Dedicated to Deposits: Deals, Data, and Discussion

3.75% Jumbo 60-Month CD at Coastline FCU in North Florida - Local Only

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Coastline Federal Credit Union
Coastline Federal Credit Union is offering a 3.75% APY on its Jumbo 60-month CD with a $75,000 minimum deposit. This is also available in an IRA, but with only a $1,000 minimum. For the regular CD, the rate goes way down for small balances (2.50% APY for a $1K minimum). These rates are listed in the credit union's rates page as of 12/21/09.

Once nice feature of the credit union's certificates is a mild early withdrawal penalty. According to page 25 of the disclosure document:
If your account has an original maturity of more than one year: The penalty we may impose will equal three month’s dividends on the amount withdrawn subject to penalty.

Most long-term CDs have an early withdrawal penalty of at least 6 months. A small penalty is a nice feature these days when there's a chance that rates may shoot up in the next few years.

Membership is open to anyone who lives, works, worships or attends school in Baker, Clay, Duval, Nassau or St. John's County. Please refer to their About Us page for more details. Membership requires a minimum deposit of $5 in the share savings account.

Branches are located in Jacksonville, Florida.

The credit union's ratings for safety and soundness are above average: 4 stars (excellent) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The credit union is federally insured by the NCUA (Charter # 1115).

Other Competitive Certificate of Deposit Rates
  Tags: CD rates, IRA rates, Coastline Federal Credit Union, Florida

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