Dedicated to Deposits: Deals, Data, and Discussion

4.30% 15-Month IRA CD at United Heritage Credit Union in Texas


United Heritage Credit Union
United Heritage Credit Union is offering a special 15-month IRA CD with an APY of 4.30%. Minimum deposit is $1,000, and there's no maximum. Funds can be a new contribution or a transfer of an existing IRA. The rate is listed at the credit union's promotion page as of 1/08/09.

United Heritage also offers a reward checking account that currently pays 5.01% APY on balances up to $25K (see post).

Membership is open to those who live, work or attend school in Travis, Williamson, Bastrop, Caldwell, Hays, Smith or Wood County, Texas. You can also be eligible via family or select employer groups. Refer to the credit union's Eligibility Page for more details. Membership requires a minimum balance of $1 into the savings account.

Branches are located in Austin, Cedar Park, Georgetown and Round Rock in Central Texas and in Tyler in Northeast Texas. The credit union is federally insured by the NCUA (Charter # 68251).

Other Options for IRA Certificates of Deposit

Last Sunday I posted on Apple FCU's 4.50% 14-month IRA CD special. Apple FCU is based in Virginia but allows membership via associations. The early part of the year is a common time for financial institutions to offer IRA deals since April 15th is the deadline for making a previous year IRA contribution. One reason an institution will offer CD deals for only IRAs is that it's harder to move your money when a CD matures. With an IRA you'll have to do a trustee-to-trustee transfer which can take time and make it hard to quickly jump on CD deals. That's one reason it can be easier to keep an IRA at a discount broker which offers brokerage CDs (see post).

  Tags: United Heritage Credit Union, CD rates, IRA rates, Texas

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Comment #1 by Dodge (anonymous) posted on
Correct me if I am wrong.
You still don't have to do a trustee to trustee transfer if you roll it over within the time period and report it as a rollover on your tax form-no penalty. Just push the correct amount around.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
I found this article on moving an IRA to another bank. It looks like rollovers are an option.