2.00% APY high yield savings account with Downey Federal Credit Union
Downey Federal Credit Union headquartered in California offers attractive interest rates for its high interest savings account called Summer Survival Account. This savings account can earn as high as 2.00% APY with dividends paid every quarter. This is a local deal in the market area of the credit union.
The website does not say much about the savings account but basically this aims to help consumers save for future purchases or other financial goals. Take note though that their interest rate table is dated January 2011 so be sure to check if these numbers are still in effect before signing up for this money in the bank opportunity.
You may also want to ask the cost you have to shoulder if you make any withdrawals prior to maturity. The sidenote on the rates table says that you will not be able to receive the accrued earnings in case you decide to close the account before the dividends are credited.
Downey Federal Credit Union welcomes individuals wo live, worship, work or study in the city of Downey in California. The membership to the organization is for life even if you transfer to another work or moved to another location.
Downey FCU is insured by the NCUA and is also covered by the American Share Insurance.
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