Dedicated to Deposits: Deals, Data, and Discussion

4.85% 18-Month CD at a Maryland Credit Union (SECU)


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.

  Tags: Maryland, CD rates, IRA rates

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Comment #1 by Anonymous posted on
Last year, seeking to become an SECU member, I made inquiry re MSFA membership as a way in. I received, roughly one year ago, the below message from Paul Sterling. Chief Sterling is now a PAST president of the MSFA. Here below is the text of the message I received:

Thank you for the inquiry and interest in the MSFA. Our current membership, as defined in the Constitution and By-laws, is limited to active volunteer fire and rescue departments. Individual membership is limited to individual members of the volunteer fire and rescue departments.

We also have an Associate Membership class for fire service organizations that do not provide direct fire-rescue and EMS service. (i.e., County Firemen's Association.)

Finally, we have a Sustaining Membership which is basically for our corporate partners.

I trust that this answers your questions. Please do not hesitate to call me, should you require further information.


Chief Paul H. Sterling, Jr.


Maryland State Firemen's Association

I have not checked back this year and do not know if MSFA membership criteria have changed. However absent change, based on Chief Sterling's message, I do not believe MSFA membership provides a way into SECU for the average person.