5 month CD special yielding rate of 5.0% APY!
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Wow! You don’t see this very often these days, thanks to BankVibe reader Tim for sending it in!
Point Breeze Credit Union out of Maryland is offering a fantastic deal for new money (aka new members) to entice them in to their institution. Currently, when you bring $2,500 in as a new customer they will grant you a 5 month certificate of deposit yielding 5.0% APY. The interest rate on this CD hardly beats their loan rates which hoover between 4.50% to 6.50% APR.
Here is the catch. First, you must become a member and as you may already know with credit unions this can be particularly tough. To become a member of Point Breeze you must work for one of their participating companies which are situated within 20 miles of one of their branches. There are a total of 700 participating companies in Maryland, Baltimore and Hartford counties. See their membership page for further details.
Second, the maximum deposit and minimum deposit are the same. You may only invest $2,500, no more no less. The interest rate is fixed at 5% once you open the account, however this is a promotional offer and is subject to change without notice.
You may want to compare local CD rates in Maryland or take a look at CD rates available nationwide.
