LOS ANGELES–Indicative of just how quickly markets can change is the number of credit unions looking for deposits this holiday season versus one year ago.
CUs across the country are dangling a variety of attractive rates as they seek stable certificates funds.
Among those CUs is First Entertainment Credit Union, which is offering a 15-month Special Term Savings Certificate paying a 5% APY. A minimum deposit of $5,000 is required to open the account, with the credit union saying a maximum of $5 million per member may be invested in the product, which is open to new money only.
“In response to rising costs, many people are looking for ways to increase their hard-earned savings,” said Addie Allison, senior vice president and chief experience officer. “We’ve always been a leader in providing exceptional products for members of the entertainment community, but we take special pride in what we’re doing with this new 15-month certificate. We’re offering one of the best rates available today so our members can get the most for their money.”
Other CU Offers
Among the other offers that have been in the market recently:
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In Baltimore, Securityplus Federal Credit Union has introduced a 23-month share certificate paying 4.85% APY. The account is for new money only and has a $10,000 minimum. "After years with a low-interest rate environment, we're thrilled to offer consumers a safe place to earn a high yield on their savings," stated Brian Holloway, chief marketing officer.
- In Concord, Calif., Pacific Service CU has been offering a 3.65% APY, 18-month certificate.
- In Los Angeles, First Entertainment CU is offering a nine-month certificate priced at 2.9% and an 18-month certificate priced at 4% APY. “In today's economic climate, people want to make sure that the money they save is working as hard as they are,” Addie Allison, SVP/chief experience officer said in a statement. “We’re always looking for ways to provide added value for our members and with rates significantly higher than the average 18-month rate in California, this is another great example.
- Cascade FCU has been offering a 32-month certificate with a 3.65% APY and a minimum of $1,000 to open.
- Alliance CU is offering a one-year CD with a 3.25% APY and a one year-minimum.
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