Dedicated to Deposits: Deals, Data, and Discussion

4.50% 60-Month CD & 3.75% 24-Month CD at PSECU in Pennsylvania


PSECU is offering several competitive certificate rates. These include a 4.50% APY 60-month CD, a 3.75% APY 24-month CD and a 3.50% APY 12-month CD. Minimum deposit is $500. These rates also apply to IRA certificates. These rates are listed in the credit union's rate table as of 1/15/09. The table has a date range of 1/12/09 to 1/19/09.

One nice feature of these certificates is a low early withdrawal penalty. According to this Ask PSECU page, the penalty is 90 days of dividends on the principal amount withdrawn. This appears to be for all terms. Typically, CDs with terms over one year have at least an 180-day penalty.

PSECU's money market account is better than the average brick-and-mortar variety. It currently pays 2.08% APY with a minimum balance of $500 and has no fees. In my last PSECU post in September 2007, it was paying 4.55% APY.

Another perk that will soon be available to PSECU members is free availability to one's FICO credit score. The Wall Street Journal reported this news today.

Membership is open to those in Pennsylavania who work in the government or schools or who are students or alumni of certain Pennsylvania Colleges. Members of the Pennsylvania State Education Association are also eligible. For more details, please refer to the credit union's eligibility page. Membership requires a minimum $5 deposit into the regular shares savings account.

Branches are located in Harrisburg and Indiana, PA. The credit union is federally insured by the NCUA (Charter # 64131). It's a large credit union with $3.2 billion in assets and 347,828 members.

  Tags: Pennsylvania, CD rates, IRA rates

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