If a 5-year term is too long for you, a 3-year CD may be a better maturity length. Unfortunately, most 3-year CD rates are under 2.00%. That's not the case with Leominster Credit Union which was one of the very few institutions to raise CD rates in February. Its 3-year CD and IRA CD have a 2.00% APY. Its 5-year CD and IRA CD rate remained the same in February, but they remain competitive with a 2.25% APY. Minimum deposit is $1,000. These rates are listed in the credit union's deposit rates page as of 2/2/2012.
Credit union membership is open to those who live, work, or have business in Worcester, Middlesex, Norfolk, Hampden, Franklin, or Hampshire Counties in Massachusetts. Please refer to the credit union's Membership Eligibility Page for the full details. Membership requires maintaining a minimum $25 in a deposit account.
Leominster Credit Union branches are located in the cities of Leominster, Worcester, Clinton, Holden and Sterling.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 3.40% (excellent) based on September 2011 data. Please refer to our financial overview of Leominster Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 66699).
How These CD Rates Compare
The best 3-year CD rate that's available nationwide is 1.90% APY at Fort Knox FCU, and the best 5-year CD rate is 2.35% APY (2.60% w/relationship) at Digital Credit Union. The best 3-year and 5-year CD rates used to be at Melrose Credit Union, but Melrose cut its CD rates in February.
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.