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4.70% 18-Month CD at California Credit Union - Easy Membership.


Update 2/8/08: The rates have fallen. For the 18-month term, the new yields are 4.50% APY for $100K and 4.35% APY for $1K. Please check the credit union's website for the latest rates.

California Credit Union has some competitive certificate rates. The highest yield is 4.70% APY for an 18-month term and minimum deposit of $100,000. The yield for a $1,000 minimum is 4.55% APY. The yields for the shorter term certificates are also competitive. These are also available in an IRA certificate.

I noticed on their savings accounts & certificate page, they have a link to an online certificate application. It appears that you can open the certificate online and fund it with money that's in your California Credit Union savings or checking account.

The credit union has offered several CD promotions in the last couple of years. My last report on this credit union was in May 2007.

Credit union membership is open to members of the Parent Teacher Association or the Parent Teacher Student Association. According to the credit union's membership page, if you're "Not a PTA/PTSA member? We'll sign you up!" Also, public television contributors are eligible. Please see the membership page for the full list of ways to be eligible to join the credit union. At the bottom of the membership page is a link to an online membership application.

The main office is located in Glendale, California. It has several other branches in Los Angeles, North Hills, Encino, Pasadena and Torrance. The credit union is federally insured by the NCUA (Charter # 60784). It has $1.22 billion in assets and 77,618 members.

Other CD Deals

The 4.70% and 4.55% APY's may seem low, but after the recent massive Fed rate cuts, these rates are very high compared to what's available. For example, the highest yield for a 18-month CD listed at Bankrate is 4.05% APY at Intervest National Bank. Alliant Credit Union still has a 4.90% APY certificate for a $25K minimum deposit (4.50% for a $1K minimum) for terms from 12 to 17 months (see post).

Related Pages: CD rates, IRA rates, California Credit Union, Los Angeles

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Bozo (anonymous)   |     |   Comment #1
Remember what I always said, anything over 5% is a gift. Now, if I can average 4% in my ladder, I'll break even. Take out four, yield four, and all that. So far, so good, with most of my CDs averaging well over 5.5%.

My wife wondered what I was talking about when I scurried down to San Mateo to Alliant Credit Union to open that 5.4% 2 year CD. She wonders no longer. Much less the 5.75% 10 year at KeyDirect.

Somehow, I just thought prudence dictated.



PS: I puked when I saw the latest rates at USAA. I guess they don't need money at this time.
Anonymous   |     |   Comment #2
These rates have already declined. The 18-mo APY is now 4.5% for $100K and 4.35% for $1K.