Digital Credit Union is currently offering an 8-month CD that pays 1.50% APY. That's higher than every 1 year, 2 year, and and almost all three year CDs listed. The CD has a minimum balance of $1,000.
The CD can be opened in a branch or online and is open to all members of DCU anywhere in the United States.
DCU is the largest credit union in Massachusetts with over $3 billion in assets. It is headquartered in Marlborough, MA, about 30 minutes outside of Boston and has 21 branches in the greater Boston area.
One of the ways that credit unions differ from banks, is that they have restriced membership. You must meet the membership criteria before you can join and do business with the credit union. DCU's membership criteria is very open and almost anyone can qualify. Like most credit unions, DCU provides membership if a close family member already belongs or if you work or have retired from a certain employer. They also provide membership if you belong to a long list of organizations. For example a $10 membership to the American Association of People with Disabilities qualifies you to join DCU. It's a win-win. You can take advantage of DCU's competitive CD rates and help a worthy charity at the same time. Full eligibility information can be found here.
Healthwise, Digital Federal Credit Union has a Texas Ratio of 10.69% versus the national credit union average of 7.82%. One hundred percent is considered the theshold for severe bank or credit union distress.
If you don't live near a DCU branch and don't want to open an account online, check out the best CD rates from banks and credit unions in your local area.