Dedicated to Deposits: Deals, Data, and Discussion

7.00% 7-Month CD at a Virginia/DC Credit Union - $7K Max (State Department).

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State Department Federal Credit Union
State Department Federal Credit Union (SDFCU) will be offering a special 7.00% APY 7-month share certificate for one day only on February 7, 2008. The minimum and maximum deposit is $7,000, and it's only for new members. Only one certificate per member is allowed.

The credit union is still listing a 5.35% APY 15-month share certificate in its rate table. Please see my December post for more details.

Since each member is allowed one certificate, a wife and husband should be able open one each for a total maximum deposit of $14K. At 7% for 7 months, that'll earn about $245 over a 4% account. Another plus with this special is that it doesn't seem to require a checking account.

SDFCU's field of membership is primarily employer-based. In addition to the US Department of State, there are about a hundred other employers listed.

SDFCU's headquarters is in Alexandria, Virginia. Branches are located in Virginia, Maryland and Washington D.C. The credit union is federally insured by the NCUA (Charter # 435). It has $879.7 million in assets and 65,712 members.

  Tags: Virginia, State Department Federal Credit Union, CD rates

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Comments
3 Comments.
Comment #1 by Single Ma (anonymous) posted on
Single Ma
Just the deal I've been hoping for. Now I can pull out of HSBC (currently 3.8%) and lock up in SDFCU. I'll max out the 7% and put the rest in the 5.35%.

Thanks for keeping us informed on the latest bank deals!

1
Comment #2 by Grasshopper (anonymous) posted on
Grasshopper
I wrote an email today and confirmed that since I used to be an employee of a contractor who worked for the State Dept., I was eligible for membership. I will have to wire the money on Thursday which will eat up most of the gain over my 6.25% Rewards Checking. But I am afraid that those rates on the Rewards Checking are only going to last a matter of days.

1
Comment #3 by Anonymous posted on
Anonymous
I just opened my new account with the 7 month CD. I opened the checking account which is free no minimum balance no more monthly fees and I got my visa debit card on the spot.

1