Garden Savings FCU is offering a special 5-month share certificate with a yield of 4.00% APY. The credit union also has fairly competitive long-term CDs with an APY of 4.59% for terms of 4 and 5 years. One nice feature of these CDs is a mild early withdrawal penalty of only 90 days of interest. Minimum deposit is $500. These rates are listed in the credit union's rate table as of 12/05/08.
Membership is open to those who live, work, worship, or attend school in Newark, Elizabeth, or Jersey City. In addition, you can be eligible to join via Select Employer Groups and via family. Please refer to their membership page for more details. Membership requires a minimum deposit of $5 into the share savings account.
Branches are located in Parsippany, Newark, Whippany, Montville and Morristown, NJ. The credit union is federally insured by the NCUA (Charter # 18710).
Garden Savings FCU has decent ratings for soundness: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at BauerFinancial. Both ratings are based on 6/30/08 data.