Dedicated to Deposits: Deals, Data, and Discussion

3.00% 24-Month CD at Sound Credit Union in Washington State - Local Only

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Sound Credit Union
Update 7/04/09: The CD rates have fallen. Please check the credit union's website for the latest rates.

Sound Credit Union is offering a very competitive 2-year CD with a rate of 3.00% APY. Minimum deposit is $500. There's also a competitive 18-month CD with a 2.50% APY. The 18-month is labeled as a flex CD, but I don't see where they describe the flex feature. These CDs are also available in an IRA. These rates are listed in the credit union's rate table as of 6/15/09.

My last post on this credit union was in September 2008 when it was offering a 4.25% 12-month CD. The credit also had competitive CD rates before this, so you can see they have a history of high rates. You can also see how the rates have fallen in the last 9 months.

Membership is open to anyone who lives or works in Washington State or who has a direct relative who is a member or would be eligible to be a member. Please refer to their You-Can-Join page for the full details. Membership requires a minimum $25 deposit in the savings account. Note, a reader in the previous post mentioned being told by the credit union that they require you to come into a branch to join.

Branches are located in the Washington cities of Auburn, Lakewood, Gig Harbor, Key Center, Olympia, Puyallup and Tacoma. The credit union is federally insured by the NCUA (Charter # 66331).

As its name implies, the credit union has some top ratings for financial soundness: 5 stars (superior) at BauerFinancial (based on 3/31/09 data) and 4 stars (sound) at Bankrate.com (based on 12/31/08 data).

Other High Certificate of Deposit Rates
  Tags: Washington, CD rates, Sound Credit Union

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