bank rates

Highest CD Rates Roundup For May 9

Bringing you the very best CD rates from credit unions and local banks.Rate increases happen less often than we’d like, so today we thought we’d start out by highlighting two of them on our list of the highest CD rates from credit unions and local banks.

Both come from institutions with a New York City presence.

Doral Bank, the leading community bank in Puerto Rico, raised its 24-month CD rate from 1.45% APY to 1.50% APY. Doral has two New York locations and five in northwest Florida.

We’ve been able to find just one local deal that pays better than this offer.

Also in New York, LOMTO Federal Credit Union raised rates in three terms: 6-month CDs now pay 1.10% APY, up from 1.00%; 12-month CDs yield 1.25% APY, an increase from 1.20% APY; and 36-month CDs now pay 1.65% APY, up from 1.60% APY.

This week, we added deals from three credit unions to our list, including offers from one institution open to all savers:

  • USAlliance Federal Credit Union (www.usalliance.org) pays 1.21% APY on 13-month CDs and 1.61% APY on 35-month CDs with a $500 minimum deposit. Credit union membership is open to anyone who joins Arc of Westchester (WARC), a charitable organization helping children with developmental disabilities. The credit union will make the necessary donation for you.
  • Cintel Financial Federal Credit Union (www.cintelfcu.org) in Cincinnati pays 1.75% APY on 36-month CDs with a $10,000 minimum deposit. You must have an active checking account to qualify. Credit union membership is open to residents of Cincinnati or Norwood, Ohio.
  • Fort Community Credit Union (www.fortcommunity.com) in Wisconsin pays 1.40% APY on 27-month CDs with a $2,000 minimum deposit. Credit union membership is open to residents of Dane, Dodge, Jefferson, Rock, Walworth or Waukesha counties.

There are a couple of rate cuts to report, as well.

Liberty Bank in Connecticut made big cuts to its top 36-, 48- and 60-month CD rates. And Coastal Community and Teachers Credit Union in Texas slashed its 25- and 36-month CD rates. Both institutions have been removed from our list.

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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