Competitive 22-Month CD Rate at Redwood Credit Union in CA - Local Only
Redwood Credit Union has some competitive rates on its CDs with terms of 22 to 25 months. The rates range from 2.10% APY for a $1K minimum deposit to 2.30% APY for a $100K minimum. These same rates are also available in an IRA. These rates are listed at the credit union's rates page as of the morning of 5/14/2010.
Membership is open to anyone living or working in the following Northern Bay Area counties of California: Sonoma, Marin, Mendocino, Lake, Napa, San Francisco, Contra Costa and Solano. Please refer to the credit union's about page for the full details.
Redwood Credit Union's financial health has improved over the last year. According to this PressDemocrate.com article:
Redwood Credit Union earned $1 million in first quarter, a significant improvement compared to a year ago, when it lost millions of dollars during the global financial collapse.
Its ratings for safety and soundness are a little weak: 3 stars (adequate) at BauerFinancial, 2 stars (below peer group) at Bankrate.com and an overall health score of 4 out of 5 at DepositAccounts.com (see our Redwood CU rates and reviews page). The credit union is federally insured by the NCUA (Charter # 60793).
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