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Highest CD Rates Roundup For July 5

Bringing you the very best CD rates from credit unions and local banks.Once again, we have some pleasant certificate of deposit news to pass along.

For the second time in as many months, Stanford Federal Credit Union has increased its 60-month CD rates.

The yield is tiered based on the size of your deposit. You can earn a maximum of 2.22% APY with a $100,000 minimum deposit.

But even with a more modest $1,000 minimum deposit, you’ll earn 2.07% APY.

That’s quite a good deal when compared with the highest nationally available bank offer on our CD Rates Leaderboard.

More good news: This deal is available to all savers.

While this credit union caters to students and faculty of Stanford University, anyone can join by first joining the Museum of American Heritage for $35 or the Friends of Palo Alto Library for $20.

Membership requires a $50 deposit in a share savings account.

One big caveat: You’ll also have to open a checking account with a monthly direct deposit of at least $500 to qualify for these CD rates.

But with last week’s increase at Melrose Credit Union, we’re beginning to see some more options available to savers seeking rates higher than what the top banks offer.

Speaking of options, one of the two new deals we added to our list of the highest CD rates from credit unions and local banks also is available to savers in all 50 states:

  • Northern Bank & Trust Co. (www.nbtc.com) pays 1.15% APY on 18-month CDs with a $500 minimum purchase. Anyone can buy these CDs online.
  • Our second deal is available to savers in Texas. Texas Workforce Credit Union (www.texasworkforcecu.com) pays 1.41% APY with a $5,000 minimum deposit on 24-month CDs and 1.66% APY with a $10,000 minimum deposit for 36-month CDs. Membership is available to several employer groups and to anyone who lives within a 10-mile radius of the credit union’s single office at 4801 NW Loop 410 in San Antonio.

There are just a couple of other rate movements worth noting on our list.

Doral Bank in New York raised its 60-month CD rate to 1.90% APY. These certificates of deposit are only available at the New York City branches and have to be purchased in person.

As for cuts, AmeriCU in upstate New York trimmed its 60-month CD rate from 2.20% to 2.10% APY and its 36-month CD rate from 1.80% APY to 1.65% APY.

And NavyArmy Community Credit Union in Texas cut its 30-month CD rate from 2.50% APY to 2.30% APY.

Both of those deals remain on our list.

We removed the 60-month offer from Shell Federal Credit Union in Texas, which fell from 1.95% APY to 1.75% 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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