bank rates

Michigan Deal: 1.5%, 17-Month CD Rates

Consumers Credit Union has special 17-month step-up CD rates for its more than 37,000 members in west Michigan.

Consumers Credit Union is offering this deal with a minimum deposit of $1,000.It’s paying 1.50% APY with a $1,000 minimum deposit.

That beats the top nationally available 12-month CD rates by nearly a tenth of a percentage point. Plus, you can raise the rate once before the CD matures. (Check out our latest CD Rates Leaderboard.)

Rising rate deals used to be fairly uncommon, especially ones with a decent beginning rate. But we’ve seen more lately like this that start out with rates higher than what leaders on the CD Leaderboard are offering.

But you must be a member of Consumers Credit Union to buy these certificates of deposit.

Membership requires a $25 deposit in a savings account and is limited to people who live, work, worship or are enrolled in post-high school education in Allegan, Barry, Berrien, Calhoun, Cass, Kalamazoo, Kent, Ottawa, St. Joseph or Van Buren counties.

Relatives of current Consumers Credit Union members are also eligible to join.

Members can buy CDs over the phone or in person at one of the credit union’s 13 locations in Coldwater, Holland, Lawton, Kalamazoo, Portage and South Haven.

See how these returns compare with the best CD rates from scores of banks in our extensive database.

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