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The Best CD Rates in January 2019
CD Rates Summary January 15, 2019Credit Union CD Specials - Often Better Than Banks
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POSTED ON BY Ken Tumin
I've found several CD specials from credit unions around the country. Many of these CD promotions are better or comparable to the best rates at online banks. When a bank or a credit union is trying to bring in more deposits, you can often get some great deals. Of course when the CD term is over, you may not see anything close to this at the bank again. So it takes some extra work for both the opening of the account and after the CD matures.
Some of the CDs that I list may be considered gimmick CDs. They'll offer a very high rate but limit the deposit amount. So the net effect may be equal to a bonus of around $50. For example, a 9% 1-year CD that limits the deposit to $1K would earn $90. If the money were at EmigrantDirect, it would earn $40 (assuming no rate changes). So with the CD, you come out ahead by $50. The extra money that you would make with this type of promotional CD compared to what you would make at EmigrantDirect may not be worth your time. But if the credit union is near where you live, the extra work may be worth it.
I'll just list the new CD specials for this post. I'll include all of the active ones in a weekly post on the weekends like I did last Saturday.
You usually have to live near a branch to get one of these high interest CDs. I've included the city and state of the main branch so you can quickly determine if the deal is applicable to you. Note, many have branches in other cities, and credit unions often have other membership requirements besides location. All rates are in APY.
Some of the CDs that I list may be considered gimmick CDs. They'll offer a very high rate but limit the deposit amount. So the net effect may be equal to a bonus of around $50. For example, a 9% 1-year CD that limits the deposit to $1K would earn $90. If the money were at EmigrantDirect, it would earn $40 (assuming no rate changes). So with the CD, you come out ahead by $50. The extra money that you would make with this type of promotional CD compared to what you would make at EmigrantDirect may not be worth your time. But if the credit union is near where you live, the extra work may be worth it.
I'll just list the new CD specials for this post. I'll include all of the active ones in a weekly post on the weekends like I did last Saturday.
You usually have to live near a branch to get one of these high interest CDs. I've included the city and state of the main branch so you can quickly determine if the deal is applicable to you. Note, many have branches in other cities, and credit unions often have other membership requirements besides location. All rates are in APY.
- 10.00% - 1 year, $1K max, Sacramento, California, First US Community Credit Union (new members only)
- 7.00% - 1 year, $500 min, $5K max, Williamsville, New York, Western Division Federal Credit Union (click on October special)
- 5.00% - 13-month, $1K min, $5K max, Seattle, Washington, King County Credit Union (all Washington state residents eligible)
- 5.00% - 9-month, $1K min, Eugene, Oregon, SELCO Community Credit Union (no max limit)
- 4.32% - 13-month, $500 min, Clarkston, Michigan, T & C Federal Credit Union
- 4.30% - 10-month, $1K min, Aurora, Colorado, Gateway Credit Union (also has 4.60% 22-month and 4.75% 49-month CDs)
- 4.30% - 13-month, $10K min, Janesville, Wisconsin, Blackhawk Credit Union (only $1K min for 4.20%)
- 4.25% - 11-month, ? min, Livonia, Michigan, Community Choice Credit Union