Coast Central Credit Union is offering competitive rates on its savings certificates (pdf) for terms of 48 to 60 months. The yield for terms of 48 to 59 months is 5.06% APY, and the yield for the 60-month term is 5.12% APY. The minimum deposit is $10,000. The yield is about 5 basis points higher for a $75K minimum, and 5 basis points lower for a $500 minimum. The $75K rates are also available in an IRA CD with a minimum deposit of $500.
At the bottom of the rate table, it states that the early withdrawal penalty for CDs on terms over one year is 90 days of interest. Penalty will never exceed the amount of interest actually earned. This is better than the early withdrawal penalties at many other credit unions and banks. With the potential for higher interest rates, the early withdrawal penalty is especially important to note. The lower the penalty, the less costly it will be to move the money to a higher rate CD in the future.
Field of membership includes those who live or work in the California counties of Humboldt, Trinity or Del Norte. See site for details.
Branches are located in Arcata, Crescent City, Eureka, Fortuna, Weaverville, Willow Creek, Hoopa and McKinleyville, California.
For those looking for a financially healthy institution, this looks like it may be one based on its financial ratings. Both Bankrate.com and BauerFinancial give it their highest rating of 5 stars based on 3/31/08 data.
The credit union is federally insured by the NCUA (Charter # 62367). It has $743.8 million in assets and 51,688 members.