Michigan

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Credit Union CD Rates Farmington Hills, Michigan 2019

Below are the best one year CD Rates from credit unions in Farmington Hills, Michigan. 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.

Farmington Hills, MI - August 21, 2019

1 Year CD National Average : 1.01% ?

Advertiser Disclosure
Credit UnionS APY MIN MILES ?
Security
Restrictions
2.40% $500 5340.00
Adventure
Restrictions
2.40% $500 5421.81
Dort
Restrictions
2.30% $1,000 5338.46
2.30% $500 5290.68
2.22% $10,000 5398.73
Credit Union One
Restrictions
2.22% $100,000 5293.39
Case
Restrictions
2.20% $500 5364.40
2.17% $10,000 5408.63
Members First
Restrictions
2.16% $1,000 5388.00
2.15% $100,000 5363.39
2.12% $1,000 5367.57
2.10% $200 5284.21
Kellogg Community
Restrictions
2.10% $500 5377.79
Team One
Restrictions
2.10% $500 5366.16
Genisys
Restrictions
2.10% $500 5305.75
Financial Plus
Restrictions
2.10% $500 5338.54
Filer
Restrictions
2.07% $25,000 5501.04
Elga
Restrictions
2.05% $1,000 5336.13
Port City
Restrictions
2.02% $500 5460.58
First General
Restrictions
2.02% $500 5457.29
2.02% $500 5416.81
Loc
Restrictions
2.02% $500 5304.28
2.02% $500 5398.73
Astera
Restrictions
2.02% $500 5368.91
Wanigas
Restrictions
2.02% $500 5365.10
Filer
Restrictions
2.02% $1,000 5501.04
American 1
Restrictions
2.00% $500 5301.62
2.00% $2,500 5303.27
Muskegon Co Op
Restrictions
2.00% $500 5460.62
2.00% $500 5426.07
Safe Harbor
Restrictions
2.00% $1,000 5496.54
2.00% $500 5424.88
Intouch
Restrictions
2.00% $1,000 5306.77
Unify Financial
Restrictions
1.96% $100,000 5311.04
1.95% $500 5367.87
Saginaw Medical
Restrictions
1.92% $500 5369.55
Tlc Community
Restrictions
1.90% $1,000 5311.62
1.90% $50 5363.39
Lafcu
Restrictions
1.90% $10,000 5371.99
Family Financial
Restrictions
1.87% $500 5483.88
Wings Financial
Restrictions
1.87% $90,000 5295.38
Peninsula
Restrictions
1.85% $1,000 5593.55
Wings Financial
Restrictions
1.81% $10,000 5295.38
1.80% $500 5370.50
Harborlight
Restrictions
1.80% $500 5470.03
1.77% $500 5491.46
1.76% $500 5447.10
Gratiot Community
Restrictions
1.76% $1,000 5396.21
Oakland County
Restrictions
1.76% $500 5309.93
Our
Restrictions
1.76% $500 5298.19
1.75% $1,000 5289.45
Wildfire
Restrictions
1.75% $2,000 5370.62
Adventure
Restrictions
1.75% $500 5421.81
Family First
Restrictions
1.75% $500 5366.83
Unify Financial
Restrictions
1.75% $1,000 5311.04
Gerber
Restrictions
1.75% $1,000 5456.71
Covantage
Restrictions
1.75% $1,000 5662.59
Service 1
Restrictions
1.75% $500 5458.35
Lake Huron
Restrictions
1.71% $500 5368.60
Journey
Restrictions
1.70% $500 5377.56
Saginaw Medical
Restrictions
1.67% $25 5369.55
Lenco
Restrictions
1.51% $3,000 5311.23
Cp
Restrictions
1.51% $500 5342.83
Community Focus
Restrictions
1.50% $1,000 5288.29
Dfcu Financial
Restrictions
1.50% $100,000 5291.87
1.44% $500 5407.11
United Financial
Restrictions
1.40% $500 5362.26
Frankenmuth
Restrictions
1.40% $500 5354.29
1.36% $100,000 5413.79
Best Financial
Restrictions
1.30% $500 5457.52
Embers
Restrictions
1.26% $1,000 5640.17
Muskegon
Restrictions
1.26% $500 5460.16
Blueox
Restrictions
1.26% $10,000 5378.89
Community West
Restrictions
1.25% $500 5416.14
West Michigan
Restrictions
1.21% $500 5426.11
1.21% $1,000 5413.79
1.21% $500 5716.62
Omni Community
Restrictions
1.20% $1,000 5377.35
Lake Trust
Restrictions
1.19% $10,000 5366.54
Michigan First
Restrictions
1.16% $100,000 5299.37
Parda
Restrictions
1.16% $50,000 5306.28
Soo Co-op
Restrictions
1.15% $100,000 5505.15
Michigan First
Restrictions
1.11% $10,000 5299.37
Forest Area
Restrictions
1.11% $500 5471.15
1.10% $100,000 5313.64
Tba
Restrictions
1.10% $500 5491.17
1.10% $500 5425.19
Intouch
Restrictions
1.01% $25 5306.77
Great Lakes First
Restrictions
1.01% $1,000 5593.93
Delta County
Restrictions
1.01% $1,000 5594.16
Parda
Restrictions
1.00% $500 5306.28
Public Service
Restrictions
1.00% $10,000 5294.90
Advantage One
Restrictions
1.00% $1,000 5287.13
1.00% $10,000 5313.64
1.00% $1,000 5639.64
1.00% $2,000 5285.80
Thornapple
Restrictions
1.00% $1,000 5396.43
Preferred
Restrictions
1.00% $10,000 5418.91
South Central
Restrictions
1.00% $500 5343.43
Alliance Catholic
Restrictions
1.00% $500 5297.33
Extra
Restrictions
1.00% $500 5291.90
Wexford Community
Restrictions
1.00% $500 5462.95
First Area
Restrictions
1.00% $500 5379.08
Limestone
Restrictions
1.00% $1,000 5566.02
St. Francis X
Restrictions
1.00% $500 5485.44
0.92% $500 5433.81
0.90% $1,000 5414.18
Soo Co-op
Restrictions
0.90% $500 5505.15
Advia
Restrictions
0.90% $500 5282.76
Kalsee
Restrictions
0.90% $10,000 5392.78
4front
Restrictions
0.90% $100,000 5491.98
0.84% $500 5296.61
0.80% $500 5408.59
Credit Union One
Restrictions
0.80% $2,500 5293.39
0.80% $1,000 5594.17
0.80% $1,000 5305.94
Teachers
Restrictions
0.79% $1,000 5407.57
Chippewa County
Restrictions
0.75% $1,000 5505.57
0.75% $500 5409.85
People Driven
Restrictions
0.75% $500 5299.45
Aac
Restrictions
0.75% $500 5425.93
Tahquamenon Area
Restrictions
0.75% $100 5542.70
4front
Restrictions
0.75% $1,000 5491.98
Zeal
Restrictions
0.70% $1,000 5300.18
Northland Area
Restrictions
0.65% $50,000 5380.59
Northland Area
Restrictions
0.60% $500 5380.59
Calcite
Restrictions
0.60% $1,000 5439.49
0.60% $1,000 5371.45
Baraga County
Restrictions
0.55% $1,000 5693.55
Meijer
Restrictions
0.55% $500 5427.66
Honor
Restrictions
0.55% $50 5417.61
Aeroquip
Restrictions
0.50% $1,000 5416.35
United
Restrictions
0.50% $500 5428.52
Community Choice
Restrictions
0.50% $500 5304.53
Dfcu Financial
Restrictions
0.50% $1,000 5291.87
Integra First
Restrictions
0.46% $500 5593.16
Tri-county
Restrictions
0.45% $10,000 5592.78
Sunrise Family
Restrictions
0.45% $1,000 5368.39
0.41% $500 5370.27
My Personal
Restrictions
0.40% $500 5424.98
0.40% $1,000 5305.03
Straits Area
Restrictions
0.40% $1,000 5476.71
Kent County
Restrictions
0.40% $500 5425.67
Copoco Community
Restrictions
0.35% $500 5371.48
0.35% $500 5433.85
Consumers
Restrictions
0.35% $25,000 5399.21
0.35% $1,000 5640.24
Fme
Restrictions
0.32% $10,000 5285.14
Consumers
Restrictions
0.30% $1,000 5399.21
Awakon
Restrictions
0.30% $1,000 5454.55
0.30% $500 5711.96
0.30% $500 5422.07
0.25% $500 5736.00
Tri-cities
Restrictions
0.25% $1,000 5452.98
Arbor Financial
Restrictions
0.15% $500 5399.33
0.10% $500 5302.94
Credit Union One
Restrictions
0.05% $500 5293.39
Lake Michigan
Restrictions
0.05% $500 5428.91
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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