United SA Federal Credit Union continues to offer competitive long-term CD and IRA CD rates. The best one is a 3.04% APY 5-year CD. The rates for the shorter terms have gone down a bit since my September post. Those include a 2.63% APY 4-year CD and a 2.17% APY 3-year CD. Minimum deposit is $500. These rates are listed in the credit union's rates page as of 11/21/2010. Above the table it lists a date range of November 18th to November 24th.
As a comparison to internet banks as of 11/21/2010, the best 5-year CD rate is 2.60% APY at Acacia Federal Savings Bank, and the best 3-year CD rate is 2.05% APY at Bank of Internet USA. For credit unions with easy membership, the best 5-year and 3-year CD rates are 3.03% APY and 2.27% APY at Melrose Credit Union.
One small perk with United SA's 3-year CD is that it has a bump-up feature that allows you to "request a one-time rate adjustment to match the current published rate." The maximum rate increase is 1%, and the term remains the same after the adjustment. According to the credit union's share certificates page, this feature is only for the 24-month and 36-month CDs, and the initial rate is the same as the regular certificate rate.
The credit union also offers a reward checking account. I first reported on this reward checking account in October 2007 when it was paying 6.01% APY. The rate has fallen considerably, and it now pays only 1.26% APY for balances up to $25K.
Membership is open to those who live, work, worship or attend school in Bexar County, Texas. Please see the credit union membership page for the full details. Membership requires a minimum deposit of $5 into the savings account.
Branches are located in San Antonio, TX.
The credit union has an overall health score of 3 out of 5 with a Texas Ratio of 17.60% (excellent) based on June 2010 data. Please refer to our financial overview of United SA Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 10245).
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