Dedicated to Deposits: Deals, Data, and Discussion

3.80% 15-Month CD at Co-op Services CU in Michigan - Easy Membership

POSTED ON BY

Co-op Services Credit Union is offering a special 3.75% APY 15-month certificate. Minimum deposit is $1,000. The APY is 3.80% for a $25K minimum and 3.85% for a $100K minimum. The special CD is also available in an IRA with much higher rates: 4.25% APY for a $500 minimum, 4.30% APY for $25K minimum and 4.35% APY for a $100K minimum. These rates are listed in the credit union's rate table as of 1/13/09.

It appears anyone can join the credit union via membership into an association. According to the credit union's About Us Page:
A consumer group called Cooperative Services, Inc founded us in 1954. Anyone in the world may join that group with a two-dollar lifetime membership fee. Once you do, you are eligible to join this credit union and open a savings account with as little as a five dollar deposit, no matter where in the world you happen to live.

Branches are located in the Michigan cities of Dearborn, Livonia, Melvindale, Southgate, Walled Lake and Westland.

This same CD promotion is also available at Priority Community Financial which appears to have just completed a merger into the Co-op Services Credit Union. Priority Community Financial has branches in Detroit, Southfield and Westland.

The credit union has fair ratings for soundness: 3 stars (performing) at Bankrate and 4 stars (excellent) at BauerFinancial. Both ratings are based on 9/30/08 financial data. The credit union is federally insured by the NCUA (Charter # 62426).
  Tags: Michigan, CD rates, IRA rates

Related Posts

Comments
Comment #1 by Serah (anonymous) posted on
Serah
Their website states that a branch visit is required to complete the membership application. So I don't know about the anywhere in the world part - that seems to be only if you are already a member.

1