3.00% APY best interest rate offered by Premier Community Credit Union for their Long-Term Certificate of Deposits
Residents of Northern California who are looking into long term investments can check out the CD and the IRA CD offerings of Premier Community Credit Union . The credit union’s 5-year one alone has an top CD rate through an Annual Percentage Yield of 3.00%.
For those who are pursuing these investments, the credit union requires that one deposits $500 for the Individual Retirement Accounts and $1,000 for the Certificate of Deposits.
For people who want a few features in their investments like an extra account, they can apply for one. This extra account provides members with an APY of 3.00%. Unfortunately, it has a ceiling of $10,000 and members can only have one type of this account.
Aside from that extra service, they are also offering CDs which can be rate adjusted to the newer and competitive APYs and ones which offer the least amount of penalties while remaining liquid. Members will need to be aware that there are some disadvantages to offset the gains. These Certificate of Deposits have lower rates. The ones that go for a period of 5 years have an APY of only 2.50% for the CD which can be upgraded to the latest rates.As for the liquid CD, there are two important things that members need to remember. The first one, there will be penalties incurred if more than half or 50% of the original amount deposited is withdrawn, and second, withdrawals can be made only once in a one year period.
The disadvantages of the more flexible CD can outweigh the advantages since there are more chances to lose interest. Information on the offerings especially the APYs are true as of July 28,2010.
Residents or workers based in San Joaquin County in California can apply for membership of the said credit union. Try visiting one of their branches in these three locales: Stockton, Lodi and Manteca, California.
BauerFinancial gives Premier Community Credit Union 3 stars while Bankrate.com provides it with 3 stars as well. Ratings are dated on information available on March 2010. The Premier Community Credit Union is a member of the NCUA with a Charter number of 64515.
You can be earning hundreds or even thousands of dollars a year in CD investments, money market, and cash back credit cards. Subscribe to our free newsletter below to learn how to maximize your rewards, improve your credit, and make money!
