Northwest Federal Credit Union has again come out with some very competitive CD rates. The new certificate rates include a 5.15% APY 60-month CD, a 5.01% APY 36-month CD, a 4.40% APY 24-month CD, a 3.98% APY 12-month CD and a 3.69% APY 6-month CD. These rates require a minimum deposit of $25,000. Rates are 10 basis points higher for a $100,000 minimum and 5 basis points lower for a $2,500 minimum.
My first post on this credit union was last November when they were offering a special 6% 18-month CD. My last post on this credit union was on their 4% 24-month add-on CD which they are still offering.
The credit union's field of membership is primarily limited to Select Employee Groups. Please see their Who Can Join page for more details. There is a long list of member companies. A reader in my previous post mentioned that he was able to join based on his employer belonging to one of the Chambers of Commerce listed at the top of the Member Companies Page. Membership requires a minimum deposit of $5 into your share savings account.
Branches are located in the Virginia cities of Chantilly, Herndon and Vienna. The credit union is federally insured by the NCUA (Charter # 5500). It's a large credit union with $1.55 billion in assets and 94,291 members. It has a 5 star rating (superior) at BauerFinancial based on 3/31/08 data, and a 4 star rating (sound) at Bankrate based on 12/31/07 data.
Thanks to the reader who mentioned these CD rates in the Finding the Best Deals post.