University of Iowa Community Credit Union has changed its CD specials. One of the CD specials have changed to a shorter term and a higher rate. However, two of the longer-term specials had rate cuts. Even with these rate cuts, these special CD rates remain very competitive. The following are the 3 special CD rates for a $1,000 minimum deposit as listed at the credit union's rates page as of 8/16/2012:
- 2.00% APY 33-month CD special
- 1.50% APY 22-month CD special
- 1.25% APY 10-month CD special
You can get an additional 20 basis points on these rates for a $250K minimum deposit or an additional 10 basis points for a $100K minimum. This also applies to the credit union's standard CD rates. The best standard CD rates for a $1,000 minimum deposit include:
- 2.15% APY 49-60 month CD
- 2.00% APY 37-48 month CD
- 1.15% APY 13-24 month CD
The above rates also apply to IRA certificates.
The early withdrawal penalty is 180 days of interest for CD terms of 12 months and up. This is according to my conversation with a CSR earlier this year. I have not been able to find EWP details in the credit union online documentation.
Reward Checking Account Remains a Good Deal
The credit union continues to offer a very competitive reward checking account. It pays 3.00% APY on balances up to $25K if certain monthly requirements are met (as of 8/16/2012). The last rate cut was in late June when the top rate fell from 3.25% to 3.00% APY. I first reviewed this account in January 2008 when it paid 6.00% on balances up to $50K.
In addition to University of Iowa alumni, membership is open to those who live or work in any of more than a dozen counties in Eastern Iowa. Please refer to the credit union's About Us page for more details.
Credit Union Overview
UICCU branches are located in Cedar Rapids, Iowa City, Coralville, North Liberty, Grinnell, Vinton and Hiawatha.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 5.85% (excellent) based on March 2012 data. Please refer to our financial overview of University of Iowa Community Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 60269).
Searching for the Best CD and IRA CD Rates
To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com: