Polish & Slavic Federal Credit Union is a CD promotion for June with some competitive rates. The special rates include 3.00% APY for 5 years, 2.50% APY for 4 years, 2.10% APY for 3 years and 1.75% APY for 2-years. The credit union is limiting this deal to a maximum deposit of $20,000 and only one special CD per member. Minimum deposit is $500. The special rates are listed in the credit union's promotions page, and it's scheduled to last until 6/30/2011.
Thanks to the reader who mentioned this promotion in the comments.
As the credit union name suggests, you must have Polish or Slavic ethnic origins to be eligible to join. Details of the membership requirements are listed in the credit union's About Us page:
In order to become a member of our Union, or any other credit union, one must meet certain specific conditions. In the case of PSFCU, prospective members must document Polish or Slavic ethnic origin and become members of one of the seven sponsoring organizations: the Polish & Slavic Center (Brooklyn), Polish Cultural Foundation (Clark, NJ), Polish Friends of Copiague (Long Island), the Polish Supplementary School Council of America, the General Pulaski Memorial Parade Committee, Alliance of Polish Clubs in the United States (Chicago) or the Polish Highlanders Alliance of North America (Chicago, IL).
Readers in the past have reported problems in qualifying for membership.
Polish & Slavic Federal Credit Union branches are located in the suburbs of Chicago, in New York City and in other New York and New Jersey cities.
It's a sizable credit union with $1.39 billion in assets. The credit union has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 10.07% (above average) based on March 2011 data. Please refer to our financial overview of Polish & Slavic FCU for more details. The credit union is federally insured by the NCUA (Charter # 22592).
How These Compare
These PSFCU special CD rates compare favorably to the best nationally available CD rates. The best 5-year CD rate available nationwide continues to be at Connexus Credit Union with a 3.00% APY, but this requires an active checking account. Without the checking requirement, the best 5-year CD rate is 2.93% APY at Melrose Credit Union.
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.