Randolph-Brooks Credit Union continues to offer several competitive long-term CD and IRA CD rates. Rates have gone down a bit since my October post, but the long-term CD rates are still higher than what PenFed is offering for large deposits. The best rates require a minimum deposit of $75K. The rates are 0.05% less for a $20K minimum, and 0.10% less for a $5K minimum. Below are some of the best deals as listed in the credit union's rates page as of 12/12/2010:
- 3.45% APY 7-year CD, $75K min, 420-day EWP
- 3.14% APY 6-year CD, $75K min, 360-day EWP
- 2.89% APY 5-year CD, $75K min, 300-day EWP
- 2.32% APY 4-year CD, $75K min, 240-day EWP
- 2.12% APY 3-year CD, $75K min, 180-day EWP
Note, EWP stands for early withdrawal penalty, and these penalties are stated below the rate table. I included them with the rates since they vary by term, and they're above average for the longer terms. For CD terms over 5 years, it's common to have EWPs of 1-year or more in interest. For example, both Pentagon Federal Credit Union and Navy FCU have a 1-year EWP for their 7-year CDs. Most 5-year CDs only have a 6-month penalty. So that's an important consideration if you're looking to increase your yield.
Membership is open to those who live, work or worship in certain parts of Austin, San Antonio, San Marcos, Seguin and other parts of Central Texas. Please refer to the credit union's membership page for the full details.
The credit union's overall health score is 4 out of 5 at DepositAccounts.com with a Texas Ratio of 2.59% (excellent) based on September 2010 data. Please refer to our financial overview of Randolph-Brooks Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 8111). It's a large credit union with $4.08 billion in assets.
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.