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12-Month CD At 5 % APY

Sunday, March 25, 2012 - 3:25 PMPatelco Credit Union - Details
Patelco Credit Union is offering a 12 month CD at 5.00 APY. The minimum and maximum is $ 1000.00. Anyone has any additional insight on this credit union?
gateway22gateway222 posts since
Mar 11, 2012
Rep Points: 4
1. Sunday, March 25, 2012 - 5:32 PM
I belong to the credit union, but haven't really used it for many years. They use to have great rates, but a few years ago they made a decision not to compete for deposits and their rates have been very unattractive since. If they would increase the one thousand minimum, I would think about buying some of these CD's.
loulou552 posts since
Aug 3, 2010
Rep Points: 3,431
2. Monday, March 26, 2012 - 10:15 AM
available only to NEW members.
Anon456Anon45630 posts since
Oct 30, 2011
Rep Points: 78
3. Monday, March 26, 2012 - 10:29 AM
Its for only $1,000 -- not worth the bother other than as an addditional account if you take another account with them. Taking advantage of that account when you join them effectively reimburses your membership fee. 

They did not used to be insured by the NCUA, had private insurance only -- and at that time had very good rates. But when they decided to switch to NCUA coverage, they shortly thereafter dropped their rates way low and they have been too low ever since.
me1004me1004373 posts since
Jan 16, 2010
Rep Points: 2,600
4. Monday, March 26, 2012 - 11:33 AM
I guess they decided to save at most $20 per new member.  It used to be 7% APY with a max of $1000.
glxpassglxpass38 posts since
May 2, 2010
Rep Points: 240