bank rates

Northeast Deal: 30-Month CD Pays 1.60%

Gold trophy on orange backgroundA Maryland-based credit union has a competitive deal on special 30-month CD rates for some of its members.

First Peoples Community Federal Credit Union pays 1.60% APY on these midterm certificates of deposit with a $5,000 minimum deposit.

To earn this rate, you’ll also have to have a checking account with this credit union and set up a direct deposit within 90 days of opening the CD. Otherwise, the rate drops to 1.00% APY.

How local 2-year CDs rate

Institution APY Location
Gulf Coast Federal Credit Union 1.55% Texas
Transit Employees Federal Credit Union 1.55% Washington, D.C.
Bay Ridge Federal Credit Union 1.50% New York

First Peoples boasts 29,000 members and is headquartered in Cumberland, Maryland.

But this rate isn’t good for all of its members – just those who live in Somerset County, Pennsylvania.

Members who live elsewhere earn a still-competitive 1.50% APY.

This 2 1/2-year offer beats both the top nationally available 2-year and 3-year deals on our CD Rates Leaderboard.

Chart showing the top and average 2-year CD ratesMembers can buy these certificates of deposit over the phone or at one of First Peoples’ 11 locations, which are in Accident, Cumberland, Cresaptown, Frostburg, Grantsville, LaVale and Lonaconing, Maryland; Meyersdale and Somerset, Pennsylvania; and Keyser and Short Gap, West Virginia.

Membership costs $5 and is limited to those who live and work in Allegany and Garrett counties in Maryland, Somerset County in Pennsylvania and Mineral County in West Virginia.

Verizon employees in the Maryland counties of Frederick and Washington are also eligible for membership.

Learn more about First Peoples at ( or call 301-784-3000.

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

UPDATE 3/17/15: First Peoples now offers the 30-month special at 1.60% APY to all members, regardless of residence, and the minimum deposit is now $500. A checking account and direct deposit are still required.

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