BluPeak Credit Union Has Nationally Available Rate-Leading 9-Month CD Special

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Deal Summary: 9-Month CD Special, 5.75% APY, $1k minimum deposit.

Availability: Easy membership requirement

California-based BluPeak Credit Union (BluPeak) recently added a 9-month CD Special earning 5.75% APY. This limited-time offer can be opened with a $1k minimum deposit, with no stated balance cap. The 9-month CD Special offers the highest and most competitive APY in the BluPeak CD product line.

APYMINMAXINSTITUTIONPRODUCTDETAILS
5.25%$1k-BluPeak Credit Union9 Month CD Special
Rates as of April 16, 2024.

Early Withdrawal Penalty

As stated on the landing page, the Early Withdrawal Penalty (EWP) reads as follows:

Original term of less than one year: 90 days’ worth of dividends.

CSR stated that only an early closure is possible: partial withdrawals are not allowed. In addition to the 90 days EWP, if a CD Special is closed within 90 days of opening, there is a $15 early account closure fee.

Availability

Headquartered in San Diego, BluPeak Credit Union’s field of membership (FOM) includes a way for virtually all U.S. citizens and resident aliens to join. Although not included in the “Who’s eligible to join BluPeak Credit Union?” section on the Become a Member page, being a member of or willing to join KPBS (the PBS member station in San Diego) qualifies for BluPeak membership.

Those who live, work, or worship in the California counties of Alameda, Sacramento, San Diego, Santa Clara, or Yolo are also eligible for membership.

Employees of the State of California, including all its administrative offices, are eligible to join.

Any employee, retiree, student, or alumnus of the University of California or California State University system the qualify for membership, as do University of San Diego employees, retirees, students, or alumni.

Immediate family and household members of current BluPeak members are welcome to apply.

Account Opening

Joining BluPeak can be done online or at any of six California branches, located in Berkley, Davis, La Jolla, La Mesa, and San Diego (2).

While opening a Member/Regular Share account is not required when joining, there is a $5 new membership fee.

As stated in the Savings FAQs section,

What is the process for opening a Term Certificate?

    It’s easy! If you’re already a member, simply give us a call at 866.873.4968. Not yet a member? You’ll need to join the Credit Union before opening your certificate account. Click here to get the ball rolling, or call us at 866.873.4968. We’re here to help!

While the online membership application does include Term Certificates (CDs), CSR stated that opening a CD over the phone is easier than doing it online.

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – ACH or wire ($10 fee).
  • CO-OP Shared Branch Participate – Yes.
  • Ownership – Individual or joint; no trusts allowed.
  • Dividends – Compounded daily/credited quarterly; can be withdrawn penalty-free.
  • Maturing Funds – Transferred to a BluPeak savings/checking account.
  • Beneficiaries – Up to 3, with equal shares; Social Security numbers are preferred but not required.
  • Grace Period – 10 calendar days before automatic renewal.
  • Credit Check – Soft pull.

Credit Union Overview

BluPeak Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 1.31% (excellent) based on March 31, 2023 data. In the past year, BluPeak CU’s total non-brokered deposits decreased by -$103.59 million, a below average annual growth rate of -8.79%. Please refer to our financial overview of Meritus Credit Union (NCUA Charter # 60801) for more details.

Established in 1936 as the California State Employees Credit Union #17, the original FOM was exclusive to San Diego’s Division of Highway employees. After years of having a cumbersome and completely forgettable name, the credit union rebranded in 1971 as University and State Employees Credit Union. Better known as USE Credit Union, the new name described an expanded FOM, which included several California universities. According to a November 2022 Credit Union Times article,

The $1.2 billion USE Credit Union unveiled its new name, BluPeak Credit Union, to better represent the broad and diverse communities within the five counties it serves, the San Diego-based financial cooperative said Tuesday.

In addition to the new name, BluPeak also introduced a new logo and updated messaging that better embodies the credit union’s Californian roots and gives a special nod to the majestic ocean and mountains that make up the Golden State’s unique landscape.

BluPeak Credit Union is currently the 49th largest credit union headquartered in California, with nearly 57,000 members and assets in excess of $1.4 billion million.

How the 9-Month CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that nationally available and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the BluPeak Credit Union 9-Month CD Special. The following table compares the 9-Month CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 8/24/2023.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: San Francisco Bay CD rates, San Diego CD rates, Sacramento CD rates, 1-year CD rates, nationwide deals

Comments
Rosedala
  |     |   Comment #1
BluePeack's 5.75% 9-Month CD Special with $1K not bad but....9 months go by too fast.  Also 12 months fly by jet, lol!

Connexus offers 5.76% for 12 months with $100K. They charge $20 for a wire going into them! If Ken had it, I must've missed it. I think this is a pretty good one now that interests again are sliding down? :)

Total Direct Bank's 5.65% for 12 months isn't bad either but after reading its super multiple horrible reviews...I'll pass up. Perhaps they offer a nice rate to mitigate their bad reviews?
Rosedala
  |     |   Comment #2
Anyone knows why when I tried to post 3 paragraphs, the top one wouldn't appear? I tried editing it 3 times. This is the missing rebel paragraph: :)

BluePeack's 5.75% 9-Month CD Special with $1K deposit not bad but....9 months go by too fast. True, also 12 months fly by jet. lol!

Thanks.
lotsofplants
  |     |   Comment #3
Effective 12/1/23 the rate has dropped to 5.25 APY
5.00% 7-Month / 5.10% 4-Month CD at a California CU (USE).
Update 2/2/08: The CD rates have fallen. Please check the credit union's website for the latest rates.

USE Credit Union is listing two certificate specials with high yields. The promo page has a date of 1/23/08 (after the massive Fed rate cut), so these specials may still be available. The 7-month special certificate has a yield of 5.00% APY and the 4-month certificate has a yield of 5.10% APY. The minimum deposit is $5,000, and the maximum is $250,000. A $100 minimum deposit in a USE Checking Account is required....

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5.20% 9-Month CD at a California CU (USE).
USE Credit Union is offering a special 5.20% APY 9-month certificate. The minimum deposit is $5,000 of new money. A $100 minimum deposit in a USE Checking Account is required. They do offer free checking with free checks.

Membership is open to to all who live, work, or worship in Alameda, Sacramento, San Diego, Santa Clara, or Yolo County. Also eligible to join are employees, students or alumni of the University of California and California University System. Employees and members of several organizations are also eligible. One organization with easy membership...

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7.00% 7-Month CD at a California CU - $2.5K Max (USE)
USE Credit Union is having a 70th anniversary promotion with a special a 7.00% APY 7-month certificate of deposit. It requires an exact deposit of $2,500. The money must be new to the credit union. A $100 minimum deposit in a USE Checking Account and a separate $5.00 Ownership Share Account (money held on deposit) are also required. Due to the low maximum, it's not a great deal. The credit union also has a 5.75% APY 18-month CD. I had reported on both of these deals in June. At that...
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6.00% 18-Month CD at a California CU
USE Credit Union is offering a 6.00% APY 18-month certificate of deposit. The minimum deposit is $5K. Additional deposits of $1K or greater are allowed before maturity. The credit union also has a 7% APY 7-month CD with a $2.5K maximum deposit limit. The money must be new to the credit union.

The field of membership includes all those who live, work or worship in any of the California counties of Alameda, Sacramento, San Diego, Santa Clara and Yolo. In addition there's a long list of eligible employers and organizations. Members...

Continue Reading


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