bank rates

Highest CD Rates Roundup For Sept. 14

Bringing you the very best CD rates from credit unions and local banks.For the most part, there’s been no immediate action taken by the banks and credit unions with the highest CD rates following Thursday’s Fed announcement that it would hold interest rates down for three more years.

As we told you earlier this morning, the reaction to such announcements generally comes in a trickle, not a flood.

There was, however, one minor change this morning on our CD Rates Leaderboard.

EverBank (, the predominately online bank based in Florida, trimmed its 3-month CD yield to 0.65% APY from 0.66% APY. It’s now tied with E-Loan (, the online subsidiary of Banco Popular North America, for the top nationally available 3-month deal.

This is, of course, a pretty minor change.

As for the certificates of deposit on our list of highest CD rates from credit unions and local banks, the changes this week for the most part also can be declared minor. This is welcome news after we saw several major changes in recent weeks.

This week, we added one local bank and one local credit union to our list of deals:

  • Cole Taylor Bank ( has several top offers, all with a $1,000 minimum deposit. It pays 1.75% APY on 36- to 47-month certificates and 2% APY on terms of 48 months or longer. You must buy these CDs in person at one of the bank’s nine branches in and around Chicago. This deal is primarily available to Illinois residents.
  • Florida State Employees Federal Credit Union ( has a 1-year CD special that pays 2.02%. That’s better than most 5-year deals. This offer requires a $25,000 minimum deposit of new money. Credit union membership is open employees of the state of Florida who work or live in the counties of Escambia, Okaloosa, Santa Rosa and Walton, as well as members of the credit union’s select employee groups. People associated with the University of West Florida who live in those counties also qualify. Members can buy CDs by mail or in person at one of the credit union’s three branches in Milton or Pensacola.

We saw just one major cut on our list.

El Paso Area Teachers Federal Credit Union slashed its top rates in the wake of the Fed decision. It cut 5-year CD rates from 2.32% APY to 1.96% APY and 3-year CD rates from 1.81% APY to 1.56% APY.

Given the state of yields, that wasn’t a big enough cut to remove this Texas credit union from our list.

We saw two other minor changes: Quaint Oak Bank in Pennsylvania trimmed its 60-month rate from 2.05% APY to 2.00% APY. And Texas-based GECU cut its 60-month rate from 2.00% APY to 1.90% APY.

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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