Dedicated to Deposits: Deals, Data, and Discussion

1.90% 9-Month CD & 1.65% 5-Month CD at EDS Credit Union in Several States - Local Only


EDS Credit Union's rates on its certificate specials have dropped in the last couple of months, but they remain competitive. The best deal is a 1.90% APY 9-month certificate with a $50,000 minimum (1.75% APY for a $1,000 minimum). There's also a 1.65% APY 5-month certificate with a $25,000 minimum. The standard certificate rates are also fairly competitive. The most competitive include a Jumbo 24-month CD with a 2.40% APY and a Jumbo 60-month CD with a 3.30% APY. These rates are listed in the credit union's rates page as of 1/06/2010.

In addition to EDS employees, membership is open to persons who live or work in Collin County, Texas. Also, eligible are persons who live, work, worship or attend school within a 10-mile radius of certain EDS Credit Union locations. For more details on eligibility, please refer to the credit union's How to Join page. In the online application, many of the eligibility details are listed in a form. The easiest way to find out about eligibility and to learn about the best way to apply is to call their toll-free number at 800-337-3328 (Option 5).

Branches are located in Plano, Frisco and Carrollton, Texas; Santa Ana, California; Auburn Hills, Pontiac, Detroit and Troy, Michigan; Camp Hill, Pennsylvania; Herndon and Sterling, Virginia. Note, several branches are inside secure buildings (probably EDS facilities) and have limited access.

EDS 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 (based on 6/30/09 data). The Bankrate rating is down by one star since my October post. The credit union is federally insured by the NCUA (Charter # 68505).

Other Competitive Certificate of Deposit Rates

I'm afraid it's hard to find CD rates of 2% or higher for terms under one year. For a federally insured institution, the best nationwide deal I know about is 1.77% APY for a 10-month CD at EBSB Direct (see my weekly rate summary). For other top CD rates, please refer to:

  Tags: California, Virginia, Michigan, Pennsylvania, CD rates, Texas

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Comment #1 by Anonymous posted on
EDS Credit Union will be renamed InTouch Credit Union around Feb 16, 2010.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. That makes sense since they appear to be trying to broaden their reach beyond just EDS employees.