Update 10/17/09: The CD rates have fallen. Please check the credit union's website for the latest rates.
Neighborhood Credit Union is offering some very competitive CD rates especially on longer terms. The best ones include a 3.15% APY 30-month CD, a 3.65% APY 48-month CD and a 4.15% APY 60-month CD. The mid-term CDs are not quite as good, but they're still quite competitive with a 2.15% APY for a 12 and 18 month term. Minimum deposit is $50,000. The rates are 15 basis points lower for a $2,500 minimum. The same rates are also available in IRA certificates. These rates are listed in the credit union's rates page as of 8/19/09. There's an effective date of 8/18/09 on the page.
The credit union also has a good CD deal for your children who are 12 to 17 years of age. It's called the Smart CD and it pays 10.00% APY for a maximum principal balance of $1,000. The CD matures when the child turns 18. So for a 12-year-old, you can get 6 years of 10% APY on an initial deposit of $1,000. That gives you an extra $500 over a 4% 6-year CD.
Membership is open to those who live or work within the City of Arlington, Dallas County or Ellis County or within 8 miles of any Neighborhood Credit Union branch. Refer to the credit union's How to Join Page for the full details. Membership requires a minimum balance of $25 in the regular savings account.
Neighborhood Credit Union's ratings for safety and soundness are decent: 3 stars (performing) at Bankrate.com and 4 stars (excellent) at BauerFinancial. Both ratings are based on 3/31/09 financial data. The credit union is federally insured by the NCUA (Charter # 67681).
Other Competitive Certificate of Deposit Rates