SCE Federal Credit Union is offering a competitive rate on its Jumbo 5-year CD and IRA CD. Currently, it has a 1.91% APY for a $100,000 minimum deposit. The rates are lower for smaller deposits. These include a 1.80% APY for $50K, 1.75% APY for $25K and 1.65% APY for $1K. These rates are listed in the credit union's rates page as of 6/27/2012.
SCE FCU is another credit union which makes it easy for anyone to join. According to the credit union's Become-a-Member page:
If you’re reading this, you can join SCE FCU. You only need $15 to open your account - $5 goes into your savings and secures your ownership in the Credit Union, and the remaining $10 is a tax-deductible donation to our non-profit SCE FCU Foundation.
A link to the membership application is at the Become-a-Member page. It's a PDF form that must be dropped off at a branch or mailed.
SCE FCU branches are located in Southern California and in Southern Nevada.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 7.08% (excellent) based on March 2012 data. Please refer to our financial overview of SCE Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 7835).
How This CD Rate Compares
For those in Southern California or Nevada, you can get a CD rate that's a little higher than this SCE FCU Jumbo 5-year CD. If you're in Southern California, BBVA Compass is still offering a 2% APY 5-year CD. For those in Southern Nevada, Mountain America Credit Union is still offering a 2% APY 5-year CD.
The best nationally available 5-year CD rate that is 2.20% APY at Justice Federal Credit Union. This is a Jumbo CD that requires a $100K minimum deposit. For a $5K minimum deposit, Melrose Credit Union offers a 2.17% APY 5-year CD.
These rates are accurate as of 6/27/2012.