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6 Best Credit Union CD Rates

Spencer TierneyNovember 14, 2019

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Credit unions tend to have better savings rates than traditional banks, and some even compete with online banks' rates. Share certificates — as credit unions call their certificates of deposits — have terms that range from several months to years, with minimum deposits varying by institution.

Unlike banks, credit unions can restrict membership based on geography, employer and other criteria, so be sure to check eligibility requirements. Here's a look at some of the best credit union CD rates.

Summary of Best Credit Union CD Rates

Alliant Credit Union CD

Alliant Credit Union CD

1-year APY

0.55%

With $1,000 minimum balance

3-year APY

0.70%

With $1,000 minimum balance

5-year APY

0.75%

With $1,000 minimum balance

Minimum Balance

$1,000

Federally insured by the NCUA


3-year APY

0.70%

With $1,000 minimum balance

5-year APY

0.75%

With $1,000 minimum balance

Why we like it

Alliant offers high annual percentage yields on certificate rates, low minimum deposit requirements and membership to anyone who agrees to support Alliant's partner charity, Foster Care to Success. The credit union makes a $5 donation on your behalf.

Read Full Review

Connexus Credit Union CD

Connexus Credit Union CD

1-year APY

0.61%

With $5,000 minimum balance

3-year APY

0.80%

With $5,000 minimum balance

5-year APY

0.91%

With $5,000 minimum balance

Minimum Balance

$5,000

Federally insured by the NCUA


3-year APY

0.80%

With $5,000 minimum balance

5-year APY

0.91%

With $5,000 minimum balance

Why we like it

Connexus Credit Union offers few share certificates, but each one has a solid rate. The minimum is somewhat high compared to other credit unions. To become a member, you can make a $5 donation to the nonprofit Connexus Association.

Read Full Review

Service Credit Union CD

Service Credit Union CD

1-year APY

0.55%

With $1,000 minimum balance

3-year APY

0.80%

With $1,000 minimum balance

5-year APY

1.30%

With $1,000 minimum balance

Minimum Balance

$1,000

Federally insured by the NCUA


3-year APY

0.80%

With $1,000 minimum balance

5-year APY

1.30%

With $1,000 minimum balance

Why we like it

Service Credit Union mainly serves those with military backgrounds as well as people who live or work in New Hampshire or parts of Massachusetts. Its range of high certificate rates and a relatively low minimum make for a solid combination.

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Navy Federal Credit Union Standard Certificate

Navy Federal Credit Union CD

1-year APY

0.80%

With $1,000 minimum balance

3-year APY

1.05%

With $10,000 minimum balance

5-year APY

1.20%

With $10,000 minimum balance

Minimum Balance

$1,000

Federally insured by the NCUA


3-year APY

1.05%

With $10,000 minimum balance

5-year APY

1.20%

With $10,000 minimum balance

Why we like it

As the largest credit union nationwide, Navy Federal also boasts an impressive range of share certificate rates. To join, you generally need to be affiliated with the military or have family that is.

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America First Credit Union CD

America First Credit Union CD

1-year APY

0.45%

With $500 minimum balance

3-year APY

0.65%

With $500 minimum balance

5-year APY

0.85%

With $500 minimum balance

Minimum Balance

$500

Federally insured by the NCUA


3-year APY

0.65%

With $500 minimum balance

5-year APY

0.85%

With $500 minimum balance

Why we like it

America First members mainly must reside in one of several counties in Utah, Arizona, or Nevada, or work in the food industry in Utah. Its share certificates’ minimum is low and rates tend to be high.

Read Full Review

PenFed Credit Union Money Market Certificate

PenFed Credit Union CD

1-year APY

0.50%

With $1,000 minimum balance

3-year APY

0.60%

With $1,000 minimum balance

5-year APY

0.80%

With $1,000 minimum balance

Minimum Balance

$1,000

Federally insured by the NCUA


3-year APY

0.60%

With $1,000 minimum balance

5-year APY

0.80%

With $1,000 minimum balance

Why we like it

Pentagon Federal mainly serves those who serve in the military and their families, along with a few other eligibility situations such as working under certain employers. PenFed’s money market certificates, what it calls its standard CDs, range from six months to seven years, with high rates across the board. And the minimum to open is low.

Read Full Review

» Want to see more CD options? Check out our list of the best CD rates overall

How do CDs at banks and credit unions differ?

Banks are for-profit institutions while credit unions are nonprofits. Your banking needs for CDs can generally be met at either.

Do banks or credit unions offer better rates?

On average, you can find credit unions with higher rates than traditional banks. However, online banks tend to be better than both, offering some of the best rates available.

» Curious about other savings options? Check out NerdWallet’s best high-yield online savings accounts

Best 1-year credit union CD rates

  • America First Credit Union: 0.45% APY.

  • Alliant Credit Union: 0.55% APY.

  • Connexus Credit Union: 0.61% APY.

  • Service Credit Union: 0.55% APY.

  • Navy Federal Credit Union: 0.80% APY.

  • Pentagon Federal Credit Union: 0.50% APY.

Last updated on November 14, 2019

Methodology

We took a close look at some of the nation's largest credit unions, based on deposits as well as broad-based membership requirements, in addition to other notable credit unions in the industry. Higher rates might be available elsewhere.