Dedicated to Deposits: Deals, Data, and Discussion

3.25% 20-Month CD at Mid American Credit Union in Kansas

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Mid American Credit Union
Mid American Credit Union is offering a special 20-month certificate with a 3.25% APY. Minimum deposit is $1,000. It's also available as an IRA certificate (both Roth and Traditional). The special is listed on the credit union's front page and at the top of the credit union's rates page as of 3/20/09.

The credit union also has other competitive rates on its standard certificates. These include a 2.75% APY 6-month CD and a 2.80% APY 12-month CD. There's also a reward checking account called eChecking with a 3.50% APY. However, the balance that qualifies for this rate is very low (only $1,000). On the plus side, the rate for balances over $1,000 is respectable for a checking account (1.75% APY). These rates are listed at the credit union's rates page as of 3/20/09.

Membership is open to those who live, work or worship in one of many counties in Kansas. Also eligible are members of Consumers United Program. I don't see any details of this program, so I recommend contacting the credit union about this program if you want to join. Please refer to the credit union's Membership Eligibility Page for the full details. Membership requires maintaining the Basic Savings Account. Avoiding monthly fees requires maintaining a minimum balance of $100 in any combination of deposit accounts.

Branches are located in Wichita and Larned, Kansas.

The credit union's ratings for safety and soundness are a little weak: 3 stars (adequate) at BauerFinancial (based on 12/31/08 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/08 data). The credit union is federally insured by the NCUA (Charter # 65378).

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.
  Tags: Kansas, CD rates, Mid American Credit Union, IRA rates

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