bank rates

Vermont Deal: 3.5% CD Rates For Youths

Young Vermont savers (along with their parents or guardians) should check out the 60-month CD rates at Vermont Federal Credit Union available only for youths.

Vermont Federal Credit Union offers this deal with a $50 minimum depositIt’s paying 3.50% APY with a $50 minimum deposit.

That rate bests the top nationally available 60-month CD rate by more than half a percentage point.

Plus, additional deposits of any amount can be made at any time during the term. (Check out our latest CD Rates Leaderboard.)

But as the word “youth” implies, these certificates of deposit are only available to those 18 years of age or younger.

The CD must be purchased using the child’s Social Security Number, with a parent or guardian as joint owner of the CD, and the child must have a savings account with Vermont Federal Credit Union with a balance of at least $25.

And only members of Vermont Federal Credit Union can purchase these CDs.

Membership is open to those who live, work, worship or attend school in Addison, Chittenden, Franklin, Grand Isle, Lamoille and Washington counties. Relatives of current members may also join.

Members can buy these certificates of deposit over the phone or in person at one of the Vermont Federal Credit Union’s six branches in Burlington, Middlebury, St. Albans, South Burlington and Vergennes.

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

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Comments (2)
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2 Existing Comments
  1. SeniorSaver said:
    on April 28th at 11:28 am

    Oh, to be young again . . . . and a resident of Vermont!

  2. Kathy at Bankaholic said:
    on May 16th at 09:04 am

    The rate is actually up slightly to 3.501% APY as of May 16, 2011.