bank rates

Grab Top CD Rates For Children – And Adults, Too – In Washington, D.C.

HEW Federal Credit Union pays more than 2% on 60-month CDs.HEW Federal Credit Union’s 6-month CD rates for the under-age-18 set may have Washington, D.C.-area savers searching for the fountain of youth.

It pays:

  • 2.02% APY for balances of $100 to $499.99.
  • 2.12% APY for balances of $500 to $999.99.
  • 2.22% APY for balances of $1,000 and over.

The top nationally available 6-month CD rate on our CD Rates Leaderboard fell to 0.80% APY earlier this month.

So, yeah, the rates on this HEWEY/Generation APY certificate of deposit are pretty good.

Plus, young savers can add money with additional direct deposits of at least $25.

A child – a member of either the HEWEY Cub Club or the Generation APY Club – must be the CD’s primary holder.

Adults shouldn’t despair.

HEW Federal Credit Union also pays 2.02% APY for 60-month CDs with a $2,000 minimum deposit.

Considering that the 60-month term’s lead rate also dropped recently, to 1.85% APY, that’s not a bad deal either.

You have to be a member of HEW Federal Credit Union to buy these certificates of deposit.

Membership is open to people who live, work, worship, attend school or regularly conduct business in Washington, D.C.; the city of Alexandria and Arlington and Fairfax counties in Virginia; and most areas of Prince George’s and Montgomery counties in Maryland.

Members’ relatives and employees of select employee groups can also join. A list is on the website and includes groups in the Washington, D.C., and Philadelphia areas.

Membership requires a $5 deposit in a share savings account.

Members can buy CDs over the phone, by mail or in person at one of the credit union’s four offices in Washington, D.C.; Alexandria and Falls Church, Va.; District Heights, Md.; and Philadelphia.

Learn more about HEW Federal Credit Union at or call 202-488-5400.

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

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (4 votes, average: 5.00 out of 5)
One Existing Comment
  1. Kathy at Bankaholic said:
    on March 8th at 08:52 am

    HEW’s rates for the under-18 set haven’t changed, but its 60-month rate for everyone else has dropped to 1.76% APY.