As I mentioned last week, it's common for banks to offer IRA deals this time of year. You have until April 17th to make an IRA contribution for 2011. In this interest rate environment, I haven't seen as many of these deals this year. I found one good deal today that's available to most of Florida. It's at City County Credit Union, the it's offering a 1-year IRA CD with 1.51% APY. It's called a Jumbo IRA certificate, but the minimum deposit is only $10,000. The other CD rates are not nearly as competitive. The only one worth noting is the 5-year IRA CD which has a 1.86% APY (1.76% non-IRA). These rates are listed at the certificates rates page as of 2/23/2012.
When I reviewed the credit union's eligibility page, I was surprised to find all of the Florida counties listed. Anyone who lives or works in one of the following counties is eligible:
Broward, Palm Beach, Miami-Dade, Brevard, Charlotte, Collier, DeSoto, Glades, Hardee, Hendry, Highlands, Indian River, Lake, Lee, Manatee, Marion, Martin, Monroe, Okeechobee, Orange, Osceola, Polk, Sarasota, Seminole, St. Lucie or Volusia County
Unfortunately, City County Credit Union branches are only located in Broward County. However, I was told by a credit union member service representative, that you can join on their website. A link to the online application is in their eligibility page. A minimum $5 balance in the savings account is required for membership. Once you join, you can open the IRA by mail. Refer to the credit union's contact page to get in touch with the credit union.
The credit union has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 18.16% (average) based on September 2011 data. Please refer to our financial overview of City County Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 61525).