bank rates

Highest CD Rates Roundup For Aug. 9

Bringing you the very best CD rates from credit unions and local banks.I’m amazed at how difficult some banks and credit unions make it for customers to find out basic information. Like, how much does your 60-month CD pay?

It’s almost as if they’re trying to hide something.

Yes, when we’re scouring the Internet each week for the best CD rates, there are many institutions that prominently post interest rates on their home page. A majority have a separate link to a rates page.

But there are numerous banks and credit unions that simply don’t publish rates or, even worse, tease great yields but demand a branch phone call or visit to find out.

Even among the institutions whose deals we’ve highlighted since 2010, there are 51 that don’t provide rates online, according to our records. Many of these banks at one time offered online specials or published a full list of rates.

Why don’t they now?

I was reminded of this annoyance this week after reading a piece in American Banker urging banks and credit unions to get with the program.

From “How to Perfect Your Bank’s Website:”

Lastly — and this is where many websites go very wrong — make information about your products, rates and fees readily accessible. Consumers love to comparison-shop, and when they feel that they have enough information, they will make a confident and educated decision. Advertising your rates and fees upfront can help turn visitors into long-term, loyal customers.

Hiding this information, I’d guess, will have the opposite effect.

When you’re looking to buy a certificate of deposit, are you really going to “call your local branch” for rate information if the website won’t provide it? That’s an immediate turnoff for me, and it also raises a red flag.

Either this bank has deals so good they don’t want to advertise them or, more likely, they have nothing worth the bother.

As for the highest CD rates from credit unions and local banks (the ones proud to post their rates online), we added two deals to our list this week:

  • Bank of Utica ( in New York pays 2.30% APY on 60-month CDs and 2.00% APY on 48- to 59-month CDs with a $500 to $50,000 deposit. To purchase these certificates of deposit, you have to live in the bank’s service area in central New York.
  • HarborOne Bank ( in Massachusetts pays 2.00% APY on 48-month CDs and 1.05% APY on 7-month CDs with a $1,000 minimum deposit. To buy these certificates of deposit, you need to have a valid mailing address (no PO boxes) in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island or Vermont.

There are no rate increases to report this week, but unfortunately we’ve seen a couple of long-term rate cuts.

AmeriCU Credit Union in upstate New York, cut rates across multiple terms. We’ve removed the 60- and 24-month CDs from our list. The 36-month CD now pays 1.50% APY (down from 1.65%) and remains on our list.

San Antonio Federal Credit Union cut its 84-month CD rate from 2.20% APY to 2.05% APY. That’s now a worse deal than you’ll find from the top 60-month offer on our CD Rates Leaderboard. We’ve removed it from our list.

And we’ve also removed the 72-month offer from First Republic Bank, with branches on the East and West coasts. It cut rates from 2.25% APY to 2.05% APY.

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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