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 and a 2.22% APY 3-year CD. Lower rates are available for a $20,000 minimum and a $1,000 minimum deposit. For a $1K minimum the rates are still very competitive with a 3.04% APY for 5 years and 2.02% APY for 3 years. These rates are listed at the credit union's CD rates page as of 1/3/2011.
As a comparison to internet banks on 1/3/2011, the best 5-year CD rate is 2.75% APY at Salem Five Direct and the best 3-year CD rate is 2.00% APY at One West Bank. For credit unions with easy membership, the best 5-year CD rate is 2.93% APY at Melrose Credit Union and the best 3-year CD rate is 2.25% APY at Fort Knox FCU.
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 14.54% (excellent) based on September 2010 data. 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).
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