E-Central Credit Union continues to offer some competitive long-term CD and IRA CD rates. These include a 2.62% APY 5-year CD, a 2.27% APY 4-year CD and a 1.97% APY 3-year CD. Minimum deposit for these rates is $10,000. Slightly higher rates are available for a $50K and $100K minimum deposit. These rates are listed in the credit union's rates page as of 2/3/2011.
According to the credit union's disclosure, the early withdrawal penalty for terms over 1 year is "180 days dividends on the amount withdrawn whether or not earned."
As compared to internet banks on 2/3/2011, the best 5-year CD rate is 2.75% APY at Salem Five Bank. As compared to credit unions with easy membership, the best 5-year CD rate is 2.93% APY at Melrose Credit Union.
According to the credit union's eligibility page, one of the criteria to be eligible to join the credit union is if you "belong to another credit union". You can also qualify if you live, work, worship, or attend school in one of many California cities. Please refer to the eligibility page for the full details. Membership requires a $5 fee and a $25 minimum balance in your savings account.
Branches are located in Pasadena and Los Angeles, California.
The credit union has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 34.15% (above average) based on September 2010 data. Please refer to our financial overview of E-Central Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 62323).
Searching for the Best CD Rates
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