Dedicated to Deposits: Deals, Data, and Discussion

5.00% 5-Month CD at a Multi-State CU - $25K Max / Easy Membership (Xerox).

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Update 5/07/08: The 5% CD special has ended early.

Xerox Federal Credit Union is offering a special 5.00% APY 5-month certificate. The minimum deposit is $500. There are some extra details about this CD at the bottom of their rate table. One significant detail is the $25,000 maximum deposit per member.

Update 4/18/08: It has been reported that this special CD has been extended to 5/30/08. Also, the credit union has changed its name to Xceed Financial Credit Union.
Update 4/3/08: It has been reported that this special CD is scheduled to expire on 4/15/08.

Membership is open to members of several organizations. One is the Friends of the Webster Public Library which anyone can join for a $8 fee ($5 for those 60 and over). Another is the Heal the Bay. Anyone can join this with a $35 fee ($10 for students).

You can also be eligible to join the credit union without joining an association if you live, work, worship or attend school in the Texas cities of Dallas, Carrollton, Farmers Branch, Irving or Lewisville, in Greater Rochester, New York, in Rosemont, Illinois, in San Jose, California or in St. Petersburg, Florida.

You can also be eligible to join based on Select Employer Groups which include Xerox and OfficeMax.

For the full details of credit union eligibility, please refer to their Membership page. Membership requires a minimum deposit of $5 in the Membership Savings account.

Branches seem to be located in or near all of the cities mentioned above in the field of membership. The credit union is federally insured by the NCUA (Charter # 20068). It has $771.1 million in assets and 77,486 members.

Update 2/29/08: Small print now states that the $25K limit is per member.

  Tags: New York, California, Illinois, CD rates, Texas, Florida

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