South Jersey Federal Credit Union continues to offer competitive CD and IRA CD rates. The best rates require a $50K minimum deposit. These include a 3.20% APY 5-year CD, a 2.38% APY 3-year CD and a 1.61% APY 1-year CD. Lower rates are available for a $20,000 minimum and a $1,000 minimum deposit. These rates are listed at the credit union's CD rates page as of 9/13/2010.
The credit union also has decent rate on its MEGA Money Market Account: 1.36% APY with a minimum balance of $100,000. This is listed in the credit union's money market rates page as of 9/13/2010.
Membership is open to anyone who lives, works, worships or attends school in any of the following New Jersey communities: Atlantic City, Bridgeton, Camden, Millville, Pleasantville, Salem and Vineland. You can also be eligible via select employers or via family. Please see the credit union's eligibility page for more details. Membership requires a one-time $10 fee and a minimum deposit of $25 into the Statement Savings account.
Branches are located in the New Jersey cities of Deptford, Camden, Pleasantville, Egg Harbor Township, Vineland and Voorhees.
The credit union has an overall health score of 4 out of 5 with a Texas Ratio of 15.64% (excellent). Please refer to our financial overview of South Jersey Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 3951).
Searching for the Best CD Rates
It's getting difficult to find 5-year CDs with yields above 3.00%. For those who have $175K to invest, USAA Bank is offering a 3.10% APY 5-year CD nationwide. For smaller balances, 3% is about all that you can get. Sallie Mae Bank continues to offer a 3.00% APY 5-year CD that's available nationwide. These rates are as of 9/13/2010.
To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com: