Philadelphia FCU continues to offer several high yields on its certificates. The highest yields are for the jumbo certificates which have a minimum deposit of $25,000. The top yields range from 4.25% APY for a 12-month term to 4.85% APY for a 60-month term. The yields for CDs with a $10K minimum are 5 basis points lower. $500 minimum CDs have yields around 30 basis points lower than the top yields. These same yields are also available for IRA certificates. The credit union also has a promotional 12-month IRA certificate with a yield of 5.02% APY for a $25,000 minimum deposit. According to the IRA certificate promo page, the 12-month IRA special should remain valid until April 15, 2008.
Membership is open to anyone who lives, works, worships or attends school in the City of Philadelphia and in parts of Columbia County. You can also be eligible via one of a long list of Select Employee Groups. Please refer to the credit union's Who-Can-Join page for the full details. Membership requires a minimum deposit of $5 in the Regular Savings Account.
Branches are located throughout Philadelphia and in Bloomsburg. The credit union is federally insured by the NCUA (Charter # 7238). It has $541 million in assets and 97,212 members.
Comparison to Other CD Deals
As you would expect with the recent Fed rate cuts, these PFCU CD rates are down since my last post on this credit union. Nevertheless, these current rates are very competitive. As a comparison, the top 1-year CD listed at Bankrate is 3.80% APY at State Farm Bank. The top 5-year CD listed at Bankrate is 4.25% APY at Eastern Savings Bank.
The best nationwide deal for a 1-year CD continues to be at Alliant CU with a yield of 4.90% APY for a minimum deposit of $25K (4.50% APY for a $1K minimum). The best nationwide deal for a 5-year CD continues to be at Pentagon FCU with a yield of 4.85% APY for a minimum deposit of $1K. Please refer to my latest weekly rate summary for other top CD and savings account yields.