Eastman Credit Union continues to offer competitive certificate rates. The three most competitive ones include a 2.50% APY 12-month CD, a 2.75% APY 2-year CD and a 3.10% APY 3-year CD. Minimum deposit is $1,000. An extra 10 basis points are applied to Jumbo CDs with a $100,000 minimum deposit. These rates are listed in the credit union's deposit rates table as of 8/21/09.
These CD rates are actually higher than what I posted in July when the 12-month CD APY was only 2.25%. That's nice to see these days.
Membership is open to those who live, work or attend school in several counties in the northeast part of Tennessee. Counties in southwest Virginia and in Harrison and Gregg Counties in Texas are also included. There's also a long list of Select Employer Groups. Please refer to the Who Can Join Page for the full details.
Branches are located in Tennessee, Virginia, Texas, South Carolina and Arkansas.
The credit union's ratings for safety and soundness are a little mixed. Bankrate.com gives the credit union 3 stars (performing). BauerFinancial gives it 5 stars (superior). Both ratings are based on 3/31/09 financial data.
The credit union is federally insured by the NCUA (Charter # 68095). It's a large credit union with $2.1 billion in assets and 109,770 members based on 3/19/09 NCUA data. It has grown quite a bit since 2007 when it had $1.6 billion in assets and only around 81,000 members.
Other Competitive Certificate of Deposit Rates