bank rates

Unusual National 2-Year CD Paying 2.00%

In today’s low-rate environment, 2.00% is considered a leading return among 4-year certificates of deposit.

But Justice Federal Credit Union is offering savers everywhere the chance to earn that in just over two years.

The deal is part of the credit union’s 80th anniversary celebrations and has slightly unusual terms. With a deposit of between $500 and $25,000 of new money, the credit union pays:

  • 8.00% APY for the first 80 days.
  • 1.35% APY for 24 months from the 81st day.
  • A resulting blended rate of 2.00% APY over a term that’s under 27 months.

Since the early-withdrawal penalty is a stiff 12 months on this CD, you’ll want to keep it to full maturity, making the blended rate the only thing that matters.

With the best nationally available 24-month yield from the banks on our CD Rates Leaderboard currently topping out at 1.45% APY, this deal offers a premium of more than half of a percentage point.

That’s why Justice Federal has earned a spot on our list of the nation’s highest CD rates from credit unions and community banks.

Justice Federal membership is available primarily to employees, retirees and contractors of law enforcement agencies, the Department of Justice, the Department of Homeland Security and the state and federal court systems.

But anyone in the country can become eligible by first joining one of two associations that offer a reasonable $15 membership fee for non-law-enforcement citizens. Those are the National Sheriffs’ Association and the National Native American Law Enforcement Association.

You can join Justice Federal online, by phone or at one of its 21 branches in Washington, D.C., Virginia, New York, West Virginia, Georgia, Texas, Illinois and California.

To buy the special anniversary CD, however, the online option is unavailable, requiring purchase either by phone or in person.

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