Dedicated to Deposits: Deals, Data, and Discussion

3.10% 24-Month CD at CEFCU in California and Illinois


Citizens Equity First Credit Union (CEFCU) is offering a special 2-year CD with a 3.10% APY. Minimum deposit is $1,000. The jumbo CD rate is 3.20% APY for a $100,000 minimum. This CD special is available at both CEFCU's Illinois branches and at CEFCU's newly acquired Valley Credit Union branches in California. These rates are listed at both CEFCU's rate table and at this Valley CU promotional page as of 3/10/09. The small print at the Valley CU page states that the rates are available through March 24, 2009. These rates don't apply to IRA certificates.

Valley Credit Union was recently assumed by CEFCU on December 31, 2008. This was arranged by the NCUA while the NCUA was operating Valley CU in a conservatorship. The conservatorship started in early September 2008. It appears Valley CU will continue to operate for the time being with the same branches and field of membership. However, Valley CU members appear to now be officially CEFCU members. CEFCU is an Illinois based credit union which services a 14-county area in Central Illinois.

Valley CU membership is open to those who reside, regularly work or regularly worship in Santa Clara County, Contra Costa County or Alameda County. You can also be eligible to join via select employee groups and immediate family. Please refer to the credit union's Membership Page for the full details.

CEFCU membership is open to anyone who lives or works one of the following Illinois counties: Fulton, Knox, Livingston, Logan, Macon, Marshall, Mason, McLean, Peoria, Putnam, Sangamon, Stark, Tazewell and Woodford. You also can be eligible via Select Employee Groups or via immediate family. Please see their Eligibility page for more details. Membership requires a $1 membership fee and a minimum deposit of $5 into the savings account.

CEFCU has solid ratings for safety and soundness: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Both ratings are based on 9/30/08 financial data. CEFCU is federally insured by the NCUA (Charter # 68448).

Thanks to the reader who mentioned this CD special in the finding-the-best-deals post.

Related Pages: California, Illinois, CEF Credit Union, CD rates, Valley Credit Union

Related Posts

Comment #1 by Best Bank CD Rates (anonymous) posted on
Best Bank CD Rates
It sure would be nice if more credit unions would find ways to offer nationwide membership like Alliant CU and Pentagon. Of course, that would probably bring even more ire from banks who hate their tax-exempt status.