bank rates

Pennsylvania Deal On Bump-Up CDs

hand dropping a coin in a white piggy bankErie Federal Credit Union’s 59-month step-up CD rates should be particularly attractive to its optimistic Pennsylvania members.

It pays 2.02% APY with a $1,000 minimum deposit and allows one step up to a higher interest rate during the term.

The top nationally available 60-month CD rate on our CD Rates Leaderboard is a slightly higher 2.05% APY. But even without a crystal ball, we’re optimistic that CD rates will rise above that during the next five years.

We wrote earlier this week about what has to happen to CD rates in the next couple of years for an offer like this to beat the current 3.04% APY from PenFed Federal Credit Union.

You have to be a member of Erie Federal Credit Union to purchase these certificates of deposit. Membership is available to those who live, work, worship or attend school in either Crawford or Erie county, as well as members’ family members.

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

Members can buy CDs over the phone, online or at one of the credit union’s seven branches in Erie.

Learn more about Erie Federal Credit Union at www.eriefcu.org or call 814-825-2436.

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

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