WaMu Brings Back 12 Month 5% APY CD

WaMu raised the rate on its 12 month CD back to 5% APY after briefly dropping it to 4.5% APY. This is the top 1 year cd rate in the nation according to the BestCashCow rate table.

WaMu has suffered greatly from the housing decline and credit crisis and yesterday fired their CEO Kerry Killian. The companies stock has dropped from $40 to under $5 over the past year. They are hungry for deposits and will pay high rates for them. Depositors though should be aware that the bank is experiencing problems and to be safe should keep deposits below the FDIC insurance limit of $100,000 for each individual deposit holder.