1.76% Continues To Lead 1-Year CD Rates

It seems no one is interested in challenging Melrose Credit Union, which has held the top spot in our rankings of the best 12-month CD rates since July 1.

It continues to pay an unbeatable 1.76% APY – about a quarter-point more than the next best 12-month CDs — with a minimum deposit of $5,000.

Melrose, which has a single location in Queens, N.Y., has an unusual open charter that allows all U.S. residents, no matter where they live or work.

The membership fee is only $1, you can apply online, and we haven’t received a single complaint about the credit union’s customer service.

The next best nationally available 12-month certificate of deposit earns 1.55%, with no minimum balance, from Sallie Mae Bank, the online bank owned by the big student loan lender.

After that you’ll find five banks offering 1.50% APY:

AmTrust Direct, an onine division of New York Community Bank, with a $1,000 minimum deposit.

Ascencia Bank, a division of PBI Bank in Louisville, Ky., with a $500 minimum deposit.

CapitalOne Bank, which has 700 branches in Connecticut, New Jersey, Louisiana, New York and Texas, with a $5,000 minimum deposit.

Discover Bank, an online bank owned by Discover Card, with a $2,500 minimum deposit.

H &R Block Bank, owned by the income tax preparation company, requires a $250 minimum deposit.

Compare these returns with the best CD rates from scores of other banks in our extensive database.