Dedicated to Deposits: Deals, Data, and Discussion

4.58% 15-Month CD at a Virginia/DC Credit Union (State Department)


State Department Federal Credit Union
Update 4/05/08: The special 15-month CD is no longer available. Please check the credit union's website for the latest rates.

Update 3/1/08: The CD rate has fallen. The 15-month CD yield has fallen from 4.84% to 4.58% APY. The title has been modified to reflect this change.

State Department Federal Credit Union (SDFCU) has cut the rate on its 15-month certificate special, but it's still very competitive. The new yield is 4.84% APY. The minimum deposit is $5,000. They also have a special IRA certificate with a 5.00% APY and a 14-month term. This has a minimum deposit of $500. The IRA promotion is available through April 15, 2008.

SDFCU's standard CD rates are also very competitive with yields up to 4.58% APY for $500 minimums and 5.09% APY for $100K minimums. These are for a 60-month term. The 5.09% APY is also available for CapitalClub members.

Last week this credit union had a one-day 7% 7-month CD special with a $7K cap.

SDFCU's field of membership is primarily employer-based. In addition to the US Department of State, there are about a hundred other employers listed.

SDFCU's headquarters is in Alexandria, Virginia. Branches are located in Virginia, Maryland and Washington D.C. The credit union is federally insured by the NCUA (Charter # 435). It has $879.7 million in assets and 65,712 members.

  Tags: Virginia, State Department Federal Credit Union, Maryland, CD rates, IRA rates

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Comment #1 by Anonymous posted on
This credit union in NOTORIOUS for baiting new customers with false/misleading advertising. Last month they advertised the same 7 percent offer but later denied that it was valid. The Feb 7 offer was probably another such tactic. It is nearly impossible to speak to a hunan on their phone lines - I tried nearly all day on Feb 6 but was simply put on hold, or transfered to a call center.

Beware of this entity!

Comment #2 by larson (anonymous) posted on
The site advertised a great cd but never responded. I wasted time applying

Comment #3 by Anonymous posted on
I am SDFCU member who joined last fall, and I'm going to stick up for them. I have mostly interacted with them on-line and a few times in the branch. I bought plenty of the 5.40% 15-month CDs, on-line, and didn't have any problems. The current rate on IRA looks pretty good.

Comment #4 by Anonymous posted on
Beware- they do advertise good rates but it is almost impossible to speak to anyone over the phone with this CU. The on line application process is misleading, especially for new members, and by the time you get a response the rates will most likely have changed (in their favor, of course).