Arizona Federal Credit Union is one of the few remaining institutions still offering a 2.00% APY 5-year CD. Minimum deposit is $500 ($100 for IRA certificates). Its 4-year share certificate is also fairly competitive with a 1.50% APY. However, the shorter-term CDs have much lower rates. These rates are listed in the credit union's certificates rates page as of 8/30/2012.
One downside with Arizona Federal's 4-year and 5-year share certificates is a large early withdrawal penalty. It's equal to 720 days dividends. This is shown at the bottom of the rate table. That's almost 2 years of interest.
Credit union membership is open to those who live, work, worship or attend school in Maricopa or Pinal County, AZ. Please refer to the credit union's membership page for more details.
Arizona Federal Credit Union branches are located throughout the Phoenix metro area.
It's a sizable credit union with $1.38 billion in assets. The credit union has an overall health score of 4 stars (out of 5) with a Texas ratio of 10.79% (above average) based on March 2012 data. Please refer to our financial overview of Arizona Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 1747).
How This 5-Year CD Rate Compares
The highest 5-year CD rate that's nationally available is 2.12% APY at the all-access credit union US Senate Federal Credit Union. This requires a $60K minimum deposit. The yield for deposits under $20K, the yield is 10 basis points lower.
There are just a couple of other all-access credit unions that are offering 2.00% APY 5-year CDs. One is Mountain America Credit Union which has a branch in Phoenix.
There is one large bank that still offers 2.00% APY on a 5-year CD. It's BBVA Compass and it has branches in the Phoenix metro area. Unfortunately, it's not a nationwide deal. See my review for a list of other states with Compass branches.
The highest 5-year CD rate at an internet bank is 1.90% APY at CIT Bank. This requires a $100K minimum deposit. The yield for a $1,000 minimum is 1.85% APY.
These rates are accurate as of 8/30/2012.
Searching for Top CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.