2.75% APY Certificate of Deposit at EECU offered to Texas

August 14th, 2010 Jonathan Chamberlain Leave a comment Go to comments

While the CD rates aren’t exactly spectacular, the long term CDs offered at EEECU for Texas is pretty competitive. Their five- year (60 month) CD earns up to 2.75% APY, and their four-year (48 month) CD earns up to 2.35% APY. If these rates stay there for a long time, it’ll mean good news for the credit union’s members.

Of course, even the highest CD rates in the market tend to fall without warning, so it’s always advisable to check the website first for updates. You wouldn’t want to sign up for anything lower than that. The good news is, the CU is limiting this account’s availability to Texas. Local CD rates generally tend to be more stable than those which are offered nationwide.

These rates experienced a significant drop since last week, so it’s really wise for applicants to check for rate updates. According to the website, the minimum deposit requirement for this account is only $1000. The Jumbo rates aren’t as competitive, hiking up the yield by only 0.10% APY for both accounts. The minimum deposit accounts for the Jumbo CDs are also steep at $50,000.

The credit union opens its doors to any individual who works or lives in Parker, Johnson, Tarant, Hood, or Palo Pinto. To become a member, you have to open a savings account with them and maintain at least $5 in it. The credit union’s website has a list of the membership details. You may want to look at it first before visiting any of their local branches.

Branches of the credit union can be found in numerous cities in Texas as well as Arlington, Fort Worth, Saginaw, and Burleson. Just in case you’re worried about the falling rates and you think the CU might be a bit unstable, it’s time to shake off your doubts.

They actually scored quite well in terms of financial health and stability. BauerFinancial.com gave the credit union a perfect five out of five stars for this category, while Bankrate.com gave them a rate four out of five rating. EECU is insured under NCUA Charter # 67928. Presently, they hold $1.09 billion worth of assets.

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