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7.00% 70-Week CD ($25K Max) at First Community FCU in Michigan


Update 11/22/08: The CD special is no longer listed at the credit union's website. It appears to have ended.

First Community Federal Credit Union is offering a special 7.00% APY 70-week CD. The minimum deposit is $300, and the maximum deposit is $25,000. It requires a checking account and direct deposit of $400 or more per month. It's also available in an IRA. A reader mentioned that it has been going on since the first of the month. It's a limited time special so it could end at any time.

Often these special CDs have a small maximum deposit, but a $25K maximum isn't too bad. With a $25K deposit you'll earn about $1,000 more than a 4% CD over the 70 weeks.

Membership is open to anyone living or working within the following 9 southwestern counties of Michigan: Allegan, Barry, Berrien, Branch, Calhoun, Cass, Kalamazoo, St. Joseph, and Van Buren. Please refer to the credit union's Membership Page for the full details. Membership requires a minimum $5 balance in the share savings account.

Branches are located in the Michigan cities of Parchment, Richland, Kalamazoo, Plainwell, Portage, Battle Creek and Mattawan. The credit union is federally insured by the NCUA (Charter # 2885).

The credit union has some decent financial ratings for soundness: 3 stars (adequate) at BauerFinancial and 4 stars (sound) at Both are based on 6/30/08 data.

Thanks to the reader who emailed me news of this special.

  Tags: Michigan, CD rates, IRA rates

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Comment #1 by Anonymous posted on
That seems like a great deal. Can I rent a PO Box in MI and open this a/c? Just kidding (but it certainly is tempting).

Comment #2 by Anonymous posted on
I'm sure a lot of us would like to do that!