SECU Credit Union has a new
CD special with a yield of 4.85% APY and a term of 18 months. The minimum deposit is $500. This seems to replace the previous 13-month special that I reported on
last week. This new one has a new restriction. The small print states that the depositor must claim residency in MD, VA, PA, DE, WV or DC, or must be a SECU member prior to 9/1/2008. This same CD is also available as an
IRA certificate.
Membership is open to alumni, full and part-time students, faculty and staff of several Maryland schools and universities. It's also open to Maryland state employees and members of the Maryland State Firemen's Association. It appears that
this association may be open to anyone who pays a $20 membership fee. I recommend checking with the association to confirm, and with the credit union to confirm association membership will make you eligible. You can also be eligible if your family member (not just immediate) is eligible to join. Please see the credit union's
field of membership page for the full details. Membership requires a minimum $10 balance in the share savings account.
Branches are located in the Maryland cities of Baltimore, Annapolis, Berwyn Heights, Columbia, Glen Burnie, Hagerstown, LaVale, Rockville, Salisbury, Silver Spring and Towson.
The credit union is federally insured by the NCUA (
Charter # 66330). It's a large credit union with $1.8 billion in assets and 251,070 members.
Thanks to the reader who mentioned this new CD in the comments.
