Dedicated to Deposits: Deals, Data, and Discussion

4.25% 4-Month / 4.25% 36-Month CD at a Central New Jersey CU (United Teletech Financial).


Update 3/22/08: The CD rates have gone down. Please check the financial institution's website for the latest rates.

Update 3/1/08: The CD rates have fallen. The yields on the 4-month and 36-month CDs have fallen to 4.25% APY. The title has been modified to reflect this change.

United Teletech Financial FCU has several CD specials with competitive rates. One is a 4.75% APY 4-month CD. The minimum deposit is $500. An United or eUreka! checking account is required to qualify for the 4.75%. Note, both of these checking accounts appear to required direct deposit to avoid monthly fees. There's also a 4.50% APY 8-month CD special with the same requirements. Both are also available as an IRA.

The 36-month CD special has a yield of 4.50% APY. The minimum deposit is $20,000. The checking account isn't required for this. It's also available as an IRA.

There's an IRA certificate special with a yield of 4.85% APY and a term of 16 months. The minimum deposit is $500. This one isn't available as a regular certificate.

I last reported on this credit union in October 2007 when this 4-month CD promo had a yield of 5.50%.

Field of membership includes those who live, work, worship or attend school in Monmouth County, Ocean County and parts of central Middlesex County. Membership requires a minimum deposit of $5 into a share savings account. An online application is available.

The credit union is federally insured by the NCUA (Charter # 18195). It has $243.3 million in assets and 22,955 members.

Other CD Deals

The 4.75% and 4.50% yields may not sound that great, but with last month's Fed rate cuts, they're very competitive. As a comparison the top 3-month and 36-month CD yields listed at Bankrate are 3.77% APY at VirtualBank and 4.00% APY at Eastern Savings Bank. The best yield from my most recent 3-month CD rate summary is 4.25% APY at IndyMac Bank. The best yield from my most recent 36-month CD rate summary is 4.69% APY from Air Academy FCU.

  Tags: CD rates, New Jersey, IRA rates

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