Los Angeles Federal Credit Union is offering a nice CD special. It has a 13-month term and a 1.30% APY. Unfortunately, it has a low maximum deposit of $25,000, and only one certificate can be opened per member’s account. This special is listed at the credit union’s promotions page as of 7/3/2014. It’s a limited-time special that’s subject to change without notice.
The credit union is also offering a few bonuses. One is a checking account bonus in which you can earn $65 with direct deposit. Another one is a credit card bonus in which you can earn $100 for a $5,000 balance transfer, and there’s one that requires refinancing a car loan. Refer to the promotions page for the full details.
The credit union is open to anyone who lives in Southern California. All that is required is a $1 donation to the Los Angeles Charitable Association (LACA). Please refer to the credit union’s eligibility page for the full details.
Membership requires a one-time membership fee of $5 and a minimum balance of $5 in the share savings account.
In addition to Los Angeles, Los Angeles Federal Credit Union branches are located in the Southern California cities of Glendale, Van Nuys, Gardena, Culver City and El Monte.
Credit Union Overview
The credit union was established in 1936 to serve Los Angeles City employees. Its field of membership has expanded, and the credit union has grown to over 50,000 members. It has an overall health grade at DepositAccounts.com of an A with a Texas ratio of 4.41% (excellent) based on March 2014 data. Please refer to our financial overview of Los Angeles Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 1207).
How This CD Compares
The highest 12-month CD rate that’s nationally available is 1.15% APY at Melrose Credit Union. The highest 12-month CD rate at a bank is 1.10% APY. Three internet banks currently offer this rate. These are Synchrony Bank, GE Capital Bank and EverBank. These rates are accurate as of 7/3/2014.
To search for the best nationwide rates and the best rates in your state, please refer to our CD rates tables.