Update 7/19/08: This special CD is no longer listed at the credit union's website. Please check with the credit union for the latest specials.

Northwest Resource Federal Credit Union is offering a New Member Rewards Certificate with a yield of 8.00% APY and a term of 8 months. As is typical with these special CDs, it has a maximum deposit limit. The maximum limit is $5,000. The minimum deposit is $500. It's available only to new members.

The small print states that there's a limit of one special certificate per member. So a couple should be able to open two of these for a total of $10,000. Over 8 months, you'll earn about $330 over what you would earn in a 3% account.

Membership is open to those who live, work, worship or attend school in parts of Portland, Oregon. Please refer to the credit union's Membership Page for the full details. Membership requires a minimum $5 balance in your savings account.

The credit union is federally insured by the NCUA (Charter # 644). It has $81.5 million in assets and 6,624 members.