bank rates

Highest CD Rates Roundup For April 18

Bringing you the very best CD rates from credit unions and local banks.Are certificates of deposit and savings accounts good long-term investments?

Better than stocks? Real estate? Gold?

Most Americans say no, according to a new survey.

But here’s the thing: Your ceiling may be lower with CDs, but at least you know what you’re going to get. Stocks, real estate and gold can be hugely risky investments.

Gallup’s most recent Economy and Personal Finances poll found that just 14% of Americans find bank accounts to be the best long-term investment.

“Bonds have been Americans’ least favored investment option for as long as Gallup has been asking the question,” the analytics company wrote in announcing its findings. “Savings accounts and CDs, on the other hand, have been more popular in the past.”

It should come as no surprise that as the economy crashed in 2008, federally insured bank accounts surged in popularity, ranking as the No. 1 long-term investment. When Gallup asked this question two years ago, 19% of Americans favored CDs, roughly the same percentage that thought gold and real estate were the best investments.

Today, 30% of Americans think real estate is the best option, while about a quarter each think stocks and gold are best. Just 6% of Americans favor bonds.

“What Americans view as the best choice for investing reflects myriad factors and is influenced by how the investment is currently performing and respondents’ biases toward where they are invested,” according to Gallup.

Indeed, real estate has the hot hand right now.

Median home prices jumped 9.1% between February 2013 and February 2014, according to the National Association of Realtors.

When was the last time you saw a return like that on a CD? Then again, when was the last time a CD lost a third of its value or more?

Highest CD Rates

This week, we added two deals to our list of the highest CD rates from credit unions and local banks:

  • Greater Nevada Credit Union (www.gncu.org) pays 1.20% APY on 17-month CDs, 1.70% APY on 27-month CDs and 2.20% APY on 37-month CDs with a $1,000 minimum deposit. Credit union membership is open to residents in the northern Nevada counties of Carson City, Churchill, Douglas, Elko, Eureka, Humboldt, Lander, Lyon, Pershing, Storey, Washoe and White Pine.
  • Patriot Federal Credit Union in Pennsylvania (www.patriotfcu.org) pays 2.00% APY on 36-month CDs and 2.00% APY on 60-month CDs with a $25,000 minimum deposit. Credit union membership is open to residents of the Pennsylvania counties of Franklin or Fulton, or the borough of Shippensburg; and Washington County, Md.

We have just one change to report with regard to existing deals. Gesa Credit Union in Washington State cut rates on a number of its certificates of deposit and has been removed from our list.

You’ll find the top-paying deals clearly marked on our highest CD rates page, showing where they are available, with a quick link back to the original post, which includes more information on the institution and its requirements.

We’ll update this page weekly, so you’ll always know what great deals are out there from credit unions and local banks.

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