IRA specials are common this time of year as banks and credit unions try to attract new customers. This time of year before April 15th, you can make IRA contributions for both the current year and the previous year. I came across another credit union with a good IRA CD special. It's South Florida Federal Credit Union, and it's offering 2.01% APY on a 2-year IRA CD. Minimum initial deposit is $200, and the maximum is $100,000 per member. New deposits are required. This special is listed on the credit union's front page in a rotating banner as of 2/1/2013.
The credit union also has a good deal on a 1-year CD with a 1.05% APY. This is available for both regular and IRA CDs. Minimum deposit is $200. The credit union continues to offer a good deal on its Jumbo Money Market Account with a 1.10% rate. This requires a $100,000 minimum deposit to open, and it requires a $100,000 minimum average daily balance to avoid service fees. These rates are listed at the credit union's rates page as of 2/1/2013.
Unfortunately, the credit doesn't make it easy to qualify. Membership is primarily based on Select Employee Groups. Several churches and schools are also included. Please refer to the credit union's Who Can Join page for more details.
South Florida FCU is located in Miami, Florida.
South Florida FCU has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 13.30% (above average) based on September 2012 data. Please refer to our financial overview of South Florida FCU for more details. The credit union is federally insured by the NCUA (Charter # 23041).
Searching for the Best IRA CD Rates
To search for the best nationwide IRA CD rates and the best IRA CD rates in your state, please refer to the IRA rates section of DepositAccounts.com.