Delta Community Credit Union continues to offer some competitive CD rates. Just like others, they've cut rates in the last couple of months, but the rates remain very competitive. Current CD rates include 2.35% APY for 6 months, 2.85% APY for 12 months, 3.05% APY for 24 months and 3.50% APY for 60 months. Minimum deposit is $1,000. The same rates apply to the IRA CDs. The money marekt account has tiered rates that are also fairly competitive. Rates include 1.85% APY for $10K minimum and 2.35% APY for $50K minimum. These rates are listed at the credit union's rate table as of 4/07/09.
One nice feature of the credit union CDs is a mild early withdrawal penalty: 31-day interest penalty for maturities of 12-months or less and 90 days interest-penalty for maturities over 12 months. Please refer to the bottom of the rate page for more details.
My last post on this credit union was in February. A reader described some additional nice features of this credit union:
accrued interest is deposited monthly and reported in monthly statements that are both clear and explicit.
Finally, the icing on the cake: On January 1 of this year, Delta deposited a patronage bonus in my savings account amounting to 4.50% of dividends earned in the prior year.
Credit union membership is open to members of the GettingAhead Association. This appears open to people from any state who pay a $5 membership fee. You can be immediately eligible for credit union membership if you're a resident of one of several Georgia counties in the Atlanta metro area, work for one of their Select Employer Groups, or via family (not just immediate family). Please see the credit union's eligibility page for more details. Membership requires a minimum $5 deposit into the savings account.
Joining the credit union and opening accounts are much quicker if you can visit a branch. Readers commented on their experience joining this credit union in my November post when the credit union was offering a 4.50% 12-month CD. The reader who joined with a branch visit reported a very easy process.
Branches are located throughout the Atlanta Metro area. There are also branches in Florence, Kentucky (Cincinnati Metro); Salt Lake City, Utah; and Southlake, Texas (Dallas Metro).
Delta Community Credit Union has very strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial (based on 12/31/08 data) and 5 stars (superior) at Bankrate.com (based on 9/30/08 data). The credit union is federally insured by the NCUA (Charter # 66357). It's a large credit union with $2.9 billion in assets and 181,259 members.