One-Year 5.00% CD Special


I've found a 1-year 5.00% APY CD special being offered by the Point West Credit Union. It requires a $5K minimum deposit with money new to the credit union. It has branches in Portland, Oregon. Unfortunately, the field of membership is rather restrictive. You can't just live in Portland. Instead, you have to be affiliated with certain employers.

If you are eligible to join this credit union, you may be able to get this CD rate up to 5.50%. The credit union has a point system in which you can earn points for several types of activities. The points can then be redeemed for a lower loan rate or a higher certificate of deposit rate. For example, you can earn 100 points when you register for and use Bill Pay. But it takes a lot of points to get better CD rates. You need 2500 points to get a 0.25% higher CD and 5000 points to get the extra 0.50%.