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5.00% Money Market Account Guaranteed to 6/30/08 at a TX/CA Credit Union with Easy Membership (Premier America)


Premier America Credit Union is offering the Money Market Super Saver with a 5% APY for balances over $10K guaranteed to last until at least June 30, 2008. The minimum deposit is $10K, and it must be money new to the credit union. Balances under $10K will earn the share savings rate which is currently 0.75%.

The 5% yield isn't that great, but the 8-month guarantee makes this a pretty good deal especially if the Fed cuts rates again today.

Premier America has offered some nice CD promotions in the past. Last May it was offering a special 7% 7-month CD with a $7K max deposit.

Field of membership includes members of the Alliance for the Advancement of Arts & Education (AAAE). Anyone can join this organization. According to the membership page:
When you apply for membership, be sure to select "AAAE" on the company listing. Then complete the AAAE application that will be provided during online account opening.

I was able to select AAAE in the application when I selected the radio button for "I am a member of an eligible company or organization". A link to an AAAE pdf document was listed. This document stated:
AAAE's one-time membership fee is $25. Premier America Credit Union will grant this fee on your behalf when you join AAAE to become a qualifying member with Premier America Credit Union. The funds will be sent to the AAAE office, and will be used to support arts and education mission.

You can qualify to join Premier without joining AAAE if you live, work, worship or attend school in Ventura County, the San Fernando Valley, the Santa Clarita Valley or most other areas of Los Angeles County, or live, work, worship or attend school within 10 miles of our Westchase branch in Houston, Texas. In addition, you can be eligible if you're an employee or member of a long list of companies and organizations.

Membership requires a one-time fee of $5 and a minimum deposit of $5 into the savings account.

Premier America has branches in both Southern California and Houston, Texas. The credit union is federally insured by the NCUA (Charter # 68428). It has $1.32 billion in assets and over 72,821 members.

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Punny Money
Punny Money (anonymous)   |     |   Comment #1
I think I'll sign up for this one. While most of my cash is in those delicious SECU 9.36% CDs, anything that comes in during the next 7 months will need a good non-CD home.
Ade (anonymous)   |     |   Comment #2
Hi Punny Money, DELICIOUS indeed!!! May I know where you were so lucky as to lock in a 9.36% CD??? And for how long is it? Of course, I know that this era is gone for now, but nevertheless it's good to know it. Is "SECU" the name of the organization? If you care to share, it will be awfully nice of you. Of course, with my luck, when something as DELICIOUS appears...my money is tied up in a CD, although thanks to Ken, the Banking Guy, I was able for the first time in a long time to take advantage of the Penfed's 6% CDs. And, yes, I had to make an early withdrawal of a CD that would be until 2010 at 4.5%. Thank you Ken!!! :o) Adela