Update 3/1/08: The CD rate has fallen. The 30-month Add-On CD yield has fallen from 4.25% to 4.00% APY. The title has been modified to reflect this change.
Pacific Service Credit Union is offering a 30-month Add-On certificate with a yield of 4.25% APY for balances of $50K and over. The yield for balances under $50K is 4.00% APY. The minimum add-on is $1,000 for regular certificates and $500 for IRA certificates. The additional deposits may be made anytime during the term of the certificate, and they do not advance maturity. Please refer to the rate page for more details.
For those who might have CDs maturing later this year, add-on CDs can be very useful in a rate declining environment. You can lock the rate in now and then make additional deposits at that same rate later. Unforuntately, the 4.25% APY requires $50K. If you start with a smaller initial deposit, I doubt they'll bump the yield up to 4.25% APY after additional deposits take the balance above $50K. Nevertheless, the 4% APY is still a competitive rate these days. The highest rate 30-month CD currently listed at Bankrate is 3.97% APY at Ascencia Bank, and they don't offer this add-on feature.
Membership is open to anyone who lives, works, attends school, or worships in Alameda, Contra Costa, Fresno, Marin, Napa, Placer, Sacramento, San Francisco, San Mateo, Santa Clara, Solano or Sonoma County, California. Please see their membership page for more details.
Branches are located in San Francisco, Pleasant Hill and Fresno. The credit union is federally insured by the NCUA (Charter # 68413). It has 68,419 members and $1.11 billion in assets.