Dedicated to Deposits: Deals, Data, and Discussion

2.90% 29-Month CD at Money One FCU in Maryland - Local Only

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Money One Federal Credit Union has a "Holding on to 29" CD promotion. It's a 29-month CD with a 2.90% APY. Minimum deposit is $29,000, and new money is required. New members must live within a 29 mile radius of the credit union and qualify for membership. This promotion is listed in the credit union's Current Promotions page as of 10/12/09.

My last report on this credit union was in January 2008 when they were offering a 5.25% 9-month CD. The credit union allows anyone to join so this was an especially hot deal in which many readers were able to participate. With the 29-mile radius restriction in this new deal, it looks like the credit union wants to keep their deals local.

According to the credit union's Membership page, anyone can be eligible for membership by a one-time membership donation to Gifts for Easter Seals. There's also a long list of Select Employee Groups. Membership requires a minimum deposit of $5 into your share savings account.

The credit union's main office is located in Largo, Maryland. There's also an office with limited access in College Park.

The credit union's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 6/30/09 financial data. It's federally insured by the NCUA (Charter # 7264).

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  Tags: Maryland, CD rates

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