bank rates

7-Year CD Pays 2.50% To All Savers

You'll need to join this credit union to enjoy these rates.If you’re using the strategy of buying a CD with the highest rate possible – no matter how long the term – Patelco Credit Union’s 84-month certificate that pays 2.50% APY is worth exploring.

This special 7-year CD pays nearly two-thirds of a percentage point more than the top 5-year deal on our CD Rates Leaderboard.

A $1,000 minimum deposit is required, and there’s a 365-day early-withdrawal penalty.

You have to be a member of Patelco Credit Union to purchase these certificates of deposit. But the northern California-based credit union boasts 270,000 members and allows anyone in the United States to join.

Californians who live or work in a long list of cities and counties detailed on the website are eligible for membership, but if you’re outside of that area, you can apply online for membership and the 84-month CD at the same time.

Click the “nonmembers” opening option, then when you’re asked how you qualify for membership, select the option that says, “Not sure, let Patelco determine my eligibility based on my application.”

You’ll get an email with further instructions, such as joining the Community Association for Engaging Youth, which is one of the credit union’s 1,100 select employer groups.

Members can buy CDs online, over the phone or at a branch. There are 40 locations in the Bay Area.

Learn more about Patelco Credit Union at or call 800-358-8228.

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

Have you ever opened an account at Patelco Credit Union? Share your experience below by making a comment.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (4)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 5.00 out of 5)
4 Existing Comments
  1. Geoff said:
    on July 10th at 01:53 pm

    New members can boost their return slightly more because there is a new member 12 month CD for $1000 at 5%.

    A good deal if you really want to be locked in for that long.

  2. Mike Cetera said:
    on July 10th at 02:20 pm

    Geoff: Thanks for pointing that out.

  3. Darci Swisher said:
    on July 10th at 03:35 pm

    Geoff, I noticed that new member CD too when writing this post. It’s unfortunate that the maximum deposit is $1,000.

  4. Kathy at Bankaholic said:
    on August 14th at 09:01 am

    Patelco has dropped this 84-month rate to 2.00% APY.