bank rates

Highest CD Rates Roundup For Aug. 29

Bringing you the very best CD rates from credit unions and local banks.The sleepy summer for CD rates came to an end in the last two weeks of August.

Since Aug. 20, we have seen two dozen rate changes from the banks we track for our CD Rates Leaderboard.

Most of those changes have been positive, including three banks that raised rates enough to tie for the very best nationally available deals.

With continuing good economic news and the Federal Reserve slowly moving toward its first increase of short-term interest rates in more than half a decade, let’s hope the momentum continues.

We certainly have noticed a seeming increase in competitive offers from small banks and credit unions in certain areas of the country.

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

  • Charter Oak Credit Union (www.charteroak.org) in Connecticut pays 2% APY on 17-month CDs and 1% APY on 8-month CDs with a $1,000 minimum deposit. There’s a $75,000 maximum deposit on these CDs. Credit union membership is open to New London or Windham county residents. Membership costs $5.
  • Lisle Savings Bank (www.lislebank.com) in Illinois pays 1.76% APY on 42-month CDs with a $2,000 minimum deposit. This offer is open to residents of Lisle, Naperville, Downers Grove, Wheaton and Oak Brook, as well as a section of Hinsdale in suburban Chicago.
  • San Diego County Credit Union (www.sdccu.com) pays 2% APY on 29-month CDs with an active checking account. You’ll earn 1.74% APY without a checking account. Membership is open to San Diego-area residents as well as anyone who joins the Financial Fitness Association. Savers nationwide can join this association upon payment of a one-time $5 fee.
  • Select Federal Credit Union (www.selectfcu.org) in Texas pays 2.50% APY on 60-month CDs, 1.75% APY on 36-month CDs, 1.45% APY on 24-month CDs and 1.35% APY on 12-month CDs, all with a $500 minimum deposit. Credit union membership is reserved for residents of designated underserved areas of San Antonio.

We saw just one rate change this week among our existing deals.

Third Federal Savings & Loan in Ohio lowered its 49-month CD rate to 1.65% APY from 1.75% APY. This deal is available to savers everywhere.

We’ll update our page listing the highest CD rates weekly, so you’ll always know what great deals are out there from credit unions and local banks.


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