bank rates

Union Bank Has Good 5-Year CD Rates, But Only If You Live In Oregon Or Washington

Union Bank: Go Long On CD RatesIf you want the best CD rates at California-based Union Bank, you need to live in the Pacific Northwest.

With a $350 minimum deposit, savers in Washington and Oregon earn 1.80% APY for 5-year CD rates.

That’s just shy of the top rate for that term on our CD Rates Leaderboard.

This very rarely happens at a big bank.

Plus, in just those two states, 36-month CD rates are 1.25% APY, and 24-month CD rates are 1.01% APY.

If only Union Bank would share the wealth nationwide.

Besides Oregon and Washington, Union Bank has branches in California, Illinois, New York and Texas.

Savers in those states earn only 1.25% APY for 60-month CDs. (Union Bank will sell CDs to any saver, but you’ll have to call, because you can’t buy CDs online, and you’ll only get the California rates.)

Although that rate tops the average annual rate large banks and thrifts are currently offering by a fifth of a percentage point, it’s a far cry from the 1.80% APY offered in Oregon and Washington.

And the rest of Union Bank’s CD rates for the vast majority aren’t stellar either. Currently you’ll find its:

3-month CD rate is 0.10% APY versus an average rate of 0.14% APY. (Leaderboard leader is 0.66% APY.)

6-month CD rate is 0.20% APY and matches the average rate. (Leaderboard leader is 0.80% APY.)

12-month CD rate is 0.30% APY versus an average rate of 0.32% APY. (Leaderboard leader is 1.10% APY.)

24-month CD rate is 0.50% APY versus an average rate of 0.50% APY. (Leaderboard leader is 1.25% APY.)

36-month CD rate is 0.60% APY versus an average rate of 0.65% APY. (Leaderboard leader is 1.45% APY.)

If you buy a CD online, you’re locked into the California CD rates because the bank treats accounts opened online as California accounts.

For more information, visit or call 877-478-1832.

There are better deals out there, and you’ll find them if you compare Union Bank’s returns with the best CD rates from scores of other banks in our extensive database.

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