4.06% 48-Month CD & 3.29% 36-Month CD at Founders FCU in SC/NC - Local Only

Founders Federal Credit Union is offering some very competitive long-term CD rates. These include:

• 4.06% APY 48 months
• 3.29% APY 36-47 months
• 2.50% APY 24-35 months

Minimum deposit is $500. Rates are 10 basis points higher for IRA CDs. These rates are listed at the credit union's rates page as of 12/08/09.

Membership is limited to those who live, work, worship, volunteer or attend school in certain designated areas. The credit union's eligibility page doesn't provide details. Two years ago it used to list Chester and Chesterfield counties of South Carolina and the cities of Wellford and Duncan. I called the credit union today, and I wasn't able to get more details. If you live near one of their offices, call and see if you can be eligible. They also have a long list of eligible companies and organizations in which you can qualify to join the credit union. Membership requires a minimum $5 deposit into the regular savings account.

Branches are located in the South Carolina counties of Chester, Chesterfield, Lancaster, Spartanburg and York, and in Mecklenburg County, North Carolina.

Founders' ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 9/30/09 data) and 4 stars (sound) at Bankrate.com (based on 6/30/09 data). The credit is federally insured by the NCUA (Charter # 24063). It's a large credit union with over $1.5 billion in assets.

Other Competitive Certificate of Deposit Rates

• CD rates at DepositAccounts.com
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