5 day CD rate promotion with a 4.25% APY. Weird.
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Sorry to get your hopes up with this headline, this 4.25% CD is not actually available… and to be honest, I am not sure it ever was. I recently stumbled upon a CD rate promo page by the following credit union and found it rather intriguing. Red Canoe Credit Union out of Washington state was at least mildly attempting to advertise a 4.25% NCAU insured certificate of deposit through their website last month. Here is the weird part – it seems there was only a 5 day window in which you could apply.
I have contacted Red Canoe Credit Union about this rate to see if it ever was available last month from the advertised dates of February 23 – February 27. Something tells me it wasn’t. It almost looks as if they began to start a CD rate promo page and decided not to pursue it, but until I hear back I have no official answer.
Also, it appears there was no duration of time or maturity for this certificate of deposit, however they did specify you need at least $500 to deposit.
Looking through their CD rate page I found nothing close to the yields of their promotional rate.
CD Rates through Red Canoe Credit Union
Three to five month certificate of deposit yielding 1.93% APY. Six to eleven month CD rates yielding 2.40% APY. Twelve to seventeen month (flex CD) yielding 2.50% APY. Eighteen to twenty-three month CD rates yielding 2.84% APY and forty-eight to sixty month CD rates yielding 3.74% APY. The previous rates are good as of 2/11/2009 and all require a $500 minimum balance.
