Navy Army Federal Credit Union continues to list competitive certificate rates, money market rates and reward checking rates. The top CD rate is a 2.40% APY for a 2-year term. Below is the full list of CD rates as shown on the credit union's rates page as of the morning of 6/21/10
Term APY $1K Min APY $100K Min
3 month 1.50% 1.55% 6 month 1.60% 1.65% 9 month 1.65% 1.70% 12 month 2.00% 2.10% 24 month 2.25% 2.40%
The IRA CD rates are even better: 2.25% APY for 1 year and 2.70% APY for 2 years ($100K minimum, 0.10% less for $1K minimum).
The top money market account rate is 1.65% APY for a $50K minimum balance as of 6/21/2010. Other rate tiers include 1.35% APY $25K-$50K and 1.25% APY $2K-$25K. One downside is that withdrawals have a minimum of $500.
The credit union's reward checking account continues to pay 4.51% APY for balances up to $25,000 as of 6/21/2010 (see post).
Membership is open to those who live, work, worship or attend school in one of the following Texas counties: Aransas, Bee, Jim Wells, Kleberg, Nueces and San Patricio. Refer to the credit union's Who-Can-Join page for more details. Membership requires a $15 membership fee and a minimum deposit of $25 in the savings account. Most credit unions don't have a membership fee so this may be something you can negotiate. The credit union does have a history of competitive CD rates so the upfront cost may still be worth it.
Branches are located in the Southeast Texas cities of Corpus Christi, Kingsville, Beeville, Portland and Rockport.
NavyArmy FCU's ratings for safety and soundness are above average: 4 stars (excellent) at BauerFinancial, 3 stars (performing) at Bankrate.com and an overall health score of 4 out of 5 at DepositAccounts.com (see our NavyArmy FCU rates and reviews page). These ratings are based on March data except for Bankrate which is based on 12/31/09 data. The credit union is federally insured by the NCUA (Charter # 9998).