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5.00% 5-Year CD & 3.00% 9-Month CD at Pacific Transportation FCU in California


Update 5/23/09: The 3% 9-month CD has now ended.

Update 4/27/09: The 5% 5-year CD has ended, but the 3% 9-month CD continues.

Pacific Transportation FCU is offering two hot rates for its certificate and IRA promo specials. One is a 5-year CD with a 5.00% APY and a $5K minimum deposit, and the other one is a 9-month CD with a 3.00% APY and a $3,000 minimum deposit. These rates are listed in the credit union's rate table as of the morning of 4/24/09. The credit union also has a promo page for these CDs with a little more info. New money is required.

Membership is open to employees of several businesses and members of a few organizations. One organization is the Pasadena Model Railroad Club in which anyone can join. For full details of credit union membership, please see the Who Can Join page. At the bottom of this page, the following is stated:
PTFCU and Pasadena Model Railroad have formed a relationship to better service our members. Now anyone can join the Credit Union through the Pasadena Model Railroad Club. Just stop by one of our branches to complete an application, pick one up or you may download the application from our website. We welcome all of you to become a member.

Membership requires a $10 minimum deposit into the Prime Share savings account.

Branches are located in Gardena, Colton, Monrovia and Long Beach, CA.

The credit union has fair ratings for safety and soundness: 4 stars (excellent) at BauerFinancial and 3 stars (performing) at Bankrate. Both ratings are based on 12/31/08 financial data. The credit union is federally insured by the NCUA (Charter # 3378).

Thanks to the reader who emailed me info on this credit union.

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.

Related Pages: CD rates, IRA rates

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Saf Stern
Saf Stern (anonymous)   |     |   Comment #1
The 5-year CD no longer seems to be available - too bad as it was a very nice one.
Anonymous   |     |   Comment #2
5 year cd no longer available, too bad is right.
Anonymous   |     |   Comment #3
I called and sent an online membership to join on 4/24/09. The first day it became available. That was friday. They were closed Saturday and Sunday.

Today Monday 4/27/09 I was told to send them the checks made out to Pacific Transportation FCU. What if I had followed their instructions. The 5% -5 year promotion has ended which is the time frame I wanted. They would have had all my funds with their name on the checks.

They were overwhelmed with customers all over the U.S.

This is one of the reasons I like to go into the institution and know my funds aren't in limbo.

Maybe they will accept those who sent in their membership applications. But, I doubt it.
Anonymous   |     |   Comment #4
Does anyone know if the $1000 min. in a checking account was on the promo page back on 4/24 (Friday)? I don't remember seeing that. However, now, I do.
Anonymous   |     |   Comment #5
opened an 5 yr. 5%apy with them on monday morning. they said the phones have been ringing off the hook,from people all over the U.S. Nothing on a checking acct req'd. It appears they withdrew the 5 year, that afternoon. Appeared to be a low volume CU.
Anonymous   |     |   Comment #6
Yes, I too opened a 5 year CD PRIOR to it being yanked. I mean, I just got in "as the door was slamming shut"--figuratively speaking of course.

Process was painless. And yes, I too heard about how they were overwhelmed with the inquiries.

Seems to be a fairly simple credit union. Too bad they didn't hold the 5 year up for longer. I probably could have used another one of those in a little while.
Anonymous   |     |   Comment #7
I had e-mailed all the necessary information in on Friday, and they called me on Monday AM. I had run up to my bank to make sure I had the appropriate funds in case they wold allow an electronic transfer. You guessed it......they called during the twenty minutes I was away. They left a message for me to call back, but I could never get through. "Missed it by that much".
Anonymous   |     |   Comment #8
Are you serious? They were easy to get a hold of. I never had a problem getting a hold of anyone. I wonder what number you were dialing.
Anonymous   |     |   Comment #9
Was posted on this site Friday, that day I called with no problems. Monday their phones were History! Actually the offer had been in place since the 2nd week of April.
Anonymous   |     |   Comment #10
"but I could never get through. "Missed it by that much"."

"I wonder what number you were dialing."

The number that was left on my recording was 424-233-3000, and I was told to call Yanni back. I called within 20 minutes of the message, and was connected to their generic voice mail, as their message said "we are busy with other customers, please leave a message, etc" (Yanni had left no extension). I left my name, that I was returning Yanni's call and the reason for the call, and my number and that I would be waiting for the call. Called several more times during the day with the same results. Finally called their 866 number around 3:15 California time, got a real person, and was told that Yanni had already left and that the 5% CD was no longer being offered. Called Yanni's direct extension right at their opening time (8:30 AM) Tuesday AM (the person who I spoke to Monday afternoon reluctantly gave me Yanni's extension), and got her voice mail, saying who I was, why I was calling, that I would be waiting, etc. Called twice more, same results. No call back, no CD. Just the one call from them telling me to call them back, which I could never get back through to.

As much as I love Bank Deals, and have done quite well with it, I think this is a harbinger of things to come. After the article in the WSJ (?), I believe any deal like this from now on announced here is going to be extremely difficult for many folks to get. This CU was apparently tsunami'd with calls.
Anonymous   |     |   Comment #11

When you tried calling back on Monday, you should have asked to speak with the branch manager and should have tried to call one of their other branches, if you had to.

Where there is a will, there's a way. Early bird gets the worm. Squeaky wheel gets the grease. Cliche, Cliche, Cliche.
Anonymous   |     |   Comment #12
"When you tried calling back on Monday, you should have asked to speak with the branch manager"

Well, that was the problem...the number left on my machine for me to call back repeatedly went to a generic voice mail.....there never was a chance to speak to a human....I had no extension number.

"and should have tried to call one of their other branches, if you had to.

Where there is a will, there's a way. Early bird gets the worm. Squeaky wheel gets the grease. Cliche, Cliche, Cliche."

Yeah, on this I have to agree. And this I did, by calling the 866 number, but it was too late in the day....CD was already kaput. Had the bulb in my brain gone off sooner, then I probably would've been nice and greasy as we speak!
Anonymous   |     |   Comment #13
Well, as of the latest check of their CD promo page, the 4% - 4 Year CD appears to be HISTORY!!!

So, now that leaves 3 Years @ 3% or 9months @ 3%.
Anonymous   |     |   Comment #14
I had the same problem last year with this credit union. I tried to join, right after seeing the cd available. Went through the process as fast as was possible with their procedures. When I called them to find out about the opening of cd (I mailed a check to them one week prior to the call) they told me I was too late for the good cd, but, some other lower interest cd was available. I tried to get them to consider my postmark, and the representative just flatly said no way. I advised them to close the account. I have opened approximately 30 bank accounts over the last 4 years (thanks banking guy). This credit union ranks at the bottom of the stack in my mind.
Anonymous   |     |   Comment #15
Re: the post directly above.....a little misery loves company I guess. I'm the one who(m?) they called and left a call back message with no extension, and when I called within 20 minutes exactly how I was instructed, nothing but frustration.

It's not so much I missed the opportunity (though I've lamented this more than I should this week), it's the fact that I did what I could rather rapidly, they bothered to call me, and then when I called back within minutes, no procedures in place for me to connect.....as I said, frustration.

But I as well owe Bank Guy a massive thanks for the last few years!!! This is the only one I've come away from questioning how it went down.

Now, on to a good weekend!
Anonymous   |     |   Comment #16
I recently opened the 9 month 3% CD. Yaney handled my application in a timely and professional manner. Guess there wasn't as much demand for this CD. One thing I noticed in the Certificate Agreement that I never noticed on any other Certificate or CD: "Federal regulations prohibit the payment of dividends in excess of available earnings. Dividends will be paid at the specified rate only in the event there are sufficient earning available for the dividend period." That's a scary statement. Anyone else ever encounter it?