Dedicated to Deposits: Deals, Data, and Discussion

5.00% 60-Month CD & 4.00% 12-Month CD at TwinStar Credit Union in Parts of WA State

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TwinStar Credit Union
TwinStar Credit Union is offering two very competitive CD rates for parts of Washington State. One is a 4.00% APY 12-month CD and the other is a 5.00% APY 60-month CD. These are also available in IRA certificates, and the rates are 10 basis points higher. Minimum deposit is $500. One important note is that this is only listed in the credit union's rate table for certain Washington State zip codes. These high rates show up for Vancouver and Longview zip codes, but not for other Washington cities. For the other cities, the 12-month CD is 3.05% APY and the 60-month CD is 4.10% APY (4.45% for the IRA). These rates are listed in the rate table as of 1/28/09. According to the CSR, rate changes are usually made at the start of each month, so these probably won't last much longer.

My last post on Twinstar was in 2007 when they came out with a 6% reward checking account without a balance cap. They still offer this account, but the rate has fallen to 4.00% APY as of 1/28/09 with a cap of $30K (see post).

Membership is open to those who work or reside in any of the following Washington state counties: Thurston, Lewis, Grays Harbor, Clark, Pierce, Whatcom, Snohomish, Mason, Cowlitz, Pacific, Wahkiakum, Kittitas, Kitsap, and King. Please refer to the credit union's Join Us Page for the full details.

Branches are located in several Washington cities including Vancouver, Tacoma, Ocean Shores, Onalaska, and Olympia.

The credit union is federally insured by the NCUA (Charter # 68271).

Other 5-Percent Certificates of Deposit

5% CDs are getting very hard to find these days. In fact, I'm afraid it may soon be hard to find 4% CDs over any maturities. There are still a few places where you can get 5% from a federally insured institution.

MBank in Oregon continues to offer a 5% APY 60-month CD. I first posted on this deal in early January. A reader mentioned being able to open this CD by phone, but please note that this policy can often change at small banks. Update 1/29/09: Apparently there was some confusion regarding the policy at the bank. Now the branch visit requirement is being enforced.

Navy Federal Credit Union continues to offer a 5.10% APY 7-year CD. Other good CD deals include a 4.60% 30-month IRA CD and a 3.50% 6-month CD. The only negative with Navy Federal is that you have to have some affiliation with the military to qualify for membership (see post).

  Tags: TwinStar Credit Union, Washington, CD rates, IRA rates

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Comments
2 Comments.
Comment #1 by Andy KLink (anonymous) posted on
Andy KLink
Hello there,

As stated in your original post, MBank policy DOES dictate that a person open a new account in person. There was some confusion in the branches regarding the policy when your first post went live, which is why the poster was able to open an account. Our policy was clarified later that day and subsequent requests were denied. Thanks for your interest in MBank.

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Comment #2 by Jumbo CD Rates (anonymous) posted on
Jumbo CD Rates
That is a shame about the branch visit, but understandable. Especially with a rate that high.

In regards to where CD rates are headed, institutional clients are faced with even lower rates. Most 1-year direct rates are around 2.00% to 2.50%. If you go through a broker they are around 1.50%.

It is doubtful that much will change this year.

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