ING Direct isn't the only financial institution offering Black Friday specials. There's also Service Credit Union which is having a Black Friday special with some deposit deals. On the first look at its promotions webpage, some may think the CD with a 10% APY is the best deal. However, the maximum deposit is only $1,000, and the term is only 3 months. So the most you can make from this CD is only $25.
A better deal is the credit union's checking account promotion in which you can earn $150. Here's the small print of this offer:
Must open a ServicePlus Checking account with direct deposit to qualify for $150 offer. Direct deposit must be verified before $150 is deposited in the checking account. Cannot be combined with any other checking offers. 1099 reporting may be required. Direct deposit must be maintained.
Offers are only valid at one of the credit union branches on November 25, 2011. If you participate in this checking promotion, you may as well also open the CD which will make for a total bonus of $175.
Checking Account Details
It's important to note that the ServicePlus Checking account requires a $1,500 minimum balance or direct deposit to avoid a $9 monthly fee. If you do maintain a $1,500 minimum balance, direct deposit and e-statements, Service Credit Union refunds any ATM fees, surcharge fees from other financial institutions, plus Visa International Service Assessment (ISA) fees on your Service Credit Union credit and debit card. Rebates are unlimited and automatic.
Competitive CD and IRA CD Rates
The credit union also has some decent rates on its long-term share and IRA certificates. These include a 2.50% APY 5-year CD, a 2.05% APY 4-year CD and a 1.80% APY 3-year CD. These rates are listed in the credit union's rates page as of 11/22/2011.
Credit Union Membership
Service Credit Union membership is available to anyone living or working in New Hampshire (except Coos County which is way north in NH) and in the Falmouth MA area, as well as anyone related to an existing member (by family), or anyone who has served in the US Military. Please refer to the credit union's membership eligibility page for the full details. Membership requires a $5 minimum balance in the share savings account.
Service Credit Union branches are located in the New Hampshire cities of Bedford, Epping, Keene, Lebanon, Manchester, Newington, Portsmouth, Rochester, Salem and Somersworth and in Falmouth, Massachusetts. There are also branches in Germany to service military members.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 1.25% (excellent) based on June 2011 data. Please refer to our financial overview of Service Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68375). It's a large credit union with $1.88 billion in assets and $1.45 billion in deposits.
Other Credit Union and Bank 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.