1.45% 8-Month CD At USA One Credit Union In IL (ASI-Only)

USA One Credit Union in Matteson Illinois is offering an 8 month New money Step-Up Guaranteed Rate CD with a minimum deposit of $10,000.  The certificate of deposit pays a rate of 0.90% for the first four months and then the rate is guaranteed to go up to 2.00% for the last four months for a combined APY of 1.45%.

I'm not sure of the benefit of a step-up feature like this that has under a 1-year term.

Membership is available to residents of certain parts of Illinois including parts of Chicago. Refer to the credit union's field of membership page.

Note, the credit union is not federally insured. Instead its deposits are insured via the private deposit insurer, ASI. I have more about ASI in this post.