Michigan

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Credit Union CD Rates Farmington Hills, Michigan 2020

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 - July 8, 2020

1 Year CD National Average : 0.46% ?

Advertiser Disclosure
Credit Unions APY MIN MILES ?
Sponsored Advertiser Disclosure
1.71% $500 5416.81 Learn More
Covantage
Restrictions
1.25% $10,000 5662.59 Learn More
Port City
Restrictions
1.21% $500 5460.58 Learn More
Limestone
Restrictions
1.20% $100,000 5566.02 Learn More
Harborlight
Restrictions
1.20% $500 5470.03 Learn More
Members First
Restrictions
1.16% $1,000 5388.00 Learn More
Parda
Restrictions
1.15% $50,000 5306.28 Learn More
1.11% $100,000 5413.79 Learn More
Wings Financial
Restrictions
1.11% $100,000 5295.38 Learn More
1.10% $100,000 - Learn More
Adventure
Restrictions
1.10% $500 5421.81 Learn More
Security
Restrictions
1.10% $500 5340.00 Learn More
Elga
Restrictions
1.10% $100,000 5336.13 Learn More
Wings Financial
Restrictions
1.06% $10,000 5295.38 Learn More
1.05% $10,000 - Learn More
Team One
Restrictions
1.05% $500 5366.16 Learn More
1.01% $1,000 5414.18 Learn More
Intouch
Restrictions
1.01% $25 5306.77 Learn More
Parda
Restrictions
1.00% $500 5306.28 Learn More
Peninsula
Restrictions
1.00% $1,000 5593.55 Learn More
Muskegon Co Op
Restrictions
1.00% $500 5460.62 Learn More
Limestone
Restrictions
1.00% $1,000 5566.02 Learn More
Wildfire
Restrictions
1.00% $500 5370.62 Learn More
First Area
Restrictions
1.00% $500 5379.08 Learn More
Elga
Restrictions
1.00% $1,000 5336.13 Learn More
Thornapple
Restrictions
1.00% $1,000 5396.43 Learn More
Lake Michigan
Restrictions
1.00% $500 5428.91 Learn More
American 1
Restrictions
1.00% $500 5301.62 Learn More
1.00% $50,000 5305.94 Learn More
0.95% $1,000 5413.79 Learn More
0.94% $25,000 5296.61 Learn More
0.90% $50,000 5367.57 Learn More
0.90% $100,000 5363.39 Learn More
Astera
Restrictions
0.90% $500 5368.91 Learn More
Credit Union One
Restrictions
0.90% $100,000 5293.39 Learn More
Service 1
Restrictions
0.85% $500 5458.35 Learn More
Saginaw Medical
Restrictions
0.85% $25 5369.55 Learn More
Safe Harbor
Restrictions
0.85% $25,000 5496.54 Learn More
0.85% $1,000 5289.45 Learn More
0.85% $50,000 5426.07 Learn More
Kellogg Community
Restrictions
0.85% $50,000 5377.79 Learn More
0.84% $500 5296.61 Learn More
0.80% $1,000 5367.57 Learn More
Muskegon
Restrictions
0.80% $500 5460.16 Learn More
0.80% $500 5408.59 Learn More
Family Financial
Restrictions
0.80% $25,000 5483.88 Learn More
United Financial
Restrictions
0.80% $100,000 5362.26 Learn More
Frankenmuth
Restrictions
0.80% $100,000 5354.29 Learn More
Case
Restrictions
0.80% $500 5364.40 Learn More
Safe Harbor
Restrictions
0.80% $1,000 5496.54 Learn More
Filer
Restrictions
0.80% $25,000 5501.04 Learn More
0.80% $200 5284.21 Learn More
Preferred
Restrictions
0.80% $10,000 5418.91 Learn More
West Michigan
Restrictions
0.80% $100,000 5426.11 Learn More
Zeal
Restrictions
0.80% $100,000 5300.18 Learn More
0.80% $500 5426.07 Learn More
0.80% $1,000 5305.94 Learn More
0.76% $500 5716.62 Learn More
Omni Community
Restrictions
0.75% $100,000 5377.35 Learn More
Michigan First
Restrictions
0.75% $100,000 5299.37 Learn More
Family First
Restrictions
0.75% $1,000 5366.83 Learn More
Our
Restrictions
0.75% $500 5298.19 Learn More
Embers
Restrictions
0.75% $90,000 5640.17 Learn More
Soo Co-op
Restrictions
0.75% $500 5505.15 Learn More
Lafcu
Restrictions
0.75% $10,000 5371.99 Learn More
Financial Plus
Restrictions
0.75% $500 5338.54 Learn More
Gerber
Restrictions
0.70% $1,000 5456.71 Learn More
Ohio Catholic
Restrictions
0.70% $100,000 - Learn More
Lenco
Restrictions
0.70% $3,000 5311.23 Learn More
0.70% $10,000 5408.63 Learn More
First General
Restrictions
0.70% $500 5457.29 Learn More
Family Financial
Restrictions
0.70% $500 5483.88 Learn More
United Financial
Restrictions
0.70% $500 5362.26 Learn More
Filer
Restrictions
0.70% $1,000 5501.04 Learn More
Zeal
Restrictions
0.70% $1,000 5300.18 Learn More
Genisys
Restrictions
0.70% $100,000 5305.75 Learn More
Kellogg Community
Restrictions
0.70% $500 5377.79 Learn More
0.65% $500 5425.19 Learn More
Trunorth
Restrictions
0.65% $500 5649.23 Learn More
Ohio Catholic
Restrictions
0.65% $25,000 - Learn More
0.65% $50 5363.39 Learn More
4front
Restrictions
0.65% $100,000 5491.98 Learn More
Best Financial
Restrictions
0.65% $500 5457.52 Learn More
Genisys
Restrictions
0.65% $500 5305.75 Learn More
Great Lakes First
Restrictions
0.60% $1,000 5593.93 Learn More
0.60% $500 5491.46 Learn More
Ohio Catholic
Restrictions
0.60% $500 - Learn More
Extra
Restrictions
0.60% $500 5291.90 Learn More
Tlc Community
Restrictions
0.60% $1,000 5311.62 Learn More
Kalsee
Restrictions
0.60% $10,000 5392.78 Learn More
0.60% $100,000 5371.45 Learn More
Lake Huron
Restrictions
0.60% $500 5368.60 Learn More
Arbor Financial
Restrictions
0.60% $70,000 5399.33 Learn More
Frankenmuth
Restrictions
0.60% $500 5354.29 Learn More
Tba
Restrictions
0.60% $500 5491.17 Learn More
0.60% $500 5409.85 Learn More
0.60% $500 5290.68 Learn More
Calcite
Restrictions
0.60% $1,000 5439.49 Learn More
Delta County
Restrictions
0.60% $1,000 5594.16 Learn More
Intouch
Restrictions
0.60% $1,000 5306.77 Learn More
St. Francis X
Restrictions
0.60% $100,000 5485.44 Learn More
Baraga County
Restrictions
0.55% $1,000 5693.55 Learn More
Northland Area
Restrictions
0.55% $50,000 5380.59 Learn More
Michigan First
Restrictions
0.55% $10,000 5299.37 Learn More
Alliance Catholic
Restrictions
0.55% $500 5297.33 Learn More
0.55% $500 5433.81 Learn More
Tri-county
Restrictions
0.55% $50,000 5592.78 Learn More
0.50% $500 5424.88 Learn More
0.50% $1,000 5639.64 Learn More
Loc
Restrictions
0.50% $500 5304.28 Learn More
Cp
Restrictions
0.50% $500 5342.83 Learn More
Northland Area
Restrictions
0.50% $500 5380.59 Learn More
Unify Financial
Restrictions
0.50% $1,000 5311.04 Learn More
Forest Area
Restrictions
0.50% $500 5471.15 Learn More
Omni Community
Restrictions
0.50% $1,000 5377.35 Learn More
Tahquamenon Area
Restrictions
0.50% $100 5542.70 Learn More
0.50% $2,500 5303.27 Learn More
4front
Restrictions
0.50% $1,000 5491.98 Learn More
Chippewa County
Restrictions
0.50% $1,000 5505.57 Learn More
Vibe
Restrictions
0.50% $100,000 5309.93 Learn More
0.50% $1,000 5371.45 Learn More
Lake Trust
Restrictions
0.50% $500 5366.54 Learn More
0.50% $1,000 5594.17 Learn More
South Central
Restrictions
0.50% $500 5343.43 Learn More
Aac
Restrictions
0.50% $500 5425.93 Learn More
Community Choice
Restrictions
0.50% $500 5304.53 Learn More
Wexford Community
Restrictions
0.50% $500 5462.95 Learn More
Wanigas
Restrictions
0.50% $500 5365.10 Learn More
St. Francis X
Restrictions
0.50% $500 5485.44 Learn More
Integra First
Restrictions
0.46% $500 5593.16 Learn More
Advia
Restrictions
0.45% $500 5282.76 Learn More
Vibe
Restrictions
0.45% $100,000 5309.93 Learn More
0.45% $100,000 5313.64 Learn More
0.45% $500 5367.87 Learn More
0.45% $500 5398.73 Learn More
Tri-county
Restrictions
0.45% $10,000 5592.78 Learn More
0.41% $500 5370.27 Learn More
United
Restrictions
0.40% $500 5428.52 Learn More
Vibe
Restrictions
0.40% $500 5309.93 Learn More
Sunrise Family
Restrictions
0.40% $1,000 5368.39 Learn More
Embers
Restrictions
0.40% $1,000 5640.17 Learn More
Blueox
Restrictions
0.40% $10,000 5378.89 Learn More
Kent County
Restrictions
0.40% $500 5425.67 Learn More
Meijer
Restrictions
0.40% $500 5427.66 Learn More
0.40% $500 5447.10 Learn More
0.35% $1,000 5640.24 Learn More
Copoco Community
Restrictions
0.35% $500 5371.48 Learn More
People Driven
Restrictions
0.35% $25,000 5299.45 Learn More
0.35% $10,000 5313.64 Learn More
Dfcu Financial
Restrictions
0.35% $100,000 5291.87 Learn More
0.35% $500 5433.85 Learn More
Consumers
Restrictions
0.35% $25,000 5399.21 Learn More
Bloom
Restrictions
0.35% $100,000 5424.98 Learn More
Honor
Restrictions
0.35% $50 5417.61 Learn More
Teachers
Restrictions
0.32% $1,000 5407.57 Learn More
Awakon
Restrictions
0.30% $1,000 5454.55 Learn More
0.30% $500 5711.96 Learn More
People Driven
Restrictions
0.30% $500 5299.45 Learn More
0.30% $500 5422.07 Learn More
Consumers
Restrictions
0.30% $1,000 5399.21 Learn More
West Michigan
Restrictions
0.30% $500 5426.11 Learn More
Credit Union One
Restrictions
0.30% $2,500 5293.39 Learn More
0.30% $500 5370.50 Learn More
Community West
Restrictions
0.25% $500 5416.14 Learn More
Dfcu Financial
Restrictions
0.25% $1,000 5291.87 Learn More
Bloom
Restrictions
0.25% $500 5424.98 Learn More
0.25% $500 5736.00 Learn More
Public Service
Restrictions
0.21% $100,000 5294.90 Learn More
0.20% $500 5407.11 Learn More
Public Service
Restrictions
0.18% $10,000 5294.90 Learn More
Straits Area
Restrictions
0.15% $1,000 5476.71 Learn More
Aeroquip
Restrictions
0.15% $1,000 5416.35 Learn More
Arbor Financial
Restrictions
0.15% $500 5399.33 Learn More
0.10% $1,000 5305.03 Learn More
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 2020

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.

SAVINGS & CD CALCULATOR

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