Big Credit Union, Big Southwest CD Rates

One of the nation’s largest credit unions is offering some of the nation’s best deals on certificates of deposit, particularly if you live near its headquarters.

We found 5-year CD rates at Security Service Federal Credit Union that top out at 2.30% APY.

That deal is available in San Antonio, the headquarters of the eighth-largest credit union in the United States, which claims more than 900,000 members and has 70 locations.

The rate structure at Security Service FCU is a bit complex, but here’s how it boils down: Yields are tiered based on minimum deposits. The lowest minimum deposit is $500; the top tier starts at $100,000.

And rates vary in the three states in which this credit union operates: Colorado, Texas and Utah.

For this post, we looked at rates in San Antonio, Salt Lake City and Denver. You can search rates by ZIP code on the credit union’s website.

Denver had the worst rates of the bunch, none of which exceeded the best nationally available bank deals on our CD Rates Leaderboard.

In Salt Lake City, the 60-month CD rates are competitive with yields ranging from 1.95% APY to 2.10% APY. Compare that to the top nationally available bank deal, which pays 1.81% APY.

Its 84-month CD pays between 2.45% APY and 2.60% APY.

But the best deals, by far, are available to San Antonio residents, who can grab a 5-year CD that pays 2.15% APY with a $500 minimum deposit. If you have $100,000 to invest, the yield climbs to 2.30% APY.

Seven-year CDs pay even better. You’ll earn between 2.70% APY and 2.85% APY, depending on your deposit.

It also offers top 3-year CDs in San Antonio, which pay between 1.45% APY and 1.60% APY. The top nationally available bank deal pays 1.42% APY.

You must be a member of Security Service Federal Credit Union to purchase these certificates of deposit.

The credit union boasts more than 2,300 ways to qualify for membership in the three states it serves, which are detailed on the website.

Included are various military personnel and Department of Defense employees in those states and abroad, as well as people who live, work, worship and attend school in numerous counties or cities, and members of associations, clubs and Catholic churches.

Membership requires a $5 deposit in a savings account.

Members can buy CDs online, over the phone or at one of Security Service Federal Credit Union’s service centers. Thirty-seven of its 70 locations are in Texas, 19 are in Colorado and 14 are in in Utah.

Learn more about Security Service Federal Credit Union at www.ssfcu.org or call 888-415-7878.

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