Garden Savings Federal Credit Union has recently begun a promotion with three very competitive certificates. These include a 1.00% APY 6-month CD, a 2.02% APY 4-year CD and a 2.53% APY 5-year CD. Minimum deposit is $500. These rates are listed in the credit union’s rates page as of 3/11/2014. They’re also listed in the credit union’s promotion page. According to that page, this is a limited-time offer that’s scheduled to end on 3/31/2014. Thanks to the DA member Sylvia who posted this promotion in the forum.
|Garden Savings Federal Credit Union||1.76%||$500||-||5 Year Share Certificate|
|Garden Savings Federal Credit Union||1.51%||$500||-||4 Year Share Certificate|
|Garden Savings Federal Credit Union||0.40%||$500||-||6 Month Share Certificate|
Update 3/26/2014: The credit union has updated its early withdrawal penalties. According to the small print under the rate table , "On terms of 1 year or greater, early withdrawal penalty is 180 days of dividends earned." A reader mentioned to me that she had CDs with this credit union in the past and at that time its disclosure did include the "if we consent" clause regarding early withdrawals. So be sure to check the credit union’s latest disclosure before opening these CDs. I can’t find it online.
You can qualify for membership into Garden Savings FCU by joining the American Consumer Council (ACC). This is now listed in the credit union's Field of Membership list. In fact, the credit union even lists the ACC website where you can join. Anyone can join ACC.
Membership is also open to those who live, work, worship, or attend school in Newark, Elizabeth, or Jersey City. In addition, you can be eligible to join via Select Employer Groups and via family. Please refer to their membership page for more details. Membership requires a minimum deposit of $5 into the share savings account.
Credit Union Overview
Garden Savings FCU branches are located in Parsippany, Newark, Murray Hill, Montville and Morristown, New Jersey.
The credit union's overall health grade at DepositAccounts.com of an A with a Texas Ratio of 12.29% (above average) based on December 2013 data. Please refer to our financial overview of Garden Savings Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 18710).
Other Top 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.