Dedicated to Deposits: Deals, Data, and Discussion

7-Month Holiday CD Special at Washington Federal in Western States


Washington Federal

Washington Federal is offering a holiday special CD with terms of 7 or 13 months. It has a 1.00% APY, and the minimum deposit is $1,000. Maximum deposit is $250,000. I found this special mentioned at this Washington Federal deposit rates page on 12/27/2013.

In 2011 Washington Federal had offered top rates on its 5-year CDs. This year they haven’t had any competitive rates for their 5-year CD or other standard terms.

A branch visit has been required to open accounts. For those who prefer opening a CD in a branch, this bank may be a good choice especially for those who live in cities like Las Vegas and Phoenix where rates are below national averages.

Washington Federal branches are located in several cities in the Western states of Arizona, Idaho, New Mexico, Nevada, Oregon, Texas, Utah and Washington. Some of the major cities include Phoenix, Tucson, Boise, Albuquerque, Las Vegas, Portland, Dallas, Salt Lake and Seattle.

Washington Federal is a sizable bank with $13 billion in assets. It has an overall health grade at of an A with a Texas Ratio of 11.49% (above average) based on September 2013 data. Please refer to our financial overview of Washington Federal for more details. The bank has been a FDIC member since 1935 (FDIC Certificate # 28088).

How This CD Rate Compares

It's hard to find short-term CDs with rates of at least 1.00%. There is one CD special at an all-access credit union with an unusually high rate, but there are a few hoops that you have to jump through. That CD has a 2.00% APY for a 6-month term. The maximum deposit is $50,000, and it requires checking, debit cards and direct payroll or other recurring deposits. It’s at Communitywide Federal Credit Union.

The best short-term deal at a bank is EverBank’s 6-month intro rate for its checking and money market accounts. EverBank guarantees a 1.10% rate for the first 6 months on its checking and money market account. The catch is that it’s only for first-time checking or MMA customers. Also, there’s a $100K maximum deposit on the checking and a $50K max on the MMA.

For CDs without low maximums and without checking requirements, the best deal is a special 1.00% APY 7-month CD at Xceed Financial Credit Union. For a nationwide bank, the best deal is a 0.87% APY 6-month CD at Doral Direct. In my opinion, Ally Bank’s 11-Month No-Penalty CD is a better deal since it can be closed anytime without penalty from 7 days to 11 months. It has a 0.87% APY.

The above rates are accurate as of 12/27/2013.

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

  Tags: Washington Federal, CD rates, Arizona, Idaho, New Mexico, Nevada, Oregon, Texas, Utah, Washington

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