SAN DIEGO – When it comes to certificates of deposits, USE Credit Union is offering one of the best deals in the nation with its 18-month offer, according to Bankrate.com, the credit union reported.
As of July 6, the $750 million credit union's 18-month CD carries a 6.00% annual percentage yield and requires a $2,500 deposit of "new money" to open. New money is defined as money from a non-USE CU source including funds from another financial institution, tax refund, and insurance payments. If the investor does not have new money, he or she can refer a new member to USE who can open the 7.00% APY "anniversary term investment" with new funds.
The CU is celebrating its 70th anniversary this year. Certificate of deposit holders must deposit a minimum of $100 in a USE checking account and $5 in an ownership share account. USE's 18-month CD also has an add-on feature, allowing members to make additional deposits of $1,000 or more before maturity.
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