SchoolsFirst FCU continues to offer a promotional 3-year share certificate with a 3.00% APY. Minimum deposit is $500, and the maximum deposit is $75,000. It's also available in an IRA. The promotion is listed at this credit union's promo page as of 12/03/09.
My last post on this deal was in October. In addition to this 3-year CD, they also had two add-on CD specials. They still offer these, but the rates have gone down a bit since October. The current rates are 1.50% APY for 7-month term and 2.00% APY for a 17-month term. Unfortunately, additional deposits are only allowed up to the initial opening balance.
Membership elgibility is primarily employer based. Eligible employers include most schools in Southern California. Refer to the credit union's membership page for further details. There is a $15 one-time membership fee which seems expensive since it can be done online. A minimum $5 deposit in your share savings account is required for membership.
Branches are located throughout Southern California including the cities of Anaheim, Irvine, Cerritos, Fullerton, Cypress, San Bernardino and Santa Ana.
SchoolsFirst FCU's ratings for safety and soundness are above average: 4 stars (excellent) at BauerFinancial and 3 stass (performing) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The credit union is federally insured by the NCUA (Charter # 24212).
Thanks to the reader who mentioned this special CD in the comments.
Other Competitive Certificate of Deposit Rates