5 month CD, 5.0% APY with a $500 minimum deposit!
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It’s called the 5-5-5 promotion and it’s being offered through People’s Trust Financial Credit Union. Generally with credit unions, either you’re eligible to join or not, and there’s not much middle ground. However People’s Trust FCU out of Houston, Texas, is allowing anyone to join with a mere $5.00 donation to their foundation (no, this is not part of the 5-5-5 promotion, just happens to be a coincidence).
Recently we did a report on the best money market accounts in Texas and BankVibe reader Doug posted this amazing deal in the comments section. Thanks Doug!
Here’s the scoop…
Watch your money grow with a 5-5-5 Term Share Certificate. The 5-5-5 certificate offers a 5-month term, 5.00% APY, and a $500 minimum deposit. This account also allows deposits in $5 increments up to the maximum account balance of $5,000. Make a new deposit to the account as often as you like throughout the five month term.
So I guess the only downside to this promotion is that you can only invest $5000, however this is a great opportunity for first time savers or anyone looking for a high yield on their hard earned cash!
September 5th, 2009 at 3:01 pm
Can you reinvest into the same account when the 5 month term is up?
December 18th, 2009 at 10:08 am
As of 12/16/09, the 5-5-5 is no longer available.