Ohio Valley Community Credit Union is listing a 4.02% APY for its 60-month regular and IRA certificates. Minimum deposit is $1,000 for the regular CD and $500 for the IRA. The 48-month CD rate is also competitive with a 3.14% APY. These rates are listed in the credit union's rates page as of 4/19/2010.
It's rare to find any CDs these days with a 4% yield. Another thing to consider when buying long-term CDs is the early withdrawal penalty. According to the credit union's disclosure, it's 182 days of dividends (interest) on the amount withdrawn. However, under the transaction limitations it states that you are not allowed to withdraw principal before maturity so it appears that the credit union is leaving open the right to refuse early withdrawal.
Membership is open to anyone who lives, works, attends school or worships in Monroe, Belmont and Washington Counties in Ohio. Please refer to the credit union's Who-Can-Join page for the full details.
The credit union's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). The credit union is federally insured by the NCUA (Charter # 60913).
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