Randolph-Brooks Credit Union is offering several competitive CD and IRA CD rates especially for its long-term CDs. The best rates require a minimum deposit of $75K. The rates are 0.05% less for a $20K minimum, and 0.10% less for a $5K minimum. Below are some of the best deals as listed in the credit union's rates page as of 7/12/2010:
- 3.60% APY 7-year CD, $75K min, 420-day EWP
- 3.30% APY 6-year CD, $75K min, 360-day EWP
- 3.00% APY 5-year CD, $75K min, 300-day EWP
- 2.55% APY 4-year CD, $75K min, 240-day EWP
- 2.40% APY 3-year CD, $75K min, 180-day EWP
Note, EWP stands for early withdrawal penalty, and these penalties are stated in the credit union's disclosure (pdf). I included them with the rates since they vary by term, and they're above average for the longer terms. For CD terms over 5 years, it's common to have EWPs of 1-year or more in interest. For example, both Pentagon Federal Credit Union and Navy FCU have a 1-year EWP for their 7-year CDs. Most 5-year CDs only have a 6-month penalty. So that's an important consideration if you're looking to increase your yield.
Membership is open to those who live, work or worship in certain parts of Austin, San Antonio, San Marcos, Seguin and other parts of Central Texas. Please refer to the credit union's membership page for the full details.
The credit union's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial, 4 stars (sound) at Bankrate.com and an overall health score of 4 out of 5 at DepositAccounts.com (see our Randolph-Brooks Credit Union financial overview). These ratings are based on March 2010 data except for Bankrate which is based on 12/31/09 data. The credit union is federally insured by the NCUA (Charter # 8111). It's a large credit union with $3.8 billion in assets.
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.