bank rates

Top Mid-, Long-Term CD Deals Near Boston

pencil eraser pushing the plus sign on a calculatorWhen we last featured Workers’ Credit Union with branches in suburban Boston, it was offering a 36-month CD that paid 1.50% APY.

Fast-forward half a year and the offer remains the same — only the term is shorter.

For a minimum deposit of $500, members can purchase a 30-month CD that pays 1.50% APY.

And Workers’ is still offering its other big deal we wrote about, a 6-year CD that pays 2.50% APY.

The 30-month deal pays a tenth of a percentage point better than the top 3-year deal on our CD Rates Leaderboard. And the 6-year deal is nearly half a percentage point better than the top 60-month bank deal on our Leaderboard.

Now, there’s a big caveat with these deals: You have to have a checking account and at least one direct deposit a month with this credit union to qualify for these offers.

Otherwise, the 6-year CD pays just 1.75% APY. There is no 30-month option without a checking account.

However, Workers’ offers several different checking accounts, including its free rewards checking account – Xtreme Checking – which pays 2.00% APY on balances up to $25,000.

That’s a fairly high balance cap in this low-rates environment.

You must make 12 debit card purchases, sign up for electronic statements and have at least one direct deposit a month to qualify for the top rate.

To purchase these certificates of deposit (and sign up for a checking account), you must be a member of Workers’ Credit Union. Membership is open to anyone who lives and works in Massachusetts and southern New Hampshire or works for a company that is based in Massachusetts.

Membership in Workers’ Credit Union requires a $25 deposit into a savings account.

Members can buy CDs online or at one of the credit union’s 13 branches, which are located in Acton, Chelmsford, Gardner, Groton, Fitchburg, Lancaster, Leominster, Lunenburg, Orange and Townsend.

Learn more about Workers’ Credit Union at www.wcu.com or call 800-533-4004.

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

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  1. Kathy at Bankaholic said:
    on February 25th at 07:26 am

    Workers’ Credit Union still offers the 6-year CD at this rate, but not the 30-month CD. You can get a 36-month CD paying 1.40% APY with a $500 minimum and 1.50% with a $25,000 minimum.