bank rates

Highest CD Rates Roundup For Sept. 19

Bringing you the very best CD rates from credit unions and local banks.Three-year CD rates are on the move.

Less than a week after we lamented that 36-month CDs had shown no upward momentum in 2014 while other terms had sprung to life, two banks raised rates.

First, State Farm Bank, the online bank owned by the big insurance company. Then EverBank, the primarily online bank with 11 Florida branches increased its rate today.

Both pay 1.50% APY, the best yield on a nationally available 3-year CD we’ve seen in 11 months.

So finally, some good news out of this term.

Even so, the top bank deal available to all savers still can’t compete with some of the best nationally available credit union deals on our list of the highest CD rates from credit unions and local banks.

There are four such deals on our list that pay more than the best bank deals. Those offers top out at 1.75% APY.

Speaking of our list, this week we added two new deals:

  • Family First Federal Credit Union in New York (www.familyfirstny.com) pays 2.00% APY on 22-month CDs with a $500 minimum deposit. Credit union membership is open to residents of the eastern portion of Monroe County or the western portion of Wayne County. That geographic area includes part of Rochester, New York.
  • Premier Credit Union in Iowa (www.premiercu.org) pays 1.4% APY on 14-month CDs with a $10,000 minimum deposit. Credit union membership is open to residents of Boone, Dallas, Jasper, Madison, Marion, Polk, Story or Warren counties.

There was just one change to our existing deals this week.

Finally, finally, finally, after all its incremental rate cuts over the last two months, we’ve removed Third Federal Savings & Loan’s 49-month CD special from our list after yet another rate cut from this Ohio institution sent the yield plunging to 1.25% APY.

We’ll update our page listing the highest CD rates weekly, so you’ll always know what great deals are out there from credit unions and local banks.

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