It’s hard to beat PenFed’s CD deal, but Spokane Teachers Credit Union (STCU) has come out with a CD that’s even better. The rate is the same, but the term is a little shorter. STCU’s CD is called the President's Premium 30-month Certificate, and it has a 2.02% APY. Minimum deposit is $25,000. The early withdrawal penalty is 180 days' dividends. This rate and additional CD details are listed in STCU’s rates page as of 11/19/2013.
|Spokane Teachers Credit Union||1.26%||$25k||-||30 Month President's Premium Certificate|
STCU also offers a savings account that has a 5.09% APY. As you might expect there’s a very low balance cap. The 5.09% APY applies only to balances up to $500. Over $500, the APY falls to 0.15%. It’s called the First5 Savings Account, and only one account is allowed per person. I don’t see any requirements to qualify for this 5.09% APY, so it’s easy money if you choose to become a member. If you keep a balance of $500, you’ll earn about $25 each year.
Credit union membership is open to anyone who lives, works, worships, or goes to school in the state of Washington or in North Idaho (Benewah, Bonner, Boundary, Kootenai, Latah, or Shoshone counties).
Eligibility details and an online membership application are available at this STCU page.
STCU branches are located in several cities of Eastern Washington and in Western Idaho. The credit union is also part the CU Service Centers which allows members to perform many basic transactions at shared branches throughout the nation.
It's a large credit union with $1.8 billion in assets. The credit union has an overall health grade at DepositAccounts.com of an A+ with a Texas Ratio of 3.04% (excellent) based on June 2013 data. Please refer to our financial overview of Spokane Teachers Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68203).
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