the account.
I first reported on this deal in September when these special CD rates were 50 basis points higher. Nevertheless, these new CD rates are still competitive in today's rate environment.
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 70,994 members.