5.38% 60-Month CD at a Utah CU

Family First Federal Credit Union is offering a 5.38% APY 5-year CD. There's a $500 minimum deposit requirement.

One nice thing about this CD is that it only has a 90-day interest penalty for early withdrawal. Certificates with terms over 12-months typcially have penalties of 6 months. This can make a big difference if you have to make an early withdrawal. For example, the effective interest rate at 3 years with an early withdrawal is about 4.93%. If the penalty were 6 months, the effective interest rate would be about 4.48%.

The credit union's field of membership includes anyone who lives, works or attends school in Utah County. Utah County is located 44 miles south of Salt Lake City. The County Seat is the city of Provo.

The credit union has 4 branches and is NCUA insured with over $131M in assets and over 25,000 members.

Nationally Available 5-year CDs

The best nationally available 5-year CD listed at Bankrate.com is 5.15% APY at KeyDirect (available in 37 states). Penfed Credit Union continues to offer a 5.75% APY 5-year CD. It has a $1K minimum and a 180-day interest penalty for early withdrawals. Note, Penfed is available to all. See post.