Mutual Savings CU Offers Rare 7% CDs

BIRMINGHAM, Ala. — To celebrate its 70th anniversary, Mutual Savings Credit Union offered its members two 7% certificate of deposit specials. From July 17 through July 25, members of the $157 million credit union were offered a 7% CD with a seven month term and another 7% CD for 12 months. With the seven-month CD, the minimum deposit was $1,000 and members were allowed to contribute as much as they wished beyond that. The 12-month CD had a minimum deposit of $1,000 and a maximum deposit of $2,000. "Turnout for these CDs was unbelievable," said Brandy Motes, marketing specialist, Mutual Savings CU. "It renewed interest in the credit union and all of the services we now offer. Because of easy access to their accounts online, this was a great way for us to get to see our members." Originally created in 1936 to serve employees of U.S. Steel's Fairfield Works, Mutual Savings Credit Union serves nearly 30,000 members.