Atlanta Postal Credit Union continues to offer very competitive short-term CD rates. These include a 1.75% APY 6-month CD and a 2.00% APY 12-month CD. Below is a summary of the CD rates listed in the credit union's rate table as of 4/08/2010.
- 1.50% APY 91-day
- 1.75% APY 6-month
- 2.00% APY 12-month
- 2.25% APY 24-month
- 2.50% APY 30-month
- 2.75% APY 36-month
- 3.00% APY 48-month
- 3.25% APY 60-month
Minimum deposit is $500. These are also available as IRA certificates for terms of 1-year and longer. Above the rate table it states that the rates are effective from April 8, 2010 through April 14, 2010.
One interesting thing to note regarding the rates is how they've changed since my last post on this credit union in January. The short-term CDs with terms under 30 months lost 25 to 50 basis points. However, the rates for terms of 30 months and longer had the same rates as today.
The credit union also offers competitive rates on its regular savings account and its checking account (share draft). As listed in the rates page as of 4/08/2010, the savings account rate is 1.50% APY and the checking account rate is 1.00% APY. These rates are down 50 basis points from January.
The only problem with the savings account is that it limits free withdrawals to 5 per quarter. Additional withdrawals are charged a $2 fee.
Membership is open to all residents of Bibb County in Georgia. Membership is primarily based on select employee groups. In addition to active or retired US Postal Service employees, several other employee groups are listed. Also, all federal employees, active or retired, working or residing in most 310 and 312 zip code area of Georgia are eligible. Membership requires a $25 minimum deposit into a share savings account. Please refer to the credit union's membership page for more details.
The credit union's ratings for safety and soundness continues to be strong: score of 4 out of 5 from our own health review which is based on 12/31/09 data. This score is based heavily on the Texas ratio.
The other financial ratings services also give the bank a high score: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). Atlanta Postal Credit Union is federally insured by the NCUA (Charter # 67389).
Best CD Rates
A 1.75% 6-month CD may not seem competitive. Unfortunately, it is very competitive. The highest APY as of 4/08/2010 at Bankrate for a 6-month CD is only 1.29%. The top APY for an 12-month CD is 1.55%. You can find higher rates in the CD rates section of DepositAccounts.com (with New & improved format!).