bank rates

Grab Above-Average Rates On Every CD From State Employees’ Credit Union

After last week’s Citi meltdown, State Employees’ Credit Union’s CD rates are a breath of fresh air.

Not only is every interest rate way above average, I can actually single one out as worthier than the others – the 48-month CD, which pays 1.50% APY.

That ties the top nationally available 36-month CD rate on our CD Rates Leaderboard.

State Employees’ Credit Union offers the identical rate for its 60-month CD, making it nearly a quarter of a percentage point lower than that term leader.

But the average annual yield that large banks and thrifts are offering for 5-year CDs is currently 0.77%.

See, refreshing?

Sure, better rates can be found on the CD Rates Leaderboard, but at least State Employees’ Credit Union isn’t gouging its 1.8 million North Carolina members like the big banks are.

The credit union’s other CD rates aren’t too far behind the Leaderboard’s rates:

6-month CD rate is 0.75% APY versus an average rate of 0.15% APY. (Leaderboard leader is 0.88% APY.)

12-month CD rate is 0.75% APY versus an average rate of 0.24% APY. (Leaderboard leader is 1.05% APY.)

24-month CD rate is 1.00% APY versus an average rate of 0.37% APY. (Leaderboard leader is 1.25% APY.)

36-month CD rate is 1.25% APY versus an average rate of 0.47% APY. (Leaderboard leader is 1.50% APY.)

Membership in State Employees’ Credit Union is available to employees and retirees of the state of North Carolina and its public schools, as well as employees in county departments of health, mental health, social services and civil defense.

Members of the North Carolina National Guard can join, too, as can members’ immediate family members.

Membership in State Employees’ Credit Union requires a $25 deposit in a share account.

Members have to buy CDs in person but State Employees’ Credit Union has 248 branches, so how hard can that be?

Learn more about State Employees’ Credit Union at www.ncsecu.org or call 888-732-8562.

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

I doubt you’ll beat ’em.

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