Update 2/16/08: The CD rates have fallen by 20 basis points. The new 12 and 60-month CD yields are 4.25% APY and 4.50% APY. The title has been changed to reflect this change. Please check the credit union's website for the latest rates.
Michigan Schools & Government Credit Union is offering high rates on its certificates of deposit. The yields include 4.40% APY for 6 months, 4.45% APY for 12 months, 4.50% APY for 24 months, 4.60% APY for 36 months, 4.65% APY for 48 months and 4.70% APY for 60 months. The minimum deposit is $500. These same rates are also available in an IRA CD.
Membership is open to employees and members of several organizations located within 25 miles of the credit union's offices. Also eligible to join are relatives of individuals who are members or who are eligible to be members. Please see the credit union's Membership page for the full details. Membership requires a minimum deposit of $5 into the savings account.
Branches are located in the Michigan townships of Clinton, Shelby and Chesterfield, and the cities of St. Clair Shores, Sterling Heights, Chesterfield and Troy. The credit union is federally insured by the NCUA (Charter # 62049). It has $820.4 million in assets and 61,298 members.
Thanks to Bruce who mentioned these CD rates in the finding-the-best-rates post.