Dedicated to Deposits: Deals, Data, and Discussion

5.00% 12-Month CD at a Colorado CU (Air Academy).

POSTED ON BY

Air Academy Federal Credit Union
Update 4/04/08: This special 12-month CD has ended. Please check the credit union's website for the latest rates.

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 open to members of the USAFA Association of Graduates. This qualification is listed in the online application under military. Anyone can join this association for $50.

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.

  Tags: Colorado, CD rates, Air Academy Federal Credit Union, IRA rates

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Comments
5 Comments.
Comment #1 by Anonymous posted on
Anonymous
I clinked on the link for the 5.00% 12 month CD and started my application. However, when I came to the page that shows the rate that I would be receiving it shows a 4.60% interest rate. I tried three times but it will not show the 5.00% rate anywhere in its rate tables. What now?

1
Comment #2 by Francios (anonymous) posted on
Francios
Call them immediately.

1
Comment #3 by Anonymous posted on
Anonymous
That's true.

In the comment section of the application, reiterate that you want the Leap Year Special of 5%apy 12 MO cd.

The reps at AAFCU are great. They will get it right.

1
Comment #4 by Anonymous posted on
Anonymous
When applying for membership and CD concurrently the application requested credit card for funding. Is this coded as a purchase or a chase advance?

1
Comment #5 by Anonymous posted on
Anonymous
To answer the above question, my Chase account shows the money as a cash advance. Not exactly what I wanted. However, I only put the mandatory $5.00 on my credit card account and sent a check in for the CD amount. I called and talked with the CSR and she suggested that I do it that way. My CD hasn't been funded yet, but needs to be funded by Friday. They assured me that the 5.00% interest rate is good until the 22nd, since I applied on the 15th, as long as they receive my check by then. If I don't get that rate, I'll leave another post letting people know.

1