We just got word on some excellent 6 month CD rates coming from an extremely small credit union (977 members) in New Mexico. Currently Quay Schools Federal Credit Union of Tucumcari, NM, is offering six month CD’s yielding an APY of 1.26% requiring a minimum deposit of $10,000. This rate is more than double the current national average for 6 month CDs which sits at around 0.48% APY.
Here are some more interesting facts about this tiny, exclusive credit union:
- They have just 3 full time employees. That equates to 1 full time employee for every 326 members. Ironically, they may actually be overstaffed considering the national average is 455 members to 1 full time employee for credit unions nationwide.
- They control only $4 million in assets. That’s one employee for every $1.33 million in assets.
Other noteworthy CD Rates offered in New Mexico:
(Interest rates accurate as of October 2011. Visit our CD rates center for updated offers.)
- Everyone’s Federal Credit Union, also based out of Tucumcari, has a 6 month CD yielding 1.243% APY with a minimum deposit requirement of $10,000.
- Eddy Federal Credit Union based out of Carlbad, NM, has a 6 month CD yielding 1.05% APY requiring a minimum deposit of at least $5,000.
Live in New Mexico and know of a better short term CD rate offered through your local banking institution? Let us know about it by leaving a comment!