5.33% 60-Month / 5.12% 12-Month CD at a New Jersey CU (Garden Savings).

Update 1/12/08: The CD rates have gone down. Please refer to the bank's website for the latest rates.

Garden Savings FCU has some competitive rates on its share certificates. The top yield is 5.33% APY for a 5-year term. Other yields include a 5.22% APY for 3 and 4 year terms and 5.12% APY for 12, 18 and 24 month terms. The minimum deposit is $500. These same rates are also available for IRA certificates.

My last report on this credit union was in September when it was offering a special 5.75% CD.

Membership is open to those who live, work, worship, or attend school in Newark, Elizabeth, or Jersey City. In addition, you can be eligible to join via Select Employer Groups and via family. Please refer to their membership page for more details. Membership requires a minimum deposit of $5 into the share savings account.

Branches are located in Parsippany, Newark, Whippany, Montville and Morristown, NJ. The credit union is federally insured by the NCUA (Charter # 18710). It has $165.4 million in assets and 16,108 members.

Tags: Garden Savings Federal Credit Union, CD rates, New Jersey, IRA rates