NuVision Federal Credit Union is listing another special 10% APY 10-month CD. As you might expect, there's a low maximum deposit ($1,000). Also, it's limited to one per household. Minimum deposit is also $1,000. It's a grand opening special which is only available at the credit union's Downtown Los Angeles branch (555 W. Fifth Street). You must print out and present the coupon at the branch. Offer expires 10/07/2011. Here's a copy of the promotion. Thanks to the reader who emailed me this offer.
The $1,000 max hurts this 10% 10-month CD. The total amount of interest that you can earn from this promotion is about $83. As a comparison, 10 months in a 1.00% savings account would earn $8.30.
$50 Checking Account Promotion
NuVision FCU has another the $150 offer. However, unlike last year, only $50 is for a checking account. $100 of the bonus requires funding a loan. Below are the requirements to earn $50 of bonuses:
- $25 bonus for opening the free checking account with a minimum deposit of $100. Direct Deposit of at least $200 must be established and eStatements must be established and maintained.
- $25 bonus for keeping the checking account active for 90 days. This requires 5 debit card transactions per month for 3 consecutive months. Incentive must be redeemed within 180 days of account open date.
Please refer to the credit union's promotion page for the full details.
In a previous post on an old promotion, a reader gave the following comment about this credit union's promotions:
You need to come in TWICE to get the bonus. First to open the account and sign a paper for the promotion. Then, after 3 months, you have to go in again and see a banker so they can review your account and give you the remaining $100. They won't do it over the phone.
The credit union still offers a refer-a-friend program which rewards a member $25 for each referral. This used to be $50.
NuVision FCU Membership
According to the credit union's "Am I Eligible" page:
If you do not qualify based on the above criteria, no problem! You can become a member of the American Consumer Council (Council) as a path to NuVision membership.
We can sign you up for membership in the Council, at no initial cost to you, at the same time you become a NuVision member.
Membership requires a $5 minimum balance in the Primary Savings account.
NuVision Federal branches are located throughout the Los Angeles metro area. There's also a branch in Mesa, Arizona, but it's only accessible to Boeing employees.
The credit union has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 15.22% (average) based on June 2011 data. Please refer to our financial overview of NuVision Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 566).
NuVision FCU News
The news of the merger of NuVision and Kinecta came out last year, and it still hasn't completed. According to this June 2011 press release, the two credit unions have filed an application with the NCUA for the merger. Once the merger receives the approval of the NCUA, members will have to vote on it.
Other Bank and Credit Union Bonuses
We have a new bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.