4.25% 60-Month CD at Valley Credit Union (now part of CEFCU) in California


Valley Credit Union (now part of CEFCU) is offering a 4.25% APY 60-month share certificate. Minimum deposit is $1,000. This is also available as an IRA Share Certificate. The rate is listed in the credit union's rate table as of 1/09/09. It's also mentioned on the front page of the credit union's website.

Valley Credit Union was recently assumed by Citizens Equity First Credit Union (CEFCU) on December 31, 2008. This was arranged by the NCUA while the NCUA was operating Valley CU in a conservatorship. The conservatorship started in early September 2008. It appears Valley CU will continue to operate for the time being with the same branches and field of membership. However, Valley CU members appear to now be officially CEFCU members. CEFCU is an Illinois based credit union which services a 14-county area in Central Illinois. CEFCU's certificate rates are a little lower.

Membership is open to those who reside, regularly work or regularly worship in Santa Clara County, Contra Costa County or Alameda County. You can also be eligible to join via select employee groups and immediate family. Please refer to the credit union's Membership Page for the full details.

CEFCU is federally insured by the NCUA (Charter # 68448).

Thanks to the reader who mentioned this CD special in the finding-the-best-deals post.
Related Pages: CD rates

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It's important to note that this credit union was placed into NCUA conservatorship on September 2nd (see post). Several recent cases of credit unions that have been placed into conservatorship have resulted in liquidation before assets were assumed by another credit union. So it's especially important to keep your deposits under the NCUA limits.

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