Iowa is one of the best states for savers. Several Iowa credit unions offer top deposit rates. I found another one of these, but it's also available in parts of Missouri. It's Community 1st Credit Union. The best deals are its long-term CDs and IRA CDs. These include a 2.10% APY 5-year CD, a 1.90% APY 4-year CD and a 1.70% APY 3-year CD. Minimum deposit is $50,000. The rates are 10 bps lower for a $500 minimum deposit. These rates are listed in the credit union's rates page as of 12/20/2012.
Credit union membership is open to persons working or living in many counties in southern Iowa and in a few counties in northern Missouri. Please refer to the credit union's "area we serve" page for more details. There's an online application for membership.
Community 1st Credit Union branches are located in several Iowa cities. Some of these include Cedar Rapids, Ottumwa and Grinnell.
The credit union has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas ratio of 9.60% (above average) based on September 2012 data. Please refer to our financial overview of Community 1st Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68510).
How These CD Rates Compare
One of the best CD deals in Iowa is offered by University of Iowa Community Credit Union which is open to residents of many Iowa counties. The highest rate at this credit union is 2.35% APY for a Super Jumbo CD with terms from 49 to 60 months. This requires a $250K minimum deposit. The rate is 2.25% APY for a $100K minimum and 2.15% APY for a $500 minimum deposit.
The highest nationally available 5-year CD rate is 2.20% APY at Pen Air Credit Union. Minimum deposit is $100,000. The standard 5-year CD APY is 2.00%.
These rates are accurate as of 12/20/2012.
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.