E-Central Credit Union continues to offer a special 12-month semi-liquid CD. The rate has fallen since my June post, but it remains competitive with a 2.00% APY. This special is listed in the credit union's News Center page as of 10/26/09.
The credit union calls this 12-month CD a liquid certificate since you're allowed to withdraw as often as every 7 days up to 50% of the initial deposit. Your funds are available 30 days after you open the certificate. Minimum deposit is $5,000, and new money is required.
Membership is open to anyone who belongs to another credit union. I'm not sure if there are additional requirements for this, but this is what is stated in the credit union's Eligibility page. You can also qualify if you live, work, worship, or attend school in one of many California cities. Please refer to the eligibility page for the full details. Membership requires a $5 fee and a $25 minimum deposit in your savings account.
Branches are located in Pasadena and Los Angeles, California.
The credit union's ratings for safety and soundness are above average: 4 stars at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The credit union is federally insured by the NCUA (Charter # 62323).
Thanks to the reader who mentioned this special in the bank deals hub page.
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