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Savers Flock to Meriwest CU's 7.5% One-Year CD

SAN JOSE, Calif. -- On the advice of several financial and rate tracking sites, savers recently flocked to Meriwest Credit Union to get a hold of its one-year, 7.5% certificate of deposit.

By Michelle A. Samaad | Updated on June 04, 2008

SAN JOSE, Calif. — On the advice of several financial and rate tracking sites, savers recently flocked to Meriwest Credit Union to get a hold of its one-year, 7.5% certificate of deposit.

The $1.3 billion credit union offered the CD between April 15 and May 31 and as a result, signed on 407 new members, said Greg Meyer, community relations manager. A minimum and maximum of $1,000 was required for the CD as well as opening a new checking account. The promotion brought in $407,000 over a six week period.

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