This time of year it's common for credit unions to offer deals on their IRA CDs. This year you have until April 18th to make an IRA contribution for 2010. The latest credit union to offer an IRA CD special is United Heritage Credit Union which is advertising the following special rates for three IRA CD terms:
- 2.85% APY for 5 years
- 2.00% APY for 3 years
- 1.50% APY for 2 years
Minimum deposit is $1,000, and there are no maximum deposit (for transfers or rollovers). These special rates don't seem to be listed at the credit union's website. A reader forwarded me the email she received from United Heritage on 2/2/2011. I confirmed with the credit union yesterday that this promotion is available to both new and existing members. The early withdrawal penalty is up to 180 days of dividends for terms of one year or more.
United Heritage has long offered a reward checking account. It was launched in 2007 with a 6.01% APY. The rate has fallen, and it stayed at 3.01% for quite a long time until last December when it fell to 1.95% APY. For members who opened the account before February 2009, the balance cap is $25K. As I described in this June post United Heritage relaunched this account last summer with a balance cap of only $10K.
Membership is open to those who live, work or attend school in Travis, Williamson, Bastrop, Caldwell, Hays, Smith or Wood County, Texas. You can also be eligible via family or select employer groups. Refer to the credit union's Eligibility Page for more details. Membership requires a minimum balance of $1 into the savings account.
Branches are located in Austin, Cedar Park, Georgetown and Round Rock in Central Texas and in Tyler in Northeast Texas.
The credit union has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 18.67% (excellent) based on September 2010 data. Please refer to our financial overview of United Heritage Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68251).
Searching for the Best CD and IRA CD Rates
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