CD Special & Reward Checking Update at United Heritage Credit Union in Texas
United Heritage Credit Union is offering a special 18-month CD with a 1.38% APY. It's called the Got Green CD Promo, and it's listed at the credit union's promotions page as of 6/29/2011. As usual, it's a limited time promotion.
Those in Austin might remember United Heritage Credit Union's reward checking called Heritage Checking Account. United Heritage was one of the first in Austin to offer a high-interest reward checking account. Back in 2007, the rate was 6.01% APY for balances up to $25K. Both the rate and balance cap have fallen considerably. For new customers, it's now only 1.35% APY for balances up to $10K. My last review of this account was in June 2010.
Membership in United Heritage is open to those who live, work or attend school in Travis, Williamson, Bastrop, Caldwell, Hays, Smith or Wood County, Texas. You can also be eligible via family or select employer groups. Please refer to the credit union's membership page for the full details. Membership requires a minimum deposit of only $1 into the savings account.
Credit Union Overview
United Heritage Credit Union branches are located throughout the Austin metro area and in Tyler in Northeast Texas.
The credit union has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 9.62% (above average) based on March 2011 data. Please refer to our financial overview of United Heritage Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68251).
How These Rates Compare
If you're in the Austin metro area, there are still a few better reward checking accounts than what United Heritage now offers. You can review these in my survey of the best checking accounts in Austin. Also, Capital One continues to offer a very good checking account deal in the Austin Metro area.
For CD rates, the best nationally available 18-month CD rate is 1.55% APY at Alliant Credit Union (as of 6/29/2011).
Searching for the Best Checking & CD Rates
To search for the best nationwide rates and the best rates in your state, please refer to the CD rates section and the reward checking rates section of DepositAccounts.com. Use the "Filter Accounts" button on top of the table to select either nationwide accounts and/or your state.
Their promotional checking account was really amazing but the interest rate has been slowly hatcheted down year after year. I was a little shocked at my last statement (as the interest looked lower yet again) so I checked their website:
This shows a rate of 1.35% - the same for new accounts and those grandfathered in. BUT... those with accounts older than 5/2010 get the 1.35% rate on the first 25K in the account. Those with newer accounts only get that rate on the first 10K. Then the rate drops to 0.30%.
For those living in the Austin, TX area I suggest giving them a look if you are new to the area or need a new bank/CU.