R.I.A Federal Credit Union has some competitive CD and IRA rates. The best ones include a 3.03% APY 5-year CD and a 2.32% APY 3-year CD. Minimum deposit is $1,000 for the 5-year and $500 for the shorter terms. You may be able to get an extra 25 basis points. This is mentioned at the bottom of the rate tables. These rates are listed in the credit union's rate page as of 11/18/2010.
As a comparison to internet banks as of 11/18/2010, the best 5-year CD rate is 2.60% APY at Acacia Federal Savings Bank, and the best 3-year CD rate is 2.05% APY at Bank of Internet USA. For credit unions with easy membership, the best 5-year and 3-year CD rates are 3.03% APY and 2.27% APY at Melrose Credit Union.
The credit union also offers a high-yield reward checking account (see review).
Credit union membership is open to those who live or work in Scott, Muscatine, Rock Island and surrounding counties in Iowa and Illinois. Also eligible are those who live or work in Monroe and parts of Juneau counties in Wisconsin. Please refer to the credit union's membership section for the full details. Membership requires a minimum balance of $5 in the share savings account.
Branches are located in the Illinois cities of Rock Island, Moline, Milan and Savanna, in the Iowa cities of Betterndorf, Wilton and Davenport, and in the Wisconsin cities of Fort McCoy and Tomah.
The credit union is federally insured by the NCUA (Charter # 17117).
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.