Michigan

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Special Credit Union CD Offers - Michigan 2019

Below are special Certificate of Deposit special rates and terms from credit unions in Michigan. Special CD offers can change weekly so check back frequently for updates. You can also view specials for banks in your local area.

MI - July 19, 2019

Advertiser Disclosure
Credit Union APY MIN PERIOD
United Financial 7.00% $500 12 months Learn MoreShow Less
Wildfire 3.25% $500 62 months Learn MoreShow Less
United Financial 3.25% $500 66 months Learn MoreShow Less
Elga 3.25% $25,000 65 months Learn MoreShow Less
Kellogg Community 3.15% $500 29 months Learn MoreShow Less
Elga 3.10% $25,000 55 months Learn MoreShow Less
Michigan One Community 3.04% $10,000 30 months Learn MoreShow Less
Arbor Financial 3.00% $250,000 52 months Learn MoreShow Less
Frankenmuth 3.00% $250,000 37 months Learn MoreShow Less
Blueox 3.00% $500 32 months Learn MoreShow Less
Consumers 3.00% $1,000 25 months Learn MoreShow Less
Aac 3.00% $500 60 months Learn MoreShow Less
Kellogg Community 3.00% $500 19 months Learn MoreShow Less
Delta County 2.89% $1,000 25 months Learn MoreShow Less
Aac 2.85% $500 30 months Learn MoreShow Less
West Michigan 2.85% $500 60 months Learn MoreShow Less
Members First 2.83% $1,000 27 months Learn MoreShow Less
Members First 2.81% $1,000 15 months Learn MoreShow Less
People Driven 2.80% $500 28 months Learn MoreShow Less
Elga 2.80% $25,000 42 months Learn MoreShow Less
Honor 2.80% $50 18 months Learn MoreShow Less
Delta County 2.79% $1,000 19 months Learn MoreShow Less
United Financial 2.75% $500 29 months Learn MoreShow Less
Arbor Financial 2.75% $125,000 52 months Learn MoreShow Less
Elga 2.75% $25,000 30 months Learn MoreShow Less
Family First 2.75% $1,000 42 months Learn MoreShow Less
Best Financial 2.75% $500 50 months Learn MoreShow Less
Embers 2.75% $1,000 25 months Learn MoreShow Less
Aac 2.75% $500 25 months Learn MoreShow Less
Michigan One Community 2.73% $10,000 24 months Learn MoreShow Less
Wings Financial 2.73% $90,000 60 months Learn MoreShow Less
4front 2.69% $100,000 30 months Learn MoreShow Less
Wings Financial 2.68% $10,000 60 months Learn MoreShow Less
Preferred 2.66% $1,000 25 months Learn MoreShow Less
Embers 2.65% $1,000 19 months Learn MoreShow Less
Aac 2.65% $500 21 months Learn MoreShow Less
Wings Financial 2.63% $500 60 months Learn MoreShow Less
Consumers Professional 2.63% $1,000 25 months Learn MoreShow Less
Genisys 2.61% $500 25 months Learn MoreShow Less
Traverse Catholic 2.60% $500 24 months Learn MoreShow Less
Omni Community 2.60% $1,000 50 months Learn MoreShow Less
Frankenmuth 2.60% $250,000 25 months Learn MoreShow Less
Michigan Schools And Government 2.60% $500 23 months Learn MoreShow Less
Honor 2.60% $50 18 months Learn MoreShow Less
Saginaw Medical 2.55% $500 28 months Learn MoreShow Less
Forest Area 2.54% $500 25 months Learn MoreShow Less
4front 2.53% $1,000 30 months Learn MoreShow Less
Sunrise Family 2.53% $1,000 60 months Learn MoreShow Less
Delta County 2.53% $1,000 13 months Learn MoreShow Less
Service 1 2.50% $500 11 months Learn MoreShow Less
Advia 2.50% $500 25 months Learn MoreShow Less
Financialedge Community 2.50% $50,000 13 months Learn MoreShow Less
United Financial 2.50% $500 19 months Learn MoreShow Less
Arbor Financial 2.50% $70,000 52 months Learn MoreShow Less
Best Financial 2.50% $500 37 months Learn MoreShow Less
Embers 2.50% $1,000 13 months Learn MoreShow Less
Blueox 2.50% $500 16 months Learn MoreShow Less
Aac 2.50% $500 13 months Learn MoreShow Less
Diversified Members 2.50% $200 13 months Learn MoreShow Less
Community Choice 2.50% $500 30 months Learn MoreShow Less
Covantage 2.50% $5,000 15 months Learn MoreShow Less
Kellogg Community 2.50% $500 9 months Learn MoreShow Less
4front 2.49% $100,000 13 months Learn MoreShow Less
Wings Financial 2.48% $5,000 48 months Learn MoreShow Less
Preferred 2.47% $1,000 15 months Learn MoreShow Less
Advia 2.45% $500 10 months Learn MoreShow Less
Financial Plus 2.45% $500 13 months Learn MoreShow Less
Community Financial 2.44% $1,000 29 months Learn MoreShow Less
Wings Financial 2.42% $10,000 48 months Learn MoreShow Less
Adventure 2.40% $500 12 months Learn MoreShow Less
Financialedge Community 2.40% $100,000 7 months Learn MoreShow Less
Arbor Financial 2.40% $30,000 52 months Learn MoreShow Less
Frankenmuth 2.40% $150,000 37 months Learn MoreShow Less
Elga 2.40% $25,000 18 months Learn MoreShow Less
Wings Financial 2.37% $500 48 months Learn MoreShow Less
Traverse Catholic 2.35% $500 18 months Learn MoreShow Less
Omni Community 2.35% $1,000 38 months Learn MoreShow Less
Arbor Financial 2.35% $125,000 25 months Learn MoreShow Less
Frankenmuth 2.35% $150,000 25 months Learn MoreShow Less
Lake Michigan 2.35% $500 25 months Learn MoreShow Less
Forest Area 2.33% $500 13 months Learn MoreShow Less
4front 2.33% $1,000 13 months Learn MoreShow Less
United 2.30% $500 9 months Learn MoreShow Less
Frankenmuth 2.30% $100,000 37 months Learn MoreShow Less
Parda 2.27% $500 60 months Learn MoreShow Less
Oakland County 2.27% $250,000 18 months Learn MoreShow Less
Wings Financial 2.27% $500 13 months Learn MoreShow Less
Selfreliance 2.25% $500 11 months Learn MoreShow Less
Wildfire 2.25% $500 14 months Learn MoreShow Less
Arbor Financial 2.25% $500 25 months Learn MoreShow Less
Frankenmuth 2.25% $100,000 25 months Learn MoreShow Less
West Michigan 2.25% $500 36 months Learn MoreShow Less
Lake Michigan 2.25% $500 13 months Learn MoreShow Less
Aeroquip 2.22% $1,000 9 months Learn MoreShow Less
Oakland County 2.22% $100,000 18 months Learn MoreShow Less
Michigan One Community 2.22% $10,000 12 months Learn MoreShow Less
Financialedge Community 2.20% $1,000 13 months Learn MoreShow Less
Frankenmuth 2.20% $500 7 months Learn MoreShow Less
Honor 2.20% $50 9 months Learn MoreShow Less
Teachers 2.19% $500 7 months Learn MoreShow Less
Oakland County 2.17% $500 18 months Learn MoreShow Less
Frankenmuth 2.15% $500 25 months Learn MoreShow Less
Members First 2.10% $1,000 11 months Learn MoreShow Less
Wings Financial 2.07% $90,000 36 months Learn MoreShow Less
Wings Financial 2.02% $10,000 36 months Learn MoreShow Less
Advantage One 2.00% $1,000 18 months Learn MoreShow Less
Omni Community 2.00% $1,000 26 months Learn MoreShow Less
Public Service 2.00% $1,000 23 months Learn MoreShow Less
Financialedge Community 2.00% $1,000 7 months Learn MoreShow Less
Arbor Financial 2.00% $30,000 25 months Learn MoreShow Less
Community Choice 2.00% $500 19 months Learn MoreShow Less
Wings Financial 1.96% $500 36 months Learn MoreShow Less
People Driven 1.90% $500 19 months Learn MoreShow Less
Best Financial 1.90% $500 18 months Learn MoreShow Less
Frankenmuth 1.85% $150,000 7 months Learn MoreShow Less
Arbor Financial 1.75% $500 25 months Learn MoreShow Less
Frankenmuth 1.75% $100,000 7 months Learn MoreShow Less
West Michigan 1.70% $500 12 months Learn MoreShow Less
Saginaw Medical 1.67% $25 12 months Learn MoreShow Less
Omni Community 1.65% $1,000 18 months Learn MoreShow Less
Frankenmuth 1.65% $500 7 months Learn MoreShow Less
Arbor Financial 1.50% $500 13 months Learn MoreShow Less
Journey 1.40% $2,500 14 months Learn MoreShow Less
Parda 1.15% $50,000 12 months Learn MoreShow Less
Intouch 1.01% $25 12 months Learn MoreShow Less
Parda 1.00% $500 12 months Learn MoreShow Less
Best Financial 1.00% $500 9 months Learn MoreShow Less
Parda 0.65% $500 6 months Learn MoreShow Less
Western Districts Members 0.45% $500 22 months Learn MoreShow Less
Western Districts Members 0.35% $500 18 months Learn MoreShow Less
Western Districts Members 0.25% $500 9 months Learn MoreShow Less
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 Certificates of Deposit 2019

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: https://www.bestcashcow.com/articles/can-you-always-withdraw-your-money-early-from-a-cd-9178}

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.

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 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.

SAVINGS & CD CALCULATOR

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