Louisiana is one of the states with highest deposit rates, and some of the best CD rates continue to be offered by Jefferson Financial Credit Union. There are two rate tiers, and the top tier only requires a $10,000 minimum deposit. The following are the most competitive share and IRA certificate rates listed at the credit union's share certificates rates page as of 12/7/2012:
- 2.25% APY 5-year CD and IRA CD
- 2.00% APY 4-year CD and IRA CD
- 1.75% APY 3-year CD and IRA CD
- 1.50% APY 2-year CD and IRA CD
The above rates require a minimum deposit of $10,000. For a $1,000 minimum deposit, rates are 25 basis points lower for all terms except the 2-year term. In that case the rate is 50 basis points lower. The credit union has more details about these CDs in the certificates truth in savings document that's available in the credit union's disclosure page. According to the disclosure, the early withdrawal penalty is equal to 90 days of dividends for terms longer than 12 months.
Membership is open to all residents of Jefferson Parish, which includes most of the suburbs of New Orleans. Also eligible are employees of certain Select Employee Groups. Please refer to the credit union's Membership Eligibility Page for more details. Membership requires a one-time $5 fee and a minimum balance of $5 in the Primary Savings Account.
Jefferson Financial Credit Union branches are located in the Louisiana cities of Metairie, Marrero, Gretna, Harvey, Jefferson, Kenner and St. James.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 8.66% (above average) based on September 2012 data. Please refer to our financial overview of Jefferson Financial Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 60738).
How These CD Rates Compare
Jefferson Financial Credit Union's 5-year and 4-year CD rates are higher than what are nationally available. The highest 5-year CD rate that's nationally available is 2.20% APY at Pen Air Credit Union. This requires a $100K minimum deposit. The yield falls to 2.00% APY for smaller deposits.
For 2-year and 3-year CDs, you can match Jefferson Financial Credit Union's rates at PenFed with a 1.50% APY 2-year CD and a 1.75% APY 3-year CD.
These rates are accurate as of 12/7/2012.
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.