10.00% 5-Month CD at a California CU - $2K Max (Telesis Community)

Telesis Community Credit Union is offering a special certificate with a yield of 10% APY and a term of 5 months. The minimum deposit is $500, and the maximum is $2,000. It requires opening a new checking account with direct deposit of payroll or social security of at least $500. The minimum initial deposit for the checking account is $100. The offer ends 8/31/08.

You can think of this like a checking account bonus. With a $2K deposit, you'll earn about $58 over what you would earn in a 3% account for 5 months.

Membership is open to those who live, work or worship in the San Fernando Valley, Santa Clarita Valley, or Ventura County in Southern California. You can also be eligible if you live, work or worship in Lafayette, Moraga, Orinda, Walnut Creek or Pleasant Hill in Northern California's Contra Costa County. Please see the credit union's Membership Page for the full details. There's a $1 membership fee, but I was told this will be waived. There is no initial balance requirement for the share savings account.

Branches are located in the California cities of Northridge, Camarillo, Canyon Country, Simi Valley, Valencia, Van Nuys, Westlake Village and Woodland Hills. The credit union is federally insured by the NCUA (Charter # 68396).

Tags: California, Telesis Community Credit Union, CD rates