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8 Best Credit Union CD Rates 2022

Feb 4, 2022

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Credit unions tend to have higher savings rates than banks, and some even compete with online banks' rates. Share certificates — what many credit unions call their certificates of deposit — 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 CD rates:

Best Credit Union CD rates for 1- to 5-year terms:

Easy to join:

  • Pentagon Federal Credit Union: 2.30%-3.20% APY, $1,000 minimum deposit.

  • Connexus Credit Union: 1.76%-2.96% APY, $5,000 minimum deposit.

  • Alliant Credit Union: 2.40%-3.25% APY, $1,000 minimum deposit.

  • Service Credit Union: 0.50%-0.85% APY, $500 minimum deposit.

Competitive rates but restrictive membership:

  • Navy Federal Credit Union: 2.10%-2.80% APY, $1,000 minimum deposit.

  • SchoolsFirst Federal Credit Union: 0.95%-1.95% APY, $500 minimum deposit.

  • Golden 1 Credit Union: 0.50%-1.00% APY, $500 minimum deposit.

  • Security Service Federal Credit Union: 1.40%-2.80% APY, $500 minimum deposit.

Best Credit Union CD Rates 2022

Connexus Credit Union CD

4.5

NerdWallet rating 
Connexus Credit Union CD

Minimum deposit

$5,000

Federally insured by NCUA

1-year APY

1.76%

3-year APY

2.36%

5-year APY

2.96%

3-year APY

2.36%

5-year APY

2.96%

Why we like it

Overview: Connexus Credit Union offers a handful of terms for share certificates, with none below one year, but each one has a solid rate. The $5,000 minimum is somewhat high compared to other credit unions.

Membership requirement: One of the easiest ways is to make a one-time donation of $5 to the nonprofit Connexus Association.

Read Full Review

PenFed Credit Union Money Market Certificate

4.5

NerdWallet rating 
PenFed Credit Union Money Market Certificate

Minimum deposit

$1,000

Federally insured by NCUA

1-year APY

2.30%

3-year APY

3.25%

5-year APY

3.20%

3-year APY

3.25%

5-year APY

3.20%

Why we like it

Overview: Pentagon Federal, or PenFed, historically focused on serving military personnel and their families, but it expanded membership in 2019 so you no longer need a link to the military to join. Its money market certificates — what the credit union calls CDs — have solid rates across terms from six months to seven years. The opening minimum of $1,000 is somewhat low.

Membership requirement: PenFed is available to anyone, and as part of sign-up, you need to open a savings account with at least $5 to take advantage of its other accounts, including certificates.

Federally insured by NCUA.

Read Full Review

Service Credit Union CD

5.0

NerdWallet rating 
Service Credit Union CD

Minimum deposit

$500

Federally insured by NCUA

1-year APY

0.50%

3-year APY

0.70%

5-year APY

0.85%

3-year APY

0.70%

5-year APY

0.85%

Why we like it

Overview: Service Credit Union’s range of competitive certificate rates and a low minimum deposit make for a solid combination. The credit union historically focused on serving those with military backgrounds, but there’s now a way for anyone to be eligible to join.

Membership requirement: Outside of qualifying through military affilitations, you can be eligible by becoming a member of the nonprofit American Consumer Council. The cost is either an $8 fee or free if you use Service Credit Union’s promo code for ACC members.

Read Full Review

Golden 1 Credit Union CD

3.0

NerdWallet rating 
Golden 1 Credit Union CD

Minimum deposit

$500

Federally insured by NCUA

1-year APY

0.50%

3-year APY

0.75%

5-year APY

1.00%

3-year APY

0.75%

5-year APY

1.00%

Why we like it

Overview: Golden 1 Credit Union offers competitive rates on term savings certificates — its name for CDs — and a low minimum of $500.

Membership requirement: You typically must live or work in California or work for certain employers.

Read Full Review

Navy Federal Credit Union Standard Certificate

4.0

NerdWallet rating 
Navy Federal Credit Union Standard Certificate

Minimum deposit

$1,000

Federally insured by NCUA

1-year APY

2.10%

3-year APY

2.35%

5-year APY

2.80%

3-year APY

2.35%

5-year APY

2.80%

Why we like it

Overview: As the largest credit union with over 11 million members, Navy Federal also boasts an impressive range of share certificate rates and a low minimum deposit.

Membership requirement: You or a family member generally need to be affiliated with the military.

Read Full Review

SchoolsFirst FCU CD

3.0

NerdWallet rating 
SchoolsFirst FCU CD

Minimum deposit

$500

Federally insured by NCUA

1-year APY

0.95%

3-year APY

1.45%

5-year APY

1.95%

3-year APY

1.45%

5-year APY

1.95%

Why we like it

Overview: SchoolsFirst Federal Credit Union is a California-based institution that focuses on serving teachers and other employees at schools in the state. Its share certificates have terms from one month to five years and yields are competitive. The minimum balance is $500, and if you have $20,000 or more, higher rates are available.

Membership requirement: You work or have family that works at schools in the state of California as teachers or other employees.

Read Full Review

Alliant Credit Union CD

4.5

NerdWallet rating 
Alliant Credit Union CD

Minimum deposit

$1,000

Federally insured by NCUA

1-year APY

2.40%

3-year APY

2.80%

5-year APY

N/A

3-year APY

2.80%

5-year APY

N/A

Why we like it

Overview: Alliant, an online credit union, has solid rates across its share certificates whose terms range from one year through five years.

Membership requirement: The easiest way to become a member for people nationwide is to join the national nonprofit Foster Care for Success, which requires a one-time $5 membership fee. Alliant pays this fee on a new member’s behalf.

Read Full Review

Security Service Federal Credit Union CD

4.0

NerdWallet rating 
Security Service Federal Credit Union CD

Minimum deposit

$500

Federally insured by NCUA

1-year APY

1.40%

3-year APY

N/A

5-year APY

2.80%

3-year APY

N/A

5-year APY

2.80%

Why we like it

Overview: Security Service Federal has competitive yields on certificate rates, which vary based on different tiers with minimum opening deposits mostly ranging from $500 to $100,000.

Membership requirement: You’re a member of certain military branches or work for the Department of Defense, or you’re a resident of Texas, Colorado or Utah. There are a few other ways to join, but if you or your household isn’t affiliated with the military or those three states, you likely don’t qualify.

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 not-for-profits. Your banking needs for CDs can generally be met at either, but if you prefer a banking institution known for being part of the community it resides in, credit unions tend to fill those shoes better.

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

Easy to join:

  • Pentagon Federal Credit Union: 2.30% APY, $1,000 minimum deposit.

  • Connexus Credit Union: 1.76% APY, $5,000 minimum deposit.

  • Alliant Credit Union: 2.40% APY, $1,000 minimum deposit.

  • Service Credit Union: 0.50% APY, $500 minimum deposit.

Competitive rates but restrictive membership:

  • Navy Federal Credit Union: 2.10% APY, $1,000 minimum deposit.

  • Golden 1 Credit Union: 0.50% APY, $500 minimum deposit.

  • SchoolsFirst Federal Credit Union: 0.95% APY, $500 minimum deposit.

  • Security Service Federal Credit Union: 1.40% APY, $500 minimum deposit.

Last updated on February 4, 2022

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Frequently asked questions