5.08% 60-Month / 4.78% 12-Month CD at a Virginia CU (Fort Lee).

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Update 2/2/08: The CD rates have fallen. Please check the credit union's website for the latest rates.

Fort Lee Federal Credit Union has some high certificate rates ranging from 4.78% APY for a 12-month term to 5.08% APY for a 60-month term. The minimum deposit is $2,500. The same rates and terms are also available as an IRA certificate. Since the rate table had a December date, I called today, and I was told that these rates are still valid. Rate changes are usually made on Wednesdays.

Membership is open to those who live, work, worship, volunteer or attend school in Prince George (Fort Lee), Dinwiddie, Chesterfield, Sussex Counties and in the independent cities of Petersburg, Hopewell and Colonial Heights. Please refer to the credit union's Join-Us Page for the the full details. Membership requires a $1 fee and a minimum $25 deposit in the regular savings account.

Branches are located in Fort Lee and Prince George, Virginia. The credit union is federally insured by the NCUA (Charter # 7722). It has $109.7 million in assets and 11,971 members.
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5.65% 5-year CD at a Virginia CU
The Fort Lee Federal Credit Union has some very good rates on long-term CDs. The 5-year CD has a rate of 5.65% APY and the 3-year CD has a rate of 5.16%. There's a minimum required deposit of $2.5K.

The early withdrawal penalty for these certificates of deposit is 180 days of interest which makes these a much better deal than some CDs which charge a penalty equal to half of the term in interest.

The only problem with this credit union is its restrictive field of membership. It's primarily an employer...



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