Air Academy Federal Credit Union is offering a special 5.00% APY 12-month certificate. The minimum deposit is $500. It's also available as an IRA certificate. You'll have to hurry for this one. It ends on Friday (2/15/08). According to a reader, funding is required by 2/22/08. New money is required, but the reader reported being told that they'll allow funding from the Max Checking account.
If you miss out on this special, you might want to look at their regular certificate and IRA rates which are very competitive. Some of the best rates are 4.60% APY for a 12-month term, 4.69% APY for a 36-month term and 4.80% APY for a 60-month term. The minimum deposit for these is $10,000. The rates are 10 basis points lower for a $500 minimum.
Air Academy FCU continues to offer a high yield reward checking account (Max Checking) with a yield of 6.01% APY on balances up to $50,000 if the monthly requirements are met. I first posted on this account in October.
Update 4/04/08: I've been informed by the credit union of a mistake in their online application which stated that members of the USAFA Association of Gradutes were eligible to join the credit union. Customer service reps who claimed this were also apparently wrong. Here is what the credit union rep stated:
Only employees and employees' families of the USAFA Association of Graduates are eligible to join AAFCU at this time. There are many other ways to join AAFCU and we serve members around the globe. Visit www.aafcu.com and click on membership for details.
Credit union membership is also open to all military (active and retired) and their family members. Employees, students and their families of several Colorado school districts are also eligible to join. Please refer to the credit union's eligibility page for more details. There's an online application which allows you to join and open accounts. Membership requires a minimum deposit of $5 into your share savings account.
Branches are located in Colorado Springs, Castle Rock, Elizabeth, Fountain, Highlands Ranch, Monument and Parker, Colorado. The credit union is federally insured by the NCUA (Charter # 10600). It has $300.9 million in assets and 44,759 members.
Thanks to the reader who mentioned this special in the Finding-the-best-rates post.