Weekly Rate Deal - Digital Federal Credit Union Offering 2.86% APY CD - Nationally Available

Rate information contained on this page may have changed.

I looked long and hard for a bank or credit union with CD rates above 3%. There are not many left. This week though, I did find a competitive rate from a credit union that is open to almost everyone regardless of where you live in the United States. I thought that was a deal worthy of some regognition.

Digital Federal Credit Union (DCU) is offering a 60-month CD that pays 2.86% APY with a $25,000 minimum balance and 2.76% with a $500 minimum balance. It's hard to call 2.86% APY competitive, but it is when the national 5 year CD rate average is 1.56% APY and the highest 5-year CD rate from a bank is 2.78% APY.

DCU is the largest credit union in Massachusetts with over $3 billion in assets. It is headquartered in Marlborough, MA, about 30 minutes outside of Boston and has 21 branches in the greater Boston area. The CD can be opened via a DCU branch or, via an online application.

One of the ways that credit unions differ from banks, is that they have restriced membership. You must meet the membership criteria before you can join and do business with the credit union. DCU's membership criteria is very open and almost anyone can qualify. Like most credit unions, DCU provides membership if a close family member already belongs or if you work or have retired from a certain employer. They also provide membership if you belong to a long list of organizations. For example a $10 membership to the American Association of People with Disabilities qualifies you to join DCU. It's a win-win. You can take advantage of DCU's competitive CD rates and help a worthy charity at the same time. Full eligibility information can be found here.

Digital Federal Credit Union has a Texas Ratio of 19.09% versus the national credit union average of 10.30%. That's higher than normal but still below the 100% threshold that is considered a sign of bank distress.

If you don't live near a DCU branch and don't want to open an account online, check out the best CD rates from banks and credit unions in your local area.

Previous Weekly Rate Deals

• November 29, 2011 - Community First Bank Offering 2.78% APY 60-Month CD
• November 21, 2011 - Premier Federal Credit Union Offering 2% APY on 24-Month CD
• November 14, 2011 - Institution for Savings of Newburyport Offering 3 Year CD at 2.50% APY
• November 7, 2011 - State Savings Bank of Rake, IA Offering 3.82% APY FIRA
• October 31, 2011 - First Choice Bank Offering 2.80% APY 5-Year CD
• October 24, 2011 - First National Bank of St. Ignace Offering 12-Month Flex CD at 1.51% APY
• Oct 17, 2011 - Weekly Rate Deal - Navy Federal Credit Union Offering 3% APY 12-Month CD
• Oct 7, 2011 - Farmers & Traders Bank Takes Weekly Rate Deal for 3% APY 60-Month CD

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