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Competitive Long-Term CD and IRA CD Rates at Bay FCU in CA - Local Only

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APYMINMAXINSTITUTIONPRODUCTDETAILS
3.90*%$10k-Bay Federal Credit Union4 Year CD
OTHER TIERS: 3.80% → $1k - $10k
3.90*%$10k-Bay Federal Credit Union5 Year CD
OTHER TIERS: 3.80% → $1k - $10k
3.90*%$10k-Bay Federal Credit Union4 Year IRA (Traditional, Roth, CESA, SEP)
OTHER TIERS: 3.80% → $1k - $10k
3.90*%$10k-Bay Federal Credit Union5 Year IRA (Traditional, Roth, CESA, SEP)
OTHER TIERS: 3.80% → $1k - $10k
Rates as of December 9, 2024.

Bay Federal Credit Union is offering competitive rates on two of its long-term CDs and IRA CDs: 3.05% APY for 5 years and 2.53% APY for 4 years. Minimum deposit is $10,000. The rates are 5 basis points less for a $1,000 minimum. These yields are listed in the credit union's rates page as of 8/17/2010.

When I last posted on this credit union in 2008, I mentioned that these CDs have a bump-up option. I wasn't able to find this mentioned on the current website except for the Truth-in-Savings Disclosure which still mentions this feature:

The Certificate Bump Up Option refers to the Credit Union's offer to adjust the interest rate on any 3, 4, or 5 year IRA Certificate or Regular Certificate of $1,000 or more, one time only during the original term of the certificate.

Also mentioned in the disclosure is the early withdrawal penalties. According to the disclosure, it's 180 days of interest for terms of 1 year and over. I appreciate it when institutions include their truth-in-savings disclosure online. I just hope it's up-to-date.

Membership is open to anyone who lives, works, volunteers, worships or attends school in Santa Cruz, San Benito, or Monterey County. Please refer to their Membership Page for more details. Membership requires a one-time $5 fee.

Branches are located in Aptos, Ben Lomond, Capitola, Salinas, Santa Cruz, Scotts Valley and Watsonville

The credit union has an overall health score of 4 out of 5 at DepositAccounts.com based on March 2010 data (see our financial overview of Bay Federal Credit Union. It's federally insured by the NCUA (Charter # 12067).

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Related Pages: CD rates, IRA rates



EXPIRED: 5.02% 60-Month CD at a California CU (Bay Federal)
Comments
POSTED ON MONDAY, JUNE 23, 2008 BY KEN TUMIN

Bay Federal Credit Union is offering a 5.02% APY 5-year CD. The minimum deposit is $10,000. A yield of 4.92% APY is available for a $1,000 minimum. The 3 and 4 year CDs are also fairly competitive with a yield of 4.08% APY and 4.34% APY for a $10,000 minimum (see rate table). These CDs have a bump option which allows a one-time option to bump up the rate of the CD to the current rate. These rates are also available as an IRA CD. According to the Truth-in-Savings disclosure,...

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5.76% 60-Month / 5.50% 12-Month CD at a California CU (Bay Federal)
Comments
POSTED ON TUESDAY, AUGUST 7, 2007 BY KEN TUMIN
Bay Federal Credit Union still has some high rate certificates although the rates have gone down since my last report in June. The highest yield is 5.76% APY for a 60-month term. Terms from one to four years also have comptitive rates ranging from 5.50% APY for a 12-month term to 5.71% APY for a 48-month term. The minimum deposit is $10,000. Rates of 0.10% less are available with a $1K minimum. The 3 to 5 year CDs have a special bump-up feature that allows a one-time option to...
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6.02% 60-Month / 5.76% 12-Month CD at a California CU (Bay Federal)
Comments
POSTED ON SATURDAY, JUNE 23, 2007 BY KEN TUMIN
Bay Federal Credit Union has high yields on many of its certificate terms. The yields range from 5.76% APY for the 12, 18 and 24 month terms to 6.02% APY for the 5 year term (see rate sheet). The minimum deposit is $10,000. Rates of 0.10% less are available with a $1K minimum. The 3 to 5 year CD's have a special bump-up feature that allows a one-time option to bump up the rate to a newer higher rate. The certificates are also available in an IRA.

Field of membership includes...

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