The Digital Credit Union offers very attractive cd rates for their 9-month certificate of deposit special earning 2.00% APY. The regular CD can be availed for a minimum funding of $500.

The top cd rate can also be enjoyed as an IRA. The best cd rate is also offered for a jumbo certificate of deposit special for an initial deposit of $25,000.

These best cd rates are posted on the credit union’s website as of October 1. The current cd rates may change any time but the interest rate in effect upon opening will be retained through the term of the CD. The earnings are compounded on a daily basis and credited to your account every month.

It has been a while since Digital Credit Union offered an attractive cd deal. The credit union though has a history of offering competitive interest rates before the recession struck.

Membership to the union is also very easy. You can sign up for associations which can help you qualify for membership to Digital. You can visit their website to see the list of affiliated groups. One of the cheapest sign up will be through Reach Out for Schools which requires a $10 membership fee.

You can also be automatically eligible to be a member if you live, study, worship, or work in parts of Massachusetts and Georgia.

There is an online form which can be used by interested individuals. The credit union will require those who sign up online to send in a $5 check for membership plus the fee for the association you joined to qualify for the credit union. They will also require a photocopy of your passport or your driver’s license as proof of identity. If you will have a joint owner of the account, you must also include an ID of that individual.

We received some reports that Digital Credit Union performs a hard credit inquiry upon joining them. One account holder also shared that his credit score got a ding after a hard credit inquiry was done when he opened another account with the union. Be careful and ask them first if you are trying to be extra careful with your credit score.

The credit union operates offices across Massachusetts and in Alpharetta, Georgia; Colorado Springs, Colorado; Nashua, Merrimack, and Hudson in New Hampshire.

Bankrate.com and BauerFinancial issued 3 stars when they reviewed the credit union’s performance using their June 2009 data. Digital Credit Union is a large organization with about 376,824 members and declared assets of around $4.2 billion. It is covered by the NCUA through charter number 23521.