5.65% 60-Month / 5.30% 12-Month CD at a Utah CU (Intermountain).


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

Intermountain Credit Union hasn't yet responded to the recent Fed rate cuts. It still has high CD rates. I just called and confirmed that these rates are still available. The highest yield is 5.65% APY for a 60-month term. The minimum deposit is $1,000. Below is the full list of rates as of this afternoon:

Term Rate APY
6-mo 5.05% 5.15%
12-mo 5.20% 5.30%
18-mo 5.25% 5.35%
24-mo 5.29% 5.40%
36-mo 5.39% 5.50%
48-mo 5.44% 5.55%
60-mo 5.53% 5.65%

In addition to high rates, these CDs have the nice feature of an early withdrawal penalty of only 3 months of interest.

Membership is open to all residents of Salt Lake County and their immediate family members. Employees in the retail food industry anywhere in Utah are also eligible to join. There are a few other select employee groups, but unfortunately, I don't see any easy way for people outside of Utah to be eligible to join. For the official details, please refer to the credit union's Membership & Eligibility page. Membership requires a minimum $25 deposit in the share savings account.

Branches are located in Salt Lake City, West Jordan, and Farr West. The credit union is federally insured by the NCUA (Charter # 67070). It has $35.5 million in assets and 7,805 members.

Other Utah CD deals

Thanks to the reader from Utah who emailed me info on these CDs. He also forwarded me info on Jordan Credit Union and University of Utah FCU. Like Intermountain CU, they haven't responded yet to the Fed rate cut. Both have high yield CDs close to what Intermountain CU is offering. University of Utah CU has a top CD yield of 5.30% APY for a 60-month term (also available in an IRA). Jordan CU has a top yield of 5.42% APY for a 60-month term. Most of the other terms of both credit unions have top yields of over 5%.
Related Pages: CD rates, IRA rates