Searching through the best CD rates, we found several credit unions offering CD rates above 4% and up to 7.5% APY. That's incredible in today's rate environment where even 3% APY sounds good. The catch - small minimum balances. The benefit, relatively short terms. If you want to put money in for a child or grandchild, or are savings for a new piece of furniture or some other moderately priced item, these accounts might be worth a look. As with all credit unions, you must also be eligible for membership. Here's a sampling of what we have found so far.
Mid American is offering a 7.5% APY 7.5 month CD to celebrate the 75th Anniversary of the Credit Union's founding. Congratulations. That's currently the top bank of credit union rate on BestCashCow. The maximum amount that can be invested in this CD is $750. You can become a member if you live or work in one of the Kansas counties that the credit union serves. See a complete list of MidAmerican branches. Mid American has $161 million in assets and a Texas Ratio of 27.65 versus a credit union average of 9.60% according to BestCashCow data.
A+ is offering a 1 year CD paying 5% APYwith a maximum balance of $1,000. You must be a Texas resident to join the credit union and you can apply online or via one of its branches. A+ has $817 million in assets and a Texas Ratio of 3.97% verus the credit union average of 9.60% (lower ratios are better).
Patelco is offering a 1 Year CD paying 5% APY with a maximum balance of $1,000 to new members. Patelco membership is relatively open and chances are if you want to join you can find a way to do it no matter where you live in the United States. Patelco is one of the larger credit unions in the United States (26th largest according to BestCashCow data) with over $3.5 billion in assets. It's Texas Ratio of 11.06% is just slightly higher than the national CU average of 9.60%.
View a comprehensive table of credit union cd rates in your state by clicking through on the CD tab above.