bank rates

Highest CD Rates Roundup For Oct. 12

Bringing you the very best CD rates from credit unions and local banks.If you needed further proof that 2% APY is settling as the current ceiling on nationally available CD rates, you need only look at our list of the highest interest rates from credit unions and local banks.

This week, we added two more 5-year deals available to all savers that pay 2%. Overall, we’ve found five credit unions open to anyone that pay this much on 60-month certificates of deposit.

Local 5-year deals we’ve found top out at 2.50% APY. For the lucky few in Texas, there is one long-term deal that pays the considerably better rate of 3.20% APY.

But if you’re looking to buy a CD right now and your primary concern is yield, 2% really is your benchmark.

This week, we added three credit unions to our list:

  • LOMTO Federal Credit Union ( offers CDs in five terms that beat the best nationally available bank deal. With a $2,000 minimum deposit, it pays: 2.20% APY on 60-month certificates, 1.75% APY for 36 months, 1.40% APY for 24 months, 1.20% APY for 12 months and 1.00% APY for 6 months. Membership in this New York credit union is open to members of the League of Mutual Taxi Owners Inc. and to people who live, work, worship and attend school in certain areas of Manhattan’s west side.
  • Pinnacle Federal Credit Union ( pays 2.00% APY on 5-year CDs with a $500 minimum deposit. Anyone can join this New Jersey credit union by first joining the American Consumer Council. Pinnacle will pay the $5 consumer council membership fee. Credit union membership requires a $5 deposit in a share savings account.
  • RiverLand Credit Union ( pays 2.00% APY on 5-year CDs and 1.50% APY on 3-year CDs with a $1,000 minimum deposit. Anyone can join this New Orleans credit union by first becoming a member of the Arts Council of New Orleans. An arts council membership costs $60, and you also must deposit $5 in a savings account and pay a $1 credit union membership fee.

Once again, there were just a few rate cuts among the banks and credit unions on our list.

Columbus First Bank in Ohio cut its 60-month rate to 1.90% APY.

El Paso Area Teachers Federal Credit Union cut two rates. Its 60-month CD now pays 1.91% APY, and its 36-month CD now pays 1.46% APY.

HAPO Community Credit Union in Washington state cut rates in several terms. Its 60-month CD now pays 2.10% APY. We’ve removed the 36-month and 24-month certificates from our list, as they now longer pay as much as the best nationally available bank deal.

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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