Dedicated to Deposits: Deals, Data, and Discussion

4.00% 9-Month CD at a Pennsylvania Credit Union (Police and Fire)

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Update 5/21/09: The rates have fallen. Please check the credit union's website for the latest rates.

Police and Fire Federal Credit Union is offering a special 4.00% APY 9-month certificate. The minimum deposit is $500. The longer term certificates are fairly competitive with yields ranging from 4% APY for a 24-month term to 4.50% APY for a 60-month term.

The credit union also has a competitive savings account with a yield of 3.00% APY for a minimum balance of $2,500.

The above CD and savings account rates are also available in an IRA.

In addition to Philadelphia police and firefighters, membership is also open to other employee groups and associations. Please refer to their Membership Page for the full details. The association and organization list is long, and one that's included is the Pennsylvania SPCA (see update below). I would recommend checking with the credit union to verify this before trying to join.

Update 5/21/09: Readers have reported being told by the credit union that the Pennsylvania SPCA was incorrectly listed as an Association/Organization. It should be listed under Employers. So only employees of the SPCA (not members) can qualify.

The credit union has an online membership application which seems to allow online funding. A minimum deposit of $5 is required.

Branches are located in Philadelphia and its suburbs. It's a large credit union with $2.8 billion in assets and 153,076 members. The credit union is federally insured by the NCUA (Charter # 2551).
  Tags: Pennsylvania, CD rates, IRA rates, Police and Fire Federal Credit Union, savings account

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