Dade County Federal Credit Union did something that's rare these days. It raised its CD rates. Its 5-year share certificate yield increased from 1.90% to 2.00% APY which is quite competitive especially for the Miami area. Minimum deposit is $500. This rate is listed in the credit union rates page as of 6/6/2012. I wasn't able to find an account disclosure or any mention of the early withdrawal penalty on the credit union's website. If you learn of the EWP, please leave a comment.
The credit union has been offering a reward checking account since 2008. The yield is still competitive at 2.00%, but the balance cap has fallen considerably. The 2% now only applies to a balance of $5,000. The credit union has details of this account in this promotions page.
Credit union membership is open to persons (and their family members) who either live, work, worship, attend school, operate businesses or other legal entities located in Miami-Dade County. Please refer to the credit union's Who Can Join page for more details.
Credit Union Overview
Dade County Federal Credit Union branches are located throughout Dade County from Homestead in the south to Miami Gardens in the north.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 5.12% (excellent) based on March 2012 data. Please refer to our financial overview of Dade County Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 24508).
How This CD Rate Compares
Those in parts of Dade County Florida can get a slightly higher 5-year CD APY (2.02%) at Miami Postal Service Credit Union which has three branches in Dade County.
For 5-year CDs that are nationally available, you have to look to credit unions if you want yields over 2%. The highest 5-year CD rate is 2.20% APY at Justice Federal Credit Union. This requires a $100K minimum deposit. For a small deposit, the highest rate is 2.17% APY at Melrose Credit Union ($5K minimum deposit).
These rates are accurate as of 6/6/2012.
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.