Library of Congress FCU has some very competitive certificate rates on all terms. The yields range from 4.70% APY for a 3-month term to 5.20% APY for 60-month term. The mininum deposit is $500. Traditional, Roth, SEP and Education IRA certificate rates are 10 basis points higher. Below is the full list of CD rates:
Term CD APY IRA CD APY
3 months 4.70% -
6 months 4.80% -
12 months 4.85% 4.95%
18 months 4.90% 5.00%
24 months 4.95% 5.05%
36 months 5.00% 5.10%
48 months 5.05% 5.15%
60 months 5.20% 5.30%
The CD rates have gone down since my last post in November 2007, but they remain very competitive.
February Membership Bonus
The credit union is offering a $25 gas card bonus for those who join in February and deposit $2,008 into any of their savings, checking or investment savings account in February. Additional $25 gas cards ($50 max) are awarded for each qualified loan of at least $2,008. They are also waiving the one-time $5 membership fee.
The credit union also has a competitive money market account that currently pays 4.25% APY for balances over $20K and 4.00% APY for balances between $2.5K and $20K. The minimum balance to avoid monthly fees is $2,500. The credit union provides 25 free checks per year with this account.
In addition to employees and volunteers of the Libary of Congress, membership is open to anyone who lives, works, worships or attends school in Washington, DC. Please refer to their membership page for full details. Membership requires a $5 fee and a minimum $5 deposit into your share savings account. Note, fee is being waived during February.
The credit union is federally insured by the NCUA (Charter # 266). It has $146.9 million in assets and 10,620 members.