HeritageWest Credit Union is offering competitive rates on its 5-year CD and IRA CD. The yield is 3.03% APY for a minimum of $500 and 3.18% APY for a minimum of $100,000. The rates for the shorter terms are much lower and not nearly as competitive. These yields are listed in the credit union's certificate rates page as of 8/24/2010.
I couldn't find many membership details on the credit union's website so I contacted the credit union yesterday. According to a credit union rep, membership is open to those who live, work, or do business in Tooele or Salt Lake County, or those who have a blood relative that meets one of these requirements.
Branches are located in the Utah cities of Tooele, Stansbury Park, Grantsville and South Jordan.
Division of Chartway Federal Credit Union
The credit union was merged into Chartway Federal Credit union on January 1, 2010 after being liquidated by the NCUA. It now operates as a division of Chartway and will continue to operate under the HeritageWest name. The credit union's name before 2008 was Tooele FCU.
The nice thing about this merger is that it's now part of a strong credit union. Chartway'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 financial overview of Chartway Federal Credit Union). The DepositAccounts.com rating is based on June 2010 data. The other ratings are based on 3/31/10 data. Chartway FCU is federally insured by the NCUA (Charter # 13242).
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