First Peoples Community Federal Credit Union continues to offer very competitive CD, savings and money market rates. The long-term CD special rates have gone down since my October post, but they remain a good deal: 2.40% APY for 39 months and 2.80% APY for 5 years. Minimum deposit is $5,000. These rates are listed in the credit union's promo page as of 4/13/2011.
Short-Term CD Rates
The credit union also has several competitive rates on its standard CD rates, especially on the shorter terms. The best ones include a 1.70% APY 18-month CD, a 1.60% APY 12-month CD and a 1.35% APY 6-month CD. These rates are listed in the credit union's savings rates page as of 4/13/2011.
Money Market and Savings Account Rates
In addition to the CDs, the credit union has some competitive rates on its money market and savings account, especially for large balances. The top rate for the MMA is 1.55% APY on balances of at least $100K. An even higher rate is available in the Thrift Savings Account which has a top rate of 1.80% APY for a $75K minimum and a 1.55% APY for a $25K minimum. The main catch with this Thrift Savings Account is that it only allows one free withdrawal per quarter. Additional withdrawals have a $10 fee. These rates are listed in the credit union's savings rates page as of 4/13/2011.
The credit union also has a reward checking account, but this rate isn't as competitive. It's called the eFirst checking and it currently pays 2.00% APY on balances up to $25K.
Unfortunately, the credit union's field of membership is fairly narrow. Membership is open to any persons who live or work in Allegany County, Maryland, Garrett County, Maryland, Somerset County, Pennsylvania or Mineral County, West Virginia. Please refer to the credit union's About Us page for more details.
The credit union's overall health score at DepositAccounts.com is 4 stars (out of 5) with a Texas Ratio of 14.12% (above average) based on June 2010 data. Please refer to our financial overview of First Peoples Community Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 13345).
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.