bank rates

Highest CD Rates Roundup For April 26

Bringing you the very best CD rates from credit unions and local banks.Have low CD rates impacted your decision on whether to buy?

Data collected separately from the U.S. Census Bureau and the Federal Reserve offer a definitive answer.


Nearly 4 million fewer households owned a certificate of deposit in 2011 than in 2009, according to Census data released in March.

It should come as no surprise that during that time, the average 5-year CD yield fell sharply, from 2.48% APY to 1.16% APY. Given that today the average for the term is a record-low 0.79% APY, millions more households have probably given up on CDs.

But where have they gone?

Chart showing CD and savings account balances between 2009 and 2013Since January 2009, according to Federal Reserve data, the amount of cash held in CD accounts has fallen by more than $830 billion to the lowest level since 1979. At the same time, savings account deposits have increased by more than $2.5 trillion.

Average savings account rates are even worse than long-term CD yields, but depositors apparently prefer the liquidity savings accounts offer in this environment.

One other fun fact: Adjusted for inflation, the amount of cash in certificates of deposit hasn’t been this low since 1968.

If you are in the market for a certificate of deposit, our list of the highest CD rates from credit unions and local banks is the first place to stop. This week we added two deals:

  • Keesler Federal Credit Union ( in Mississippi pays 1.90% APY on 5-year CDs with a $1,000 minimum deposit. Credit union membership is available to anyone who lives, works, worships, or attends school in Hancock, Harrison or Pearl River counties, or in select census tracts of Jackson County.
  • Southwest Airlines Federal Credit Union ( based in Dallas, pays 1.49% APY on 36-month CDs with a $25,000 minimum deposit and 1.54% APY with a $75,000 minimum deposit. Membership is open to all employees of Southwest Airlines, as well as through 150 groups listed on the credit union’s website.

We did see a few rate cuts this week.

Mississippi Telco Federal Credit Union cut 60-month rates from 2.02% APY to 1.91% APy and 30-month rates from 1.51% APY to 1.41% APY.

Security Service Federal Credit Union, which offers different rates based on where you live, cut its 60-month CD rate in the San Antonio area from 2.00% APY to 1.85% APY. Denver also dropped and is no longer competitive. But the Salt Lake City rate remains 2.05% APY.

Via Credit Union in Indiana cut its 60-month rate from 2.01% APY to 1.91% APY. We removed the 33-month deal from our list after a rate cut sent the yield to 1.40% APY from 1.50% APY.

You’ll find all 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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