3.56% 12-Month CD at Gateway Regional Credit Union in St. Louis


Update 4/04/09: The CD rates have fallen. Please check the credit union's website for the latest rates.

Gateway Regional Credit Union is listing very competitive rates for its regular and IRA certificates. The best rates are for terms of 12 to 60 months. The rates include 3.56% APY for 12 months, 3.81% APY for 24 months, 3.98% APY for 36 months and 4.60% APY for 60 months. Minimum deposit is $1,000. These rates are listed in the credit union's rate table as of 3/19/09. The effective date listed on top of the table is 3/11/09.

Membership is open to anyone who lives or works in certain areas of St. Louis, Missouri. Also eligible is anyone living or working in the 8th Federal Reserve District who is not served by another credit union. This includes many counties in the states of Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. For more details regarding eligibility, refer to the credit union's Who Can Join Page. All of the counties for the above states are listed in credit union's 8th Federal Reserve District Eligibility Page. Membership requires a $25 balance in the share savings account.

Update 3/20/09: A reader noted another large group eligible for membership: "Employees and retirees of the federal government." The reader also confirmed that you can join the credit union and open accounts by mail.

The credit union has strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial (based on 12/31/08 data) and 4 stars (sound) at Bankrate.com (based on 9/30/08 data). The credit union is federally insured by the NCUA (Charter # 62711).

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.
Related Pages: CD rates, IRA rates

Anonymous   |     |   Comment #1
There are no links to open an account online. Do we need to call to open an account? Is this available nationally, or is a branch visit required? Does anyone know if there will be a hard credit pull? Thank you!
Anonymous   |     |   Comment #2
I quote "Membership is open to anyone who lives or works in certain areas of St. Louis, Missouri."

So it is not available nationally. Presumably it requires a local branch visit.
Anonymous   |     |   Comment #3
It IS available nationally. I just called them to verify this. I qualify as a federal worker, but I do not live anywhere close to their area. They said that I will have to open it up by mail, which the are sending me the paperwork.
Banking Guy
Banking Guy   |     |   Comment #4
Thanks for reporting on this. I've updated the post with this info.
djc314   |     |   Comment #5
I went to open account today. Location is not in great area of St Louis. If it was not guaranteed by NCAU I would be a bit concerned. Nice people though. To open account they are pretty firm that you have have your goverment issued ss id card
Anonymous   |     |   Comment #6
this deal seems dead, rates dropped