Utilities Employees Credit Union, based out of Pennsylvania, is an SEG (select employee group) based credit union which is currently providing some phenomenal CD rates, money market rates and checking rates to it’s members.
Thanks to BankVibe reader Jamie for giving us the heads up on these rates! Below are some of their noteworthy products compared to the current national averages.
They have a 6 month CD yielding between 1.75% APY and 2.25% APY depending on your deposit amount. The rates are set up in tiers based on the amount in which you can invest. If you invest between $500 (minimum deposit required) and $9,999 you will receive a yield of 1.75% APY. If you invest between $10k and $74,999 you will earn 2.05% APY and if you deposit $75,000 or more you will earn an unheard of 2.25% APY on this 6 month certificate of deposit!
Other UECU products which are smashing the national averages…
12 month CD yielding between 1.85% APY and 2.35% APY depending on deposit amount.
2 year CD yielding between 2.05% APY and 2.55% APY depending on deposit amount.
3 year CD yielding between 2.25% APY and 2.75% APY depending on deposit amount.
4 year CD yielding between 2.50% APY and 3.00% APY depending on deposit amount.
5 year CD yielding between 2.75% APY and 3.25% APY depending on deposit amount.
The current national average for 6 month CDs is 1.05% APY, 12 month CDs is 1.51% APY, and 3 year CDs is 2.14% APY.
They also have an “Advantage Money Market Checking Account” yielding 1.0% APY for balances between $1.00 and $9,999, 1.75% APY for balances between $10k and $49,999, and a solid 2.50% APY for balances of $50k and above. The national average for money market rates sits at 0.93% APY.
Who exactly is eligible for membership?
Regular employees, temporary or contract employees, retirees of UECU’s sponsor companies and their subsidiaries. Family members of the above are also eligible. Family members include: spouse, domestic partner, children and step-children, grandchildren, parents and step-parents, and siblings.