Checking Account Bonus & CD Deals at MIDFLORIDA Credit Union - Local Only

MIDFLORIDA Credit Union has some good deals for depositors. First, the credit union has some competitive certificate and IRA certificate rates. The most competitive ones include:

• 2.00% APY 19-month (2.25% IRA)
• 2.25% APY 25-month (2.50% IRA)
• 2.50% APY 37-month (2.75% IRA)
• 3.00% APY 49-month (3.25% IRA, 3.50% Jumbo IRA)

Senior certificate rates are 10 basis points higher than the non-IRA rates listed above. Minimum deposit is $1,000. These rates are listed at the credit union's CD rates page as of 4/16/2010. Note, you have to enter a local zip code to see these rates. I used the zip code 33830.

Checking Account Bonus

The credit union is offering a $50 gift card and an eco bag when opening its new Green Checking Account. This promotion is listed at the credit union's Green Checking page as of 4/16/2010. Here's some important small print:

For the account to qualify as Green Checking you must accept and open online banking, online bill pay, eStatement, eNotice, direct deposit and a debit card. [...] Gift card will be mailed to the address on the account once the following criteria have been met within 30 days of account opening: Five debit card transactions and acceptance of eStatement after sign-on to midflorida.com.

Minimum opening deposit is $50, and there are no minimum balance requirements.

The checking account bonus is not that much, but if you're going to open the CD, the checking bonus may be worthwhile.

Membership

Membership is open to anyone who lives, works, worships or attends school in Polk or Highland County, Florida. Membership requires a $5 minimum balance in the share savings account. Please refer to the credit union's About page for the full details.

Overview

MIDFLORIDA began in 1954 as Polk County Teachers Credit Union. Since then it has expanded its charter to the communities of Polk and Highlands counties.

The credit union's rating for safety and soundness is superior at BauerFinancial with a 5-star rating. For some reason it's not rated at Bankrate.com. It's a large credit union with $1.4 billion in assets. The credit union is federally insured by the NCUA (Charter # 68600).