bank rates

Wescom Credit Union CD Rates


Banks are commercial organizations operated for potential gains and profits. Banks do not offer lucrative dividend rates on deposits. Even the loans are offered at high interest rates. So Credit Unions were found as an alternative to banks. It is managed and operated by a board of directors meant primarily for the benefit of its members. One of the largest credit unions named Wescom Credit Union was formed in 1934, by 13 individuals with $65. Now it has 300,000 members with $3.9 billion in its assets and 51 branches.
It’s a non-profit financial cooperative where its Members are its Owners. All the excess earnings benefit its members and not only shareholders. It offers higher savings yields on deposits. The dividend rates on certificates as explained below highlight this feature:

– With a minimum balance of $500 deposited for 30 to 89 days you get a dividend rate of 2.71% with an APY of 2.75%.
– With a minimum balance of $500 deposited for 90 to 179 days you get a dividend rate of 4.40% with an APY of 4.50%.
– With a minimum balance of $500 deposited for 180 to 364 days you get a dividend rate of 4.64% with an APY of 4.75%.
– With a minimum balance of $500 deposited for 12 to 17 months you get a dividend rate of 4.64% with an APY of 4.75%.
– With a minimum balance of $500 deposited for 18 to 23 months you get a dividend rate of 4.64% with an APY of 4.75%.
– With a minimum balance of $500 deposited for 24 to 35 months you get a dividend rate of 4.64% with an APY of 4.75%.
– With a minimum balance of $500 deposited for 36 to 47 months you get a dividend rate of 4.64% with an APY of 4.75%.
– With a minimum balance of $500 deposited for 48 to 59 months you get a dividend rate of 4.64% with an APY of 4.75%.
– With a minimum balance of $500 deposited for 60 months you get a dividend rate of 4.64% with an APY of 4.75%.
– With a minimum balance of $500 deposited for 12 to 17 months you get a dividend rate of 4.64% with an APY of 4.75%.
– They have college saver certificates for members of 18 years or younger. With a minimum balance of $250 deposited for 36 months you get a dividend rate of 4.64% having an APY of 4.75%. Additional deposits of at least $25 are welcome!

Wescom Credit Union offers good dividend rates on the Jumbo Certificate Accounts as explained below:

– With a minimum balance of $100,000 deposited for 30 to 89 days you get a dividend rate of 2.81% with an APY of 2.85%.
– With a minimum balance of $100,000 deposited for 90 to 179 days you get a dividend rate of 4.50% with an APY of 4.60%.
– With a minimum balance of $100,000 deposited for 180 to 364 days you get a dividend rate of 4.74% with an APY of 4.85%.

– With a minimum balance of $100,000 deposited for 12 to 17 months you get a dividend rate of 4.74% with an APY of 4.85%.
– With a minimum balance of $100,000 deposited for 18 to 23 months you get a dividend rate of 4.74% with an APY of 4.85%.
– With a minimum balance of $100,000 deposited for 24 to 35 months you get a dividend rate of 4.74% with an APY of 4.85%.
– With a minimum balance of $100,000 deposited for 36 to 47 months you get a dividend rate of 4.74% with an APY of 4.85%.
– With a minimum balance of $100,000 deposited for 48 to 59 months you get a dividend rate of 4.74% with an APY of 4.85%.
– With a minimum balance of $100,000 deposited for 60 months you get a dividend rate of 4.74% with an APY of 4.85%.

There will be a penalty incase of an early withdrawal. All the mentioned rates are applicable as on Nov 14 2007 and are subject to change without notice. Please call at 1-888-4WESCOM for details and current rates. Your savings are federally insured to at least $100,000 and backed by the National Credit Union Administration (NCUA).

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