Dedicated to Deposits: Deals, Data, and Discussion

5.00% 100-Day CD at a California CU (The Golden 1)

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The Golden 1 Credit Union
The Golden 1 Credit Union is offering a special 75th Anniversary 5.00% APY 100-day term-share certificate. The minimum deposit is $1,000, and it requires funds new to the credit union. The offer is scheduled to last through June 30, 2008.

As part of the 75th Anniversary, the credit union is also trying to give back to the community by giving to local food banks so they're asking members to bring in a non-perishable food item into a branch when you open the CD. Thus, this special CD is only available at Golden 1 branches.

Another important detail of this CD special is that at maturity, the CD renews at a 3.10% APY for a 24-month term. However, just like any CD, they give you a grace period of 7 calendar days at maturity to withdraw the funds without penalty.

Membership is open to those who live or work in one of many counties in California. Employees of many companies can also qualify. Please refer to their Membership Page for the full details. Membership requires a minimum balance of $1 in the regular savings account.

Branches are located throughout the state of California including the cities of Sacramento, Bakersfield, Los Angeles, Modesto, Napa, Oakland, San Francisco, Lincoln, Folsom, Fresno and Jackson.

The Golden 1 Credit Union is federally insured by the NCUA (Charter # 61650). It's one of the largest credit unions in the US with $6.7 billion in assets and 690,605 members.

Thanks to the reader who mentioned this special CD in the Finding-the-best-deals post.

Other High Certificate of Deposit Rates

For those in California, please refer to my latest California bank deals page to see all of my recent California deals. Another especially good California deal is at Vineyard Bank which is offering a 4.05% APY CD for terms of 7 or 12 months (see post). For other CD rates that are available nationwide and in other parts of the country, please refer to my latest weekly CD rate summary.

  Tags: California, CD rates, The Golden 1 Credit Union

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Comments
5 Comments.
Comment #1 by Anonymous posted on
Anonymous
Yes, this CD sounds great! It will be short lived but 3+ months might be getting ready for better yields "right around the corner". We keep hearing rumors of better rates near October.

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Comment #2 by Anonymous posted on
Anonymous
Golden 1 allowed me to put multiple benefeciaries for my entire account with them. However, they would not title by 100 day certificate as POD. I don't think I was able to get my account here protected for more than $100,000 by NCUA.

1
Comment #3 by Anonymous posted on
Anonymous
Golden 1 allowed me to put multiple benefeciaries for my entire account with them. However, they would not title my 100 day certificate as POD. I don't think I was able to get my account here protected for more than $100,000 by NCUA.

1
Comment #4 by Anonymous posted on
Anonymous
Golden1 doesn't consider a CD to be an account, and instead they call it a "certificate number" and consider it a subaccount of your share account. You have to create a whole new trust account, and open a "certificate number" under that trust account, with beneficiary info (SSN required) in order to get more NCUA coverage. You can transfer a certificate "number" from one account to another, but most of the reps don't know how to do this. In fact, most of the reps don't know what POD stands for because they're more familiar with their own CU terminology.

1
Comment #5 by Anonymous posted on
Anonymous
"Golden1 doesn't consider a CD to be an account"

That explains why they set up a completely different account number for Roth IRA CDs vs traditional IRA CDs.

1