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Short-Term CD Specials


Local banks and credit unions often have CD specials that are very good deals. These special CDs often have odd terms like 7 months or 11 months. Also, they tend to have higher minimum deposit requirements than the standard CDs. Unfortunately, you usually have to live near a branch.

After a lot of web searching, I've put together a list of high rate short-term CDs from banks and credit unions around the country. They range in terms from 6 months to 12 months. All of them have rates of 4% or higher. To help you quickly determine if these are applicable to you, I've included a city and state. Most have branches in many other cities. For ease of reading, I just mentioned one. For the credit unions, other criteria besides location may factor into membership eligibility.

The best deal is a 4.25% 6 month CD special offered by Garden Savings Federal Credit Union. Its main office is in Parsippany, New Jersey. Looks like its field of membership is primarily related to company affiliation.

As a comparison with national rates, the best 6 month CD listed at Bankrate.com is from Corus Bank with an APY of 4.09%.

6, 7 and 8 month CDs:
  • 4.25% - 6m, $1K min, Parsippany, New Jersey, Garden Savings Federal CU
  • 4.05% - 7m, $5K min - Jamestown, North Dakota, First Community Credit Union
  • 4.03% - 7m, $2.5K min, Trenton, Illinois, Tempo Bank
  • 4.00% - 7m, $500 min, Basehor, Kansas, First State Bank & Trust
  • 4.00% - 8m, $5K min, Appleton, Wisconsin, First National Bank Fox Valley

9 and 10 month CDs:

11 and 12 month CDs
  • 4.25% - 11m, $500 min, Wessington Springs, South Dakota, American Bank & Trust
  • 4.25% - 11m, $1K min, Wooster, Ohio, Wayne Savings
  • 4.25% - 12m, $500 min, Arizona/South Florida, AmTrust Bank
  • 4.25% - 12m, $500 min, Lyons, Nebraska, First National Bank Northeast

Note, all rates are in APY and were advertised on the institutions' websites as of Sept 14, 2005. For my list of national short-term CD deals, refer to my Deal Summary for Sept 10th.