Some of the best CD deals in the nation are located in Texas. I came across another one of these today. TEXAR Federal Credit Union is offering an 18-month share certificate with a 2.10% APY. This requires opening the CD online. The rate is 10 bps lower when opened at a branch. There's also a competitive 24-month CD with an online APY of 1.85%. Minimum deposit is $1,000. These rates are listed in the credit union's rates page as of 12/11/2012.
Membership is open to residents of the Texas counties of Cass, Bowie and Red River and the Arkansas county of Miller. The credit union's services page also lists several groups which are eligible for membership. One line in this list is "Members of school-related organizations such as PTA, PTO, VIPS, and booster clubs." I don't know if there are additional requirements for these groups. It's a small credit union, so they may not have intended to include new members outside their area. Update: A reader confirmed with TEXAR that if you are claiming membership through the PTA or one of the other organizations, you must live in one of the counties they serve.
TEXAR FCU branches are located in the Texas cities of Texarkana, Atlanta, New Boston, DeKalb and Hooks, and in Texarkana, Arkansas.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 4.06% (excellent) based on September 2012 data. Please refer to our financial overview of TEXAR FCU for more details. The credit union is federally insured by the NCUA (Charter # 24567).
How This CD Rate Compares
As I mentioned above, the best CD deals in the nation are located in Texas. The one that I think is the best is available to those who live in the Corpus Christi metro area. It's a 3% APY 30-month CD at Navy Army Community Credit Union.
For an 18-month term, residents of the Corpus Christi metro area have access to a 1.65% APY CD at Gulf Coast Credit Union.
If you go out just another 6 months in maturity, you can get a very good deal at PenFed. It's offering a 1.50% APY 2-year CD.
These rates are accurate as of 12/11/2012.
Searching for the Best 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.