Update 7/1/2011: These special CD rates are no longer listed on the credit union's website.
South Florida FCU did something we don't much of these days. It raised rates on its three special CDs and IRA CDs. These new special CDs are a 1-year CD with a 1.76% APY, an 18-month CD with a 1.87% APY and a 2-year CD with a 1.97% APY. Previously, all of these special CDs had a 1.50% APY. Minimum deposit is $500. This is a limited time offer and is available only to new deposits. These special CD rates are listed in the credit union's front page in the rotating banner as of 6/28/2011.
Unfortunately, the credit doesn't make it easy to qualify. Membership is primarily based on Select Employee Groups. Several churches and schools are also included. Please refer to the credit union's Who Can Join page for more details.
The credit union is located in Miami, Florida.
South Florida FCU continues to be financially strong. Its overall health score at DepositAccounts.com is 4 stars (out of 5) with a Texas Ratio of 13.06% (above average) based on March 2011 data. Please refer to our financial overview of South Florida FCU for more details. The credit union is federally insured by the NCUA (Charter # 23041).
How Do These CD Rates Compare?
These new special CD rates compare very favorably to the best CD rates available nationwide. You can get 1.75% APY on a 1-year CD at Connexus Credit Union (as of 6/18/2011). However, this requires an active checking account. Without this requirement, the best rate falls to 1.31% APY at Melrose Credit Union and Self-Help Credit Union. The best nationally available 18-month CD rate is 1.55% APY at Alliant Credit Union, and the best 2-year CD rate is 1.77% APY at Self-Help Credit Union (as of 6/18/2011).
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.