bank rates

The CD Rates Leaderboard For July 21

The listing of top nationally available rates on 3-month to 5-year certificates of deposit continues to be dominated by two credit unions that allow anyone to join, regardless of where they live or work:

The listing of top nationally available rates on 3-month to 5-year certificates of deposit continue to be dominated by two credit unions 3-month CD: 1.40% APY from Fort Knox Federal Credit Union, headquartered in Radcliff, Ky., requires a $500 minimum deposit.

6-month CD: 1.40% APY from Fort Knox Federal Credit Union, with a $500 minimum deposit.

12-month CD: 1.76% APY from Melrose Credit Union, located in Queens, N.Y., requires a minimum deposit of $5,000.

24-month CD: 2.02% APY from Melrose Credit Union with a $5,000 minimum deposit.

36-month CD: 2.52% APY from Melrose Credit Union with a $5,000 minimum deposit.

60-month CD: 3.29% APY from Melrose Credit Union with a $5,000 minimum deposit.

Most credit unions have membership requirements that don’t make it possible for anyone to join — and disqualify them from our rankings.

But anyone can qualify for membership in Fort Knox by joining the American Consumer Council, right on the credit union’s web site.

Just click on “Become a member” on the home page or rate page, then “Click here to get started.” When you’re asked for “Eligibility Criteria,” use the pull-down menu to click on “AMERICAN CONSUMER COUNCIL/KENTUCKY CHAPTER.”

When you complete the application, the credit union will automatically enroll you in the consumer advocacy group and you’ll be able to buy CDs as part of the application process. Joining the American Consumer Council is free.

Joining the credit union costs $15.

Melrose has an unique open charter that allows all U.S. residents to join and membership only costs $1.

Deposits at Fort Knox and Melrose are federally insured by the National Credit Union Administration, which is the credit union equivalent of the FDIC.

Compare these returns with the best CD rates from scores of banks in our extensive database. You’ll see why these two credit unions are on top.

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Comments (3)
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3 Existing Comments
  1. DealMaven said:
    on July 22nd at 09:31 am

    No surprises! The top rates posted yesterday are still the top rates today.

  2. DealMaven said:
    on July 23rd at 09:02 am

    We checked all of the rates this morning and this leaderboard is still good.

  3. DealMaven said:
    on July 23rd at 11:11 am

    We had a mid-morning rate change. NewDominion Bank, an online bank in North Carolina, raised its 24-month CD rate to 2.05%, making it the best-paying certificate in that category.