Every now and then a credit union will have a promotional CD that’s a better deal than what you can find at internet banks. That’s the case at Westmark Credit Union which is offering a promotional 11-month CD with a 1.16% APY. Minimum deposit is $500. The offer is scheduled to end on May 17, 2014. More details are listed at the credit union’s promotions page.
Westmark Credit Union’s field of membership isn’t based on a geographic area, but it’s close. According to the credit union’s membership page, you can qualify for membership if you’re "employed by or retired from most employers located in 34 counties throughout Idaho." The state only has 44 counties, so the field of membership appears to cover most people in the state. Please refer to the credit union’s membership page for more details.
To maintain membership in the credit union it’s required to keep at least $25 in the Primary Savings Account.
Credit Union Overview
Westmark Credit Union branches are located in the Idaho cities of Idaho Falls, Nampa, Meridian, Eagle, Rigby, Rexburg, Blackfoot and Pocatello.
According to Westmark’s history page, "Westmark Credit Union was founded in 1954 as Atomic Workers Credit Union by eleven Idaho National Engineering Laboratory employees, with a single location in Idaho Falls." After several mergers and new branches, the credit union changed its name to its current name in 1998.
The credit union has an overall health grade at DepositAccounts.com of an A with a Texas ratio of 0.51% (excellent) based on December 2013 data. Please refer to our financial overview of Westmark Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68353).
How this CD Rate Compares
The best 12-month CD rate that’s nationally available is 1.15% APY at Melrose Credit Union. There are two all-access credit unions that currently have special 13-month CDs. These are Quorum Federal Credit Union with a 1.25% APY and USAlliance Credit Union with a 1.21% APY.
The highest 12-month CD rate from an internet bank is 1.07% APY at VirtualBank. The internet bank GE Capital Retail Bank has a 13-month CD special with a 1.10% APY.
The above rates are accurate as of 5/7/2014.
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.