bank rates

Nationwide Deal: Transportation FCU Offers Whopping 2.50% On 36-Month CDs

As we lament that national banks haven’t been spurred to action by the Federal Reserve’s December rate hike, it’s heartening to see a credit union significantly up the ante with a stellar nationwide CD.

Announced Tuesday, Transportation Federal Credit Union is paying a whopping 2.50% APY on just 36 months, far outdoing the top nationally available 3-year return of 1.75% APY from the banks on our CD Rates Leaderboard.

Even better, it’s two-tenths of a percentage point more than you can earn from our Leaderboard’s top-billed 60-month yield, earning Transportation Federal a prominent spot in our constantly updated roundup of the nation’s best credit union and community bank CDs.

Membership in the Washington, D.C.-based credit union is immediately available to employees and retirees of a long list of affiliated employers and associations throughout the country, including the U.S. Department of Transportation, Federal Aviation Administration, Department of Homeland Security and Transportation Security Administration.

But anyone nationwide can become eligible by joining the American Consumer Council for a $5 membership fee.

Transportation Federal’s promotional certificate requires a minimum investment of $1,000 and can be opened online or at one of the credit union’s three branches in Washington, D.C., and Cambridge, Massachusetts.

Should you opt to cash out this CD early, the penalty will be just three months’ interest, which is the mildest penalty we found in our recent analysis of early-withdrawal penalties across dozens of leading national banks.

This deal tops all kinds of charts, but it’s still prudent to check Bankrate’s extensive database of the day’s best CD rates before signing on the dotted line for any certificate of deposit.

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