Dedicated to Deposits: Deals, Data, and Discussion

5.87% 16-Month / 6.37% 60-Month CD at a Maryland CU (MCT)


MCT Federal Credit Union continues to offer very competitive certificates especially for Jumbo CDs with minimum deposits of $50K. The best APY's include a 5.57% 11-month CD, a 5.87% 16-month CD, 6.07% 3-year CD, 6.17% 4-year CD and a 6.37% 5-year CD. The rates for deposits of $1K are about 0.37% under the Jumbo rates except for the 24-month CD which has an APY of 5.60%.

I had first reported on these rates back in early November. A reader mentioned in that post that MCT also has a rewards program in which you can be eligible for an extra 0.50% on the CDs. According to one of the readers, it requires you to have maintained the necessary accounts for at least 30 days before being eligible for the bonus rate.

The field of membership includes students, employees and volunteers in accredited schools in Montgomery County and their families. The FOM also includes a long list of select employee groups and associations. See site for the details.

Branches are located in Silver Spring, Clarkburg, Germantown, Kensington and Rockville, Maryland.

The credit union is federally insured by the NCUA. It has $386.7 million in assets and 58,871 members.

Comment #1 by Banking Guy (anonymous) posted on
Banking Guy
A reader had left the following comment on MCT in another post:

MCT credit union answers emails within a few hours even though they have a long hold time when phoning. I opened a five year jmubo cd at 6.37apy as a member of the National Associion of School Psychologists.