bank rates

Highest CD Rates Roundup For Dec. 14

Bringing you the very best CD rates from credit unions and local banks.It’s been nearly three months since we examined the cities with the highest average CD rates.

And while the national average 5-year CD continues to slide — it’s now at a record-low 0.91% APY — the cities with the best yields continue to pay far more.

There are still eight cities where the average 60-month CD pays more than 1%, down from 14 cities three months ago, according to our weekly national survey:

  • Cincinnati – 1.31% APY
  • Houston – 1.16% APY
  • Minneapolis – 1.13% APY
  • Baltimore – 1.07% APY
  • Miami – 1.06% APY
  • San Diego – 1.04% APY
  • Phoenix – 1.02% APY
  • Tampa – 1.00% APY

If you live in one of these places, your odds of finding a better-than-average rate are better than those of the rest of the country.

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

  • Andrews Federal Credit Union ( in Washington, D.C., pays 1.91% APY on 5-year CDs with a $1,000 minimum deposit. Membership is open to military and civilian personnel of Andrews and McGuire Air Force bases, as well as military installations in Germany, Belgium and the Netherlands, and employees or members of more than 200 groups in New Jersey and the Washington, D.C., area. In addition, Andrews Federal Credit Union has a partnership with the American Consumer Council, which anyone can join for free, and then join the credit union.
  • Security First Credit Union ( in Texas pays 2.33% APY on 5-year CDs with a $1,000 minimum deposit. Credit union membership is available to those who live, work, worship or study in the four counties that comprise the Rio Grande Valley: Cameron, Hidalgo, Starr and Willacy.

We also had a few cuts this week, but not nearly as many as last week.

El Paso Area Teachers Federal Credit Union cut several rates this week. Its 60-month deal now pays 1.81% APY, just high enough to remain on our list. A 36-month rate cut was big enough that it’s no longer among the best-paying deals and has been removed.

HeritageWest Credit Union in Utah cut 6- and 12-month CD rates. These are no longer competitive and have been removed from our list. It’s nationally available 60-month CD remains on our list and pays 2.02% APY.

Also removed from our list: SECNY Federal Credit Union in New York.

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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