Water and Power CCU (CA) Offers 48-Month CD

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Deal Summary: 48-month Savings Certificate, 3.00% APY, $10k min/$500k max.

Availability: Employees of Los Angeles Department of Water and Power (LADWP); residency based on Zip Code (LADWP service area); 15 other SEGs.

Southern California based Water and Power Community Credit Union (WPCCU) is currently offering 3.00% APY on its 48-month Savings Certificate. The minimum deposit to earn the 3.00% APY is $10k, with a balance cap of $500k. Deposits between $1k and $9,999 earn 1.51% APY. According to the promotion page, this is a limited-time offer, but no specific end-date is mentioned.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.51*%$1k$99kWater And Power Community Credit Union48 Month CD
1.51%$99k-Water And Power Community Credit Union48 Month Jumbo CD
Rates as of May 23, 2018.

The 48-month Savings Certificate’s APY had been steady at 1.51% for more than 30 months until last week’s 149 bps increase.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty (EWP) reads as follows:

Terms of 48 months or less 90 days' dividends.

With such a mild EWP, closing a 48-month Savings Certificate early actually results in competitive APYs. DA’s Early Withdrawal Penalty Calculator shows the effective yields (on a month-by-month basis) for the 48-month Savings Certificate. For example,

    2.26% APY – closed at 1 year

    2.64% APY – closed at 2 years

    2.77% APY – closed at 3 years

Availability

Headquartered in Los Angeles, Water and Power Community Credit Union’s field of membership (FOM) is primarily residency-based with individuals who live, work, worship, or attend school in a qualifying zip code, eligible to join. (The qualifying zip code area includes much of the Los Angeles Department of Water and Power’s service area.)

Employees of the Los Angeles Department of Water and Power (and their family and household members) are eligible for membership.

Employees of 15 other SEGs also qualify for membership.

Immediate family and household members of current WPCCU members are welcome to apply.

WPCCU’s membership application is available for download and can be returned to any of five California branches located in Granada Hill, Los Angeles (2), Sun Valley, and Westchester.

Opening a 48-month Savings Certificate must be opened at any of the above mentioned branches.

Credit Union Overview

Water and Power Community Credit Union, has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.24% (excellent) based on September 30, 2017 data. In the past year, WPCCU has increased its total non-brokered deposits by $33.35 million, an excellent annual growth rate of 6.16%. Please refer to our financial overview of Water and Power Community Credit Union (NCUA Charter # 68493) for more details.

Water and Power Community Credit Union was originally established in 1936 for the benefit of the employees of the Department of Water and Power. In 2001, WPCCU’s charter was changed to a community credit union, expanding its field of membership to residents in the Los Angeles Department of Water and Power’s various service areas. WPCCU currently has more than 35,800 members and assets in excess of $633 million.

How the Savings Certificate Compares

When compared to the 235 similar length-of-term CDs tracked by DepositAccounts.com that are available with the FOM, Water and Power Community Credit Union's 48-month Savings Certificate APY currently ranks first, regardless of minimum deposit.

The above rates are accurate as of 1/8/2018.

To search for the best nationwide CD rates and the best CD rates in your state, please refer to our CD Rates table.

Related Pages: Los Angeles CD rates, 5-year CD rates

Comments
Robb
Robb   |     |   Comment #1
Looks like a great deal IF you qualify especially in light of the mellow 90 day EWP which minimizes the risk should rates continue to rise.
UCLA
UCLA   |     |   Comment #2
SEEMS LIKE YOU HAVE TO GO TO A BRANCH IN PERSON TO OPEN AN ACCOUNT.
AND
IF ITS A "JOINT ACCOUNT" THATS COOL CAUSE "JOINTS" ARE NOW LEGAL IN LOS ANGELES.
ITS ALL GOOD
Dunmovin
Dunmovin   |     |   Comment #3
If one is a member of UCLA alumni assn. are they qualified?
UCLA
UCLA   |     |   Comment #4
IF YOU LIVE IN AN AREA CODE THAT IS SERVED BY THE LA DWP (LOS ANGELES DEPARTMENT OF WATER AND POWER), THEN THAT QUALIFIES.
I DO NOT KNOW NOR DO I THINK THAT BEING A MEMBER OF UCLA ALUMNI QUALIFIES.
cze
cze   |     |   Comment #5
Eligibility is open for people who live, work, worship or attend college or trade school in the greater Los Angeles area. Call 800-300-9728 for details.
Nothing
Nothing   |     |   Comment #6
Just notified the 4 year rate of 3% just changed to 1.5% for new CDs.
Water and Power CCU (CA) Offers Up To $300 In Bonuses
Availability: Employment with Los Angeles Department of Water and Power (LADWP), residency based on Zip Code (LADWP service area),and approximately 85 other SEGs

Southern California based Water and Power Community Credit Union (WPCCU) is offering up to $300 in cash bonuses.

There are actually two separate bonuses: a $200 bonus when opening a new checking account with direct deposit and/or a $100 bonus when financing or refinancing an auto loan.

$200 Checking Account Bonus Requirements

  • Establish WPCCU membership with a minimum $25 savings account deposit .
  • Open any of three...

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Water and Power Community Credit Union is advertising a certificate special with a yield up to 5.50% APY and a term of 9 months. The minimum deposit is $5,000. The 5.50% APY requires opening a Free Power Checking Account with direct deposit. However, you can still get 5.45% APY without this requirement. New money is required.

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The field of membership includes those who live, work, attend school or worship in many communities within the greater Los Angeles area, San Fernando Valley and portions of the San Gabriel Valley. Relatives of the above also are eligible along with a long list...

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