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[Please note: This page is part of the Chicago CD Rates archive. Most of these deals on this page are not current and no longer available. Please check the date of the post before getting too excited and driving to a bank an hour away. If you have any doubts whether the deal is available, contact the bank or credit union. For a list of more current rates, visit our homepage.]
7% and 8% deals (with low maximums) at Patelco CU
Patelco Credit Union has a couple deals with fantastic interest rates, but low maximums, that some of you might find useful. First, Patelco has a 12-month, 7.00% New Member CD. Both the minimum and maximum deposit on this CD is $1000, and the CD is only available to new Patelco members. (And no, you can’t open up more than one.)
Second, Patelco CU has what they call their gr8 r8 Savings Account: A savings account for anyone under the age of 21 that earns 8.00% APY up to $1000. The 8.00% rate will be earned through the end of 2008, at which point the “[a]ccount will transfer to regular share account, effective 01/01/09, and this account will be closed.” Again, only one account per member, but gr8 r8 Savings doesn’t require you being new to Patelco.
Patelco CU is one of the nation’s largest credit unions, and although almost all their branches are in California, they do have one branch in Illinois at 108 Wilmot Rd., Suite 100 in Deerfield (just east of the I-294/Lake Cook Road interchange). Patelco Credit Union is open to everyone through a free membership in the California Association for Older Americans — contact Patelco for details.
(Thanks to reader PG for pointing out this deal.)
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