6.00% 7-Month CD at a Washington CU - $10K Max (Group Health).

Group Health Credit Union is offering a special certificate with a yield of 6.00% APY and a term of 7 months. The minimum deposit is $1,000, and the maximum is $10,000. This requires a member to open or already have a checking account. Without the checking account, the yield is 5.74% APY. New money is required, and only one certificate per member is permited. It's only available at the credit union's new branch at 310 Westlake Ave N, Seattle, WA, and it's only available until February 9, 2008. A branch visit is required.

Since it allows one per member instead of one per household, couples should be able to open two of these for a $20K maximum deposit. That would earn about $233 more than what you would earn in a 4% account over 7 months. I used to compare these types of CDs to 5% accounts, but after the recent massive Fed rate cuts, 4% is more reasonable.

Membership is open to anyone who lives or works in Washington State. Please refer to the credit union's Membership page for more details. Membership requires a minimum deposit of $50 in the Primary Savings Account ($5 for those under 29).

Branches are located in Seattle, Redmond and Tukwila, Washington. The credit union is federally insured by the NCUA (Charter # 66349). It has $231.8 million in assets and 28,006 members.

Credit for this find goes to FW member DeGlass who posted info on this special at this FW thread.

Tags: Washington, CD rates