|2.45%||$100k||-||Navigator Credit Union||60 Month Jumbo IRA|
|2.05%||$100k||-||Navigator Credit Union||48 Month Jumbo IRA|
|1.60%||$100k||-||Navigator Credit Union||24 Month Jumbo IRA|
Navigator Credit Union is offering very competitive CD and IRA CD rates. The highest rates are Jumbo IRA CD rates. The most competitive include a 2.35% APY for 5 years, 2.00% APY for 4 years and 1.40% APY for 2 years. These are IRA rates with a minimum $100K minimum deposit. The regular CDs with small balances have rates that are 15 basis points lower. These rates are listed in the credit union's rates page as of 6/28/2012. There's an old date at the top of this page, but I called the credit union yesterday and I was informed these rates are up-to-date.
I was not able to find an account disclosure on the credit union's website. I asked the credit union CSR about the CD early withdrawal penalty, and I was told that the 5-year CD has a penalty of 180 days of interest. Make sure you review the account disclosure before opening the CD since CSRs are not always correct on these details.
You may have also noticed that the rate table lists a membership share account with a 2.27% APY. According to the CSR, this just holds a member's $5 initial deposit. The credit union's Primary Savings Account is the typical savings account with interest rates more inline with today's interest rate environment.
Credit union membership is open to those working, worshiping or going to school in Mobile or Baldwin County of Alabama or in parts of Gulfport, Mississippi. Also eligible are federal employees and retirees in Jackson County, MS. Small business employees in Jackson and Harrison County, MS are also eligible. Please refer to the credit union's membership page for the full details.
Membership requires a $5 balance in the membership share account and a $10 one-time membership fee.
Navigator Credit Union branches are located in Mobile, Alabama and in the Mississippi cities of Pascagoula, Gulfport, Moss Point, Vancleave and Ocean Springs.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 5.72% (excellent) based on March 2012 data. Please refer to our financial overview of Navigator Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 63637).
How These CD Rates Compare
For those in Mobile, Alabama, BBVA Compass is still offering a 2% APY 5-year CD.
The best nationally available 4-year and 5-year CD rates are 2.17% APY and 1.96% APY at Melrose Credit Union. The top 5-year CD rate used to be 2.20% at Justice Federal Credit Union, but this went down to 2.05% yesterday.
These above rates are accurate as of 6/28/2012.