bank rates

Giving Thanks: CD Rates That Keep Giving

Three nationally available deals pay better than what you'll find on our CD Rates Leaderboard.With the seemingly endless cutting of CD rates, it’s nice to find some banks and credit unions that have resisted the temptation.

A few have even raised their rates in recent months. That’s no small feat in this environment.

Today, we’ll focus on three nationally available deals we’ve been tracking that are still available. These deals beat what you’ll find on our CD Rates Leaderboard — sometimes by quite a lot.

They aren’t eligible for our Leaderboard because they’re offered by a credit union or are an odd-term rate.

Tomorrow, we’ll focus on local deals that have remained unchanged, some for as long as four months.

Velocity Credit Union began offering its CD rates special relatively recently. But here’s some good news: These special rates — set to expire earlier this week — have been extended through Nov. 30.

With a $5,000 minimum deposit, Austin, Texas-based Velocity pays:

  • 1.51% APY on 24-month CDs.
  • 2.12% APY on 36-month CDs.
  • 2.83% APY on 60-month CDs.

These rates are pretty tough to beat.

You have to join the credit union to purchase these certificates of deposit. If you don’t live in central Texas, you have to pay $15 to join the Paramount Theater Association. Your membership in this organization allows you to become a Velocity Credit Union member.

Melrose Credit Union is another option for savers looking for CD rates that pay better than the best nationally available bank deals. These rates aren’t quite as good as Velocity’s, but they’ve held since late August, and it’s cheaper to join.

With a $5,000 minimum deposit, New York-based Melrose pays:

  • 1.41% APY on 24-month CDs.
  • 1.91% APY on 36-month CDs.
  • 2.68% APY on 60-month CDs.

Anyone can join Melrose Credit Union, regardless of where they live or work, by paying a $1 membership fee and depositing $25 in a savings account.

U.S. Bank pays more than the 60-month term leader on our Leadboard but well less than you’d earn at either Velocity or Melrose. This is an ideal CD for someone who doesn’t want to deal with joining a credit union.

With a $1,000 minimum deposit, Minneapolis-based U.S. Bank pays 2.25% APY on its 59-month CD. Anyone can purchase these certificates of deposit online.

Coming tomorrow: Top local deals that have withstood the test of time.

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

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One Existing Comment
  1. Kathy at Bankaholic said:
    on December 5th at 07:40 am

    Velocity’s rates have expired, but you can still get the rates from Melrose and U.S. Bank.