bank rates

December Brings First Changes In Top CDs

The first couple of days of December have been surprisingly quiet on our CD Rates Leaderboard.

In fact, the only movement among all of the best nationally available returns came from EverBank.

The online bank with 11 branches in Florida cut the yield on two certificates of deposit. Its:

  • 36-month rate went from 1.46% APY to 1.43% APY
  • 60-month rate went from 2.20% APY to 2.16% APY

But there have been some interesting changes over on our roundup of great local deals.

NASA Federal Credit Union extended its special on 49-month CDs that pays 2.25% until the end of the year.

Advancial Federal Credit Union raised the return on its 60-month CDs to 2.37% APY and now beats the best nationally available rate of 2.35% APY.

The Dallas-based credit union with 65,000 members in five states also raised its 48-month rate from 1.96% APY to 2.00% APY.

University of Iowa Community Credit Union has ended its November specials, which were paying 1.75% on 19-month CDs and 2.00% APY on 29-month CDs.

The credit union, which claims 120,000 members in 42 counties in the eastern part of the state as well as students and alumni of the Big Ten school, is offering two new deals for December.

It’s essentially the same rates with slightly longer terms:

  • 1.75% APY for 21-month CDs.
  • 2.00% APY for 30-month CDs.

On a more disappointing note, Jeanne D’Arc Credit Union has ended its fall special on 48-month CDs at 2.15% APY for savers up in Massachusetts and New Hampshire.

The Treasury Department reports that Americans saved 5.0% of their income in October.

The nation’s personal savings rate has now been at, or slightly above, 5% for seven of the first 10 months of the year and the year-to-date average is 5.0%.

We continue to show a slight improvement in our savings habits this year. The savings rate was only above 5% for six of the 12 months in 2013, and the average savings rate for the year was 4.86%.

Unfortunately, we still aren’t investing in our futures nearly as much as we did in 2011 and 2012, when the personal savings rate was typically 6% or 7% each month.

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