5.00% 7-Month / 5.10% 4-Month CD at a California CU (USE).

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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. 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.
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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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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...

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