Stanford Federal Credit Union continues to offer a few competitive CD and IRA CD rates. The best is the 2-year CD with yields that range from 2.22% APY for a $1K minimum to 2.43% APY for a $100K minimum. Other competitive ones include an 18-month CD with a top rate of 1.92% APY and a 3-year CD with a top rate of 2.48% APY. IRA CD rates are even higher with top 24-month CD rate of 2.84% APY. These rates are listed in the credit union's rates page as of 8/10/2010.
There's also a nice step-up 25-month CD. The main feature the credit union highlights is the step-up feature which gives you one opportunity to step-up to a currently higher rate. However, the best feature in my opinion is the add-on feature. Additional deposits may be made at anytime prior to maturity. Add-on CDs are a great account to have to help protect against an extended low interest rate environment.
You do have to give up some interest by choosing this 25-month step-up CD over the regular 24-month CD, but the rates are still quite competitive for a 2-year term. The 25-month CD rates range from 1.92% APY for a $1K minimum to 2.12% APY for a $100K minimum. These rates are listed in the credit union's rates page as of 8/10/2010.
Another good deal is the credit union's Health Savings Account (HSA). The rate is 3.04% APY (as listed in the deposit rates page as of 8/10/2010). Unfortunately, this rate has gone down quite a bit since my last post on Stanford FCU in May when the rate was 4.86% APY.
According to the credit union's membership page:
Not a part of the Stanford community, not a problem. By joining the Museum of American Heritage (MOAH) or Friends of Palo Alto Libraries (FOPAL) you will become eligible to become a member of Stanford Federal Credit Union
Credit union membership requires a minimum $50 balance in an account
Branches are located in Stanford and Palo Alto, California. The credit union is also a member of CU Service Centers which allows you to perform many transactions at branches of other credit unions which are part of the network.
The credit union'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 Stanford FCU rates and reviews page). The credit union is federally insured by the NCUA (Charter # 13392).
Note, Stanford Federal Credit Union has no affiliation with Stanford International Bank that was accused of a fraud by the SEC on February 2009.
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.