Gateway Regional Credit Union is listing very competitive rates for its regular and IRA certificates. The best rates are for terms of 12 to 60 months. The rates include 3.56% APY for 12 months, 3.81% APY for 24 months, 3.98% APY for 36 months and 4.60% APY for 60 months. Minimum deposit is $1,000. These rates are listed in the credit union's rate table as of 3/19/09. The effective date listed on top of the table is 3/11/09.
Membership is open to anyone who lives or works in certain areas of St. Louis, Missouri. Also eligible is anyone living or working in the 8th Federal Reserve District who is not served by another credit union. This includes many counties in the states of Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. For more details regarding eligibility, refer to the credit union's Who Can Join Page. All of the counties for the above states are listed in credit union's 8th Federal Reserve District Eligibility Page. Membership requires a $25 balance in the share savings account.
Update 3/20/09: A reader noted another large group eligible for membership: "Employees and retirees of the federal government." The reader also confirmed that you can join the credit union and open accounts by mail.
The credit union has strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial (based on 12/31/08 data) and 4 stars (sound) at Bankrate.com (based on 9/30/08 data). The credit union is federally insured by the NCUA (Charter # 62711).
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.