Credit Union CD Rates Michigan 2024

Below are the best one year CD Rates from credit unions in Michigan. One year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.

MI - April 15, 2024

1 Year CD National Average : 0.55% ^?

Credit Unions	APY	MIN	MILES ^?
Wings Financial Restrictions	5.40% 1.66% 1.56%	$500 $250,000 $10,000	-	Learn More Reviews
Lake Michigan Restrictions	5.15%	$500	-	Learn More Reviews
Dow Restrictions	4.92%	$500	-	Learn More Reviews
Rate History: 5.15% → 4.92%
United Restrictions	4.75%	$500	-	Learn More Reviews
Rate History: 5.15% → 4.75%
Michigan State University Restrictions	4.50% 4.25%	$100,000 $50	-	Learn More Reviews
Farmers Insurance Group Restrictions	4.00%	$1,000	-	Learn More Reviews
American 1 Restrictions	4.00%	$500	-	Learn More Reviews
Covantage Restrictions	4.00%	$1,000	-	Learn More Reviews
First United Restrictions	3.95% 3.85%	$50,000 $500	-	Learn More Reviews
Genisys Restrictions	3.64% 3.59%	$100,000 $500	-	Learn More Reviews
Rate History: 3.96% → 3.93% → 3.64%
Dfcu Financial Restrictions	3.50%	$1,000	-	Learn More Reviews (1)
Unify Financial Restrictions	2.40% 2.25% 2.10%	$100,000 $40,000 $1,000	-	Learn More Reviews (1)
New England Restrictions	2.27%	$500	-	Learn More Reviews
Everwise Restrictions	1.36%	$500	-	Learn More Reviews
Country Heritage	1.01%	$10,000	-	Learn More Reviews
Limestone Restrictions	1.00%	$100,000	-	Learn More Reviews (1)
Dort Financial	1.00%	$100,000	-	Learn More Reviews
Wildfire Restrictions	0.95%	$100,000	-	Learn More Reviews
Elga Restrictions	0.95%	$100,000	-	Learn More Reviews
Jolt	0.90%	$10,000	-	Learn More Reviews
Safe Harbor Restrictions	0.85%	$100,000	-	Learn More Reviews
Elga Restrictions	0.85%	$10,000	-	Learn More Reviews
Filer Restrictions	0.80%	$100,000	-	Learn More Reviews
West Michigan Restrictions	0.80%	$100,000	-	Learn More Reviews
Credit Union One Restrictions	0.80%	$100,000	-	Learn More Reviews
Safe Harbor Restrictions	0.80%	$10,000	-	Learn More Reviews
Frankenmuth Restrictions	0.80%	$100,000	-	Learn More Reviews
United Financial Restrictions	0.80%	$100,000	-	Learn More Reviews
Circle Restrictions	0.80%	$10,000	-	Learn More Reviews
Zeal Restrictions	0.80%	$100,000	-	Learn More Reviews
Diversified Members Restrictions	0.80%	$10,000	-	Learn More Reviews
Settlers	0.76%	$500	-	Learn More Reviews
Consumers Professional Restrictions	0.75%	$100,000	-	Learn More Reviews
Omni Community Restrictions	0.75%	$100,000	-	Learn More Reviews
Peninsula Restrictions	0.75%	$10,000	-	Learn More Reviews
Team One Restrictions	0.75%	$10,000	-	Learn More Reviews
Muskegon Co Op Restrictions	0.75%	$10,000	-	Learn More Reviews
Michigan First Restrictions	0.75%	$100,000	-	Learn More Reviews
Family First Restrictions	0.75%	$10,000	-	Learn More Reviews
Dort Financial	0.75%	$10,000	-	Learn More Reviews
Kellogg Community Restrictions	0.75%	$100,000	-	Learn More Reviews (1)
Our Restrictions	0.75%	$10,000	-	Learn More Reviews
Selfreliance Restrictions	0.75%	$10,000	-	Learn More Reviews
Credit Union Advantage Restrictions	0.75%	$100,000	-	Learn More Reviews
First General Restrictions	0.70%	$10,000	-	Learn More Reviews
Filer Restrictions	0.70%	$10,000	-	Learn More Reviews
Wildfire Restrictions	0.70%	$10,000	-	Learn More Reviews
Isabella Community Restrictions	0.70%	$10,000	-	Learn More Reviews
River Valley	0.70%	$10,000	-	Learn More Reviews
Port City Restrictions	0.70%	$10,000	-	Learn More Reviews
Adventure Restrictions	0.70%	$10,000	-	Learn More Reviews
United Financial Restrictions	0.70%	$10,000	-	Learn More Reviews
Health Advantage Restrictions	0.70%	$10,000	-	Learn More Reviews
Financial Plus Restrictions	0.70%	$10,000	-	Learn More Reviews
Security Restrictions	0.70%	$10,000	-	Learn More Reviews
Pfcu	0.70%	$10,000	-	Learn More Reviews
Lafcu Restrictions	0.70%	$100,000	-	Learn More Reviews
Case Restrictions	0.70%	$10,000	-	Learn More Reviews
Lenco Restrictions	0.70%	$10,000	-	Learn More Reviews
Zeal Restrictions	0.70%	$10,000	-	Learn More Reviews
Consumers Professional Restrictions	0.65%	$10,000	-	Learn More Reviews
4front Restrictions	0.65%	$100,000	-	Learn More Reviews
Limestone Restrictions	0.65%	$10,000	-	Learn More Reviews (1)
Gerber Restrictions	0.65%	$10,000	-	Learn More Reviews
Family Financial Restrictions	0.65%	$100,000	-	Learn More Reviews
Preferred Restrictions	0.65%	$10,000	-	Learn More Reviews
Best Financial Restrictions	0.65%	$10,000	-	Learn More Reviews
Lafcu Restrictions	0.65%	$10,000	-	Learn More Reviews
Credit Union Advantage Restrictions	0.65%	$10,000	-	Learn More Reviews
Frankenmuth Restrictions	0.60%	$10,000	-	Learn More Reviews
Intouch Restrictions	0.60%	$1,000	-	Learn More Reviews
Great Lakes First Restrictions	0.60%	$10,000	-	Learn More Reviews
Delta County Restrictions	0.60%	$10,000	-	Learn More Reviews
St. Francis X Restrictions	0.60%	$100,000	-	Learn More Reviews
Alpena-alcona Area Restrictions	0.60%	$10,000	-	Learn More Reviews
Financialedge Community Restrictions	0.60%	$100,000	-	Learn More Reviews
Service 1 Restrictions	0.60%	$10,000	-	Learn More Reviews
Kalsee Restrictions	0.60%	$10,000	-	Learn More Reviews
Christian Financial Restrictions	0.60%	$10,000	-	Learn More Reviews
Extra Restrictions	0.60%	$10,000	-	Learn More Reviews
Baraga County Restrictions	0.55%	$10,000	-	Learn More Reviews
Tri-county Restrictions	0.55%	$100,000	-	Learn More Reviews
Northland Area Restrictions	0.55%	$100,000	-	Learn More Reviews
Members First Restrictions	0.55%	$10,000	-	Learn More Reviews
Compass	0.55%	$10,000	-	Learn More Reviews
Family Financial Restrictions	0.55%	$10,000	-	Learn More Reviews
Harborlight Restrictions	0.55%	$10,000	-	Learn More Reviews
Muskegon Restrictions	0.55%	$10,000	-	Learn More Reviews
Parda Restrictions	0.55%	$100,000	-	Learn More Reviews (1)
Michigan First Restrictions	0.55%	$10,000	-	Learn More Reviews
Arbor Financial Restrictions	0.55%	$100,000	-	Learn More Reviews
Lake Huron Restrictions	0.55%	$10,000	-	Learn More Reviews
Astera Restrictions	0.55%	$10,000	-	Learn More Reviews
Kellogg Community Restrictions	0.55%	$10,000	-	Learn More Reviews (1)
Alliance Catholic Restrictions	0.55%	$10,000	-	Learn More Reviews
Tlc Community Restrictions	0.55%	$10,000	-	Learn More Reviews (2)
Cornerstone Community Financial Restrictions	0.55%	$100,000	-	Learn More Reviews
Soo Co-op Restrictions	0.50%	$10,000	-	Learn More Reviews
Loc Restrictions	0.50%	$500	-	Learn More Reviews
Omni Community Restrictions	0.50%	$10,000	-	Learn More Reviews
4front Restrictions	0.50%	$1,000	-	Learn More Reviews
U.p. State	0.50%	$10,000	-	Learn More Reviews
Iron Mountain Kingsford Community Restrictions	0.50%	$10,000	-	Learn More Reviews
Traverse Catholic	0.50%	$10,000	-	Learn More Reviews
Chippewa County Restrictions	0.50%	$10,000	-	Learn More Reviews
Calcite Restrictions	0.50%	$10,000	-	Learn More Reviews
St. Francis X Restrictions	0.50%	$10,000	-	Learn More Reviews
Northland Area Restrictions	0.50%	$10,000	-	Learn More Reviews
Forest Area Restrictions	0.50%	$10,000	-	Learn More Reviews
Wexford Community Restrictions	0.50%	$10,000	-	Learn More Reviews
Financialedge Community Restrictions	0.50%	$10,000	-	Learn More Reviews
Community First	0.50%	$10,000	-	Learn More Reviews
Lake Trust Restrictions	0.50%	$10,000	-	Learn More Reviews
Community Choice Restrictions	0.50%	$10,000	-	Learn More Reviews
Parda Restrictions	0.50%	$10,000	-	Learn More Reviews (1)
Aac Restrictions	0.50%	$10,000	-	Learn More Reviews
First Area Restrictions	0.50%	$10,000	-	Learn More Reviews
Michigan Educational Restrictions	0.50%	$10,000	-	Learn More Reviews (1)
Cp Restrictions	0.50%	$10,000	-	Learn More Reviews
South Central Restrictions	0.50%	$10,000	-	Learn More Reviews
Directions Restrictions	0.50%	$10,000	-	Learn More Reviews
Cornerstone Community Financial Restrictions	0.50%	$10,000	-	Learn More Reviews
Michigan Schools And Government Restrictions	0.50%	$10,000	-	Learn More Reviews (2)
Integra First Restrictions	0.46%	$500	-	Learn More Reviews
Tri-county Restrictions	0.45%	$10,000	-	Learn More Reviews
Tba Restrictions	0.45%	$10,000	-	Learn More Reviews
Michigan One Community Restrictions	0.45%	$10,000	-	Learn More Reviews
University Of Michigan Restrictions	0.45%	$100,000	-	Learn More Reviews
Vibe Restrictions	0.45%	$100,000	-	Learn More Reviews
United Bay Community Restrictions	0.41%	$10,000	-	Learn More Reviews
Marshall Community Restrictions	0.40%	$10,000	-	Learn More Reviews
Embers Restrictions	0.40%	$10,000	-	Learn More Reviews
Trunorth Restrictions	0.40%	$10,000	-	Learn More Reviews
Sunrise Family Restrictions	0.40%	$10,000	-	Learn More Reviews
Wanigas Restrictions	0.40%	$10,000	-	Learn More Reviews
Gr Consumers	0.40%	$10,000	-	Learn More Reviews
Kent County Restrictions	0.40%	$10,000	-	Learn More Reviews
Thornapple Restrictions	0.40%	$10,000	-	Learn More Reviews
Vibe Restrictions	0.40%	$10,000	-	Learn More Reviews
Honor Restrictions	0.35%	$10,000	-	Learn More Reviews
North Central Area Restrictions	0.35%	$10,000	-	Learn More Reviews
Marquette Community Restrictions	0.35%	$10,000	-	Learn More Reviews
Copoco Community Restrictions	0.35%	$10,000	-	Learn More Reviews
Consumers Restrictions	0.35%	$100,000	-	Learn More Reviews
Bloom Restrictions	0.35%	$100,000	-	Learn More Reviews
University Of Michigan Restrictions	0.35%	$10,000	-	Learn More Reviews
People Driven Restrictions	0.35%	$100,000	-	Learn More Reviews
Catholic Vantage Financial	0.30%	$10,000	-	Learn More Reviews
Torch Lake	0.30%	$10,000	-	Learn More Reviews
Awakon Restrictions	0.30%	$10,000	-	Learn More Reviews
West Michigan Restrictions	0.30%	$10,000	-	Learn More Reviews
Great Lakes	0.30%	$10,000	-	Learn More Reviews
Consumers Restrictions	0.30%	$10,000	-	Learn More Reviews
Rivertown Community Restrictions	0.30%	$10,000	-	Learn More Reviews
Blueox Restrictions	0.30%	$10,000	-	Learn More Reviews
People Driven Restrictions	0.30%	$10,000	-	Learn More Reviews
Lake Superior	0.25%	$10,000	-	Learn More Reviews
Bloom Restrictions	0.25%	$10,000	-	Learn More Reviews
Community West Restrictions	0.25%	$10,000	-	Learn More Reviews
Public Service Restrictions	0.21%	$100,000	-	Learn More Reviews
Dowagiac Area	0.21%	$10,000	-	Learn More Reviews
Credit Union One Restrictions	0.20%	$10,000	-	Learn More Reviews
Advia Restrictions	0.20%	$10,000	-	Learn More Reviews (2)
Public Service Restrictions	0.18%	$10,000	-	Learn More Reviews
Aeroquip Restrictions	0.15%	$1,000	-	Learn More Reviews
Straits Area Restrictions	0.15%	$10,000	-	Learn More Reviews
Arbor Financial Restrictions	0.15%	$10,000	-	Learn More Reviews
Edu Restrictions	0.10%	$500	-	Learn More Reviews
Community Financial Restrictions	0.10%	$10,000	-	Learn More Reviews
Meijer Restrictions	0.05%	$500	-	Learn More Reviews (8)

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

See rates for Online Banks →

See rates for Local Banks →

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Credit Union One-Year Certificates of Deposit 2024

Credit union certificates of deposit (“CDs”, also commonly called “time deposits” at credit unions) are contract-based and time-based savings vehicles that are offered by credit unions. In return for agreeing to keep your money tied up with the credit union for a given time period (in the case of 1-year CDs, the period is obviously 1-year), you earn a fixed rate or return that cannot change over the course of that period. Should you need your money before the expiration of the contractual period, the penalties for early withdrawal can be severe. Not all credit unions even offer early withdrawal, and many that do maintain the right to deny it in their terms and conditions. It therefore is important to fully understand the terms of any time-based deposit that you enter with a credit union.

Many Americans enjoy performing their banking transactions with credit unions citing better rates, non-profit status (owned by its depositors), more helpful employees, and a commitment to the community that is above the level offered by local banks. You will find a map with all credit unions that are close to you here. It is important to note that some credit unions have limited fields of membership, although others are more open ended. Under any circumstance, you must meet the membership requirements in order to become a member and open a CD or time deposit.

Those who are willing to tie up their money for one year will often get a slight premium over the best available savings rates. People who work with credit unions may find that they offer better rates on 1-year CDs or time deposits than local banks and online banks. You however should check the local bank rates where you live here and the online rates here.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

NCUA Insurance

Most, but not all, credit unions listed on BestCashCow are insured by the National Credit Union Administration (NCUA). You should confirm that the credit union that you are working with is NCUA-insured by visiting that institution’s BestCashCow page (NCUA coverage is detailed on the overview tab). The NCUA insures each named individual's deposits to $250,000 for all accounts at the credit union within ownership class. The rules are very similar, but not identical, to those for FDIC insurance. You should always stay within NCUA insurance limits.

BestCashCow strongly recommends that you deposit money only in NCUA insured credit unions and that you stay within insured limits. If you are considering depositing over $250,000 at a single NCUA-insured credit union across products (share certificates, time deposits, etc.) or across types of ownership (individual, joint, etc.) you should use the NCUA’s Share Insurance Toolkit in order to be sure that you are not exceeding coverage limits.

FREQUENTLY ASKED QUESTIONS ABOUT CREDIT UNIONS

Is my money any less safe at a credit union?

As long as your credit union is NCUA insured and you stay within the NCUA limits, As long as your credit union is NCUA insured and you stay within the NCUA limits, your money is no less safe than it would be in an FDIC-insured bank.

Is there any difference between a time deposit offered by a credit union and a CD account offered by a bank?

The difference is mainly one of terminology. But, you should always completely understand the terms of a time deposit or CD before you enter it, paying careful attention to the early withdrawal penalties. A reasonable early withdrawal penalty for a 1-year time deposit is 3 months.

Does the small amount of interest gained on a time deposit make sense given the fact that I am losing access to my capital (liquidity)?

This is a decision that depends on your own specific circumstances, your needs for cash, and other investments that you may wish to pursue over the next 12 months (or the period of your time deposit or CD). The premium in a one-year CD is very small, however, a small difference in compounding interest can make a large difference over long period of time. You may wish to familiarize yourself with our Savings Booster Calculator in order to understand the importance of compounding interest at higher rates on your money over time.