Top 1-Year Jumbo CD Rate at Health One Credit Union in MI & OH - Local Only


As I was looking over our 1-year CD rate table for Michigan I noticed Health One Credit Union was on top with a rate much higher than the other Michigan banks and credit unions. Its 1-year CD rate is 2.00% for a $100,000 minimum deposit. We have been listing this rate since March. I checked the credit union’s rates page, and sure enough, it’s listed there. I also called the credit union, and I was told that it’s correct. In today’s environment, I’m suspicious of any 2% CD, and especially when the term is only one year. If you don’t have $100,000, there’s also a competitive rate of 1.20% for a $10,000 minimum deposit. These rates are accurate as of 4/23/2013 and are subject to change at anytime.

I last reported on this credit union in 2011 when it top 1-year CD rate was 1.20% for a $10K minimum. Based on our rate history, this CD rate had fallen to 0.60% in 2012, and it just went back up to 1.20% in March at the same time as the Jumbo CD rate went up to 2.00%.

It may sound like Health One Credit Union would be limited to those employed in the health care field. In 2009, the credit union received permission from the Michigan financial regulators to expand its field of membership to be community based in addition to employer based. It's now open to those who live, work, worship, volunteer or attend school in the Michigan counties of Macomb, Oakland, Washtenaw or Wayne. Please refer to the credit union's field of membership page for the full details.

Health One Credit Union branches are located in Detroit and Southfield, Michigan and in Cleveland, Ohio.

The credit union’s financial health has gone down some since 2011. Its overall health score at has fallen from 4 stars to 3 stars (out of 5) and its Texas ratio has risen from 27.95% (average) to 49.53% (below average). These new numbers are based on December 2012 data. Please refer to our financial overview of Health One Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 63106).

How This CD Rate Compares

The highest 1-year CD rate that’s nationally available is 1.16% APY at State Bank of India - Chicago. This bank doesn’t have online banking, so if you don’t live near Chicago, you’ll have to open the CD by mail. If you want an online application, the best 1-year CD rate is 1.15% APY at BofI Federal Bank via one of their affinity groups. These rates are accurate as of 4/23/2013.

Searching for Top CD and IRA CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of For IRA CD rates please refer to the best IRA rates section.

Anonymous   |     |   Comment #1
Beneath the terms of item G., membership for retired persons should be easy and straightforward.  Has anyone pursued this loophole?
Competitive 1-Year CD Rate at Health One Credit Union in Michigan - Local Only

As I mentioned on Monday, you might be able to qualify for membership in a credit union even if the credit union's name suggests a limited membership. That's the case with Health One Credit Union which offers a very competitive 1-year CD. It has a 1.20% APY for a minimum deposit of $10,000. This rate is listed at the credit union's rates page as of 10/26/2011.

Health One also offers a free checking account with no monthly service fees or minimum balance requirements.

It may sound like Health One Credit Union would...

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