I last reviewed Credit Union West in May because of its reward checking account. I just noticed another noteworthy thing about this credit union. It’s offering very competitive 5-year CDs and IRA CDs. The best deal is the 5-year Jumbo IRA CD which has a 2.20% APY. Minimum deposit is $50,000. For a $10,000 minimum, the APY is 2.15%. The regular CD rates are a little lower, but they’re still competitive. For a $50,000 minimum, the APY is 1.95% and for a $10,000 minimum, the APY is 1.90%. The rates and the CD disclosure are listed in the credit union’s share rates schedule as of 6/20/2013. According to the disclosure, the certificate account’s early withdrawal penalty is 180 days of dividends on the amount withdrawn.
Credit Union Membership
Membership is open to all who live, work or worship in Arizona’s Maricopa and Yavapai counties. Please refer to the credit union’s About Us page for more details.
Credit Union Overview
Credit Union West branches are located in Phoenix and in the Phoenix suburbs. There are also branches in Prescott and Cottonwood, AZ.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 0.97% (excellent) based on March 2013 data. Please refer to our financial summary of Credit Union West for more details. The credit union is federally insured by the NCUA (Charter # 68421).
How These CDs and IRA CDs Compare
The best 5-year CD or IRA CD rate that’s available nationwide without a checking requirement is 1.91% APY at Andrews Federal Credit Union. The best rate at a bank is 1.76% APY at EverBank. These rates are accurate as of 6/20/2013.