bank rates

East Coast Deal: 5-Year CD Pays 2.01%

Lafayette Federal Credit Union has top 60-month CD rates for D.C.-area savers.

It pays 2.01% APY with a $500 minimum deposit.

That easily beats the best nationally available 5-year CD rate on our CD Rates Leaderboard, which is still 1.86% APY.

But you have to be a member of Lafayette Federal Credit Union to buy these certificates of deposit.

Membership is open to members’ family members; employees or retirees of the credit union’s select area employers; those who live or work in a specific area of Potomac, Md.; or those who live, work, worship or attend school in certain areas of Washington, D.C. Maps of these areas are available on the website.

But anyone who lives in Maryland, Virginia or Washington, D.C., who joins the American Consumer Council can become a member, too.

There’s no fee to join the ACC, and you can easily exercise this option when opening an account online by selecting the “individuals who live in Maryland, Virginia or Washington, D.C.” option on the “Tell Us About Yourself” page.

Membership in Lafayette Federal Credit Union requires a $50 deposit in a share savings account.

Members have to purchase CDs in person at one of the credit union’s five branches, located in Kensington and Potomac, Md., and Washington, D.C.

Learn more about Lafayette Federal Credit Union at www.lfcu.org or call 800-888-6560.

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

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