Tecumseh Federal Bank has a very competitive rate for its two long-term CDs. Its 6-year and 8-year CDs have a 3.03% APY. It's one of the few banks that lists a 6-year CD but no 5-year CD. The shorter terms are not quite as competitive. The 4-year CD has a 1.76% APY and the 30-month CD has a 1.26% APY. Minimum deposit is $500. These rates are listed at the bank's rates sheet as of 1/16/2012. There's an October date at the top of the sheet, so I emailed the bank last week. According to the bank, these rates are up-to-date.
A branch visit is required to open the CD. If you don't mind a long drive, they appear to accept deposits from outside of their market area (Nebraska only). If you are interested in this CD, be sure to call to verify rates and qualifications. These can often change quickly at small banks.
Tecumseh Federal Bank office is located in Tecumseh, Nebraska which is about 40 miles southeast of Lincoln and about 60 miles south of Omaha.
It's a small bank with only $46 million in deposits. The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 9.51% (above average) based on September 2011 data. Please refer to our financial overview of Tecumseh Federal Bank for more details. The bank has been a FDIC member since 1958 (FDIC Certificate # 30395).
How These CD Rates Compare
In today's environment, there are very few CDs with rates at 3.00% or higher. I only have three institutions in my last CD survey with CD yields of at least 3.00%. All are local deals in Texas. You can find others using our CD rate table, but most like Tecumseh Federal Bank are in low populated areas or are at credit unions with very narrow fields of membership. I thought it was worthwhile to post on Tecumseh since people in Lincoln and Omaha can qualify.
If you're not lucky to live near a bank or credit union with these high CD rates, you may have to rely on a bank or credit union that's nationally available. The best long-term CD rate at one of these institutions is 2.75% APY (for a 7-year term) at Pentagon Federal Credit Union.
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.