5.30% 60-Month / 5.25% 48-Month CD at a Utah Credit Union (Utah Community).


Update 2/2/08: CD rates have fallen again. Please check the credit union's website for the latest rates.

Update 1/19/08: The rates have fallen. Title modified with new rates: 5.30% APY 60-month, 5.25% APY 48-month and 5.20% APY 36-month. Please see credit union's website for latest rates.

Utah Community Credit Union has some high yields on its certificates. The high yields range from 5.15% APY for a 6-month term to 5.65% APY for a 60-month term. The other APYs include 5.30%, 5.40%, 5.50% and 5.55% for a 12, 24, 36 and 48 month term. The minimum deposit is $500. These are also available in an IRA.

Another nice thing about these CDs is that the early withdrawal penalty is only 90 days of interest. Long term CDs often have penalties of 180 days or more. According to their savings page you may be able to get higher yields on larger deposits, but I don't see any additional rates listed in their rate tables.

Membership includes anyone who lives, works, worships, or attends school in Utah, Wasatch, Juab, or Sanpete Counties. Please see the bottom of of their about page for more details. Membership requires a minimum deposit of $5 in your share savings account.

High CD rates seem to be rather common in Utah credit unions. Unfortunately, I haven't found any Utah credit unions with easy membership for those who live in other states.

Branches are located in Provo and several other Utah cities. The credit union is federally insured by the NCUA (Charter # 10709). It has $576.3 million in assets and 97,371 members.