SECU (Maryland) credit union is offering a CD promotion similar to the one they had last year. This time they’re calling it the Giving Thanks CD. It has a 7 month term with a 5.00% APY. There is an additional bonus dividend of 2.50% of the initial deposit which they will credit directly into the CD upon opening. This will result in an effective yield of approximately 9.36%. The credit union has a limited field of membership but does allow out of state applicants. Membership requires at least $10 in the share account. If you can finagle membership to SECU, this is a great deal.

Example: $100K CD will earn approximately $5460 after 7 months
($2960 interest + $2500 bonus = $5460)

- ‘new’money required
- can only be opened in branch or by mail (applications can be downloaded from website)
- initial funding by check only
- POD available
- $2K minimum
- $200K maximum
- interest compounded and credited quarterly
- must elect interest payment options at account opening
- seven day grace period
- interest will not be paid on funds withdrawn during grace period
- three months interest early withdrawal penalty
- NCUA insured
- promotion is scheduled for September 29, 2007 – November 30, 2007
-“Offer subject to availability and may be withdrawn at any time.”

secumd.org
field of membership
last year's thread

Just a suggestion, but you may want to add Maryland area to your title.

largeeyes said:Just a suggestion, but you may want to add Maryland area to your title.
Okay.

I don't get it. I thought all CD's were for a fixed rate for a fixed deposit amount. Why don't they just post the effective yield of the CD with interest reinvested?

nice, my dad is University of Maryland alumni, so I can join =)

mnsweeps said:i badly need membership in this cu but not eligible.Read the old thread. I believe you will see people joining UofM alumnui association and backdooring their way into the credit union.

scotto777 said:Did you see this in a branch or online? I dont see this online and my CD from last year is set to expire in less than a month and this could be an excellent option. Thanks.

start 9/29

Anyone tried becoming a member online https://www.secumd.org/html/secu/lower.htm?page=apps.membership and select Alumnus of or Student?

Am I the only one who's suddenly considering registering for an online-only course at a community college in Maryland?

Thanks OP (might have to UN-Cancel my AOR.... was going to wait a bit, but with a deal like this!?!?!)...