Service Credit Union continues to offer two certificate specials. The rates have gone down since last month, but they remain competitive: 1.65% APY for 19 months and 1.25% APY for 8 months. Minimum deposit is $1,000, and these are also available in an IRA. The credit union continues to have competitive rates on its standard share and IRA certificates which include a 2.25% APY 3-year CD and a 3.00% APY 5-year CD. These rates are listed in the credit union's rates page as of 8/03/2010. According to the credit union rep, these should last at least until 8/14/2010.
Other CD Specials
In addition to these specials, the credit union has a good low-max CD special: 4.00% APY 4-month CD with a maximum of $1,000. The low max and the short term means you won't earn much on this special, but it's easy to set up if you go there to open other CDs. Note, this special can only be opened at a credit union branch.
The credit union also has some good deals for seniors. There's a Senior Account program in which any person age 62+ who maintains a direct deposit of their Social Security or other payroll check is eligible to receive the 1 Year CD rate + ½% for six months. Based on their current standard CD rate of 1.15% APY, this comes out to a 1.65% APY 6-month CD. Minimum deposit is $250, and add-on deposits are allowed. In addition to senior members, STAR members also qualify. Those who earn less than $43,450 per year can qualify for STAR membership.
There's also a good deal for certain military members. It's called the Warrior Reward Certificate, and it pays 2.15% APY for 6 months as of 8/03/2010. Please refer to the bottom of the rates page for details for the military requirements to qualify for this CD. This CD also requires direct deposit.
Credit Union Membership
Service Credit Union membership is available to anyone living or working in New Hampshire (except Coos County which is way north in NH) and in the Falmouth MA area, as well as anyone related to an existing member (by family), or anyone who has served in the US Military. Please refer to the credit union's membership eligibility page for the full details. Membership requires a $5 minimum balance in the share savings account.
Branches are located in the New Hampshire cities of Bedford, Epping, Keene, Lebanon, Manchester, Newington, Portsmouth, Rochester, Salem and Somersworth and in Falmouth, Massachusetts. There are also branches in Germany to service military members.
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 financial overview of Service CU). These ratings are based on March 2010 data. The credit union is federally insured by the NCUA (Charter # 68375). It's a large credit union with $1.64 billion in assets and $1.24 billion in deposits.