Massachusetts

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Credit Union CD Rates Lynn, Massachusetts 2019

Below are the best one year CD Rates from credit unions in Lynn, Massachusetts. 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.

Lynn, MA - December 11, 2019

1 Year CD National Average : 0.91% ?

Advertiser Disclosure
Credit UnionS APY MIN MILES ?
American Airlines
Restrictions
2.38% $10,000 4768.02
Usalliance
Restrictions
2.20% $500 4773.70
First Technology
Restrictions
2.20% $50,000 4790.70
Brotherhood
Restrictions
2.17% $2,500 4769.65
First Technology
Restrictions
2.10% $500 4790.70
Metro
Restrictions
2.05% $500 4770.71
2.02% $500 4863.49
Service
Restrictions
2.00% $1,000 4716.62
Somerset
Restrictions
2.00% $1,000 4747.48
Align
Restrictions
2.00% $500 4792.39
Rockland
Restrictions
2.00% $500 4754.02
Leominster
Restrictions
1.95% $1,000 4799.15
Usalliance
Restrictions
1.95% $500 4773.70
St. Jean's
Restrictions
1.90% $500 4783.05
Central One
Restrictions
1.90% $1,000 4794.14
Workers
Restrictions
1.87% $500 4810.62
Transportation
Restrictions
1.86% $1,000 4771.12
Tremont
Restrictions
1.81% $500 4761.09
1.76% $1,000 4766.05
Mycom
Restrictions
1.76% $1,000 4865.87
Quincy
Restrictions
1.76% $1,000 4762.29
Ukrainian
Restrictions
1.75% $500 4768.92
Hanscom
Restrictions
1.75% $1,000 4768.51
Webster First
Restrictions
1.66% $500 4794.88
Digital
Restrictions
1.62% $500 4788.82
First Priority
Restrictions
1.55% $1,000 4769.15
Jeanne D'arc
Restrictions
1.50% $250 4792.86
Rtn
Restrictions
1.40% $1,000 4788.28
River Works
Restrictions
1.36% $500 4770.36
1.26% $1,000 4831.12
Ohio Catholic
Restrictions
1.25% $100,000 -
Baxter
Restrictions
1.25% $500 4780.70
City Of Boston
Restrictions
1.25% $500 4772.91
Arrha
Restrictions
1.25% $1,000 4822.97
Sharon
Restrictions
1.25% $500 4764.79
Ohio Catholic
Restrictions
1.15% $25,000 -
Pioneer Valley
Restrictions
1.15% $1,000 4822.62
Crescent
Restrictions
1.15% $1,000 4757.46
1.11% $1,000 4821.32
Industrial
Restrictions
1.10% $1,000 4768.32
Gfa
Restrictions
1.05% $500 4818.47
I-c
Restrictions
1.05% $500 4808.94
1.05% $2,500 4771.04
Members Plus
Restrictions
1.01% $500 4774.50
Holyoke
Restrictions
1.01% $1,000 4829.46
Arrha
Restrictions
1.01% $1,000 4822.97
1.00% $1,000 4769.62
Nesc
Restrictions
1.00% $500 4790.63
Southbridge
Restrictions
1.00% $500 4798.65
Ohio Catholic
Restrictions
1.00% $500 -
Franklin First
Restrictions
1.00% $500 4844.70
New Bedford
Restrictions
0.95% $1,000 4733.91
Freedom
Restrictions
0.95% $500 4823.98
Liberty Bay
Restrictions
0.95% $1,000 4762.23
Metro
Restrictions
0.90% $1 4770.71
0.85% $100,000 4746.22
Millbury
Restrictions
0.80% $500 4792.26
Umassfive College
Restrictions
0.75% $500 4832.16
Southcoast
Restrictions
0.75% $500 4733.83
0.75% $500 4746.22
Alden
Restrictions
0.75% $1,000 4826.82
Athol
Restrictions
0.70% $500 4828.81
Mass Bay
Restrictions
0.70% $500 4762.95
Southern Mass
Restrictions
0.70% $500 4732.62
Taunton
Restrictions
0.60% $250 4751.74
Luso
Restrictions
0.60% $500 4820.67
Homefield
Restrictions
0.50% $1,000 4789.95
First Citizens'
Restrictions
0.45% $500 4733.76
Polish National
Restrictions
0.41% $500 4825.53
St. Mary's
Restrictions
0.40% $500 4790.17
Greylock
Restrictions
0.40% $500 4866.08
Naveo
Restrictions
0.35% $1,000 4772.74
0.20% $500 4749.14
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.

PRODUCT INFORMATION

Credit Union One-Year Certificates of Deposit 2019

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.

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