City County Credit Union – IRA Special – Limited Membership

May 15th, 2012

City County CD Rates Image

One of our readers alerted us to a special 1-year IRA CD at City County Credit Union. However, it is limited primarily to some counties in Florida. If you are in the vicinity, take a look.

Their official name is City County CU of Ft. Lauderdale. The two basic criteria for membership are:

  • Anyone who lives or works in Broward, Palm Beach, Miami-Dade, Brevard, Charlotte, Collier, DeSoto, Glades, Hardee, Hendry, Highlands, Indian River, Lake, Lee, Manatee, Marion, Martin, Monroe, Okeechobee, Orange, Osceola, Polk, Sarasota, Seminole, St. Lucie or Volusia County, Florida
  • Licensed professionals and their employees

I sent an email for clarification on the 2nd option. But I’m guessing it is law related by looking through some of the select employee groups.

Their CD rates are competitive and they do give a little bump on the rates for $50,000 or more. However, the 1-year IRA special really stood out at a 1.25% APY. But it has to be from new money and be $10,000 or more. They have a 5-year CD at 2.05%.

NCUA#61525
Stats Updated:12/11
Star Rating:****
Assets:$320.2MM
Equity:$37.9MM
Capital Ratio:11.83%
Profits(loss):$942.9K
 
Phone#:(954)745-2400
Address:1982 N State Road 7
Margate, FL 33063
Website:https://www.citycountycu.org/asp/services/service_1_5.asp
Penalty:6-months loss of interest for CDs greater than 1-year

One thing of interest in the disclosures is that “deposits can be made to a certificate any time during the term and will not change the interest rate or maturity date of the account.” This is pretty rare with CDs and with a special like that for the IRA, could come in pretty handy.

So if you are in their area, check them out. Happy CD Hunting. cd :O)

-- By +Chris Duncan

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