6.45% 7-Month CD at a California CU (KeyPoint)


KeyPoint Credit Union is offering 7-month certificates with yields as high as 6.45% APY. However, this highest rate has several requirements which includes a $75K deposit, established as an IRA, direct deposit and money new to the credit union. Some decent rates are still available as a regular CD and without direct deposit. This includes a 6.00% APY 7-month CD with a $75K minimum deposit, a 5.75% APY 7-month CD with a $25K deposit and a 5.25% 7-month CD with a $10K deposit. The APY for a 7-month IRA CD is 0.20% higher. Another 0.25% is added for direct deposit. Shorter terms are available with lower rates.

These special CDs are called Liquid Certificates. You are allowed 3 deposits or withdrawals during the term. However, the interest rate will adjust if you fall below one of the rate tiers. If it falls below $10K, you'll only earn the regular share savings account rate.

The field of membership includes those who live, work, worship or attend school in one of the following California counties: Alameda, Contra Costa, Sacramento, San Mateo, Santa Barbara, Santa Clara and designated areas of Ventura County. You can also be eligible to join through select employer groups or family relation. See site for details.

One downside with this credit union is a $35 one-time membership fee. Remember to try to get this waived if you join to open a CD. Often these fees are negotiable.

Branches are located in Concord, Cupertino, Milpitas, Pleasanton, Santa Clara, San Jose, Sunnyvale, Folsom and Goleta.

KeyPoint is NCUA insured. It has $692 million in assets and over 68,000 members.

Thanks to Sree who mentioned this CD special in the finding deals post.


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