Dedicated to Deposits: Deals, Data, and Discussion

2.00% 9-Month CD at Digital Credit Union - Easy Membership


Digital Credit Union
Digital Credit Union is offering a special 9-month certificate with a 2.00% APY. Minimum deposit is $500. It's also available in an IRA. The CD is listed in the DCU's special offers page as of 10/08/09.

It has been a while since DCU last offered a competitive CD special. My last post on a CD special was in January. At that time, the specials didn't last long. In previous years, their CD specials were more common, and they lasted for several months.

Anyone can join DCU via membership in an association. Refer to this credit union page for the list of associations. The least expensive membership is $10 for joining Reach Out for Schools. You can be immediately eligible to join DCU if you live, work, worship or attend school in parts of Georgia and Massachusetts. Refer to the Join DCU page for the full details.

In the instructions for joining DCU there are links to an online membership application and a PDF application. A reader who commented on his experience with the online application in my DCU post from last year provided the instructions he received from DCU after he applied:
In order to continue processing your application, please mail a $5 check or money order payable to DCU to fund your membership.

If you have joined through a sponsoring organization, then please make sure to also include funds to cover that organization's membership fee.

Also, please mail a copy of your driver's license or passport. If sending a passport, or if your license does not show your current address, please also send either a utility bill in your name (electric, gas, home telephone) or a copy of your apartment lease agreement. If you have listed a Joint Owner on your application, that person must also send the required ID and address proof.

Please note, we do not accept cell phone bills, bank statements, credit card statements or pay statements as address verification.

One downside to joining is a potential hard credit inquiry (which can temporarily ding your credit score). Here's what a commenter mentioned in my August 2008 DCU post:
I also have been a five-year DCU member, holding several jumbo CDs with them. Yet, when I added checking to my account this past January, they ran a check on me through Equifax!

Branches are located throughout Massachusetts, in Hudson, Merrimack and Nashua in New Hampshire, in Colorado Springs, Colorado and in Alpharetta, Georgia.

DCU's ratings for safety and soundness are average: 3 stars (adequate) at BauerFinancial and 3 stars (performing) at Both ratings are based on 6/30/09 financial data. DCU is federally insured by the NCUA (Charter # 23521). It's a large credit union with $4.2 billion in assets and 376,824 members.

Other Competitive Certificate of Deposit Rates

  Tags: Massachusetts, New Hampshire, Georgia, Digital Credit Union, Colorado, CD rates, IRA rates

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Comment #1 by Anonymous posted on
Does DCU allow naming a beneficiary for CD's?