Dedicated to Deposits: Deals, Data, and Discussion

4.25% 12-Month CD (and up to 4.45%) at Addison Avenue FCU - Easy Membership

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Addison Avenue Federal Credit Union
Addison Avenue FCU has a certificate promotion with a yield of up to 4.45% APY for a 12-month term. This applies to an IRA certificate with a $500 minimum or a Jumbo certificate with a $100,000 minimum deposit. The 12-month yield for a regular certificate with a $500 minimum is 4.25% APY. There's also a special 34-month certificate with a yield of 4.50% APY. This 34-month certificate requires a checking account. Certificates can be opened online for both new and existing members. They can also be opened at a branch.

Addison Avenue FCU also has a good deal on a reward checking account that pays 5.25% APY on balances up to $25,000. Please refer to my July 2008 post for more details.

Membership

Credit union membership is open to members of the Financial Fitness Association (FFA). Anyone is eligible to join FFA. The membership cost is $5, and the application can be done online and paid with PayPal.

Credit union membership is also open to many select employee groups including employees of Hewlett Packard. For more details please refer to the credit union's Membership Eligibility Page. Membership requires a minimum balance of $5 in the Share Savings Account. An online membership application is available.

Application Note

A few readers reported being denied membership when they applied at Addison Avenue FCU. It appears the application will reject you if you had too many recent ChexSystem inquiries. When you open an account at a bank or credit union, a ChexSystem inquiry is often done. So if you have opened several accounts in the last 3 months, this could cause your credit union application to be denied.

Branches

Since the credit union started as the credit union for HP employees, it has branches located in several parts of the country including Puerto Rico, Georgia, Massachusetts, Idaho, Colorado, Oregon, California, Texas, Washington State and Delaware.

Addison Avenue FCU is federally insured by the NCUA (Charter # 19976).
  Tags: California, Washington, Georgia, Texas, Massachusetts, Addison Avenue Federal Credit Union, Oregon, Idaho, CD rates, Delaware, IRA rates

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Comments
3 comments.
Comment #1 by Anonymous posted on
Anonymous
Sounds like a good deal to me. Since this is a credit union and not a bank, it should be quite safe and worry free as far as going belly up is concerned. I like that.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Yup, Addison Avenue FCU seems to be financially healthy like many CU's that didn't participate in subprime mortgages or other risky loans. They have a 5-star rating at BauerFinancial.

I just posted on another easy-to-join CU (NASA FCU) with a decent 1yr CD yield that also seems to be doing well financially.

1
Comment #3 by Anonymous posted on
Anonymous
I just tried to open an account with Addison Avenue Credit Union online. I had previously called their CSR to ask questions. Don't believe anything they tell you. They don't train their people. The CSR said I could have an account opened by the next day using the online system. Wrong! They said I could fund the account with my Visa account with no fees! Wrong! They may have good rates but their consumer service is way below par.

1