Competitive Long-Term CDs with Some Flexible Features at Premier Community CU in Northern CA - Local Only

Premier Community Credit Union is offering some competitive long-term CD and IRA CD rates. Its plain 5-year CD has a rate of 3.00% APY. Minimum deposit is $500 for IRAs and $1,000 for regular CDs. The credit union also has versions of this long-term CD with various flexible features. First is an add-on 5-year CD and IRA CD with a 3.00% APY. The big downside of this add-on CD is that the maximum balance is only $10,000 with a limit of one CD per member. They also have bump-up CDs and liquid no-penalty CDs. The downside with these is a lower rate (2.50% APY for 5-years). For the bump-up CD you can request one rate bump during the term of the CD if rates rise. The liquid CD allows a penalty-free withdrawal with two significant restrictions: 1) No more than 50% of the original balance can be withdrawn without penalty, and 2) Penalty-free withdrawals can be made no more than once per a rolling 12-month period. I'm not sure if these features are worth the loss of this much of the interest rate. The above rates are listed in the credit union's rates sheet as of the morning of 7/28/2010.

Membership is open to those who live or work in San Joaquin County, California. Please refer to the credit union's About Us page for more details.

Branches are located in Stockton, Lodi and Manteca, CA.

The credit union's ratings for safety and soundness are fair: 3 stars (adequate) at BauerFinancial, 3 stars (performing) at Bankrate.com and an overall health score of 3 out of 5 at DepositAccounts.com (see our financial overview for Premier Community CU). These ratings are based on March 2010 data. The credit union is federally insured by the NCUA (Charter # 64515).

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