Texas Credit Union offering 3.15% APY on 12 month CD
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Velocity Credit Union of Texas, is offering a very decent 12 month CD (certificate of deposit) yielding an APY of 3.15%. The minimum deposit required with the certificate is $5,000 and it will be available through the end of this month. Velocity Credit Union will also allow you to use this as a regular CD or an IRA CD.
Velocity Credit Union has fairly strict eligibility terms. To be eligible for the certificate of deposit you must be either A) be related to a member B) reside in Travis County, Texas, Williamson County, Texas, Hayes County, TX, Bastrop County, TX, or Caldwell County, Texas. They also have a list of 250 sponsoring/member companies whom are eligible for their CD rates.
Keep in mind they are also known for running savings account promotions and CD rate promotions which last very briefly. Just earlier this month they had an 18 month CD with a rate of 3.44% APY which could be used as a regular certificate of deposit or an IRA CD (similar to their current offer). That CD rate promotion ended after only 2 weeks. To apply for their current CD offer you must fill out their online application.
