3.10% 18-Month CD at First Northern Credit Union in Illinois

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First Northern Credit Union is offering several some competitive certificate rates. The best rates require a minimum deposit of $50,000. The most competitive include 2.95% APY for 12 months, 3.10% APY for 18 months and 3.25% APY for 24 months. Lower rates are available for a $25K minimum and $2,500 minimum. The credit union also has some high rates for Coverdell Education Savings Account Certificates with yields ranging from 3.30% APY for 6 months to 4.35% APY for 60 months. These rates are listed in the credit union's rate table as of 2/24/09.

Membership is available to anyone who lives or works in the following counties in Illinois: Boone, DeKalb, DuPage, Grundy, Kane, Kendall, Lee, McHenry, Ogle, Stephenson, Will and Winnebago. There are also several Select Employee Groups. Please refer to the credit union's Who-is-eligible page for more details. Membership requires a minimum deposit of $5 into your share savings account.

Branches are located in Chicago, Evanston and Rockford, IL. The credit union is federally insured by the NCUA (Charter # 66359).
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5.55% 36-Month CD at an Illinois CU (First Northern).
Update 12/31/07: The CD rates have fallen. Please check the credit union's website for the latest rates.

First Northern Credit Union is offering a 5.55% APY 36-month share certificate (see rate table). The minimum deposit is $50,000. Yields of 5.35% APY and 5.25% APY are available for minimum deposits of $25K and $2.5K. The credit union also has some high rates for Coverdell Education Savings Account Certificates with yields as high as 6.25% APY for a 36-month term. These rates have been listed since last year, so I gave the credit...

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6.25% 36-Month CD at an Illinois CU - Coverdell (First Northern)
First Northern Credit Union is offering high yields on Coverdell Education Saving Account Certificates. The yields range from 6.25% APY for a 3-year term to 5.20% APY for a 6-month term. The minimum deposit is $500.

The credit union has a good FAQ (pdf) on Coverdell Education Savings Accounts. Contributions are not tax deductible, however, all earnings are tax free as long as the withdrawal is used to pay for qualified education expenses.

Other than the Coverdell CD, the credit union has a decent rate of 5.55% APY for a regular 36-month...



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