4.25% 12-Month / 4.50% 60-Month CD at a Michigan CU (Michigan Schools & Government).


Update 3/1/08: The CD rates have fallen. Please check the institution's website for the latest rates.

Update 2/16/08: The CD rates have fallen by 20 basis points. The new 12 and 60-month CD yields are 4.25% APY and 4.50% APY. The title has been changed to reflect this change. Please check the credit union's website for the latest rates.

Michigan Schools & Government Credit Union is offering high rates on its certificates of deposit. The yields include 4.40% APY for 6 months, 4.45% APY for 12 months, 4.50% APY for 24 months, 4.60% APY for 36 months, 4.65% APY for 48 months and 4.70% APY for 60 months. The minimum deposit is $500. These same rates are also available in an IRA CD.

Membership is open to employees and members of several organizations located within 25 miles of the credit union's offices. Also eligible to join are relatives of individuals who are members or who are eligible to be members. Please see the credit union's Membership page for the full details. Membership requires a minimum deposit of $5 into the savings account.

Branches are located in the Michigan townships of Clinton, Shelby and Chesterfield, and the cities of St. Clair Shores, Sterling Heights, Chesterfield and Troy. The credit union is federally insured by the NCUA (Charter # 62049). It has $820.4 million in assets and 61,298 members.

Thanks to Bruce who mentioned these CD rates in the finding-the-best-rates post.
5.85% 40-Month / 5.90% 60-Month CD at a Michigan CU (Schools and Government)
Michigan Schools and Government CU has competitive CD rates on all of its regular CD terms in addition to two CD specials. The CD specials include a 5.85% APY 40-month CD and a 5.65% APY 16-month CD. These require money new to the credit union. The regular certificates have APY's that range from 5.30% for the 6-month term to 5.90% for the 5-year term. The long term rates are especially competitive: 5.90% APY 5-year, 5.80% APY 4-year and 5.70% APY 3-year. All of the certificates have a minimum deposit of...
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