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. They do offer free checking with free checks.
The 7-month special CD has an option rate feature that allows you the one-time option in the first 6 months to lock in a higher rate. I very much doubt this will be useful with rates heading way down.
I last reported on this credit union in December when they were offering a 5.20% 9-month CD special.
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 is KPBS, Public Broadcasting Station, San Diego, CA. Please see the credit union's Membership page for more details. Membership requires a minimum $5 deposit in the Ownership Share savings account.
Branches are located in San Diego, Chula Vista, La Mesa, La Jolla, Berkeley, Davis, Sacramento and San Jose. The credit union is federally insured by the NCUA (Charter # 60801). It has $859.9 million in assets and 75,306 members.