bank rates

5-Year CD Lets Montana Kids Earn 8%

Montana parents should take advantage of the unbelievable 60-month CD available to children at Gateway Community Federal Credit Union.

Its “Youth CDs” are paying 8% APY on balances up to $2,000.The Youth CDs at Gateway Community Federal Credit Union are a great way to save for your child's future.

That’s nearly 5 percentage points more than the top, nationally available 60-month CD rates. (See our latest CD Rates Leaderboard.)

Moms and dads can buy one of these CDs for kids under 14 years of age, with an initial deposit of as little as $100. They can then add to it in $100 increments until the $2,000 limit is reached.

These CDs must be purchased in person using the child’s Social Security number. The child must also have a savings account at Gateway Community with a balance of at least $5.

Membership in Gateway Community Credit Union is open to anyone who lives, works or worships in Missoula County or is serviced by Missoula Electric Cooperative or Blackfoot Telecommunications Group.

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

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Comments (4)
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4 Existing Comments
  1. CrankySaver said:
    on October 28th at 04:06 pm

    The Federal Reserve seems determined to drive interest rates lower by purchasing another big chunk of government debt. It hopes to make the already abysmal return on Treasury bills and other long-term loans even worse on the questionable assumption that the lure of cheap money will make corporate America more likely to borrow, expand and hire. But I don’t think pushing record low interest rates even lower will turn our sputtering recovery into a roaring, job-creating machine. Don’t miss this and all of the other recent posts on our Personal Finance blog, which you can always reach by clicking on the “Finance” tab at the top of every page.

  2. CandyCane said:
    on October 29th at 01:05 pm

    What CrankySaver is describing is basically deflation. Borrowers, Corporations and HomeBuyers, are just going to wait to borrow or buy , thinking that prices and rates will continue to go down. If this continues, we will be in a worse situation than Japan’s deflationary debacle. I fail to see the logic the Feds are using to sytematically destroy all existing saver’s nesteggs and asking the savers to subsidize this madness.

  3. abe said:
    on November 6th at 12:36 pm

    The Federal Reserve Bank of the United States of America is forcing interest rates so low that grandma will be forced to move her money into more risky assets. And those assets, such as equities/bonds/real-estate are expensive and vulnerable to a correction.

    Guess who’s going to be left holding the bag if stocks take a downturn. Will it be Goldman Sachs, Bank of America, … ? No, of course not, they have the inside knowledge and expertise to jump out of the stock market at the slightest hint of trouble.

    Grandma will be left stunned like a deer staring into the headlights and her precious savings will be lost.

    Thanks alot FEDERAL RESERVE for destroying American’s savings. And thank you Congress and Mr. President for permitting the Federal Reserve to do this. Yes people, your Congress and your President have the power to stop this … but they don’t.

    So much for “government for the people, by the people, and of the people”.

  4. Kathy at Bankaholic said:
    on March 2nd at 09:00 am

    Gateway is still offering this amazing rate for 60-month Youth CDs as of March 2, 2011.