Mercury S&L;’s ‘Pennant Fever’ Promotion : New CD Is Tied to Angels’ Success

Mercury Savings & Loan wants Orange County to catch pennant fever--as in its new “Pennant Fever CD.”

A special certificate-of-deposit promotion, which the Huntington Beach-based S&L; will introduce Monday, will pay higher interest rates depending on the success of the California Angels.

The Angels are currently battling for first place in the American League West.

“With the Angels being a hot item, we thought that maybe a savings account tied to their success could create some fun,” said William Shane, Mercury’s manager of savings and marketing.

To participate in the Pennant Fever CD promotion, depositors must put at least $5,000 into a three-month CD before the division race is decided. Depositors will earn 8.4% interest.

The CD comes with a three-month renewal option, which is how depositors could make more money if the Angels keep winning.

The rate on the three-month renewal will be 8.65% if the Angels take their division, 8.9% if the team wins the American League pennant, or 9.15% if they capture the World Series.

So-called “sports CDs” are not new. Skokie Federal Savings in suburban Chicago was one of the first to use the product, offering a “Super Bowl CD” with an interest rate tied to the Chicago Bears’ margin of victory in the 1986 Super Bowl. When the Bears beat the New England Patriots 46-10, the S&L; paid out an additional $54,000 in interest on one-year CDs but attracted $14 million in new deposits.

Shane said it was a bit difficult for him to plan Mercury’s promotion. He’s a dyed-in-the-wool Los Angeles Dodgers fan.