bank rates

Frankenmuth CU: 2 Good CD Rate Deals

Michigan quarterFrankenmuth Credit Union has two odd-term special CD rates for its 28,000 members in Central Michigan.

It pays:

  • 1.51% APY for 21-month CDs with a $500 minimum deposit using funds not already on deposit at the credit union.
  • 2.00% APY for 37-month CDs with a $500 minimum deposit. (This can be opened with money already deposited at the credit union.)

While both are higher than the top nationally available offers for their corresponding terms on our CD Rates Leaderboard, the 37-month special beats the 36-month leader by more than half of a percentage point.

Until now, most people probably only associated Michigan’s Little Bavaria with world-famous fried chicken and year-round Christmas.

You must be a member of Frankenmuth Credit Union to buy these special certificates of deposit. Membership is open to anyone who lives, works, worships or attends school in Saginaw, Tuscola, Bay or Genesee counties, as well as members’ relatives.

This area includes Flint, Michigan.

Membership requires a $15 fee.

Members can buy these special CDs online or in person.

Branches are in Birch Run, Essexville, Frankenmuth, Freeland, Independence Village, Millington, Otisville, Reese, Richville, Saginaw and Vassar.

Learn more about Frankenmuth Credit Union at www.frankenmuthcu.org or call 989-497-1600.

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

UPDATE 3/20/15: That recent increase didn’t last long. Today, the 37-month CD pays 1.65% APY and the 21-month, 1.25% APY.

UPDATE 3/17/15: Happy St. Paddy’s Day! Frankenmuth has raised these rates: 37-month now pays 2.00% APY and 21-month pays 1.51% APY.

UPDATE 10/28/14: Frankenmuth has dropped its 37-month CD rate to 1.65% APY.

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