Washington State's Lower Valley Credit Union (LVCU) has recently raised the rates to competitive levels on two of its CDs : the 3-Year CD (1.81% APY) and the 5-Year CD (2.27% APY). The 2-Year CD's rate was also raised (1.16% APY), but the rate is not as attractive. The CDs are also available as IRAs and require an initial $500 minimum deposit. Opening a CD with Lower Valley Credit Union requires a visit to a branch office.
|1.50%||$500||-||Lower Valley Credit Union||60 Month Share Certificate|
|1.10%||$500||-||Lower Valley Credit Union||36 Month Share Certificate|
|0.70%||$500||-||Lower Valley Credit Union||24 Month Share Certificate|
Membership in Lower Valley Credit Union is limited, but only to all residents of Washington State, as demonstrated by the following quote from LVCU's website.
Membership in Lower Valley Credit Union is open to all who live, work, worship, or go to school within a school district located in the State of Washington. Membership also includes relatives of those listed above.
Membership applications can be downloaded from LVCU's website or obtained in person at any of the 3 branches located in Sunnyside, Prosser, and Grandview. A minimum deposit of $50 into a share savings account is required for membership. (N.B. I attempted to download a membership application and was greeted with a warning that the site's security certificate had expired and not to proceed further. I contacted LVCU to let them know of this problem, so it can be resolved quickly.)
Credit Union Overview
Lower Valley Credit Union (NCUA Charter # 68304) has an overall B+ rating on DA, with a Texas ratio of 2.78% (excellent) based on March 31, 2014 data. With assets of $64.33 Million and $7.66 Million in equity, LVCA's capitalization level is 11.91% (excellent). Please refer to our financial overview of Lower Valley Credit Union for more details.
Lower Valley Credit Union began in 1952 in the basement of a local Catholic Church. With 25 original charter members depositing $5 each, the credit union was aptly named, "Catholic Credit Union." In 1952, the State of Washington had only 2 Catholic Dioceses (Seattle and Spokane), but a new diocese was formed in 1958 in Yakima. This resulted in a ruling that allowed for only one credit union within the same diocese. Consequently, the existing credit union in Yakima retained the Catholic Credit Union name, and through re-incorporation, the Lower Valley Credit Union was established.
How These CD Rates Compare
When compared to similar locally available products, Lower Valley Credit Union's 3- Year and 5-Year CDs rank within the top 10 of accounts tracked by DA.
The above rates are accurate as of 7/31/2014.
Searching for Top CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.