Dedicated to Deposits: Deals, Data, and Discussion

5.50% 9-Month CD at a Los Angeles CU (Water and Power Community).


Update 1/19/08: This promotion may have ended. Please check the credit union for the latest rates and promotions.

Water and Power Community Credit Union is advertising a certificate special with a yield up to 5.50% APY and a term of 9 months. The minimum deposit is $5,000. The 5.50% APY requires opening a Free Power Checking Account with direct deposit. However, you can still get 5.45% APY without this requirement. New money is required.

This special doesn't seem to be listed at the credit union's website. A reader mentioned seeing this advertised in Sunday's LA Times (CA section, B-5). The ad instructed readers to bring in the ad for this special rate and for a waiver of the $5 membership fee. I can't find this ad online, so hopefully if you mention the ad, they'll honor it without a copy.

Membership is open to anyone who lives, works, attends school or worships in many communities within greater Los Angeles area, San Fernando Valley or portions of the San Gabriel Valley. You can also be eligible via Select Employee Groups. Please see their membership page for the full details. In addition to the $5 membership fee (which may be waived as part of this special), membership requires a minimum deposit of $25 into the regular share savings account.

Branches are located in Los Angeles, San Valley, Westchester, Montebello and Granada Hills, California. The credit union is federally insured by the NCUA (Charter # 68493). It has $436.9 million in assets and 52,910 members.

Thanks to the reader who emailed me info on this special.

Related Pages: California, CD rates

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Comment #1 by johnoc (anonymous) posted on
its not on the sunday times. i checked the section you suggeted and BevMo advertising is placed on that page.