4.75% 60-Month / 3.90% 12-Month CD at an Illinois/Indiana CU - ASI-Insured Only (Credit Union 1).
Update 5/24/08: The CD rates have fallen. The new 60-month yield is 4.75% APY and the new 12-month CD yield is 3.90% APY. The title has been modified to reflect this change.
Credit Union 1 continues to offer very competitive certificate rates. The yields range from 3.95% APY for a 6-month term to 5.00% APY for a 60-month term. The minimum deposit is $10,000. Certificates with a $1,000 minimum deposit are available with yields 10 basis points lower. All terms are also available in IRA certificates and the rates are 10 basis points higher.
I last reported on this credit union in March. The rates seem to change almost every week, but they've remained very competitive.
Membership is open to active and retired military and employees of several select employee groups including State of Illinois, Cook County and University of Illinois at Chicago. Please refer to their Membership page for more details. Membership requires a minimum deposit of $5 in the primary savings account.
The credit union has 17 branches in Illinois with several in Chicago and two branches in Indianapolis, Indiana.
Note, this credit union is not federally insured by the NCUA. It's only privately insured by American Share Insurance (ASI). You can view their financial information from this ASI page. It has a 4 out of 5 star rating (sound) at Bankrate based on 12/31/07 data.
Banks Mentioned in this Post:
|Credit Union 1|
Locations: 15 Health Rating:
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