bank rates

Highest CD Rates Roundup For May 2

Bringing you the very best CD rates from credit unions and local banks.With short-term nationally available CD rates as bad as we’ve ever seen them, you have to turn toward local institutions if you want a decent return on 6-, 12- or 24-month certificates of deposit.

That’s why we think our list of the highest CD rates from local banks and credit unions is so valuable.

For example, there are 14 local deals on the list now that beat the best nationally available bank deal on our CD Rates Leaderboard. (As a bonus, there are also two credit unions on our list open to all savers that beat the best bank deal.)

Count among those offers a deal from one of the two credit unions we reviewed this week:

  • NavyArmy Community Credit Union (www.navyarmyccu.com) in Texas pays 1.10% APY on 6-month CDs, 1.15% APY on 12-month CDs, 1.40% APY on 24-month CDs and 1.75% APY on 36-month CDs, all with a $1,000 minimum deposit. Credit union membership is open to residents in the Texas counties of Aransas, Bee, Cameron, Hidalgo, Jim Wells, Kleberg, Nueces and San Patricio.
  • Fort Knox Federal Credit Union (www.fortknoxfcu.org) in Kentucky pays 2.05% APY on 46-month CDs with a $500 minimum deposit. Credit union membership is open to any U.S. saver who first joins the nonprofit American Consumer Council, which you can do from the credit union’s website.

The beginning of the month is a popular time to change rates, so it’s no surprise we have a number of cuts to report at the start of May.

Navy Federal Credit Union in Virginia cut 36-month CD rates from 1.45% APY to 1.30% APY, and Leader Bank in Massachusetts cut 24-month CD rates from 1.40% APY to 1.00% APY.

We removed both of these deals from our list.

Two other credit unions cut rates but remain on our list.

Gulf Coast Federal Credit Union in Texas cut 24-month CD rates from 1.75% APY to 1.45% APY, 12-month CD rates from 1.50% APY to 1.30% APY and 6-month CD rates from 1.10% APY to 1.00% APY.

Navigator Credit Union in Alabama and Mississippi cut 24-month CD rates from 1.40% APY to 1.30% 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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