Diamond Credit Union (PA) Has 3 Competitive Rate Limited Time CDs
Availability:Residents of Pennsylvania’s Berks County, parts of Montgomery and Chester Counties, and the Borough of Pottstown.
Diamond Credit Union (PA) recently added a trio of limited time Share Certificates (CDs): 17-month CD (1.10% APY), 29-month CD (1.50% APY), and 54-month CD (2.30% APY). The minimum opening deposit for all three CDs is $10K and there is no maximum balance cap.
According to CSR, the Early Withdrawal Penalties are as follows:
17-month CD, 90 days of interest
29-month and 54-month CDs, 180 days of interest
While these are limited time offers, there is no indication on Diamond Credit Union’s website when this promotion is scheduled to expire, and CSR stated the same.
Diamond Credit Union membership is open to anyone who lives, works, regularly conducts business, or attends school in Berks County, Pottstown and portions of Montgomery and Chester Counties. Eligibility can determined by entering your Zip Code on the first screen of the online application.
Joining Diamond Credit Union and/or opening a CD can be done online, or at any of five branches located in Birdsboro, Gilbertsville, Pottstown, Reading, and Wyomissing.
Credit Union Overview
Diamond Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 4.12% (excellent) based on September 30, 2014 data. In the past year, Diamond Credit Union has increased its total deposits by $30.55 Million, an excellent annual growth rate of 8.87%. Please refer to our financial overview of Diamond Credit Union for more details.
Diamond Credit Union (NCUA Charter # 68241) was originally founded in 1947 as the Spicer Pottstown Federal Credit Union, serving the employees of Spicer Manufacturing Company. After almost 70 years of continuous service, two name changes and charter changes, Diamond Credit Union today has over 50,000 members and assets in excess of $443 Million.
How the CDs Compare
While the minimum deposit of $10K is higher than required on the majority of similar length of terms CDs, the APYs on Diamond Credit Union's 29-month and 54-month CDs are competitive, when compared to CDs available to residents of Pennsylvania.
The above rates are accurate as of 2/2/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.
Service was excellent from start to finish. The CD is for 54 months at 2.3%. The person I assisted is retired and their money was earning little or no interest in a nationally known bank.
Withdrawal penalty after six months is six months interest. Withdrawals less than six months into the term are charged all interest earned to date on the amount withdrawn. I was told that partial withdrawals were allowed and interest penalties only applied to the amount withdrawn. Anyone interested should verify terms for themselves.
Thanks again to Ken. Diamond is in my general and I'm not sure how I missed it. They have a top notch reputation in Pennsylvania and their financials (I read the summary while I waited) appear as good as they come.