Space Coast Credit Union has become one of the largest credit unions in Florida. For those looking for a competitive long-term CD rates, Space Coast Credit Union has a few good deals. The two best ones are a 5-year CD with a 2.17% APY and a 54-month CD with a 2.02% APY. These are also available as IRA CDs. Minimum deposit is $500. These rates are listed at the credit union CD rates page as of 10/11/2011. Slightly higher rates are possible with the credit union's members rewards program.
The size of the credit union is also apparent from its field of membership. Most all of Florida's east coast and part of the Tampa metro area can qualify for membership. Credit union membership is open to all who work or live in any of the following Florida counties: Brevard, Broward, Clay, Duval, Flagler, Hillsborough, Indian River, Martin, Miami-Dade, Monroe, Nassau, Orange, Osceola, Palm Beach, Pinellas, Seminole, St. Johns, St. Lucie, and Volusia. Please refer to the Who Can Join page for more details.
In June 2009, the NCUA then arranged for Eastern Financial Credit Union to be merged into Space Coast Credit Union. This expanded Space Coast to include South Florida and the Tampa area.
Space Coast Credit Union branches are located from Miami to Jacksonville on Florida's east coast. There are also several branches in and around Tampa.
The credit union has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 38.78% (below average) based on June 2011 data. Please refer to our financial overview of Space Coast Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 67297).
How These CD Rates Compare
If you're looking for decent CD rates in Florida, you know it's not easy. There are a few Florida credit unions with slightly higher 5-year CD rates. Two examples include Tropical Financial Credit Union with a 2.25% APY 5-year CD and People's Alliance Credit Union with a 2.24% APY 5-year CD. Both of these are located in Southeast Florida. As I described in May, one nice thing about People's Alliance is its small early withdrawal penalty.
The highest 5-year CD rate at an all-access credit union is 2.75% APY (2.85% for $100K) at Firstmark Credit Union (as of 10/10/2011). You can get 2.86% APY at Digital Credit Union, but this requires a relationship checking account.
For banks, 5Star Bank's 5-year CD rate of 2.25% APY is currently the highest for nationally available 5-year CDs.
These rates are accurate as of 10/11/2011.
Searching for Top CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.