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Credit Union CD Rates – 2-Year – Gaithersburg, Maryland 2020

Below are two year Certificates of Deposit (CD) rates from credit unions located in Gaithersburg, Maryland. Two year CDs generally offer a higher rate than 1 year CDs but require a longer commitment. Depending on the economy, longer term CDs may or may not offer more premium as the term increases. If you expect rates on credit union and bank products to drop, can afford to lock the money away, and feel you are receiving enough premium for the time commitment, then longer-term CDs may be appropriate.

Gaithersburg, MD - April 9, 2020

2 Year CD National Average : 0.80% ?

Advertiser Disclosure
Credit Unions APY MIN MILES ?
1.95% $2,500 4923.44
1.92% $500 4872.87
1.80% $500 4882.98
1.75% $1,000 4892.16
1.70% $25,000 4871.88
1.70% $100,000 4869.87
1.65% $10,000 4869.87
Point Breeze
1.65% $10,000 4894.02
1.60% $10,000 4948.43
Cedar Point
1.56% $1,000 4841.25
1.55% $300 4881.58
1.50% $10,000 4900.39
1.50% $500 4889.06
1.50% $500 4884.97
1.45% $100 4871.88
Signal Financial
1.41% $500 4894.67
1.40% $500 4888.68
1.38% $1,000 4884.09
1.36% $1,000 4908.93
1.35% $10,000 4878.77
1.35% $1,000 4873.71
1.31% $1,000 4880.95
Act 1st
1.31% $500 4996.94
Money One
0.97% $10,000 4879.76
0.90% $500 4993.11
0.85% $500 4993.19
Johns Hopkins
0.80% $500 4883.75
Ohio Catholic
0.75% $25,000 -
0.75% $0 4884.04
*APY=Annual Percentage Yield. This page is updated regularly. Rates are subject to change at any time without notice. You only need $500 to open a Savings Certificate, with the exception of the Jumbo CD. A penalty may be charged for early withdrawal. Other terms may be available, call 410-487-7328 or 800-879-7328 for details. The minimum deposit for Jumbo CDs is $100,000.
Ohio Catholic
0.70% $500 -
0.60% $500 4886.88
0.60% $500 4864.07
Partners 1st
0.38% $500 4832.37
0.35% $1,000 4909.16
0.25% $500 4900.39
0.20% $500 4882.47
All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

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


Credit Union Certificates of Deposit 2020

Credit union certificates of deposit (“CDs”, also commonly called “time deposits�t 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, 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 from CDs; many that do offer it maintain the right to deny it in their fine print. It therefore is important to fully understand the terms of any time-based deposit that you enter with a credit union. Read this article for further detail on early withdrawal penalties. {hyperlink:}

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 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.


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 CD or time deposit is 3 months, and a reasonable early withdrawal penalty for a longer term CD is 6 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 period of your time deposit or CD. The premium in a one-year CD is very small, with the premium of longer-term CDs being a little wider. 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  {insert hyperlink} in order to understand the importance of compounding interest at higher rates on your money over time.


Find out how much extra money you can earn by moving your bank money into an account that pays more.

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