Why You Should Think Twice About Freezing Your Credit
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Venmo Looks Ready to Take Victory Lap in P2P RaceCD Rates Summary September 12, 2017
POSTED ON BY Ken Tumin
The odds of a December Fed rate hike went up a little from last week. Some of that increase may be attributable to speeches by Fed officials. Cleveland Fed President Loretta Mester and New York Fed President William Dudley. Economist Tim Duy interpreted Mester’s view about rate hikes in his Fed Watch blog:
Mester's commitment to the faith on the inflation forecast means that as of now, she is probably sticking with the current rate path, including a December hike.
Duy summed up the speech by Dudley, who is influential at the Fed, by saying:
Fundamentally, Dudley wants to keep hiking as long as financial conditions keep easing.
Duy then summed up both speeches as support for a December rate hike:
Bottom Line: Hawks are still pushing for additional rate hikes, holding to the story that low inflation is all about transitory factors. This I think remains the dominant position on the FOMC.
We’ll know more about current state of inflation in the next few days. The Bureau of Labor Statistics is scheduled to release the Producer Price Index (PPI) for August on Wednesday and the Consumer Price Index (CPI) for August on Thursday. The consensus is an increase for both PPI and CPI. If these inflation indexes match or exceed the consensus numbers, the odds of a December rate hike should improve.
Another thing that may help us get more Fed rate hikes next year are additional inflation hawks at the Fed. With the resignation of Fed Vice Chairman Stanley Fischer (which is effective on October 13, 2017), President Trump will have four Board of Governor positions at the Fed to fill. In addition, he may decide to replace Janet Yellen as Fed Chair when her term expires in February. So far, President Trump has nominated only one person for a board member. That one Fed nomination is Randal Quarles, who was recently approved by the Senate Banking Committee last week.
The odds of a December Fed rate hike as indicated by the Fed funds futures went up a little this week. The odds of at least one more rate hike this year increased from 36.9% to 41.9%.
Most Treasury yields went up from last week. The primary exception is the 1-month T-Bill. Its yield shot up last Tuesday, but this didn’t last. The yield went back down to a value that was close to what it was before. The largest increase in yield was on the 5-year and 10-year Treasury notes. Both increased 10 bps from last week.
The following numbers are based on Daily Treasury Yield Curve Rates and the CME Group FedWatch.
Treasury Yields:
- 1-month: 0.99% down from 1.30% last week (0.52% on Jan 3)
- 6-month: 1.16% up from 1.13% last week (0.65% on Jan 3)
- 2--year: 1.33% up from 1.30% last week (1.22% on Jan 3)
- 5--year: 1.75% up from 1.65% last week (1.94% on Jan 3)
- 10-year: 2.17% up from 2.07% last week (2.45% on Jan 3)
- 30-year: 2.78% up from 2.69% last week (3.04% on Jan 3)
Fed funds futures' probabilities of future rate hikes by:
- Sep 2017 - up by at least 25bps: 0% same as last week
- Dec 2017 - up by at least 25bps: 41.9% up from 36.9% last week
- Dec 2017 - up by at least 50bps: 0.8% up from 0.7% last week
- Dec 2017 - down by 25bps: 0.8% down from 0.9% last week
- Jun 2018 - up by at least 25bps: 59.9% up from 50.7% last week
Certificate of Deposit Rates
Several banks and credit unions came out with higher CD rates in September. That’s a positive sign considering the uncertainty over the December Fed rate hike.
Popular Direct increased its 2-year CD rate (1.85% APY) and 5-year CD rate (2.45% APY) to be at or near the top spots for banks.
GS Bank’s recent 5-year CD rate increase puts its 5-year CD rate (2.40% APY) just behind Popular Direct’s.
Credit unions continue to offer better CD deals. Several credit unions came out with new CD specials in September
Veridian Credit Union’s new CD specials include a 25-month CD (2.02% APY for $100k minimum) and a 39-month CD (2.17% APY for $100k).
USALLIANCE Financial ended its special Cooperative Rewards CDs in September, but it came out with higher rates on its longer-term CDs. It now holds the top spot or a 3-year term (2.17% APY, 36-month), and its 25-month CD rate (2.00% APY 25-month) is near the top for 2-year terms. Please see this blog post for a review of USALLIANCE and these CDs.
United States Senate Federal Credit Union increased its 5-year CD rates. Its Jumbo 5-year rate (2.55% APY for $60k minimum) is now just below the nationally-available rate leader, Mountain America Credit Union (2.60% APY for $500 minimum).
AgFed Credit Union came out with another one of its special no-penalty CDs. This new one has a 30-month term with a 1.85% APY. One withdrawal may be made during the original term of the CD with no penalty. Due to the no-penalty feature, this CD can be made into any term, from 7 days to 30 months. Thus, I’ve included it in the tables below for all terms of 3-years and under. The 1.85% APY makes it a great deal for terms under 18 months.
Below is my standard explanation of the strategy of using long-term CDs with mild early withdrawal penalties and how I include these effective yields in the tables below.
An alternative to short-term CDs is long-term CDs that have mild early withdrawal penalties. I include the effective yields of a few long-term CDs when closed early in the tables below. All of these have competitive long-term CD rates and an early withdrawal penalty of 6 months of interest or less. The combination of a high long-term CD rate combined with a mild early withdrawal penalty makes these CDs pretty good deals even when closed early. If you want to compare the effective yields of other CDs after the early withdrawal penalties, please refer to our CD Early Withdrawal Penalty calculator.
The risks of planning for early withdrawals of long-term CDs were highlighted by the deposit agreement change at Ally. The risks have also been seen at credit unions which have raised the early withdrawal penalties on existing CDs. I have more details in this blog post.
Savings & Checking Account Rates
In the past I’ve covered savings and checking account rate changes in another weekly summary post. Each week I would publish one post with a recap of savings and checking account rate changes and another post with a recap of CD rate changes. Since there aren’t a lot of rate changes, I’m now alternating these posts. This week I’ll just publish this CD summary. Next week I’ll just publish the savings/checking summary. For both summaries I’ll include the same economic overview. Here's the link to last week's savings/checking account summary. You can always get the latest rates for savings/checking accounts and CDs by using our rate tables, available via the navigational menu on top.
Yields Accurate as of September 12, 2017
Under 1-Year CD Rates
| Institution | Rates | Notes |
|---|---|---|
| Navy Federal Credit Union | 3.00% ($10k max) 5-month Certificate Special | Military relationship Account review |
| AgFed Credit Union | 1.85% ($1k) 30-month No Penalty CD | One withdrawal may be made during the original term with no penalty |
| Advancial | 1.63% ($50k) 6-month Jumbo Certificate | Easy membership Account review |
| Veridian Credit Union | 1.61% 9-month Jumbo CD ($100k) | Easy membership Account review |
| Crestmark Bank | 1.55% ($100k), 1.30% ($25k) 9-month CD | Account review |
| Veridian Credit Union | 1.51% 9-month CD Special | Easy membership Account review |
| Ally Bank | 1.50% ($25k), 1.25% ($5k) 11-month No Penalty CD | Internet bank See review |
| Crestmark Bank | 1.50% ($100k), 1.25% ($25k) 6-month CD | Account review |
| The Vanguard Group Brokered CD | 1.40% 9-month non-callable CD | Issued by BoC* |
| Fidelity Brokered CD | 1.40% 9-month non-callable CD | Issued by BotW* |
| First Internet Bank | 1.32% 6-month CD | Easy membership See review |
| EverBank | 1.31% (1yr intro rate, up to $250k) 0.86% ongoing rate | MMA - Account review |
| The Vanguard Group Brokered CD | 1.30% 6-month non-callable CD | Issued by BoC, SMB* |
| Fidelity Brokered CD | 1.30% 6-month non-callable CD | Issued by BoC, SMB* |
| The Palladian PrivateBank | 1.30% Savings Account promo 6-month rate ($10K min/$500K max) | See review |
| HSCB | 1.25% Promo Premier Savings (rate guaranteed through 8/31/17) | See review |
| Salem Five Direct | 1.25% eOne Savings (rate guarantee through 7/1/18) | See review |
| EverBank | 1.21% (1yr intro rate, up to $250k) 0.71% ongoing rate | Checking - Account review |
Noteworthy Local Deals - Under 1-Year CDs
| Citizens Community Credit Union | 1.55% 280 to 912 Days Lifestyle CD | NE North Dakota See review |
| Maine Highlands Credit Union | 1.51% 6-month IRA Certificate | Piscataquis County and 12 central Maine communities See review |
| Blue Gate Bank | 1.51% ($25k) MMA (rate guarantee through 1/31/2018 | Southern California See review |
| United Bank | 1.36% Online Advantage MMA (6-month rate guarantee) | 25 states See review |
| Wright-Patt Credit Union | 1.32%($100k) 6-22 month Share Certificate | 10 Ohio counties See review |
| Triangle Credit Union | 1.30% 9-month CD Special | 5 NH and 4 MA counties See review |
| EastBank | 1.25% 7-month Special CD | NYC See review |
| Providence Bank | 1.25% 9-month CD Special | Missouri and southwest Illinois See review |
| Synergy Bank, SSB | 1.20% 10-month CD Special ($10k | Dallas/Fort Worth area |
1-Year CD Rates
| AgFed Credit Union | 1.85% ($1k) 30-month No Penalty CD | One withdrawal may be made during the original term with no penalty |
| Advancial | 1.78% ($50k) 1-year Jumbo Certificate | Easy membership Account review |
| Crestmark Bank | 1.70%($100k), 1.45 ($25k) 12-month CD | Account review |
| Pacific National Bank | 1.60% 12-month CD | See review |
| TIAA Direct | 1.60% 12-month CD | Internet bank See review |
| EverBank | 1.60% 1-year Yield Pledge CD | Internet bank See review |
| Popular Direct | 1.60% ($10k) 1-year Popular Direct CD | Internet bank See review |
| First Internet Bank | 1.57% 12-month CD | Internet bank See review |
| Air Force Federal Credit Union | 1.56% 1-year Share Certificate | Easy membership Account review |
| VirtualBank | 1.56% ($10k)12-month eCD | Internet bank See review |
| KS StateBank | 1.55% ($100k) 1-year Jumbo CD Internet Only Special | See review |
| State Bank of Texas | 1.55% ($100k) 1.45% ($25k) 12-month CD | See review |
| My e-BAnC by BAC Florida Bank | 1.55% ($100k) 12-month Jumbo Time Deposit | See review |
| Amboy Direct | 1.51% ($10k min/$250k max) 12-month eSavings CD | See review |
| Northwest Federal Credit Union | 1.51% ($250k), 1.41% ($100k) 1-year CD | Easy membership See review |
| Service Credit Union | 1.50% 11-month Certificate Special | Limited membership See review |
| SallieMae Bank | 1.50% 12-month CD | Account review |
| BankDirect | 1.50% ($10k) 12-month CD | Account review |
| Ally Bank | 1.50% ($25k), 1.25% ($5k) 11-month No Penalty CD | Internet bank See review |
| The Vanguard Group Brokered CD | 1.50% 1-year non-callable CD | Issued by BoC* |
| Fidelity Brokered CD | 1.50% 1-year non-callable CD | Issued by BoC* |
Noteworthy Local Deals - 1-Year CDs
| Red Rocks Credit Union | 2.00% ($100k), 1.75% ($50k), 1.50% ($10k) 12-month Share Certificate | Colorado See review |
| First National Bank | 1.75% ($10k) 13-month CD Special w/checking | MD, NC, OH, PA, SC, and WV See review |
| Island Federal Credit Union | 1.75% 11-month Certificate Special | Long Island, NY See review |
| First Bank & Trust | 1.73% ($100k) 14-month Jumbo CD Special | Chicago See review |
| Mutual Federal Bank | 1.71% 11-month Certificate Special | Chicago metro area See review |
| Texas Exchange Bank | 1.61% ($10k) 12-month New Money CD | Texas See review |
| Mercantil Commercebank | 1.61% 12-month Online Smart CD | Florida and Texas See review |
| P1FCU | 1.61% 12-month Share Certificate Special | 11 Idaho and 2 Washington counties |
| Bankers Trust Company | 1.60% (base rate) 10-month Promotional CD | Cedar Rapids/Des Moines, IA and Phoenix, AZ See review |
| Frankenmuth Credit Union | 1.60% 13-month CD Special | Michigan See review |
| Northfield Bank | 1.60% 14-month CD | Northern New Jersey and NYC See review |
| Member One Federal Credit Union | 1.60% ($25k) 14-month CD | Southwest Virginia See review |
| IC Federal Credit Union | 1.59% 1-year Relationship CD Special | 6 Massachusetts counties See review |
| Pioneer Federal Credit Union | 1.55% 13-month CD Special | 13 SW Idaho counties See review |
| AmeriCU | 1.55% ($100k) 12-month Jumbo Partner Certificate | 9 Upstate New York Counties See review |
| General Electric Credit Union | 1.55% ($100k) 1-year Jumbo CD | Southwest Ohio |
| Bayer Heritage Federal Credit Union | 1.51% 12-23 month Share Certificate | Portions of OH, SC, WV; Bayer Corporation employees See review |
| Seasons Federal Credit Union | 1.51% 14-month Featured Certificate | Middlesex County, CT See review |
18-month CD Rates
| Veridian Credit Union | 1.91% 15-month Jumbo CD ($100k) | Easy membership See review |
| Advancial | 1.89% ($50k) 18-month Jumbo Certificate | Easy membership Account review |
| AgFed Credit Union | 1.85% ($1k) 30-month No Penalty CD | One withdrawal may be made during the original term with no penalty |
| Veridian Credit Union | 1.81% 15-month CD Special | Easy membership See review |
| Crestmark Bank | 1.75% ($100k), 1.50% ($25k) 18-month CD | Account review |
| Atlantic Stewardship Bank | 1.70% Special 20-month Power CD | Account review |
| Popular Direct | 1.70% ($10k) 18-month Popular Direct CD | Internet bank |
| TIAA Direct | 1.67% 18-month CD | Internet bank See review |
| EverBank | 1.67% 1.5-year Yield Pledge CD | Internet bank See review |
| Ally Bank | 1.64% (2.25% High Yield 5-Year CD closed after 18 months) | See review |
| EBSB Direct | 1.61% 19-month CD | Internet bank See review |
| NASA Federal Credit Union | 1.60% 15-month CD Special | Easy membership See review |
| Northpointe Bank | 1.60% 15-month CD Special | See review |
| KS StateBank | 1.60% ($100k) 18-month Jumbo CD Internet Only Special | See review |
| Fidelity Brokered CD | 1.60% 18-month non-callable CD | Issued by ALLY, BoH, CB, CCB, EBSB, GSB, FBPR, MBFB* |
| Signal Financial Federal Credit Union | 1.60% (2.40% 60-month CD closed after 18 months) | Easy membership requirements |
| The Vanguard Group Brokered CD | 1.40% 18-month non-callable CD | Issued by WFB* |
Noteworthy Local Deals - 18-Month CDs
| Cedar Falls Community Credit Union | 2.01% 15-month Jumbo Certificate | 7 Iowa counties See review |
| University of Iowa Community Credit Union | 2.00% ($250k), 1.90% ($100k), 1.80k ($1k) 16-month CD Special | All of Iowa and 4 Illinois counties, University of Iowa relationship See review |
| PathFinder Bank | 1.80% 17-month Fall CD Special | 14 central New York counties See review |
| First United Credit Union | 1.80% 18-month CD Special (checking relationship) | 23 West Michigan counties See review |
| Members Choice Credit Union | 1.80% ($50k),1.70% ($500) 18-month CD Special | Houston, Texas area See review |
| Washington Trust | 1.80% 18-month CD w/checking | Rhode Island, Connecticut, Massachusetts See review |
| Republic Bank | 1.80% 19-month CD | Chicago metropolitan area See review |
| Wright-Patt Credit Union | 1.77%($100k),1.67% ($500) 19-month Share Certificate Exclusive | 10 Ohio counties See review |
| Old Missouri Bank | 1.76% 19-month CD | Missouri See review |
| National Bank of New York City | 1.75% 18-23 month CD | NYC, Long Island, Westchester See review |
| Georgetown Bank | 1.75% ($10k) 18-month Classic CD Special | Massachusetts and southern New Hampshire See review |
| Ion Bank | 1.75% 19-month CD Special w/checking | Connecticut See review |
| ConnectOne Bank | 1.71% 15-month Personal CD Special | New Jersey and New York See review |
| Collins Community Credit Union | 1.71% ($250k), 1.66% ($100k), 1.61% ($50k) 15-month CD Special | 38 eastern Iowa counties See review |
| Hanover Community Bank | 1.70% 15-month CD | NYC metropolitan area See review |
| Michigan Schools and Government Credit Union | 1.70% 18-month CD | Michigan's Lower Peninsula See review |
| First United Credit Union | 1.70% 18-month CD Special | 23 West Michigan counties See review |
2-Year CD Rates
| Veridian Credit Union | 2.02% 25-month Jumbo CD ($100k min) | Easy membership |
| Advancial | 2.00% ($50k) 2-year Jumbo Certificate | Easy membership Account review |
| USAlliance Financial | 2.00% 25-month Certificate | Easy membership Account review |
| Veridian Credit Union | 1.91% 25-month Special CD | Easy membership |
| AgFed Credit Union | 1.85% ($1k) 30-month No Penalty CD | One withdrawal may be made during the original term with no penalty |
| InsBank | 1.85% 23-month CD | See review |
| Popular Direct | 1.85% ($10k) 2-year Popular Direct CD | Internet bank See review |
| GiftsforBanking.com | 1.85% ($25k) 2-year CD Gifts | Internet bank See review |
| Crestmark Bank | 1.85% ($100k), 1.60% ($25k) 24-month CD | Account review |
| First Internet Bank | 1.81% 24-month CD | Easy membership See review |
| TIAA Direct | 1.81% 24-month CD | Internet bank See review |
| EverBank | 1.81% 2-year Yield Pledge CD | Internet bank See review |
| VirtualBank | 1.81% ($10k) 2-year eCD | Internet bank See review |
| Signal Financial Federal Credit Union | 1.80% 24-month Bump-Up CD | Easy membership Account review |
| Air Force Federal Credit Union | 1.80% 2-year Share Certificate | Easy membership Account review |
| Signal Financial Federal Credit Union | 1.80% (2.40% 60-month CD closed after 2 years) | Easy membership requirements |
| Ally Bank | 1.79% (2.25% High Yield 5-Year CD closed after 2 years) | See review |
| KS StateBank | 1.78% ($100k) 2-year Jumbo CD Internet Only Special | See review |
| SallieMae Bank | 1.77% (60-month CD closed after 2 years) | Account review |
| Northwest Federal Credit Union | 1.76% ($250k), 1.66% ($100k) 2-year CD | Easy membership See review |
| Bethpage Federal Credit Union | 1.75% 25-month Certificate | Easy membership See review |
| Fidelity Brokered CD | 1.75% 2-year non-callable CD | Issued by FBPR* |
| The Vanguard Group Brokered CD | 1.75% 2-year non-callable CD | Issued by CCB* |
| Nationwide Bank | 1.75% ($100k), 1.70% ($500) 24-month CD | Internet bankSee review |
Noteworthy Local Deals - 2-Year CDs
| Red Rocks Credit Union | 2.25% ($100k), 2.00% ($50k), 1.75% ($10k) 24-month Share Certificate | Colorado See review |
| Adventure Credit Union | 2.05% 23-month CD Special | 11 west Michigan counties See review |
| Collins Community Credit Union | 2.01% ($250k), 1.96% ($100k), 1.91% ($50k) 28-month CD Special | 38 eastern Iowa counties See review |
| Primary Bank | 2.00% 2-year Anniversary CD | New England See review |
| Truity Credit Union | 2.00% 23-month CD Special | Parts of Oklahoma, Arkansas, Kansas See review |
| Ferguson Federal Credit Union | 2.00% 24-month CD Special | 12 southwest Mississippi counties See review |
| Bank of Sun Prairie | 2.00% ($10k) 24-month CD Promotion | Wisconsin See review |
| TCF Bank | 2.00% 26-month Promotional CD | AZ, CO, IL, MI, and WI See review |
| First Federal Credit Union | 2.00% 29-month CD Special | Linn County, Iowa See review |
| Hanover Community Bank | 1.85% 29-month CD | Nassau, Suffolk, Queens, and Kings Counties, New York See review |
| Greater Iowa Credit Union | 1.81% 22-month CD Special | 33 Iowa counties See review |
| Westerra Credit Union | 1.80% ($10k) 25-month Bump-Up/Add-On CD | 7 Colorado counties See review |
| Pioneer Federal Credit Union | 1.80% 25-month CD Special | 13 SW Idaho counties See review |
| Sandy Spring Bank | 1.80% ($10k) 27-month Premier CD Special | Maryland and Northern Virginia See review |
3-Year CD Rates
| USAlliance Financial | 2.17% 36-month Certificate | Easy membership Account review |
| Veridian Credit Union | 2.17% ($100k) 39-month Jumbo Special CD | Easy membership See review |
| Advancial | 2.11% ($50k) 3-year Jumbo Certificate | Easy membership Account review |
| Service Credit Union | 2.05% 30-month CD Special | Military relationship See review |
| Veridian Credit Union | 2.01% ($1k) 39-month Special CD | Easy membership See review |
| Signal Financial Federal Credit Union | 2.01% (2.40% 60-month CD closed after 3 years) | Easy membership requirements |
| INOVA Federal Credit Union | 2.00% 30-month Certificate | EMR See review |
| Salem Five Direct | 2.00% 36-month eCD | See review |
| Connexus Credit Union | 2.00% 36-month Share Certificate | Easy membership (Added to Summary on 3/30) See review |
| TIAA Direct | 2.00% 36-month CD | Internet bank See review |
| EverBank | 2.00% 3-year Yield Pledge CD | Internet bank See review |
| GS Bank | 2.00% 3-year CD | |
| Kinecta Credit Union | 2.00% ($100k) 30-month Jumbo Share Certificate | Easy membership See review |
| Crestmark Bank | 2.00% ($100k), 1.75% ($25k) 36-month CD | Account review |
| KS StateBank | 1.98% ($100k) 3-year Jumbo CD Internet Only Special | See review |
| SallieMae Bank | 1.97% (60-month CD closed after 3 years) | Account review |
| M.Y. Safra Bank | 1.96% 36-month Online Promo CD | See review |
| Hope Federal Credit Union | 1.96% ($95k) 36-month Jumbo Share Certificate | |
| Ally Bank | 1.95% (2.25% High Yield 5-Year CD closed after 3 years) | See review |
| Fidelity Brokered CD | 1.95% 3-year non-callable CD | Issued by BCB* |
| First Internet Bank | 1.94% 36-month CD | Easy membership See review |
| iGObanking | 1.90% 36-month iGOCD | See review |
| Popular Direct | 1.90% ($10k) 3-year Popular Direct CD | Internet bank |
| AgFed Credit Union | 1.85% ($1k) 30-month No Penalty CD | One withdrawal may be made during the original term with no penalty |
| The Vanguard Group Brokered CD | 1.85% 3-year non-callable CD | Issued by AMEX CB, AMEX FS, COBNA, COBUSA, GSB* |
Noteworthy Local Deals - 3-Year CDs
| University of Iowa Community Credit Union | 2.60% ($250k), 2.50% ($100k), 2.40% ($1k) 35-month CD Special | All of Iowa and 4 Illinois counties, University of Iowa relationship See review |
| InvesTex Credit Union | 2.25% 3-year Promo Rate CD | North Houston, Texas area See review |
| Triangle Credit Union | 2.25% 35-month CD Special | 5 NH and 4 MA counties See review |
| Primary Bank | 2.25% 3-year CD | New Hampshire See review |
| East Boston Savings Bank | 2.21% 30-month CD | Boston metropolitan area See review |
| Farmers State Bank | 2.15% 39-month CD | 3 NE Iowa counties See review |
| BTH Bank | 2.10% 30-month Worry-Free CD | Texas See review |
| Mercantil Commercebank | 2.10% 36-month Online Smart CD | Florida and Texas See review |
| Citadel | 2.10% 36-month CD Special | 5 southeast Pennsylvania counties See review |
| Perpetual Federal Savings Bank | 2.07% 36-month CD | Central Ohio See review |
| Firelands Federal Credit Union | 2.06% 36-month Promotional Certificate | 5 northcentral Ohio counties See review |
| First Ipswich Bank | 2.05% 30-month CD Special | Massachusetts' North Shore and Cape Ann See review |
| 1st Gateway Credit Union | 2.05% 40-month CD Special | Eastern Iowa, Western Illinois |
| Haverhill Bank | 2.02% 36-month CD | NE Massachusetts and nearby New Hampshire See review |
| VITAL Federal Credit Union | 2.01% 36-month CD | Spartanburg County, South Carolina See review |
| American United Federal Credit Union | 2.00% 36-month Share Certificate (bump rate or 0.10% rate increase) | Salt Lake and Tooele Counties, Utah See review |
| Grow Financial Federal Credit Union | 2.00% 30-36 month Share Certificate | EMR in FL, NC, SC; military relationship See review |
| Vibrant Credit Union | 2.00% 33-month CD Special | Iowa, Illinois Quad Cities area |
| Fairport Savings Bank | 2.00% 35-month CD Special | New York State See review |
4-Year CD Rates
| Hanscom Federal Credit Union | 2.50% 48-month Certificate w/Premier Checking | Easy membership See review |
| Advancial | 2.29% ($50k) 4-year Jumbo Certificate | Easy membership Account review |
| American Heritage Federal Credit Union | 2.26% 48-month Share Certificate | EMR See review |
| NASA Federal Credit Union | 2.25% 49-month CD Special | |
| Capitol Federal Savings Bank | 2.25% 50-months Traditions CD Special | See review |
| USAlliance Financial | 2.22% 348-month Certificate | Easy membership Account review |
| TIAA Direct | 2.16% 48-month CD | Internet bank See review |
| EverBank | 2.16% 4-year Yield Pledge CD | Internet bank See review |
| Northern Bank Direct | 2.15% 48-month CD | Internet bank See review |
| Latino Credit Union | 2.15% 48-month CD | Easy membership See review |
| Third Federal Savings and Loan | 2.15% 49-month CD Special | See review |
| Signal Financial Federal Credit Union | 2.12% (2.40% 60-month CD closed after 4 years) | Easy membership requirements |
| Mountain America Credit Union | 2.10% 4-year Term Deposit | Easy membership |
| Fidelity Brokered CD | 2.10% 4-year non-callable CD | Issued by AMEX FS, AMEX CB, BMW, CCB, COBNA, COBUSA* |
| First Internet Bank | 2.07% 48-month CD | Internet bank See review |
| Melrose Credit Union | 2.07% 4-year Share Certificate | Currently operating under an NCUA conservatorship |
| SallieMae Bank | 2.07% (60-month CD closed after 4 years) | Account review |
| Crestmark Bank | 2.05% ($100k), 1.80% ($25k) 48-month CD | Account review |
| M.Y. Safra Bank | 2.05% 48-month Online Promo CD | See review |
| Ally Bank | 2.03% (2.25% High Yield 5-Year CD closed after 4 years) | See review |
Noteworthy Local Deals - 4-Year CDs
| InvesTex Credit Union | 2.50% 4-year Promo Rate CD | North Houston, Texas area See review |
| Institution for Savings | 2.50% ($250k) 4-year Money Market CD (also requires $250K in MMA) | Parts of Massachusetts |
| Tech Credit Union | 2.43% ($100k) 50-month Jumbo Compound CD | 4 NW Indiana and 2 NE Illinois counties See review |
| Pelican State Credit Union | 2.41% 48-month CD | Rapides Parish, LA; EMR in AR, LA, MS, TX See review |
| Jefferson Financial Credit Union | 2.38% ($10k) 48-month Share Certificate | 4 Louisiana Parishes See review |
| Deere Employees Credit Union | 2.35% 48-month Share Certificate | Employees and retirees of Deere & Company See review |
| IH Mississippi Valley Credit Union | 2.32% 48-month CD | 18 Illinois and 10 Iowa counties See review |
| Tech Credit Union | 2.30% 50-month Premium Compound CD | 4 NW Indiana and 2 NE Illinois counties See review |
| Bayer Heritage Federal Credit Union | 2.28% 48-59 month Share Certificate | Portions of OH, SC, WV; Bayer Corporation employees See review |
| Perpetual Federal Savings Bank | 2.28% 48-month CD | Central Ohio See review |
| Pioneer Valley Credit Union | 2.27% 49-month Share Certificate Special | Easy membership requirement in CT, MA, NH, NY, RI, VT See review |
| ASI Federal Credit Union | 2.27% 48-month CD | Greater New Orleans metro area See review |
5-Year CD Rates
| Mountain America Credit Union | 2.60% 5-year Term Deposit | Easy membership |
| United States Senate Federal Credit Union | 2.55% ($60k), 2.49% ($20k), 2.43% ($1k) 60-month CD | Easy membership |
| Langley Federal Credit Union | 2.53% (w/Active Rewards), 2.43% (w/o Active Rewards) 60-month CD | Easy membership Account review |
| Advancial | 2.49% ($50k) 5-year Jumbo Certificate | Easy membership Account review |
| State Bank of India (IL) | 2.48% ($50k) 5-year Senior CD | |
| Popular Direct | 2.45% ($10k) 5-year Popular Direct CD | Internet bank |
| Hope Federal Credit Union | 2.43% ($95k) 60-month Jumbo Share Certificate | |
| Melrose Credit Union | 2.42% 5-year Share Certificate | Currently operating under an NCUA conservatorship |
| GS Bank | 2.40% 5-year CD | |
| Signal Financial Federal Credit Union | 2.40% 60-month CD | Easy membership Account review |
| Utah First Federal Credit Union | 2.40% 60-month CD | Easy membership See review |
| State Bank of India (IL) | 2.38% 5-year CD | |
| Michigan State University Federal Credit Union | 2.38% ($100k) 5-year Jumbo CD | Easy membership Account review |
| SallieMae Bank | 2.35% 60-month CD | Account review |
| Synchrony Bank | 2.35% ($25k), 2.30% ($2k) 60-month CD | Internet bank See review |
| Fidelity Brokered CD | 2.35% 5-year non-callable CD | Issued by CCB* |
| GTE Financial | 2.32% 60-month Certificate | Easy membership Account review |
| First Internet Bank | 2.30% 60-month CD | Easy membership See review |
| TIAA Direct | 2.30% 60-month CD | Internet bank See review |
| EverBank | 2.30% 5-year Yield Pledge CD | Internet bank See review |
| The Vanguard Group Brokered CD | 2.30% 5-year non-callable CD | Issued by AMEX CB, AMEX FS* |
Noteworthy Local Deals - 5-Year CDs
| InvesTex Credit Union | 2.75% 5-year Promo Rate CD | North Houston, Texas area See review |
| Kemba Credit Union | 2.75% 66-month Special CD | 14 SW Ohio, 8 Northern Kentucky, and 2 SE Indiana counties See review |
| First Bank of Tennessee | 2.62% 60-month Quarterly COD | Tennessee See review |
| Pelican State Credit Union | 2.61% 60-month CD | Rapides Parish, LA; EMR in AR, LA, MS, TX See review |
| American United Federal Credit Union | 2.60% 60-month CD (includes 0.10% rate increase) | Salt Lake and Tooele Counties, Utah See review |
| Cyprus Credit Union | 2.60% 60-month CD and Dream CD | Utah See review |
| Shell Federal Credit Union | 2.60% ($50k), 2.55% ($50) 60-month Share Certificate | Harris County, Texas See review |
| Jefferson Financial Credit Union | 2.58% ($10k) 60-month Share Certificate | 4 Louisiana Parishes See review |
| Wasatch Peaks Credit Union | 2.55% 60-month CD | 3 Utah countiesSee review |
| America First Credit Union | 2.55% 60-month Regular Certificate | 5 Utah, 2 Arizona, 2 Nevada counties See review |
| Achieva Credit Union | 2.55% ($75k) 60-month IRA Plus | 10 Florida counties See review |
| Indiana Members Credit Union | 2.53% 60-month CD | Central Indiana Account review |
| Bayer Heritage Federal Credit Union | 2.53% 60-month Share Certificate | Portions of OH, SC, WV; Bayer Corporation employees See review |
| ASI Federal Credit Union | 2.53% 60-month CD | Greater New Orleans metro area See review |
| SouthEast Bank | 2.51% 60-month CD Special | East and Middle Tennessee See review |
| Idaho Central Credit Union | 2.50% 60-month Promo CD | 27 Idaho and 1 Nevada counties See review |
| University Federal Credit Union | 2.50% 60-month CD | Salt Lake County, Utah See review |
| General Electric Credit Union | 2.50% 5-year CD | Southwest Ohio |
| Bank of Utica | 2.50% 5-year CD | Utica, NY area |
| Utah Community Credit Union | 2.50% 60-month Regular CD | Juan, Sanpete, Salt Lake, and Wasatch Counties, Utah See review |
| Granite Credit Union | 2.50% 60-month Certificate | Salt Lake County, Utah See review |
Over 5-Year CD Rates
| Fidelity Brokered CD | 2.60% 10-year non-callable CD | Issued by DIS, GSB* |
| Apple Federal Credit Union | 2.60% 120-month CD | |
| The Vanguard Group Brokered CD | 2.60% 10-year non-callable CD | Issued by GSB* |
| The Vanguard Group Brokered CD | 2.50% 7-year non-callable CD | Issued by DIS* |
| GS Bank | 2.45% 6-year CD | |
| Fidelity Brokered CD | 2.45% 7-year non-callable CD | Issued by DIS, FBHP, GSB* |
| KS StateBank | 2.40% 7-year CD | See review |
| Northrop Grumman Federal Credit Union | 2.38% ($40k) 84-month Bonus Term CD | Easy membership |
| Discover Bank | 2.35% 10-year CD | |
| Elements Financial | 2.30% 10-year CD | Easy membership |
| Apple Federal Credit Union | 2.25% 84-month CD | |
| PenFed Credit Union | 2.22% 7-year Money Market Certificate | Easy membership See review |
| Andrews Federal Credit Union | 2.20% 84-month Share Certificate | See review |
| Elements Financial | 2.15% 7-year CD | Easy membership |
| Navy Federal Credit Union | 2.15% ($100k), 2.10% ($1k) 7-year CD | Military relationship See review |
Noteworthy Local Deals - Over 5-year CDs
| Indiana Members Credit Union | 3.04% 84-month CD | Central Indiana Account review |
| PeoplesChoice Credit Union | 3.04% 120-month CD | York and Cumberland Counties, Maine |
| EFCU Financial | 2.75% 84-month Super 7 Variable Rate CD | 9 Louisiana parishes Account review |
| Black Hills Federal Credit Union | 2.70% ($200k) 7-8 year Ultimate CD (w/checking) | South Dakota See review |
| Sharefax Credit Union | 2.68% ($15k) 80-month Gold Share Certificate | Southwestern Ohio |
| Credit Human (formerly San Antonio Federal Credit Union) | 2.60% 10-year Share Certificate | San Antonio, TX |
| Appalachian Community Credit Union | 2.57% 72-month Share Certificate | 5 TN, 3 VA, 4 KY counties See review |
| Indiana Members Credit Union | 2.53% 84-month CD | 17 Central Indiana counties See review |
| Citizens Bank Minnesota | 2.52% 96-month Share Certificate | Southern Minnesota |
| MidFirst Direct | 2.50% 84-month CD | AZ, AR, CA, CO, FL, MO, NH, NV, NY, OK, TX, WY See review |
| Financial Center First Credit Union | 2.50% 84-month Share Certificate | 10 central Indiana Counties (greater Indianapolis) |
| Island Federal Credit Union | 2.50% 84-month Certificate | Nassau and Suffolk Counties, NY See review |
| First National Bank (PA) | 2.45% 10-year CD Special ($10k) | PA, MD, OH, WV |
*ALLY (Ally Bank), AMEX CB (American Express Centurion Bank), AMEX FS (American Express Federal Savings), BCB (Barclays Bank), BoC (Bank of China), BoH (Bank of Hope), BotW (Bank of the West), CB (Cathay Bank), CCB (Comenity Capital Bank),COBNA (Capital One Bank NA), COBUSA (Capital One Bank USA), DIS (Discover Bank), EBSB (East Boston Savings Bank), FBHP (First Bank Highland Park), FBPR (Firstbank Puerto Rico), GSB (GS Bank), MBFB (MB Financial Bank), SMB (SallieMae Bank), WFB (Wells Fargo Bank)
CDs Removed Due To Low Rates Or Expired Specials
CDs Removed, No Longer Available - Nationwide
| USAlliance Financial | 2.28% 36-month Cooperative Rewards CD | Easy membership Account review |
CDs Removed, No Longer Available - Local
| Argentine Federal Savings | 2.25% 7-month CD Special | Kansas City metro area See review |
| Coastal Heritage Bank | 1.25% 9-month CD | Massachusetts' South Shore |
| CenterBank | 1.70% 17-month Anniversary Special CD | Greater Cincinnati area See review |
| University of Iowa Community Credit Union | 2.20% ($250k), 2.10% ($100k), 2.00% ($1k) 26-month CD Special | All of Iowa and 4 Illinois counties, University of Iowa relationship See review |
| Blue Hills Bank | 2.00% 23-month Bump Up CD Promo | Boston area See review |
| Blue Hills Bank | 2.50% 59-month Bump Up CD Promo | Boston area See review |
CDs Removed, Rate Too Low - National
| GTE Financial | 1.76% 36-month Certificate | Easy membership Account review |
| GTE Financial | 2.02% 48-month Certificate | Easy membership Account review |
| Synchrony Bank | 2.00% ($2k) 48-month CD | Internet bank See review |
| Bay State Savings Bank | 2.00% 48-month CD | |
| Popular Direct | 2.00% ($10k) 4-year Popular Direct CD | Internet bank |
| MutualOne Bank | 2.27% 61-month CD | See review |
| Ally Bank | 2.25% 5-year High Yield CD | Internet bank See review |
CDs Removed, Rate Too Low - Local
| TCF Bank | 1.50% 13-month Promotional CD | AZ, CO, IL, MI, and WI See review |
| West Town Bank & Trust | 1.50% Personal Classic Checking (rate guarantee for one year) | Chicago metro area and Eastern North Carolina See review |
| First Community Credit Union | 0.90% 24-month CD | 5 MO and 3 IL counties, City of St. Louis See review |
| Cornerstone Financial Credit Union | 1.30% ($50k) 36-month Super Jumbo Certificate | EMR in Tennessee and Kentucky See review |
| Cornerstone Financial Credit Union | 1.25% ($25k) 36-month Jumbo Certificate | EMR in Tennessee and Kentucky See review |
| Bayer Heritage Federal Credit Union | 1.77% 36-47 month Share Certificate | Portions of OH, SC, WV; Bayer Corporation employees See review |
I think I shared the anecdote of a year or so back. I was in conversation with my local banker, and asked why CD rates were so horrid. She quite candidly said "you're retail money; we can obtain funds for lending purposes wholesale". So, I replied, "why offer any rates above 2% at all?" She candidly replied, "to draw in new money for cross-marketing." Not surprisingly, folks with new deposit accounts also might have home mortgages, car loans, and credit cards. New money. Regrettably, we're "old money".
Paid off our mortgage, no car loans, credit card paid in full each month. To a bank or credit union, we're not exactly a "target-rich environment".
Note to the NYT, all I want in the morning is a paper, a cup of coffee, and a nice easy chair.
I consider myself somewhat conservative with my investments and have a large percentage in CDs and muni bonds.
With rates I try to find the deals on this site. The best one was with Penfed around 2010. They had a 5% CD for 10 years. I was able to fund it with a large sum and even used funds with a CD I closed and paid an EWP. Have I made mistakes investing? Sure but I'm mostly conservative with my diverse portfolio.
Our manufacturing capacities are continually being outsourced to other countries. Our debt is out of control and unfunded liabilities at all government levels are a major concern.
Glad you have mastered using 0% to payoff various debt and create income.
As usual no specifics. If it's too good to be true it probably is.
I had to chuckle.
That's the difference between us and the Wall Street "insiders" who are always ahead of the game and the "to big to fail" financial institutions never loose.