For those who don't want to lock in their money into long-term CD, short-term CDs can be a reasonable option that have rates a little higher than savings accounts. And unlike savings accounts, you don't have to worry about the rate falling during the CD term. It is getting difficult to find short-term CD rates higher than savings account rates these days. Sometimes the best deals are local deals. That's the case in Houston where Harris County Credit Union is offering several competitive CD and IRA CD rates with terms of 1 to 3 years.
The best deal is a Jumbo 12-month IRA CD with a 1.66% APY. The other two Jumbo IRAs are a 1.97% APY for 2 years and 2.17% APY for 3 years. The non-IRA Jumbo CDs are also very competitive: 1.31% APY for 1 year, 1.71% APY for 2 years and 1.92% APY for 3 years. Minimum deposit is $95,000. Rates are lower but still competitive for the non-Jumbo CDs which have a $2,500 minimum deposit. These rates are listed in the credit union's rates page as of 11/11/2011.
Credit union membership is open to anyone who lives, works, attends school or worships in parts of Houston area. Please refer to the credit union's membership page for the full details.
Harris County Credit Union is located in downtown Houston. It's a small credit union with just one office, but it belongs to the shared branch network.
The credit union has an overall health score of 5 stars (out of 5) with a Texas Ratio of 4.53% (excellent) based on June 2011 data. Please refer to our financial overview of Harris County Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 7552).
How Do These CD Rates Compare
There's another small Houston institution that offers competitive short-term CD rates. It's Chasewood Bank, and it offers a 1.26% APY 1-year CD and a 1.51% APY 2-year CD.
For nationally available accounts, the best 1-year and 2-year CD rates are 1.30% APY and 1.70% APY ($25K minimum) at Alliant Credit Union.
These rates are accurate as of 11/11/2011.
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.