Best CD in America has a Rate Cut - Navy Army Community CU in Texas - Local Only

The rate has fallen, but it remains a great deal. It's the 30-month CD at Navy Army Community Credit Union. Most of last year it had a 3.00% APY. On Monday the yield fell to 2.50%. Minimum deposit is $1,000, and the maximum is $500,000. The credit union shorter-term CDs are still very competitive. These include a 1.45% APY 1-year CD and a 1.85% APY 2-year CD. Minimum deposit is $100,000. Rates are 10 basis points lower for a $1,000 minimum deposit. These rates are listed in the credit union's term share rates page as of 1/9/2013.

The credit union also has one of the best reward checking accounts in the nation with a 3.51% APY for balances up to $25K. It's called the Liberty Checking Share Draft Account, and I did my first review of the account in this 2009 blog post.

As you might have guessed, membership is limited. Because of the name you might think it's limited to the Navy and Army personnel. However, its field of membership is community based. Anyone who lives, works, worships or attends school in any of the following Southeast Texas counties are eligible to join: Aransas, Bee, Jim Wells, Kleberg, Nueces and San Patricio. Please refer to the credit union's membership page for the full details.

Branches are located in the Southeast Texas cities of Corpus Christi, Beeville, Kingsville, Portland and Rockport. New branches have recently opened at Brownsville and McAllen.

It's a sizable credit union with $1.40 billion in deposits. The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 2.08% (excellent) based on September 2012 data. Please refer to our financial overview of Navy Army Community Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68615).

How This 30-Month CD Rate Compares

Even with this rate cut, Navy Army Community's 30-month CD rate is still higher than most all 60-month CD rates. The highest 30-month CD rate that's nationally available is 1.40% APY at Salem Five Direct. This had recently been 1.50%. The best nationally available 2-year and 3-year CD yields are 1.60% and 1.85% at PenFed. These rates are accurate as of 1/9/2013.

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.