Everett Co-operative Bank just came out with two CD specials. The best one is a 33-month CD that has a 2.30% APY. One downside is that an active ECB NOW Account with direct deposit is required to open this special CD. Also, it’s not available as an IRA. At maturity this CD will automatically renew to a 12 month CD unless the customer chooses another product. There’s also a 25-month CD special, but this has a much lower rate of 1.25% APY. This doesn’t appear to require the checking account. Both CDs have a minimum deposit of $500. These specials are listed at the bank’s deposit rates page as of 7/3/2014. Thanks to DA member pearlbrown for posting on this deal in the forum.
No out-of-state deposits are allowed for these special CDs. It’s a small bank with one branch located in Everett, Massachusetts which is just north of Boston.
The bank has an overall health grade at DepositAccounts.com of an A+ with a Texas ratio of 4.02% (excellent) based on March 2014 data. Please refer to our financial overview of Everett Co-operative Bank for more details. The bank has been a FDIC member since 1985 (FDIC Certificate # 26444). The bank is also a member of the Share Insurance Fund (SIF). This is a private fund owned by the member co-operative banks, which insures all deposits at co-operative banks in Massachusetts above FDIC limits.
How This CD Rate Compares
The highest rate for a 36-month CD that’s nationally available is 1.75% APY at Connexus Credit Union. This also requires an active checking account with direct deposit. Connexus is an all-access credit union that makes it easy for anyone to join via an association. The highest nationally available 3-year CD rate at a bank is 1.60% APY. This is offered by Northern Bank & Trust Company.
To search for the best nationwide rates and the best rates in your state, please refer to our CD rates tables.