bank rates

Highest CD Rates Roundup For Nov. 1

Bringing you the very best CD rates from credit unions and local banks.Some banks and credit unions tend to make rate changes at the start of the month. That trend holds as we start November.

And we’re happy to report there were a couple of impressive rate increases.

Let’s start with Pentagon Federal Credit Union, which last month made its CD rates competitive again, offering 2- and 3-year deals that beat the top offers on our CD Rates Leaderboard.

This month, PenFed has boosted its 36-month CD rate by half a percentage point to 2.02% APY. That’s well better than the best nationally available bank deal in this term, and nearly as good as the top 5-year CD. It’s also the best 3-year deal on our list of the highest CD rates from credit unions and local banks.

This credit union pays the same rate for 4-, 5- and 7-year CDs as well, all with a $1,000 minimum deposit.

Of course, anyone can join this credit union (penfed.org).

Those not already qualifying for membership by reason of specified military or government service or organizational affiliation may join by signing up, through PenFed’s website, for either the National Military Family Association (a one-time $20 fee) or Voices for America’s Troops (a one-time $15 fee).

We also saw a nice increase today from Bayer Heritage Federal Credit Union (www.bayerhfcu.com). It boosted its 48- to 59-month CD from 2.02% APY to 2.15% APY and its 60-month CD from 2.27% APY to 2.40% APY, both with a $500 minimum deposit. That 5-year offer is the second-best local deal on our list.

Besides employees of Bayer Corp. and family members of existing members, membership is open to those who live, work, worship or attend school in Wetzel and Tyler counties, W.Va., and Monroe County, Ohio; specific areas of Marshall County, W.Va.; Belmont and Licking counties, Ohio; and Berkley and Charleston counties, S.C.

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

  • American Heritage Federal Credit Union in Philadelphia (www.amhfcu.org) pays 2.10% APY on 60-month CDs with a $1,000 minimum deposit. You have to be a member of American Heritage Federal Credit Union, which has 30 branches in Pennsylvania’s Bucks, Montgomery and Philadelphia counties, to purchase these certificates of deposit. Anyone can join by first donating $15 to the Kids-N-Hope Foundation, which is the credit union’s charitable organization. You can elect to make the donation as part of the membership process.
  • First Community National Bank in Missouri (www.fcnb.com) pays 1.50% APY on 39-month CDs and 2.00% APY on 59-month CDs with a $10,000 minimum deposit. You can boost your rate once on these certificates of deposit. While you don’t have to be a Missouri resident to buy these certificates of deposit, you have to do so in person at one of First Community National Bank’s seven branches. They are all located west of St. Louis, in Cuba, Eureka, Rolla, Steelville, Sullivan and Vienna.

Outside of the rate changes on our list mentioned earlier in this post, there are a number of others to report.

Institution for Savings near Boston cut its 30-month rate from 2% APY to 1% APY, but its 36-month CD rate pays 2.00% APY.

Suntide Credit Union in Texas cut its 24-month CD rate from 2.15% APY to 1.95% APY and its 12-month CD rate from 1.75% APY to 1.55% APY.

NavyArmy Community Credit Union, also in Texas, eliminated its 30-month CD, but pays 1.75% APY on its 36-month CD. It also cut its 24-month CD rate from 1.85% APY to 1.40% APY and its 12-month CD from 1.75% APY to 1.55% APY.

Eliminated from our list: Tri-Rivers Federal Credit Union’s 18-month CD and San Francisco Federal Credit Union’s 10-month CD.

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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