SALT LAKE CITY -- Utah Central Credit Union wants to give members an alternative to Wall Street by offering a seven-month CD at 3.77% annual percentage yield.

Utah Central President Brett Blackburn, said the offer was partially spurred by the beating investors were taking on Wall Street, but also represents Utah Central's continuing effort to present attractive financial options.

"We pride ourselves in keeping our products competitive, and, in light of the downturn in the stock market, wanted to give investors a safe place to grow their money," said Blackburn.

A minimum of $500 is required to open the CD and UCCU is also offering to boost existing CDs an additional 27 basis points for those who open a checking account with a VISA eebit card, transfer a loan balance of $5,000 or more to one of the credit union's competitive-rate VISA cards or get a loan for $5,000 or more.