If you're looking to start a CD or IRA CD ladder, there's a good deal at American Airlines Credit Union. It has a CD ladder program with very competitive rates. For a $10,000 minimum deposit, the rates as listed at the credit union's rate sheet as of 6/7/2011 include:
- 3.55% APY 5-year CD
- 3.09% APY 4-year CD
- 2.52% APY 3-year CD
- 2.32% APY 2.5-year CD
- 2.02% APY 2-year CD
- 1.51% APY 1-year CD
These rates require that you meet the CD ladder requirements. One requirement is that you open the short and long-term CDs with equal amounts. There are three ladder options:
- 5-year & 2.5-year CDs
- 3-year, 2-year and 1-year CDs
- 5-year, 4-year, 3-year, 2-year and 1-year CDs
The other requirement is that you let the short-term CDs renew into the longest term CD of the ladder. If you elect not to renew any CD within your ladder the remaining CDs will not be eligible for the ladder rates at maturity.
If you don't want the credit union's CD ladder, they also have competitive standard CD and IRA CD rates. The best rates include a 2.88% APY for 5 years, 2.42% APY for 4 years and 1.96% APY for 3 years. Minimum deposit is $10,000. These rates are listed in the credit union's rates sheet as of 6/7/2011.
Unlike the other major credit unions that started as a service for airline workers (Wings Financial and Alliant), American Airlines Credit Union hasn't expanded its field of membership to include any easy-to-join associations or any community areas. Their membership continues to be open only to those working in the air transportation industry. Please refer to the credit union's eligibility page for the full details.
As you expect from a major airlines credit union, American Airlines Credit Union branches are located in airports of many cities around the country.
Credit Union Overview
With $5.32 billion in assets, it's one of the largest credit unions in the nation. It has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 5.55% (excellent) based on March 2011 data. Please refer to our financial overview of American Airlines Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 23957).
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.