Update 3/8/08: The CD rates have fallen. The 60-month yield has fallen from 4.56% to 4.44% APY, and the 36-month yield has fallen from 4.15% to 3.98% APY. The title has been modified to reflect this change.
Update 3/8/08: The CD rates have fallen. The 60-month yield has fallen from 4.90% to 4.56% APY, and the 36-month yield has fallen from 4.57% to 4.15% APY.
Northwest Federal Credit Union has some competitive long term certificate rates. The highest is 4.90% APY for a 60-month term and a minimum deposit of $100,000. The top yield on the 36 and 48-month terms is 4.57% APY. The yields for a $25K minimum are 11 basis points lower and 16 basis points lower for a $2,500 minimum.
You might remember this credit union from last November when they came out with a special 6% 18-month CD. There was a lot of excitement when it appeared anyone could qualify by joining the National Wildlife Federation (NWF). This didn't last long. The credit union's board changed this eligibility criteria to only include employees of NWF. So there's no longer an easy way to qualify for credit union membership.
Field of membership is primarily limited to Select Employee Groups. Please see their Who Can Join page for more details. There is a long list of member companies. Membership requires a minimum deposit of $5 into your share savings account.
Branches are located in the Virginia cities of Chantilly, Herndon and Vienna. The credit union is federally insured by the NCUA (Charter # 5500). It's a large credit union with $1.51 billion in assets and 92,177 members. The number of members increased by over 3,000 since I posted on this credit union in November. Perhaps that 6% CD special attracted many new members.
Thanks to the reader who emailed me info on these CD rates.