CD Specials & a Unique Reward Checking Account at McGraw-Hill FCU in NJ & NY - Limited Membership

McGraw-Hill Federal Credit Union is offering two CD specials with especially competitive rates. It also has a unique reward checking account. The two special CD rates include a 1.50% APY for 13 months and 3.00% APY for 5 years. Minimum deposit is $10,000. These rates are listed in the credit union's deposit rates page as of 3/3/2011.

Their reward checking account is called Platinum Checking. The rate is only competitive for balances of $100K to $500K. For those balances the rate is 1.51% as of 3/3/2011. You can see all the lower rates near the bottom of the credit union rates page. The monthly requirements include:

• 8 electronic services per month (Bill Payments and/or signature-based purchases/transactions. PIN transactions are not included)
• Direct deposit of salary, pension, Social Security, or other regular monthly credit of $500 or more
• Online Statements

Membership

Unfortunately, it doesn't look like there's an easy way to qualify for membership. Here is all that I could find on the credit union's website regarding membership eligibility:

First chartered in 1935, McGraw-Hill Federal Credit Union originally served employees of the McGraw-Hill Companies in New York City. Since then, the credit union has opened up membership to outside companies and now has over 100 businesses and organizations in its field of membership.

Branches are located in East Windsor, New Jersey and in New York, New York.

The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 1.42% (excellent) based on December 2010. Please refer to our financial overview of McGraw-Hill Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 861).

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