Dedicated to Deposits: Deals, Data, and Discussion

2.50% 7-Month CD and Other High CD Rates at Members First Credit Union in Parts of NH & MA - Local Only

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Update 8/08/09: The CD rates have fallen. Please check the credit union's website for the latest rates.

Members First Credit Union is offering several competitive rates on its certificates. First, it's offering a 7-month special with a 2.50% APY for a minimum deposit of $10,000. Its regular certificate rates are also very competitive especially on larger deposits. These include a 2.75% APY 8-month CD, a 3.00% APY 13-month CD and a 3.60% APY 37-month CD. Minimum deposit is $100K. Lower rates are available for smaller deposits. The same rates are available as IRA certificates. These rates are listed in the credit union's certificate rates page as of 6/26/09. Note, there's a February date under the rate table. I just called and verified these rates are still valid as of today.

The credit union also offers a high-yield reward checking account. The rate is 4.01% APY for balances up to $25K as of 6/26/09. Refer to my previous post for more details.

Membership is open to anyone who lives or works within 25 mile radius of a Members First branch. Please refer to the credit union's eligibility page for the full details including a list of New Hampshire and Massachusetts cities which meet the location requirement.

Branches are located in Manchester and Franklin, New Hampshire. The credit union is federally insured by the NCUA (Charter # 65491).

Other High Certificate of Deposit Rates

Edit 7/11/09: Updated URLs to bank's new website.
  Tags: Massachusetts, New Hampshire, CD rates, IRA rates, Members First Credit Union

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Comments
Comment #1 by Angelo_Frank (anonymous) posted on
Angelo_Frank
While deposit rates are suppressed in this country, in the U.K. it's the opposite situation. Competition between banking institutions for customer's cash deposits is alive and well with offered rates going up. For an interesting article regarding this phenomena see:

http://www.telegraph.co.uk/finance/personalfinance/savings/5647284/Wealth-workout-savers-win-as-banks-tussle-for-funds.html

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