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UniWyo FCU Offers Worthy Deal On 37-Month CDs

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For savers in Wyoming and northern Colorado, a great mid-term CD deal is on offer from UniWyo Federal Credit Union.

It’s paying 1.86% APY on 37-month certificates, which handily outdoes the top 3-year return of 1.70% APY on our CD Rates Leaderboard of nationally available bank certificates.

A minimum deposit of $250 is required.

Because CD rates can change at any moment, it’s always wise to check Bankrate’s extensive database of the day’s best CD rates to find the latest deals. But we suspect UniWyo’s yield will be tough, if not impossible, to beat. Click here to read more

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Texas Deal On 2-Year CDs Beats Nationally Available Certificates

green_sprig_sprouting_from_cash

Once again, Texas has a CD deal that tops the best national bank returns.

With a $10,000 minimum deposit, Shared Resources Credit Union is paying 1.51% APY on 24 months.

That’s a smidge better than you can do with the best-paying offer of 1.50% APY on our CD Rates Leaderboard of nationally available bank certificates.

It’s also enough to earn Shared Resources its first-ever appearance in our constantly updated roundup of the country’s best-paying credit union and community bank CDs.

Take a look through Bankrate’s extensive database of the day’s best CD rates, and you’ll be hard pressed to find offers better than this.

Membership in Shared Resources is available to anyone who lives within a 10-mile radius of the credit union’s Pasadena location. That means most residents of the eastern Houston area are eligible.

A map of that 10-mile radius is shown on Shared Resources’ website, as is a list of almost 40 affiliated companies whose employees are also invited to join the credit union.

Although existing members can open Shared Resources’ certificates of deposit through the mail, new members must visit the credit union’s single branch to join and open any CDs. Click here to read more

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Brexit Is Killing The Chances For A Fed Interest Rate Raise

Brexit Federal Reserve news

Brexit, the British vote to leave the European Union, was bad news for America’s personal savers.

Concerns about the impact Britain’s move could have on the global economy almost certainly weighed on the Federal Reserve’s decision today not to raise interest rates in July.

The news was the latest in a seemingly endless series of events that have led the Fed, the nation’s bank for banks, to keep interest rates near rock bottom.

The latest non-action by the Fed’s rate-setting committee means that everyone with certificates of deposit, savings or money market bank accounts is once again left waiting for the day when they begin to see better rates of return.

Perhaps the most frustrating part of Wednesday’s news was that the uncertainty caused by the Brexit vote offset generally good news about the health of the U.S. economy.

The healthy U.S. economy

After a weak month of hiring in May, the government’s June jobs report found U.S. employers adding a healthy 287,000 workers to their payrolls. Unemployment was 4.9%.

Wages, which have remained relatively weak even as the economy picked up, are finally showing improvement, climbing by 2.6% so far this year.

Although inflation still remains below the Fed’s target of 2%, a level it believes promotes healthy growth, the other good news could have spurred the nation’s central bankers to action.

But in today’s global economy and financial markets, everything is connected to everything else, and the possibility of a slowdown across the Atlantic raised caution here. Click here to read more

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Take Home 1.27% On 11-Month CDs In The Great Lakes State

Community Choice Credit Union is offering millions of Michigan savers on both sides of the state, as well as employees and retirees of some large Michigan companies, a chance to earn a top rate while waiting on action by the Fed.

The credit union is paying 1.27% APY on 11-month certificates, competing nicely with the best nationally available 12-month yield of 1.26% APY from the banks on our CD Rates Leaderboard.

Take a look through Bankrate’s extensive database of the day’s best CD rates, and you’ll see how hard it is to outearn that yield in under a year.

Membership in Community Choice is open to savers who live or work in nine counties surrounding Detroit and three counties around Grand Rapids.

Community Choice’s membership net is cast even wider to include any employee or retiree of General Motors, AmTrak, Kelly Services or Conrail.

Members of the Detroit Historical Society are also eligible to join, but at $45 for the most basic membership, it’s only a good option for savers wanting to support the society on its own merits.

Joining Community Choice and opening its certificates of deposit can be done online or at one of its 14 suburban Detroit branches or its single west coast branch in Holland. Click here to read more

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2-Year CD Rates Roundup: Earn 1.50% Nationally, 2.25% Locally

24-month CDs

Good news has been sparse for CD savers since the Federal Reserve raised interest rates in December.

Among the seven terms we track on our CD Rates Leaderboard of nationally available bank certificates, every term’s lead but one either hasn’t improved or has declined since the Fed’s hike.

The 2-year lead is among the losers, paying 1.50% APY today versus the 1.52% APY you could earn in December.

This means you’re smart to shop local deals from credit unions and community banks, where the top 2-year deal is paying 2.25% APY right now.

It looks like an improvement in the 24-month national rate will require another nudge from the Fed (or two), which means we’re now left waiting for the next rate increase.

When that will happen is anybody’s guess, but we’ll tell you what to watch for. Click here to read more

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Eight Nationally Available Savings Accounts Pay More Than 1.05%

Hand grabbing money out of a jar

Things may be picking up for savers, with the newly launched Popular Direct offering a savings account paying 1.26% APY — landing it in second place on our Savings Account Leaderboard.

It takes a minimum deposit of $5,000 to open a savings account with Popular Direct, but you don’t have to a keep a certain amount in your account to earn interest. However, if you don’t keep at least $500 in your account, you’ll pay a $4 monthly service fee.

Popular Direct is the new online division of Banco Popular North America, based in New York. It is a subsidiary of Popular Inc., a financial services firm serving the United States, Puerto Rico and the Caribbean.

Popular Direct’s rate is just below the 1.30% APY you can earn with The Palladian PrivateBank, which is paying 1.30% APY for the first six months after you open your account. After the promotional period ends, the rate returns to the regular rate, which currently is 0.90% APY. That gives you a combined annual return of 1.10%. Click here to read more

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CD Leaderboard: Bank of Baroda Takes The Lead On 1- And 3-Year CDs

CD rates Leaderboard

One of the newest additions to our rankings of banks that offer nationally available CDs has just grabbed the lead in two terms.

Bank of Baroda upped its rate sheet this morning to pay 1.30% APY on 12-month certificates and 1.70% APY on 36 months, each with a $1,000 minimum investment.

That’s enough to outdo the previous 12-month and 36-month national leads of 1.26% and 1.66% APY, respectively, from the banks on our CD Rates Leaderboard.

We discovered seven weeks ago that Bank of Baroda had made its certificates of deposit available to savers nationwide with a mail-in process.

Although Bank of Baroda is an Indian bank — that country’s second largest, with branches in 25 countries — the CDs highlighted here are offered by Bank of Baroda’s U.S. branch. Click here to read more

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Savings Bank of Danbury Offers Attractive Bump-Up CD To Connecticut Savers

For 24-Month CDs, A Lull In The Action

For savers waiting to see what the Federal Reserve will (or won’t) do with interest rates over the next year or so, top-paying short-term CDs can be a good bet.

A competitive bump-up certificate could also be a smart move.

Put the two together in one certificate, and Connecticut’s Savings Bank of Danbury is offering a winner.

Its special 15-month promotional CD is paying 1.50% APY with a $1,000 minimum investment and offers the chance to boost the rate once during the certificate’s term.

On our CD Rates Leaderboard of the top nationally available bank returns, the most you can earn on 12 months is 1.26% APY, with 24 months being required to reach 1.50% APY.

Savings Bank of Danbury offers its certificates of deposit to anyone who lives or works in Connecticut. However, new customers are required to open their account at one of the bank’s 14 branches roughly along the I-84 corridor from Danbury to Waterbury. Click here to read more

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Granite CU Offers Tough-To-Beat Deal On 5-Year CDs

piggy-bank-red-bow

If any reader out there can explain what’s going on with Utah’s credit unions, please — clue us in.

In February, an onslaught of Utah institutions virtually simultaneously unveiled 5-year certificate promotions that outpaid the leading national banks with a 2.30% APY return.

Since then, additional Utah credit unions have joined the 60-month party, with seven of them now appearing in our roundup of the nation’s best-paying credit union and community bank CDs.

All of those 5-year CDs are paying between 2.27% and 2.35% APY.

For savers in Salt Lake County, the best yield among these comes from Granite Credit Union.

It’s paying 2.32% APY for a 5-year term, which offers a slight edge over the top nationally available return of 2.27% APY from the banks on our CD Rates Leaderboard.

Of course, it’s always wise to check Bankrate’s extensive database of the day’s best CD rates before locking in any certificate. But with the buffeting that 5-year CD rates have suffered in the last half year, Granite’s return will be tough to beat. Click here to read more

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