10% 12-Month CD at a Houston CU - $5K Max (Smart Financial).


Smart Financial Credit Union is having a special at its new Sugar Land branch. They're offering a 10% APY 12-month certificate of deposit. The minimum is $1K and the maximum is $5K per member. It's only available at the new Sugar Land branch which is located southwest of Houston, Texas. No checking account is required. The special expires on September 30th.

The special is not listed at the credit union's website. It was mentioned on the FW CD thread. I called to confirm and to obtain additional details.

The $5K max makes this a very good deal. This results in about an extra $225 over what you could get with a market leading 12-month CD. If you can open one for each member of your family, you'll add another $225 for each.

The credit union's field of membership includes those who live in Harris and Montgomery County, Texas. Also, there's a long list of Select Employee Groups. A minimum $5 deposit into a savings account is required for membership.

The credit union is NCUA insured with 78,000 members and $334 million in assets.

  |     |   Comment #1
The CSR rep over the phone notified me that this special CD rate is available only to FORT BEND County and City of Sugarland residents only. Of course, Harrisi County and Montgomery county residents can join the CU, but not receive the special CD rate.
  |     |   Comment #2
I don't think this is correct - I've spoken to two CSRs today, and both said that the 10% CD deal is available to anyone eligible to join the credit union. It also appears that you can go to any branch, mention the deal, and you can get it, but this isn't totally certain. One CSR said it had to be at the Sugar Land branch, and then a second one said rather emphatically that you could go to any branch - even gave me directions to the nearest one. Anyway, just the info I got.
  |     |   Comment #3
Ditto - not just Sugar Land - 2 CSR told me to walk into any branch. I'll give it shot tomorrow.
  |     |   Comment #4
I just talked to them on the phone. They were very specific. If you did not live in Sugerland or Fort Bend County you were not eligible for the 10% rate.
  |     |   Comment #5
I just opened one this morning at
the Imperial Valley branch in
Spring, Tx (North of Houston). They
said if you ask for it, you get it.
  |     |   Comment #6
I opened one yesterday at The Woodlands, TX Branch. They honor the 10% rate if you tell them you heard about it.No new checking account is required, just a share account with a $5 balance. $1K min, $5k Max for the CD.
  |     |   Comment #7
I also opened one this morning at the Newcastle branch. First I was told it only was available at the Sugarland branch. But I told them that someone opened the CD at a different branch. Then another person came and said I can open one if I heard about it.
  |     |   Comment #8
Opened one today at the North Loop office - someone else was in there too, doing the same thing. FWIW, they let me write one check for both accounts.
  |     |   Comment #9
I don't know if this is posted anywhere, but now they're listing on their website a special for a 90k Jumbo 18m @ 5.90. Not as good as 10%, but there's not a 5k max.
5.90% 18-Month CD at a Houston CU ($90K min)
Smart Financial Credit Union has a CD promotion with some very high rates for large deposits. The best deal is Jumbo 18-month CD with a 5.90% APY. The minimum deposit is $90K. The 18-month Mini-Jumbo CD only requires $25K and has an APY of 5.38%. The regular CD requires $1K minimum and has an APY of 5.12%. There are also special rates for 30-month and 60-month terms. Below is the full rate list for these special certificates of deposit:
Term $90K min $25K...

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