Thursday, January 03, 2008

Pacific Service Credit Union 7 for 11 Share Certificate Update

Pacific Service Credit Union continues to offer their "7 for 11" share certificate promotion. I orginally posted about this certificate back in last September. When you open a regular share certificate with a minimum deposit of $40,000 or more and a term of 12 months or longer, you can open up an 11 month share certificate with a yield of 7.00% apy on the first $10,000. The funds for this offer must come from money new to the credit union. At current rates, the best way to maximize the overall yield on this offer is to put in $10,000 into the 11 month 7.00% apy share certificate and $40,000 in the a 12 month share certificate. Their 12 month share certificate currently yields 4.75% apy. See site for more information.

Field of membership for Pacific Service Credit Union includes employees and retirees of PG&E Corporation and its domestic subsidiaries as well as "anyone who lives, works, attends school, or worships in Alameda, Contra Costa, Fresno, Marin, Napa, Placer, Sacramento, San Francisco, San Mateo, Santa Clara, Solano or Sonoma counties". Membership is also open to a variety of other groups and individuals. See site for details.


At 10:11 AM, Anonymous Possum said...

I opened an account yesterday, and a few details you should be aware of:

(1) You need to deposit $60,000 total to enjoy the 4.75% APY. If you only deposit $50,000, you get 4.60% APY on $40,000 and 7.01% APY on $10,000. For those depositing $60,000 total, the total APY you're receiving on all your deposits is approx. 5.10%. If you do $50,000 total, it drops to 5.04% overall.

(2) While there, they told me about a special kicker they're offering new members... a 6 month CD that also pays 7.00%, but only for $5,000 max. You can open this anytime during the first thirty days (or even open it as your only account), to boost the APY of the 7 for 11 share certificate deal.

(3) If you do the application online, they even give you the $5 savings account deposit for free. Sweet.

The folks at the San Francisco branch were nice and friendly.


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