Credit Union of Georgia has recently come out with some competitive share certificates. The most competitive include a 4.33% APY for a 12-month term and a 4.59% APY for a 15-month term. The minimum deposit is $500.
Field of membership includes members of the GettingAhead Association. According to the association's website, "membership is open to any individual who is genuinely committed to improving their own financial well-being." There's a $5 fee to join this association. Employees and students of several select groups can be immediately eligible to join the credit union without joining the association. Membership into the credit union requires a minimum $10 deposit into a savings account. There's a membership application online that must be printed and mailed in along with copies of two forms of ID.
It has been a while since this credit union has offered competitive CD rates. My last post was in September 2007 when it was offering yields of over 5.50% APY for terms of 6 months and longer. In a February 2007 post, a reader described his experience opening a CD at this credit union:
I just opened a cd with MACO and their reps were very accomodating (although the phone wait was sometimes long). I needed to open the account and move funds the same day since it was the last day of a grace period at another institution where my CD had matured.
I was able to open the account via faxed application, including two forms of ID as well as my apllication to join Getting Ahead Assoc (required to qualify for membership). I wired the funds, and the $5 share account minimum and Getting Ahead membership fee were deducted from that. No incoming wire fee.
Note, the credit union has changed its name from MACO Educators Federal Credit Union to Credit Union of Georgia.
Branches are located just northwest of Atlanta, Georgia in the cities of Kennesaw, Marietta, Dallas and Woodstock.
Credit Union of Georgia has a 4-star rating (exellent) at BauerFinancial based on 6/30/08 data. It's federally insured by the NCUA (Charter # 68571).