Dedicated to Deposits: Deals, Data, and Discussion

4.00% 5-Month CD at a California CU - Add-On Feature (OCTFCU).

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Update 3/21/08: The special CD rate has fallen to 3.75% APY.

OCTFCU has a promotional 5-month Add-On certificate with a yield of 4.00% APY. Addititional deposits are allowed during the term up to the initial balance. The minimum opening deposit is $500.

I last reported on this credit union in November 2007 when it was offering a 5.40% 4-month CD.

Field of membership is primarily employer based. Eligible employers include most schools in Southern California. See website for further details. There is a $15 one-time membership fee which seems expensive since it can be done online. Also, a minimum $5 deposit in your share savings account is required for membership.

Branches are located throughout Southern California including the cities of Anaheim, Irvine, Cerritos, Fullerton, Cypress, San Bernardino and Santa Ana. The credit union is federally insured by the NCUA (Charter # 24212). It's a large credit union with over $7.49 billion in assets and 376,789 members.

  Tags: California, CD rates

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