bank rates

Detroit-Area Deal On 26-Month CD Rates

Woman holding up a piggy bank with money coming out of it.Michigan Schools & Government Credit Union has special 26-month CD rates for its nearly 70,000 members.

It pays 1.30% APY with a $500 minimum deposit.

That beats the top nationally available 24-month CD rate on our CD Rates Leaderboard, which has been 1.25% APY since the end of May.

The only downside: This special has a maximum balance of $25,000.

You have to be a member of Michigan Schools & Government Credit Union to buy these certificates of deposit.

Employees, students, former students, alumni and retirees of schools in Genesee, Lapeer, Livingston, Macomb, Oakland, St. Clair, Washtenaw and Wayne counties can join, as can their relatives, as well as anyone over age 55 who receives a retirement annuity, pension, Social Security or other type of retirement payment from a private or government source and who lives in one of those counties.

A few other ways to join are listed on the website, but those two cover the gamut.

Membership in Michigan Schools & Government Credit Union requires a $5 deposit in a share savings account.

Members can buy this special CD over the phone or in person at a branch.

There are 11 in the Detroit suburbs of Chesterfield, Clinton Twp., Madison Heights, Royal Oak, Shelby Twp., St. Clair Shores, Sterling Heights, Troy and Warren.

Learn more about Michigan Schools & Government Federal Credit Union at www.msgcu.org or call 586-263-8800.

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

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