3.15% 8-Month CD at Canyon State Credit Union in Arizona (up to 3.65%)

Update 2/28/09: The CD rates have fallen. The new base rates range from 2.50% to 2.65% APY.

Canyon State Credit Union is having another March Madness CD promotion with an 8-month certificate. The base yield of the 8-month certificate ranges from 3.00% APY for a $1,000 minimum to 3.15% APY for a $100,000 minimum. If you pick a Final Four team, the APY increases 0.25%. If you pick the champion, the yield increases to 0.50%. All certificates must be opened by March 18, 2009.

Last year the credit union had the same promotion, but the base rate was up to 4.65% APY. It's much lower this year as you would expect with the current rate environment, but it's still an excellent deal even if you don't pick the right team.

Membership is open to those who live, work or worship in most areas of Arizona. Please see the credit union's Member Eligibility page for the full details. Membership requires a minimum deposit of $25 in the savings account.

Branches are located in Phoenix, Goodyear, Payson, Tempe and Tucson, AZ. The credit union is federally insured by the NCUA (Charter # 68502).

Tags: Canyon State Credit Union, Arizona, CD rates