With interest rates rising, you may not want to invest in a 5-year CD even if you can get a 5% or higher return. However, a CD with a term of around one year with a 5% return will almost certainly outperform EmigrantDirect. I found two CDs like this. Unfortunately, these specials are being offered at local credit unions which have restrictive fields of membership (FOM).
5.12% - 10-month CD, $5K min and $500 chk acct balance, Coastline FCU, Jacksonville, Florida (FOM)
5.25% - 14-month CD, $50K min (5% CD only has $5K min), MIT FCU, Cambridge, Massachusetts (FOM)
In a future post, I plan to put together a list of regular 5% CDs from credit unions similar to my previous post on 5% CDs from banks.
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