Members First Credit Union is offering some competitive long-term CD and IRA CD rates. The best is a 3.25% APY 5-year CD. The special 27-month CD is also competitive with a 2.00% APY. Minimum deposit is $1,000. These rates are listed in the credit union's rates page as of 8/27/2010.
One thing I like about this credit union is they clearly list the early withdrawal penalties right below the rate table. The penalties for terms of 4- and 5-year terms is 180 days of interest. Terms from 2 to 3 years is 90 days of interest.
Membership is open to those who who live, work, worship, or attend school or post-high school in the following Michigan counties: Midland, Clare, Gladwin, Isabella, Gratiot, Saginaw, or Bay. Please refer to the credit union membership page for the full details.
The credit union's overall health score is 4 out of 5 with a Texas Ratio of 2.96% at DepositAccounts.com (see our financial overview of Members First Credit Union). This is based on June 2010 data. The credit union is federally insured by the NCUA (Charter # 62076).