5.05% 60-Month / 4.75% 12-Month CD at a Colorado CU (Bellco).

Update 2/2/08: The CD rates have fallen. Please check the credit union's website for the latest rates.

Bellco Credit Union has some competitive CD rates. The top yields range from 4.75% APY for a 12-month term to 5.05% APY for a 60-month term. The minimum deposit is $500. These are also available as an IRA CD. Jumbo CDs with a $100K minimum deposit are available with a yield of 5.15% APY for a 12-month term and 5.00% APY for a 6-month term.

Bellco also has a Smart Move CD which allows you to make a one-time additional deposit of at least $100 during the term. It also allows a one-time penalty free withdrawal as long as the balance remains at least $1,000. Finally, it has a bump-up option allowing a one-time bump up to the current interest rate during the term. Considering the falling rates, the add-on feature is likely to be the most useful. The yields are 4.70% APY for terms of 30 to 36 months, 4.65% APY for terms of 24 to 29 months and 4.60% APY for terms of 18 to 23 months. The minimum deposit is $2,500.

I called Bellco today, and I was told that these rates are still available and would likely remain at least until Friday, February 1st. You can apply for membership online, but I was told that you can't open a CD at the same time. You have to become a member first.

You can become eligible to join Bellco by joining the Consumers United Association. Any Colorado resident is eligible to join this association with a $5 fee. You can also be eligible to join Bellco based on where you live or your company. Please refer to Bellco's Become-a-Member page for the full details. There's a one-time $5 fee and a $25 minimum deposit for membership into the credit union.

Branches are located in the Denver area. The credit union is federally insured by the NCUA (Charter # 68437). It's a large credit union with $1.59 billion in assets and 161,649 members.

Thanks to Roger who left a comment on Bellco and these CD rates in the Finding-the-best-rates post.

Tags: Colorado, CD rates, IRA rates, Bellco Credit Union