4.30% 12-Month CD at Peoples Credit Union In South Florida

Update 12/19/08: The CD rate has fallen. Please check the credit union's website for the latest rates.

Peoples Credit Union is offering a special certificate with a yield as high as 4.30% APY for a 12-month term. Minimum deposit is $1,000. The base APY is shown to be 4.00% in the credit union's rate table as of 12/15/08. Higher rates are available with the following checking account activities:

• 0.10% added for an active checking account
• 0.10% added for direct deposit
• 0.10% added for e-statments

My last report on this credit union was in early November when this 1-year CD had a top yield of 4.50%.

Membership is open to anyone who lives, works or owns property in Miami-Dade or Broward County. You can also be elgible via select employer groups. See their membership page for details. Membership requires a $5 membership fee and a minimum deposit of $5 into the share savings account.

Branches are located in Miami, North Miami, Hialeah and Pembroke Pines, Florida.

Peoples Credit Union continues to have solid financial ratings for soundness which is not too common for South Florida financial institutions offering high rates. Current ratings include 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 9/30/08 data. The credit union is federally insured by the NCUA (Charter # 67677).

Tags: People's Credit Union, CD rates, Florida