bank rates

Minneapolis Deal: 5-Year CDs Pay 2.20%

Hiway Federal Credit Union offers different CD rates for different minimum deposits.Hiway Federal Credit Union has a few decent CD rates that are even better if you pony up a higher minimum deposit.

The best are the 60-month certificates, which pay:

  • 2.00% APY with a $500 minimum deposit.
  • 2.10% APY with a $10,000 minimum deposit.
  • 2.20% APY with a $25,000 minimum deposit.

We lamented last week that the 60-month term on our CD Rates Leaderboard hasn’t seen 2% since the first week in January. It’s been 1.91% APY since mid-June, with no budging.

So if you can grab one of these deals from Hiway, you’ll be earning well more than what you can get from the best nationally available CD.

Also, this credit union’s 36-month rate matches the deal available to savers nationwide — 1.50% APY with a $10,000 minimum deposit. Its best rate in this term is 1.60% APY with a $25,000 minimum deposit.

Its 48-month rate starts out at 1.70% APY with a $500 minimum deposit, moves to 1.80% APY with a $10,000 minimum deposit and hits 1.90% APY with a $25,000 minimum deposit.

You have to be a member of Hiway Federal Credit Union to purchase these certificates of deposit.

Membership is available to those who live, work, worship or attend school in the Minneapolis-St. Paul metropolitan area, as well as employees of the Minnesota Department of Transportation, the Minnesota Department of Public Safety, the State of Minnesota, and other governmental agencies and select employee groups detailed on the website.

Family and household members of people who qualify for membership can also join.

Membership requires a $5 deposit into a share savings account.

Members can buy CDs over the phone, if the funds are available in their account, or at branch. There are two locations in St. Paul and a third in Minneapolis, at Fort Snelling.

Learn more about Hiway Federal Credit Union at www.hiway.org or call 651-291-1515 or 800-899-5626.

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

Have you ever opened an account at Hiway Federal Credit Union? Share your experience below by making a comment.

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Comments (3)
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3 Existing Comments
  1. Kathy at Bankaholic said:
    on October 2nd at 09:38 am

    Hiway has dropped its 60-month rates. It now pays:
    2.10% APY with $25,000 minimum
    2.00% APY with $10,000-$24,999 minimum
    1.90% APY with $500-$9,999 minimum

  2. Kathy at Bankaholic said:
    on February 26th at 09:59 am

    Hiway’s rates have dropped again:
    1.90% APY with $25K minimum
    1.80% APY with $10K minimum
    1.70% APY with $500 minimum

  3. Kathy at Bankaholic said:
    on March 1st at 11:32 am

    Hiway’s 36-month and 48-month rates are lower now, depending on the minimum deposited. Check its website for details.