bank rates

We Haven’t Forgotten Melrose Credit Union — Or Its Great Nationwide CD Rates

Melrose Credit Union offers four CD rates that top the best on our CD Rates LeaderboardMelrose Credit Union still has some of the best CD rates in the country.

And we haven’t forgotten that.

Which is why from time to time we’ll continue to report on the dependably great CD rates Melrose Credit Union has to offer.

Next week will mark more than half a year since Melrose changed its CD rates.

We all know what’s happened to most bank and credit union certificates of deposit in the last half year.

That’s what makes Melrose’s run all the more impressive.

Melrose beats the top rates on our CD Rates Leaderboard in four of the six terms we track.

With a $5,000 minimum deposit, the New York-based credit union is offering:

  • 1.41% APY on its 12-month CD.
  • 1.66% APY on its 24-month CD.
  • 2.17% APY on its 36-month CD.
  • 2.93% APY on its 60-month CD.

Earlier this month, we decided our CD Rates Leaderboard would include banks only. This made Melrose ineligible even though its rates consistently beat out most banks.


Because credit unions — even Melrose Credit Union — offer their great CD rates with strings attached.

In Melrose’s case, you have to pay a $1 membership fee and open and maintain at least $25 in a savings account.

Other credit unions aren’t as generous with their requirements.

Fort Knox Federal Credit Union, which is paying 3.05% APY on its 60-month CD rates, charges a $15 membership fee.

And Connexus Credit Union has three top CD rates — 1.50% APY on 6-month CDs, 1.75% APY on 12-month CDs and 3.00% APY on 60-month CDs — but charges a $10 sign-up fee and requires you have an active checking account.

As always, you can compare these returns with the best CD rates from scores of banks in our database.

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Comments (4)
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4 Existing Comments
  1. brguitarist said:
    on June 24th at 02:34 pm

    “or its great nationwide” 🙂

  2. Mike Sante said:
    on June 25th at 05:06 pm

    brguitarist: Thanks for pointing out that embarrassing grammatical error in the original headline on this post. We fixed it.

  3. Mike at Bankaholic said:
    on June 28th at 08:52 am

    As of June 28, Melrose Credit Union has dropped its CD rates on all terms by a tenth of a percentage point. We’ll have a post shortly.

  4. brguitarist said:
    on June 28th at 06:04 pm

    Anytime! Keep up the good work!