3.65% 5-Month CD at a California CU - Add-On Feature (SchoolsFirst)

OCTFCU is still offering a promotional 5-month Add-On certificate. The yield has fallen since my last report on this in March, but it's still competitive with a yield of 3.65% APY. Addititional deposits are allowed during the term up to the initial balance. The minimum opening deposit is $500.

Another change since my last post is the credit union's name. It used to have the name OCTFCU. It's now SchoolsFirst FCU.

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, SchoolsFirst Federal Credit Union, CD rates