Anytime I see a rate hike these days, I'm a little skeptical. That's especially the case when the rates top 2 percent. So when I saw the rate hikes at City County Credit Union, I called the credit union. According to the CSR, the new rates are correct. These include a 2.02% APY 5-year CD. Minimum deposit is $500. Other competitive rates include a 1.20% APY 30-month CD and a 1.00% APY 1-year Jumbo CD with a $50K minimum deposit. 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 2/26/2013.
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. For the other terms, the IRA CDs have rates 5 basis points higher than the regular CDs.
The CD early withdrawal penalty is 90 days of interest for terms of 12 months or less and 180 days of interest for terms over 12 months. Please refer to the truth-in-savings account disclosure for more details.
Update 3/1/13: DA member Pearlbrown provided some additional details of this credit union and CDs in this forum thread.
This is one of the few Florida credit unions which has a field of membership that covers a large part of Florida. 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 18.97% (average) based on September 2012 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 These CD Rates Compare
The best nationally available 1-year CD and IRA CD rate is 1.25% APY at PenFed.
These rates are accurate as of 2/26/2013.
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.