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.
The credit union is paying 1.65% APY on 23-month certificates, competing nicely with the best nationally available 24-month yield of 1.60% APY.
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 two years.
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.
The special CD requires a minimum $500 investment of new money.