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This Year’s CD Deals We Can Be Thankful For


I want to wish everyone a Happy Thanksgiving. May you enjoy the feast and the company of your family and friends. Thanks for all of your support this year.

It’s sort of my blog tradition for Thanksgiving to look back at some of the bank deals this year that we can be thankful for.

Even though this was a disappointing year for interest rates, there were still several good CD deals. Just like previous years, most of the best CD deals this year have come from credit unions. I listed four credit unions in my Tuesday summary that are still offering nationally available CDs with yields of at least 3%. One of the best of these (at PSECU) will be ending soon.

Most credit union CD deals aren’t nationally available. To qualify for these local deals, you typically have to be lucky in where you live.

One of these local deals is the 30-month Step CD from Keesler Federal Credit Union. Since July, Keesler Federal has been offering two great rates on this 30-month Step CD: 3.10% APY for a $1k minimum and 3.20% APY for a $100k minimum. I have more details in my review of these Keesler Step CDs.

A new local CD deal just started at GPO Federal Credit Union. This New York credit union is offering a special 7-month and 14-month CD, both with a 3.00% APY. Please refer to my review of these CD specials for more details.

Now let’s review a few of the good 2019 deals that have ended.

Navy Federal Credit Union had several great CD deals this year. In January, Navy Federal came out with a 17-month Share Certificate Special with a 3.25% APY. Add-on deposits were allowed up to a maximum deposit of $50k.

Navy Federal did another surprise in July when many institutions were cutting rates. It came out with a 5-year Share Certificate with a 3.50% APY. This lasted for over a month before it was reduced to 3.25% APY. Further rate reductions occurred, and now the top-tier rate is 2.50% APY for deposits of at least $100k.

Navy Federal also had some recent short-term CD deals. The best one was an 18-month Share Certificate with a 3.00% APY. This lasted from late July to late September. The top-tier rate is now 2.25% APY for deposits of at least $100k.

Occasionally, NASA Federal Credit Union offers very competitive special Certificates. The best deal this year was in February when it offered a 15-month Share Certificate Special with a 3.20% APY. While not as competitive as February, NASA Federal is offering 2.50% APY on its 15-month Share Certificate Special in November.

In the first part of the year, Mountain America Credit Union (MACU) offered three competitive CDs: a 2-year (3.25% APY), 3-year (3.35% APY) and a 5-year (3.51% APY). In addition, MACU offered a partial add-on deposit feature. Its Term Deposit Plus accounts (now called Growth CDs) allow for add-on deposits up to a total $100k maximum balance.

Occasionally, a bank will offer a CD special that will match or top the best CDs from credit unions. One example this year was the 19-month CD special at the Philadelphia-based Hyperion Bank. For a couple of weeks in February and March, Hyperion Bank was offering 3.50% APY on a 19-month CD special. Although the bank didn’t have an online application, people in any state could open this by mail. As is typical with hot CD deals from small institutions, this special CD rate didn’t last long.

Thankful and Hopeful

Falling interest rates this year has been disappointing for savers, but there are signs that rates may soon start to stabilize. We can be thankful that the economy remains strong, and that should put upward pressure on interest rates and entice banks and credit unions to offer new CD specials.

What deposit account deals were you thankful for this year?

Related Pages: 1-year CD rates, 5-year CD rates, nationwide deals
  |     |   Comment #1
You have helped me since I first read about you in the Wall Street Journal at work in the 1980's. It was before they even had dial up internet where I lived. I wasn't even able to use the K-Mart cards for 15 minutes of internet. Your site was the first site I went to when I was finally able to get dial-up internet and have gone to it every day except when I was in the hospital.
I was able to get and fund to the fullest upon maturity for insurance at Achieva last year for my Roth IRA. I believe it was this year that Navy had the 3.7 add on CD that I also have for another Roth. I was able to put my conversion into it this month and also throughout the year add other IRA Roth CD's that have matured. That one matures in 2022.
You cannot imagine how many people you have helped. I tell several people every week about your site about the grocery blogs and also for the drug stores and other major stores in town.
  |     |   Comment #4
Ken: I am grateful for your work, which does far more than report best savings rates and interest rate trends. Your blog has helped many to become knowledgeable about savings and finance; and in doing so to make wise financial decisions for their families.
  |     |   Comment #5
Thank you for all of your work, Ken! You truly help many people find the best place that they can for their money.
  |     |   Comment #7
I am thankful for my painless dentist.
Thank a Vet
  |     |   Comment #9
I am VERY thankful for my new Social Security income. It pays out much more each month than I could ever get in CD interest!

With that said, this is a great financial website. Thank you very much. Best wishes to all, and have a peaceful and happy day. Back to football and Jack Daniels. :)
  |     |   Comment #10
Of course the first half of 2019 was more positive than the remainder, and I would agree that MACU played a role on the upside, at least for me. However, I would give the thanks award to GTEF (and to Ken and others for keeping GTEF on the straight and narrow) for it's add-on CDs that came in the 2nd half, which have the potential to offer safe haven for the future.
  |     |   Comment #12
This is a great website and I thank Ken for keeping it current (not an easy task I would gather). Here is wishing Ken and his family a happy thanksgiving.
  |     |   Comment #13
Happy Thanksgiving Ken! Wasn't a spectacular year for deals, I guess best I did was NASA 15 Month 3.2%, Andrews 6 month 3.25%, and now with rates looking flat glad I did a coupe of the Navy 3% 18 month. And sadly now going into last year of Penfed 5%, sure going to miss that one.
  |     |   Comment #14
I'm thankful for some great CD & Rewards Checking deals I found at DA.com this year and especially last year, and for the insights and the occasional humor (intentional or not), of several posters here.
Bat Masterson
  |     |   Comment #15
Jumped in with both feet on that NFCU 3.5% five year. I'm over my head and over the NCUA limit, counting on NFCU's size and VERY high rating at Weiss (the highest). So far no regrets or worries. Would do it all over again with even more money if I had it.
  |     |   Comment #22
Actually, the bigger the credit union the more likely you are to lose uninsured deposits.
Since NFCU is the largest credit union in the US, no other credit union could absorb it.
So, the NCUA would have to slice and dice it's assets and liabilities among several credit unions.
And, you can bet that they wouldn't be accepting any of the uninsured deposits.
Which means that the NCUA would be left holding the bag.
And, they'd just point-out to you they have no responsibility to protect deposits of the limits.
  |     |   Comment #28
If NCUA or the board of NFCU have any concern they could curtail lending activities, etc. that are driving need for funds and "high" CD rates...look at what the NCUA did to PenFed to slow it down. Sooooooooooo, why is NCUA letting NFCU get a "free pass" when it took earlier/adverse action against PenFed?
  |     |   Comment #43
LOL, to think that the biggest and the highest-rated CU in the US would go belly up.
  |     |   Comment #29
If they allow it, add POD to get 250k of coverage per beneficiaries
Predatory Depositor
  |     |   Comment #40
It's a roll of the dice. Two years from now this may or may not look like a very good rate. If it doesn't, you'll have three more long years to regret it.
  |     |   Comment #41
No regrets from those of us that ladder our CDs.
  |     |   Comment #49
Put beneficiaries on your CDs to get around the limits. Example, put 5 on a single CD and each beneficiary gives you 250k of insurance, x5, so there's no reason to not be fully insured. You can add them now, then you really don't need to worry.
  |     |   Comment #16
Thank you Ken for all the currant and frequently updated data concerning interest rates you have provided though out the year.

Particularly NFCU and PSECU. They have been a life, no, rather a money saver for me this year.
  |     |   Comment #19
Thank you again for your hard work and dedication to enriching so many people you probably will never meet.
  |     |   Comment #20
thank you ken , you are the best,
  |     |   Comment #24
I have been using this site for quite some time and am thankful that ken has this blog to keep us informed of cd specials … THANKs Ken
Squad 51
  |     |   Comment #25
I'm thankful that I retired from the crazy rat race and have a great pension and now SS.
God luck to all you working weenies.
Bozo Indicator
  |     |   Comment #42
Thankful for all the wonderful deals from all the wonderful FIs (TM) some of which were not even mentioned here. Happy holidays!
  |     |   Comment #46
On April 1, 2019, Ukrainian Self-Reliant Federal Credit Union, Philadelphia, offered a 5 year CD at 2.9% with at a $75,000 balance, including a step-up feature. Easy membership requirement. Dividend checks have to be mailed, however.
  |     |   Comment #48
I was able to catch Navy, NASA, and PSECU great rates when they came up this year thanks to this site. The best deal ever was the PenFed 10 year at 5% that sadly will mature in 2021. I also learned about that through here. So thanks for keeping us informed!
  |     |   Comment #50
I opened most of the CDs mentioned above and I am eternally grateful, to you, Kevin, for maintaining this site, so well. I know my financial position would not have been the same, had it not been for this site. My co-workers wonder why it is set to my starting home page. They look puzzled. For me, a daily review of all the posts on this blog, has literally been a life changer. Thank you!
  |     |   Comment #51
With all the savings & CD rates tanking, I'm thankful I won't be paying so much tax on the interest. It's nice to earn some interest, but at the same time 1/3 goes right back to taxes.
  |     |   Comment #52
Ken, thanks so much for running such as excellent and informative site! Thanks to Deposit Accounts, I learned of very attractive CD rates at credit unions in my region, central New York state.

I had two CDs mature in November at PurePoint and CapitalOne, neither of which offers a great rate today. Through DepositAccounts, I learned of a 14-month CD at 3.0% at GPO Federal Credit Union, and a 12-month CD at 2.7% at AmeriCu. Opened accounts at each credit union yesterday.

Thanks again! :thumbsup:

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.