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5.25% 8-Month CD at a California CU (Santa Clara County).

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Santa Clara County FCU is listing a special 8-month share certificate with a yield of 5.25% APY. The minimum deposit is $5,000. According to the promo page, it'll be available through February 2, 2008. But with last week's massive Fed rate cut, you may want to check with the credit union to see if it's really still available.

To receive the promotional 5.25% APY, member's account must be in the Gets Better Option of the Relationship Rewards Program. The yield without this relationship is 5% APY which isn't too bad after last week.

Last year they were offering a special 6% 8-month CD. Those who may have one of those special CDs maturing this week should be able to take advantage of this new one. There's no requirement for new money. A reader in that previous post mentioned that they require a visit to a branch to open the CD, even for existing members.

Field of membership is primarily limited to employees and volunteers of certain companies and their families. Here's the list of eligible companies and organizations. Membership requires a $25 minimum deposit into your share savings account and a $5 membership fee.

Branches are located in San Jose, Campbell and Gilroy, California. The credit union is federally insured by the NCUA (Charter # 24299). It has $487.5 million in assets and 43,253 members.

Thanks to the reader who mentioned this special in the comments of the Finding-the-best rates post.

  Tags: California, CD rates

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Comments
2 Comments.
Comment #1 by SVG (anonymous) posted on
SVG
 

Banking Guy,

    >>A reader in that previous post mentioned that they require a visit to a branch to open the CD, even for existing members.<<

In the past, I've opened certificate with Santa Clara County FCU using mail without any issues.

- SVG

 

1
Comment #2 by Anonymous posted on
Anonymous
i was able to call in to open the cd

1