Survey of the Best CD Rates for November 9, 2012

There were a few more CD rate cuts this week. We lost another 2% 5-year CD from an all-access credit union. Pinnacle FCU lowered its 5-year CD yield from 2.00% to 1.75%. That knocked it off my list.

On the plus side, I added one more 2% 5-year CD. It's actually an IRA CD with a 2.07% APY. This is available at the State Department FCU which is another all-access credit union. Its regular CD rates are 10 basis points lower than the IRA rates.

One credit union that was already in the 2% 5-year club became the leader of this club this week. Thanks to a reader's tip, I learned that Pen Air FCU offers an extra 20 basis points on its Jumbo CDs. This results in a Jumbo 5-year CD with a 2.20% APY. Minimum deposit is $100,000.

For the shorter-term CDs, Sandia Laboratory FCU cut its 2-year and 3-year CD rates by 15 basis points. Even with these cuts, its Jumbo CD rates that require $200K and $100K minimums remain very competitive. However, the best 2-year and 3-year CD deals continue to be at Pentagon Federal Credit Union. As I reported last week, PenFed increased several of its CD rates for November. The best deals are its 1.26% APY 1-year CD, 1.36% APY 2-year CD and 1.61% APY 3-year CD.

For the last couple of months, 10-year non-callable brokered CDs were available from Fidelity with a rate of 2.45%. Those weren't available when I checked today. The highest rate I found today with call protection was 1.50% for a 7-year term. The best long-term CD deals are now at credit unions. Air Force Federal Credit Union still has the best deal with a 2.25% APY for a $100K minimum and 2.20% APY for a $2,500 minimum. However, as you can see, the 7-year CD doesn't offer much higher rates than the 5-year CDs.

Local CD Deals

We lost a few more local CD specials this week. South Florida FCU is no longer listing its special 1.25% APY 1-year CD, and Patriot Community Bank in the Boston metro area ended its 1.60% APY 2-year CD special.

There were also some rate cuts. S-Bank in Massachusetts slashed its 5-year and 4-year CD yields from 2% to 1.50%. That knocked S-Bank off my list. Freedom Credit Union in Philadelphia reduced its 5-year CD yield from 2.00% to 1.90%. I kept Freedom on the list due to its add-on deposit feature. I'll keep institutions on the list even if their CD rates are a little low if the CDs have useful features. I'll also be more likely to keep CDs on the list if the CDs are available to large metro areas which don't have many other competitive CD rates.

I only added one new local CD to the list below. East Boston Savings Bank is offering a special 1.27% APY 19-month CD at two of its Boston Metro branches.

BBVA Compass continues to offer competitive CD rates including a 2.00% APY 5-year CD and a 1.25% APY 2-year CD. I learned this week that customers can get an extra 10 basis points on these CDs with an active checking account. These CDs are available in many areas of the country where Compass has branches. These include parts of AZ, CA, CO, NM, AL, FL and TX.

Long-Term CD Break Strategy

For the short-term CDs in my lists, you might notice CDs with the note "5-year CD closed after X years". These take into account the yield after the early withdrawal penalty is applied. Since Ally Bank's 5-year CD only has a 60-day interest penalty, it's still a good deal when closed early even with the recent rate cuts.

The risks of planning for early withdrawals of long-term CDs were recently highlighted by the deposit agreement change at Ally. The risks have also been seen at credit unions which have raised the early withdrawal penalties on existing CDs. I have more details in this blog post.

Note About the CD Survey

As I described in my rate table overview, you can use our CD rate tables to find the best rates for both nationally available CDs and local CDs. This CD survey blog posts are intended to highlight nationwide CD deals that may not be apparent in the tables. For example, I'll include the post-penalty yields of a few long-term CDs.

The CD survey blog posts are also intended to highlight the local CD deals that are available in large metro areas. There are many high CD rates, but most of these are at small banks in rural areas or at small credit unions with very narrow fields of membership. In these local CD surveys, my focus is on local CD deals that are in big cities or that are available in large areas of a state.

Yields Accurate as of November 9, 2012

Under 1-Year CD Rates

• EverBank - 1.25% checking/MMA intro 6-month rate ($100K/$50K max) account review
• Ally Bank - 1.09% (1.64% 5-year CD closed after 6 months, see review & risks)
• Airbanking - 1.02% 1-year No-Penalty CD
• Connexus Credit Union - 1.00% 6-month CD w/active chk
• Doral Bank Direct - 0.96% 9-month CD, account review
• Ally Bank - 0.96% 11-month No-Penalty CD, see account review
• Doral Bank Direct - 0.91% 6-month CD, account review
• Barclays - 0.85% (1.70% 5-year CD closed after 6 months, see review & risks)
• Colorado Federal Savings Bank - 0.80% 6-month CD

• Noteworthy Local Deals

• HomeBanc N.A. - 1.50% ($75K max) 3-month CD (Central Florida)
• Gulf Coast Federal Credit Union - 1.10% 6-month CD (Corpus Christi, TX metro)
• University of Iowa Community Credit Union - 1.05% ($250K) 0.95% ($100K) 0.85% ($1K) 7-month CD (several parts of Iowa)
• Veridian Credit Union - 1.00% ($100K) 0.80% ($1K) 7-month CD (several parts of Iowa)
• First Choice Bank - 1.00% ($50K) 0.95% ($2.5K) 288-day CD (Los Angeles & Orange County, CA)
• LOMTO Federal Credit Union - 1.00% 6-month CD (parts of New York City)

1-Year CD Rates

• Ally Bank - 1.36% (1.64% 5-year CD closed after 1 year, see review & risks)
• Barclays - 1.27% (1.70% 5-year CD closed after 1 year, see review & risks)
• Pentagon Federal Credit Union - 1.26% 1-year CD, account review
• Airbanking - 1.12% 1-year CD
• AloStar Bank of Commerce - 1.11% 1-year CD
• CIT Bank - 1.10% ($25K min) add-on & bump-up 1-year CD
• Bank of Internet USA - 1.10% 1-year CD

• Noteworthy Local Deals

• City County Credit Union - 1.51% 1-year IRA-only CD (many FL counties)
• Gulf Coast Federal Credit Union - 1.50% 12-month CD (Corpus Christi, TX metro)
• Community Trust Bank - 1.40% (w/dd) 1.15% (w/chk) 0.90% 13-month CD, review (parts of TX, LA & MS)
• University of Iowa Community Credit Union - 1.35% ($250K) 1.25% ($100K) 1.15% ($1K) 13-month CD (several parts of Iowa)
• General Electric Credit Union - 1.26% ($100K) 1-year CD (Cincinnati OH metro)
• LOMTO Federal Credit Union - 1.20% 1-year CD (parts of New York City)
• Doral Bank NY - 1.10% 1-year CD (NYC)
• First Choice Bank - 1.05% ($50K) 1.00% ($2.5K) 366-day CD (Los Angeles & Orange County, CA)
• BBVA Compass - 1.00% 15-month CD (parts of AZ, CA, CO, NM, AL, FL, TX)

18-month CD Rates

• Ally Bank - 1.46% (1.64% 5-year CD closed after 18 months, see review & risks)
• Barclays - 1.41% (1.70% 5-year CD closed after 18 months, see review & risks)
• Salem Five Direct - 1.15% 18-month CD
• NexBank - 1.15% 18-month CD, account review
• MetLife Bank - 1.12% 18-month CD
• Doral Bank Direct - 1.08% 18-month CD, account review

• Noteworthy Local Deals

• Gulf Coast Federal Credit Union - 1.65% 18-month CD (Corpus Christi, TX metro)
• Workers Credit Union - 1.50% 18-month CD w/chk+dd (MA & Southern NH)
• Generations Federal Credit Union - 1.50% 18-21-month CD special (San Antonio, TX)
• University of Iowa Community Credit Union - 1.45% ($250K) 1.35% ($100K) 1.25% ($1K) 16-month CD special (several parts of Iowa)
• Veridian Credit Union - 1.35% ($100K) 1.15% ($1K) 15-month CD (several parts of Iowa)
• El Paso Area Teachers FCU - 1.31% ($50K) 1.21% ($500) 18-month CD (El Paso, TX)
• Texell Credit Union - 1.30% 18-month CD (Central Texas)
• East Boston Savings Bank - 1.27% 19-month CD special (2 branches in Boston Metro)
• Superior Choice Credit Union - 1.25% 18-month CD special (parts of WI and MN)
• Libertad Bank - 1.25% 18-month CD (Texas)
• Meetinghouse Bank - 1.20% 18-month CD (Boston, MA)
• Valley Green Bank - 1.20% 18-month CD (Philadelphia, PA)
• Shell Federal Credit Union - 1.20% ($50K) 1.15% ($500) 18-month CD (Houston, TX)
• Doral Bank NY - 1.20% 18-month CD (NYC)
• First Choice Bank - 1.10% ($50K) 1.05% ($2.5K) 541-day CD (Los Angeles & Orange County, CA)

2-Year CD Rates

• Ally Bank - 1.50% (1.64% 5-year CD closed after 2 years, see review & risks)
• Barclays - 1.49% (1.70% 5-year CD closed after 2 years, see review & risks)
• Pentagon Federal Credit Union - 1.36% 2-year CD, account review
• Citizens State Bank - 1.36% ($100K) 1.21% ($1K) 2-year CD, account review
• Sandia Laboratory FCU - 1.36% ($200K) 1.26% ($100K) 1.16% ($50K) 1.06% ($1K) 2-year CD
• NexBank - 1.30% 2-year CD, account review
• Connexus Credit Union - 1.30% 2-year CD w/active chk
• AloStar Bank of Commerce - 1.26% 2-year CD
• Northwest Federal Credit Union - 1.26% ($100K) 1.15% ($25K) 2-year CD (+0.25% w/relationship)
• CIT Bank - 1.25% ($25K min) add-on & bump-up 2-year CD
• Melrose Credit Union - 1.21% 2-year CD

• Noteworthy Local Deals

• Gulf Coast Federal Credit Union - 1.85% 2-year CD (Corpus Christi, TX metro)
• Veridian Credit Union - 1.55% ($100K) 1.35% ($1K) 25-month CD (several parts of Iowa)
• University of Iowa Community Credit Union - 1.50% ($250K) 1.40% ($100K) 1.30% ($1K) 25-month CD (several parts of Iowa)
• LOMTO Federal Credit Union - 1.40% 2-year CD (parts of New York City)
• BBVA Compass - 1.35% 2-year CD w/chk, 1.25% w/o chk (parts of AZ, CA, CO, NM, AL, FL, TX)
• Doral Bank NY - 1.30% 2-year CD (NYC)
• Wings Financial Credit Union - 1.26% 2-year CD (Seattle & Minneapolis Metro areas)

3-Year CD Rates

• Wilshire State Bank - 2.28% 3-year installment savings account w/auto xfers (account review)
• Connexus Credit Union - 1.75% 3-year CD w/active chk
• Pentagon Federal Credit Union - 1.61% 3-year CD, account review
• Ally Bank - 1.55% (1.64% 5-year CD closed after 3 years, see review & risks)
• Barclays - 1.56% (1.70% 5-year CD closed after 3 years, see review & risks)
• Salem Five Direct - 1.50% 30-month CD
• Citizens State Bank - 1.50% ($5K) 3-year Raise Your Rate CD, account review
• Melrose Credit Union - 1.46% 3-year CD
• Sandia Laboratory FCU - 1.46% ($200K) 1.36% ($100K) 1.26% ($50K) 1.16% ($1K) 3-year CD
• CIT Bank - 1.44% ($100K) 1.42% ($1K) 3-year CD
• NexBank - 1.40% 3-year CD, account review
• Northwest Federal Credit Union - 1.40% ($100K) 1.30% ($25K) 3-year CD (+0.25% w/relationship)
• Discover Bank - 1.35% 3-year CD
• Pentagon Federal Credit Union - 1.34% (2.02% 7-year CD closed after 3 years, see review & risks)

• Noteworthy Local Deals

• NavyArmy Community Credit Union - 3.00% 30-month CD (Corpus Christi, TX metro)
• University of Iowa Community Credit Union - 2.20% ($250K) 2.10% ($100K) 2.00% ($1K) 37-month CD (several parts of Iowa)
• Encompass Credit Union - 2.02% 3-year CD (Central Indiana)
• Sea Comm Federal Credit Union - 2.02% 3-year CD (Northern NY)
• Gulf Coast Federal Credit Union - 2.02% 3-year CD (Corpus Christi, TX metro)
• Veridian Credit Union - 1.90% ($100K) 1.70% ($1K) 39-month CD (several parts of Iowa)
• One Source Federal Credit Union - 1.86% ($50K) 1.76% ($1K) 3-year CD (El Paso, TX)
• Dover Federal Credit Union - 1.75% 3-year CD (Delaware)
• LOMTO Federal Credit Union - 1.75% 3-year CD (parts of New York City)
• Doral Bank NY - 1.55% 3-year CD (NYC)
• Knoxville TVA Employees Credit Union - 1.60% 34-month CD (Knoxville, TN metro)
• Wings Financial Credit Union - 1.56% 3-year CD (Seattle & Minneapolis Metro areas)

4-Year CD Rates

• Pen Air Federal Credit Union - 1.80% ($100K) 1.60% ($500) 5-year CD
• Citizens State Bank - 1.77% ($100K) 1.61% ($1K) 4-year CD, account review
• Andrews Federal Credit Union - 1.71% 4-year CD
• Melrose Credit Union - 1.71% 4-year CD
• Communitywide Federal Credit Union - 1.70% 49-month special CD
• Alliant Credit Union - 1.65% 4-year CD
• Pentagon Federal Credit Union - 1.61% 4-year CD, account review
• Nationwide Bank - 1.61% ($100K) 1.56% ($500) 4-year CD
• Ally Bank - 1.57% (1.64% 5-year CD closed after 4 years, see review & risks)
• Barclays - 1.59% (1.70% 5-year CD closed after 4 years, see review & risks)
• Discover Bank - 1.55% 4-year CD
• Pentagon Federal Credit Union - 1.51% (2.02% 7-year CD closed after 4 years, see review & risks)
• Barclays - 1.45% 4-year CD
• Ally Bank - 1.35% Raise-Your-Rate 4-year CD

• Noteworthy Local Deals

• University of Iowa Community Credit Union - 2.35% ($250K) 2.25% ($100K) 2.15% ($1K) 49-month CD (several parts of Iowa)
• Sea Comm Federal Credit Union - 2.25% 4-year CD (Northern NY)
• SECNY Federal Credit Union - 2.00% ($50K) 1.90% ($1K) 4-year CD (Central NY)
• HAPO Community Credit Union - 2.00% 4-year CD (all of Washington State)
• Dover Federal Credit Union - 2.00% 4-year CD (Delaware)
• LOMTO Federal Credit Union - 2.00% 4-year CD (parts of New York City)
• One Source Federal Credit Union - 1.97% ($50K) 1.87% ($1K) 4-year CD (El Paso, TX)
• Shell Federal Credit Union - 1.90% ($50K) 1.85% ($500) 4-year CD (Houston, TX)
• Resource One Credit Union - 1.80% ($90K) 1.70% ($500) 4-year CD (Houston & Dallas area)
• Empower Federal Credit Union - 1.75% ($100K) 1.60% ($10K) 4-year CD, extra 0.25% for seniors w/dd (western NY)
• Wings Financial Credit Union - 1.71% 4-year CD (Seattle & Minneapolis Metro areas)
• Doral Bank NY - 1.65% 4-year CD (NYC)

5-Year CD Rates

• Pen Air Federal Credit Union - 2.20% ($100K) 2.00% ($500) 5-year CD
• Stanford Federal Credit Union - 2.12% ($100K) 5-year CD, requires chk w/dd, account review
• State Department Federal Credit Union - 2.07% 5-year IRA CD, 1.96% 5-year CD
• Citizens State Bank - 2.00% ($100K) 1.85% ($1K) 5-year CD, account review
• Mountain America Credit Union - 2.00% 5-year CD, account review
• Connexus Credit Union - 2.00% 5-year CD w/active chk
• Communitywide Federal Credit Union - 2.00% 5-year CD
• Melrose Credit Union - 1.96% 5-year CD
• State Bank of India, New York - 1.81% 5-year CD
• CIT Bank - 1.85% ($100K) 1.80% ($1K) 5-year CD
• Nationwide Bank - 1.85% ($100K) 1.80% ($500) 5-year CD
• Discover Bank - 1.75% 5-year CD
• Barclays - 1.70% 5-year CD
• Ally Bank - 1.64% 5-year CD
• Pentagon Federal Credit Union - 1.61% (2.02% 7-year CD closed after 5 years, see review & risks)

• Noteworthy Local Deals

• American Airlines Credit Union - 3.09% 5-yr/1.81% 2.5-yr CD ladder (limited membership)
• Belmont Savings Bank - 3.00% ($25K max, active checking required) 5-year CD (Massachusetts)
• Encompass Credit Union - 2.53% 5-year CD (Central Indiana)
• Sea Comm Federal Credit Union - 2.49% 5-year CD (Northern NY)
• One Source Federal Credit Union - 2.37% ($50K) 2.27% ($1K) 5-year CD (El Paso, TX)
• General Electric Credit Union - 2.33% 5-year CD (Cincinnati OH metro)
• Security Service Federal Credit Union - 2.30% ($100K) 2.15% ($500) 5-year CD (parts of Texas, lower rates in CO and UT)
• Ukrainian Selfreliance FCU - 2.30% ($75K) 2.25% ($500) 5-year CD (Philadelphia, PA)
• Dover Federal Credit Union - 2.25% 5-year CD (Delaware)
• SACU - 2.20% ($90K) 2.15% ($10K) 5-year CD (San Antonio, TX)
• SECNY Federal Credit Union - 2.20% ($50K) 2.00% ($1K) 5-year CD (Central NY)
• LOMTO Federal Credit Union - 2.20% 5-year CD (parts of New York City)
• Shell Federal Credit Union - 2.20% ($50K) 2.15% ($500) 5-year CD (Houston, TX)
• Idaho Central Credit Union - 2.15% 5-year bump-up CD (Idaho)
• BBVA Compass - 2.10% 5-year CD w/chk, 2.00% w/o chk (parts of AZ, CA, CO, NM, AL, FL, TX)
• Denver Community Credit Union - 2.10% ($50K) 1.85% ($100) 5-year CD (Denver County)
• HAPO Community Credit Union - 2.10% 5-year CD (all of Washington State)
• Texell Credit Union - 2.10% 5-year CD (Central Texas)
• Resource One Credit Union - 2.10% ($90K) 2.00% ($500) 5-year CD (Houston & Dallas area)
• Empower Federal Credit Union - 2.05% ($100K) 1.90% ($10K) 5-year CD, extra 0.25% for seniors w/dd (Northwest NY)
• Randolph Bank & Trust Company - 2.02% 5-year special CD (North Carolina)
• HEW Federal Credit Union - 2.02% 5-year CD (DC metro area)
• American Eagle Bank of Chicago - 2.00% (relationship checking required) 5-year CD (Chicago, IL)
• Police and Fire Federal Credit Union - 2.00% 5-year CD (Pennsylvania)
• Wings Financial Credit Union - 1.96% 5-year CD (Seattle & Minneapolis Metro areas)
• Miami Postal Service Credit Union - 1.91% 5-year CD (Southeast FL)
• Freedom Credit Union - 1.90% add-on 5-year CD (Philadelphia)

Over 5-Year CD Rates

• Air Force FCU - 2.25% ($100K) 2.20% ($2.5K) 7-year CD
• Navy Federal Credit Union - 2.15% ($100K) 2.05% ($20K) 7-year CD (membership restrictions)
• Discover Bank - 2.10% 10-year CD
• Pentagon Federal Credit Union - 2.02% 7-year CD
• Northrop Grumman FCU - 1.97% ($40K) 1.81% ($2.5K) 7-year CD
• Navy Federal Credit Union - 2.00% ($100K) 1.90% ($20K) 6-year CD (membership restrictions)
• Discover Bank - 2.00% 7-year CD
• Apple Federal Credit Union - 2.00% 10-year CD
• Dime Savings Bank - 1.70% 7-year CD

• Noteworthy Local Deals

• SACU - 3.25% ($90K) 3.20% ($10K) 10-year CD (San Antonio, TX)
• SACU - 2.75% ($100K) 2.70% ($10K) 7-year (San Antonio, TX)
• Security Service Federal Credit Union - 2.85% ($100K) 2.70% ($500) 7-year CD (parts of Texas, lower rates in CO and UT)
• Workers Credit Union - 2.50% 6-year CD w/chk+dd (MA & Southern NH)
• Empower Federal Credit Union - 2.05% ($100K) 1.90% ($10K) 7-year CD, extra 0.25% for seniors w/dd (Northwest NY)
• Gateway Metro Federal Credit Union - 2.05% 6-year CD (St. Louis metro)
• Randolph-Brooks Federal Credit Union - 2.02% ($75K) 2.02% ($20K) 7-year CD (San Antonio & Austin, TX)
• Randolph-Brooks Federal Credit Union - 1.87% ($75K) 1.87% ($20K) 6-year CD (San Antonio & Austin, TX)

Note: All rates listed above are Annual Percentage Yields (APY) which factor in compounding.

Tags: CD rates