3.15% 13-Month Add-On CD at AltaOne FCU in California


AltaOne Federal Credit Union is offering a special 13-month 3.15% APY certificate. Minimum deposit is $1,000. The special allows you to pick either the Bump option or the Add on option. The special is listed on the credit union's front page and in this promotion page as of 2/11/09. The small print states that the offer is effective through February 28, 2009, but rates are subject to change without notice.

The credit union is calling this their Presidents' Day Special. You're allowed to pick one of the two features: 1) the Washington Bump option or the 2) Lincoln Unlimited Add On option. The Bump option gives you the option to increase the rate two times to the rate currently in effect for a 12 month certificate. The Add On option allows you to make unlimited deposits of at least $500 during the term. In my opinion, the Add On option is more valuable especially if you have CDs about to mature in the next couple of months. Add-On CDs can be very useful when interest rates are falling.

Membership is open to all those who live, work, worship, volunteer, have a business or attend school in Mono, Inyo or Kern Counties and selected communities in Northern San Bernardino county. Please refer to the credit union's Join Us Page for more details. Membership requires a $25 minimum balance in the savings account.

Branches are located in several California cities including Bakersfield, Bishop, Kernville and Ridgecrest.

The credit union has mixed ratings for safety and soundness: 4 stars (excellent) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 9/30/08 financial data. The credit union is federally insured by the NCUA (Charter # 5612).
AltaOne Credit Union's CD Matching Program
AltaOne Federal Credit Union has a special CD matching program called the Match Rate Plus. They'll top the rate of a current CD that you have by 0.25. In addition, they'll reimburse you for the early withdrawal penalty. The AltaOne term share certificate must be the same term and at least the same balance as your current share certificate or certificate of deposit as shown on a current statement from another financial institution. A receipt or statement showing penalty is required.

I don't see any exclusions about internet banks or credit...

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