Patelco Credit Union with Yields up to 8.00%, Federally Insured as of January 1st

Patelco Credit Union is federally insured by the NCUA as of January 1st. The credit union was previously insured by ASI. I was wondering if the change in insurance would affect their rate offerings, but they continue to offer a number of accounts with attractive yields. They have been offering 5.50% apy on a 9 month share certificate since July. This yield is good for both regular and IRA share certificates. Regular share certificates have a $1,000 minimum deposit requirement, IRA share certificates require $500.

The credit union also is offering 5.00% apy on IRA share certificates with terms of 12-23 months and on regular and IRA share certificates with terms of 48-60 months. They are also offering 5.25% apy on IRA share certificates with maturities ranging from 24 to 35 months.

Patelco Credit Union also continues to offer a 7.00% apy new member special with a $1,000 min/max deposit requirement. I originally posted on this back in June.

For those 21 and under, Patelco offers 8.00% apy on the first $1,000 in their "gr8 r8" youth share savings account through 12/31/2008. I posted on this account back in August.

Field of membership in Patelco Credit Union is open to a wide variety of groups and organizations. Anyone who isn't otherwise eligible for membership can become eligible by joining the California Association for Older Americans which is open to anyone regardless of age or geographic location. Simply indicate California Association for Older Americans on your application for Patelco credit union membership.