One Year CD Yield as High as 4.40% at Generations FCU in Texas
Update 12/19/08: The CD rates have fallen. Please check the credit union's website for the latest rates.
Generations FCU continues to offer competitive CD rates. The best rates are on its Jumbo Term Share Certificates. These include a 4.10% APY 6-month CD, a 4.40% APY 12-month CD, a 4.50% APY 24-month CD and a 4.70% APY 36-month CD. Minimum deposit is $100,000. The rates for its Regular Term Share Certificates are 10 basis points lower and require a minimum deposit of $1,000. These are also available in an IRA. These rates are listed in the credit union's rate table as of 12/16/08.
My last post on these CDs was in October.
Membership is open to all those who live, work, worship, attend school or volunteer in Bexar County, Texas. Please refer to the credit union's Membership Page for more details. Membership requires a $5 deposit in the share savings account.
Branches are located through out San Antonio. The credit union is federally insured by the NCUA (Charter # 4015).
Banks Mentioned in this Post:
| Generations Federal Credit Union Locations: 9 Health Rating:  |   |
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3-year Term IRA CD
1.21% APY
Capital One 360
360 Checking Account
0.85% APY
Anonymous - #1, Tuesday, December 16, 2008 - 10:13 AM
Is there a typo or is it really a minimum deposit of $100,000.
Anonymous - #2, Tuesday, December 16, 2008 - 11:13 AM
US$100K is an unremarkable minimum for a Jumbo CD. Also as regards the six and twelve month terms, at US$100K there is no hazard related to insufficient insurance coverage. With the 24 month CD you might, or might not, end up having to name a beneficiary to sustain your NCUA insurance coverage after 12/31/09. Depends whether Congress extends the current US$250K limit.
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