PrimeWay Federal Credit Union is offering two competitive long-term certificate rates: 3.80% APY for a 5-year term and 3.29% APY for a 4-year term. Minimum deposit is $500. These are also available in an IRA certificate. Elite and Premier Checking Account holders receive an additional 25 basis points on certificates. These rates are listed in the credit union's rates sheet (pdf) as of 9/25/09.
More details on these CDs are available from the credit union's disclosure. According to the disclosure, the penalty for early withdrawal for terms over one year is 180 days of dividends on amount withdrawn.
Membership is open to those who live, work, worship, go to school in the City of Houston or Washington County. Please refer to the credit union's membership page for the full details. Membership requires a minimum deposit of $25 into the savings account.
Branches are located in Houston and Brenham, Texas. The credit union is part of the CU Service Centers which allows you to conduct many transactions at other credit unions which are part of this network.
My last post on this credit union was in November 2008 when it was offering a 4.32% 6-month CD.
Primeway FCU has some strong financial ratings for soundness: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). The credit union is federally insured by the NCUA (Charter # 2131).
Other Competitive Certificate of Deposit Rates