City County Credit Union increased its CD and IRA CD rates earlier this month. Some of the new rates are now quite competitive. One is the 5-year CD which now has a 2.01% APY for a minimum deposit of $500. Also competitive is the 1-year CD which has a 1.10% APY for a minimum deposit of $50,000 (1.00% APY for a $500 minimum). Members can receive rates 25 basis points higher if they qualify for premium membership. These rates are listed in the credit union's rates page as of 3/27/2012.
The credit union is still offering a very good IRA deal. It's a 1.51% APY 1-year IRA CD with a minimum deposit of $10,000. I reviewed this IRA CD in February.
According to the credit union's eligibility page, membership is open to anyone who lives or works in one of many Florida counties:
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. Refer to the credit union's types of membership page to see what's required to avoid monthly fees.
The credit union has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 18.73% (average) based on December 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).
How This CD Rate Compares
The best nationally available 5-year CD rate is 2.35% APY at Justice Federal Credit Union for a $100K minimum (2.25% APY for a $500 minimum). If you have a military connection, you may be able to qualify for Air Academy Federal Credit Union which has a 2.45% APY 5-year CD for a $10K minimum deposit.
These rates are accurate as of 3/27/2012.
Searching for Top CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.