Update 3/15/08: The special CD is no longer listed at the credit union's website.
generations community federal credit union is celebrating the change of its name from San Antonio City Employees FCU to generations community FCU by offering a special 6.00% APY 6-month share certificate or IRA. The minimum deposit is $1,000, and the maximum is $250,000 per member.
This is such a good deal that I gave a close look at the small print. One sentence stipulates that "All proceeds will be deposited to a regular 12-month term share certificate upon maturity." I called and asked about this. The CSR said that you are free to close the CD when the 6-month CD matures without penalty. There is a 10 calendar day grace period.
Unfortunately, this is such a good deal, that it probably won't last long. The CSR said that he didn't expect it to last past today due to the demand.
Field of membership includes all those who live, work, worship, attend school or volunteer in Bexar County, Texas. Membership requires a $5 deposit in the share savings account.
Branches are located through out San Antonio. The credit union is federally insured by the NCUA (Charter # 4015). It has $314.2 million in assets and 45,125 members.
Thanks to the reader who mentioned this special in the finding-the-best-deals post.