Dedicated to Deposits: Deals, Data, and Discussion

5.85% 7-Month CD at a Massachusetts CU (Stoneham Municipal Employees).

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Update 12/27/07: The special CD rate has been reduced to 4.85% APY.

Stoneham Municipal Employees FCU is offering a special 5.85% APY 7-month certificate of deposit. The minimum deposit is $5,000, and it requires new money. There's also a special 5.01% APY 5-month CD with a $1,000 minimum deposit.

In addition to employees of Stoneham Township and a few other MA townships, membership is open to members of the "Friends of the Stoneham Public Library." Please refer to the credit union's membership page for more details. According to the The Friends website, membership into The Friends is open to all. The cost of membership is $10. Membership into the credit union requires a minimum deposit of $5 into the regular share savings account.

Branches are located in Stoneham and Wilmington, Massachusetts. The credit union is federally insured by the NCUA (Charter # 15393). It's a small credit union with $21.1 million in assets and 3,266 members so I doubt they'll be able to keep this special too long if they get a lot of demand.
  Tags: Massachusetts, CD rates

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Comments
4 comments.
Comment #1 by Anonymous posted on
Anonymous
can someone post a friend application and cu app too for the out of state people???

1
Comment #2 by Anonymous posted on
Anonymous
Called them today - CD must be opened in person

1
Comment #3 by Anonymous posted on
Anonymous
Your post is much appreciated, and important. Thanks. I was considering Stoneham but ended up with Patelco earlier today. Was able to open CD on-line despite their being closed for "winter holiday" - Ha!! I wonder what winter holiday they are celebrating!? Regardless, I now have ten days to get the funding to them.

1
Comment #4 by Anonymous posted on
Anonymous
CD rate dropped to 4.85% as of this morning. Lasted only a few days.

1