Fairwinds Credit Union has changed its 9-month promotional certificate that I reported on last month. A new member can now receive 5.76% APY by opening a checking account with direct deposit. The checking with direct deposit earns the member 2,500 relationship points that can be immediately redeemed for the 5.76% APY. There are other ways to earn relationship points for existing members. Please refer to the credit union's relationship reward page. One downside of this change is that members with 5,000 relationship points can no longer apply these points for a 50 basis point rate increase to this special CD.
Without the checking or the use of the relationship reward points, a 5.50% APY 9-month CD is still available. The minimum deposit is $1,000.
Membership is open to those living or working in any one of the following Central Florida counties: Brevard, Polk, Lake, Orange, Osceola, Seminole and Volusia. There's also a large list of select employer groups. In addition, active or retired military personnel or dependents receiving military benefits are eligible. Please refer to their membership eligibility page for more details.
Membership application can be done online. Accounts can be funded using an electronic transfer from another financial institution. The cost of membership is a little higher than typical: $10 fee plus a minimum deposit of $50 to their share savings account.
Branches are located in Orlando and throughout Central Florida. Fairwinds is federally insured by the NCUA (Charter # 68417). It's a large credit union with $1.46 billion in assets and 139,397 members.