Security Service Federal Credit Union did something rare these days. It raised the 3-year CD and IRA CD rates. The top rate increased from 2.20% to 2.50% APY which makes the yield very competitive for a 3-year term. This requires a $100K minimum deposit. The following is a summary of all the 3-year CD rates as listed in the credit union's rate sheet as of 5/9/2011:
- 2.50% APY min $100K
- 2.45% APY min $50K
- 2.40% APY min $25K
- 2.35% APY min $500
The other CD rates haven't changed since my April SSFCU CD review. They continue to be very competitive. The best rates as of 5/9/2011 include:
- 3.50% APY 7-year CD, $100K min
- 3.00% APY 5-year CD, $100K min
- 1.50% APY 18-month CD, $100K min
For more details about these CDs including information on early withdrawal penalties, please refer to my January SSFCU post.
SSFCU membership is pretty much limited to parts of Texas and Colorado.
Credit union membership is open to those who live, work or worship in Central Texas counties of Atascosa, Medina, Uvalde or South Bexar in addition to other areas. In South Texas the eligible counties include Aransas, Cameron, Hidalgo, Nueces and San Patricio. In Colorado the eligible counties include El Paso, Pueblo and Denver.
There are several groups which can also qualify you for membership including the UT at San Antonio Alumni Association and the FiftyPlus Club.
Please refer to the credit union's membership page for the full details. Membership requires a $5 minimum deposit into a share savings account.
You can view all of the Texas, Colorado and Utah branches in our map of Security Service Federal Credit Union branches. Some of the major cities include San Antonio, El Paso and Brownsville, Texas; Denver and Colorado Springs, Colorado.
Credit Union Overview
The credit union has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 15.13% (average) based on December 2010 data. Please refer to our financial overview of Security Service Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 11065).
Best 3-Year CD Rates
As of 5/9/2011, the best 3-year CD rate nationally available is 2.27% APY at Velocity Credit Union. This is about the same as Ally Bank's 5-year CD rate if closed early after 3 years (see post). The best bank 3-year CD rate nationally available is 2.15% APY at Tennessee Commerce Bank.
To search for the best nationwide rates and the best rates in your state, please refer to the following tables at DepositAccounts.com: