F&A Federal Credit Union continues to offer top rates on its money market accounts and CDs. I first posted on this credit union in September. Since that time the rates have gone down, but they remain competitive. The money market account's top rate is 1.50% APY for balances of at least $100K and 1.40% APY for balances of $2.5K to $50K. CD and IRA CD rates range from 1.30% APY for a 6-month CD to 2.70% APY for a 5-year CD. Minimum deposit is $1K. CD rates are 5 basis points higher for Jumbo CDs with a $50K minimum. One account that I didn't mention in September is the urMoney savings account. It's a youth account, but young adults up to 26.5 years of age are eligible. It has a 6.18% APY for balances up to $1K. Balances over $1K earn a rate of 1.25% which is very competitive even for internet savings accounts. These rates are listed in the credit union's rates page as of 12/27/2010. At the top of the page, there's a date range of 12/16/2010 to 12/31/2010.
As I mentioned in September, F&A FCU doesn't make it easy to join. Membership is primarily based on Select Employer Groups. Some of these include the County of Los Angeles Fire Department, the Office of the Farm Advisory and the Los Angeles County Lifeguards. The SEG also includes employees of several California cities. Please refer to the credit union's membership page for the full details.
The credit union's main branch is located at Monterey Park, California. The credit union is part of the shared-branch cooperative, CU Service Centers. This allows you to make many transactions at shared branches across the nation as if it were your home branch.
F&A FCU is a sizable credit union with $1.12 billion in assets. It's in good financial shape with an overall health score at DepositAccounts.com of 4 out of 5 and a Texas Ratio of 1.58% (excellent) at DepositAccounts.com based on September 2010 data (see our financial overview of F&A Federal Credit Union). The credit union is federally insured by the NCUA (Charter # 1493).
Searching for the Best CD and Money Market Rates
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