Pacific Marine CU (CA) Has Competitive 13-month CD
At the beginning of July, Pacific Marine Credit Union (PMCU) added a 13-month Share Certificate (1.30% APY) to its product line. The minimum opening deposit is $1K, with a $1M maximum opening deposit.
The 13-month Share Certificate is also available as an IRA (Traditional and Roth), earning the same APY and with the same funding requirements.
According to CSR, the Early Withdrawal Penalty is "all dividends earned."
Military Saver Certificates
PMCU also has a series of Military Saver Certificates for active duty military personnel, which appear to have fairly decent rates, particularly the 1-Year (3.00% APY). Unfortunately, the stated 3.00% APY isn’t as good as it appears at first glance.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 3.00% | $100 | $500 | Frontwave Credit Union | 1 Year Military Saver Certificates |
"Saver" should have tipped me off: this is essentially a 1-Year savings account that has a maximum deposit of $500 per month throughout the life of the Certificate, or a maximum deposit of $6K. The math works out this way:
Twelve $500 monthly deposits x 3.00% APY = $97.06 (1.618% blended APY).
Availability
Pacific Marine Credit Union’s field of membership is quite straightforward: individuals who live, work, or worship in San Diego, Riverside, or San Bernardino Counties are eligible for membership.
In addition, individuals who are immediate family members of current PMCU members also qualify for membership.
Joining PMCU and/or opening the 13-month Share Certificate can be done online or in person at any of 13 California branches located in Barstow, Camp Pendleton (2), Oceanside (2), San Diego (2), San Marcos, Temecula (2), Twentynine Palms, Vista, and Yucca Valley.
The application process can also be initiated by filling out a contact form.
Use our online form to Contact Us, and we will follow up with you within 48 business hours.
Credit Union Overview
Pacific Marine Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 1.02% (excellent), based on March 31, 2015 data. In the past year, PMCU has increased its total deposits by $2.05 Million, an above average annual growth rate of 0.34%. Please refer to our financial overview of Pacific Marine Credit Union for more details.
Pacific Marine Credit Union was established in 1952 as Camp Pendleton Federal Credit Union, serving the financial needs of Marines, Sailors, and civilian military employees in Southern California.
The good old days...Cadillacs had fins, the Dodgers were still in Brooklyn, Elvis was just an unknown kid from Tupelo, Dwight D. Eisenhower was President, and there was no such thing as Personal Computers.
63 years later, Pacific Marine Credit Union's field of membership has expanded to include the 2nd, 4th, and 5th most populous counties in California, with current membership of 75,700+ and assets in excess of $712 Million.
How the CD Compares
When compared to the 302 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to California residents, Pacific Marine Credit Union’s 13-month Share Certificate currently tops the list.
The above rates are accurate as of 7/11/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.
