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Best CD Rates – Week of October 8, 2012

Oct. 8, 2012
Banking, CDs
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners. Here’s how we make money.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

NerdWallet’s weekly CD rate index confirms what many savers already know: finding a deposit account that beats inflation is extraordinarily tough. Barring a few exceptions, you’ll likely need to store your cash for 4 years or more in order to earn a yield of 1% or greater. However, finding the best CD rates can mean earning as much as 3 times that rate.

 

National Averages

This week we continue to see very little changes to the national average CD rates by length of term. 12-month, 4-year and 5-year rates fell by just 1 basis point each.

Length of Term (months) % of Available Accounts Average APY
3 10% 0.17%
6 13% 0.27%
12 13% 0.41%
18 10% 0.48%
24 13% 0.63%
30 6% 0.64%
36 12% 0.83%
48 11% 1.00%
60 11% 1.24%

Top 25 credit union rates

The top 25 rates we identified came from just 20 different credit unions (membership eligibility restrictions may apply), each of which offered a rate at least 75% higher than the average for a comparable term.

Credit Union Location Length of Term (months) APY
Navy Army Community Credit Union Corpus Christi, TX 30 3.00%
Security Service Federal Credit Union Marion, IN 84 2.70%
San Antonio Federal Credit Union San Antonio, TX 84 2.70%
Charles Street Community Federal Credit Union Tipton, IL 60 2.58%
Encompass Credit Union Massena, NY 60 2.53%
SeaComm Federal Credit Union Marion, IN 60 2.49%
Birmingham Police Credit Union Birmingham, AL 60 2.38%
Security 1st Credit Union Edinburgh, TX 60 2.33%
General Electric Credit Union Cincinnati, OH 60 2.33%
Menominee County Federal Credit Union Menominee, MI 60 2.29%
Wymar Federal Credit Union Geismar, LA 24 2.27%
Wymar Federal Credit Union Geismar, LA 36 2.27%
Wymar Federal Credit Union Geismar, LA 48 2.27%
Wymar Federal Credit Union Geismar, LA 60 2.27%
Encompass Credit Union Massena, NY 48 2.27%
Mid Missouri Credit Union Fort Leonard Wood, MO 60 2.27%
American Airlines Federal Credit Union Fort Worth, TX 60 2.27%
One Source Federal Credit Union El Paso, TX 60 2.27%
Northwoods Credit Union Cloquet, MN 60 2.26%
SeaComm Federal Credit Union Marion, IN 48 2.25%
Dover Federal Credit Union Dover, DE 60 2.25%
Jefferson Financial Credit Union Metairie, LA 60 2.25%
Veritas Federal Credit Union Toledo, OH 60 2.25%
HAPO Community Credit Union Richland, WA 60 2.20%
Napus Federal Credit Union Alexandria, VA 60 2.17%

Top online CD rates

Online banks are another great option for savers seeking higher yields. Anyone can open an account, but there’s not likely to be a branch nearby – all transactions and customer service takes place over the internet or phone.

Bank Length of Term (months) APY
Discover Bank 60 1.75%
Eloan.com 60 1.70%
Doral Bank 60 1.69%
Ally Bank 60 1.69%
Bank of Internet USA 60 1.60%

Top CD rates by state

The top rates for each state have largely remained at the same institutions this week:

State Bank Length of Term (months) APY
AK Alaska USA Federal Credit Union 60 1.75%
AL Birmingham Police Credit Union 60 2.38%
AR Telcoe Federal Credit Union 60 2.17%
AZ American Airlines Federal Credit Union 60 2.27%
CA American Airlines Federal Credit Union 60 2.27%
CO Denver Community Credit Union 60 2.10%
CT American Airlines Federal Credit Union 60 2.27%
DE Dover Federal Credit Union 60 2.25%
FL American Airlines Federal Credit Union 60 2.27%
GA Wings Financial Credit Union 60 2.12%
HI American Airlines Federal Credit Union 60 2.27%
IA First Federal Credit Union 60 2.16%
ID Mountain America Federal Credit Union 60 2.00%
IL American Airlines Federal Credit Union 60 2.27%
IN Charles Street Community Credit Union 60 2.84%
KS Mid American Credit Union 60 2.10%
KY General Electric Credit Union 60 2.33%
LA Wymar Federal Credit Union 24 2.27%
MA American Airlines Federal Credit Union 60 2.27%
MD HEW Federal Credit Union 60 2.02%
ME Gardiner Federal Credit Union 60 2.02%
MI Menominee County Federal Credit Union 60 2.29%
MN Northwoods Credit Union 60 2.26%
MO Mid Missouri Credit Union 60 2.27%
MS RiverLand Credit Union 60 2.00%
MT Glendive BN Federal Credit Union 60 2.00%
NC American Airlines Federal Credit Union 60 2.27%
ND North Star Community Credit Union 60 1.75%
NE Pinnacle Bank 60 2.02%
NH Service Credit Union 60 1.95%
NJ American Airlines Federal Credit Union 60 2.27%
NM One Source Federal Credit Union 60 2.27%
NV Credit Union 1 60 2.05%
NY SeaComm Federal Credit Union 60 2.49%
OH General Electric Credit Union 60 2.33%
OK American Airlines Federal Credit Union 60 2.27%
OR Food Industries Credit Union 60 1.85%
PA HEW Federal Credit Union 60 2.02%
RI Greenwood Credit Union 60 2.00%
SC Eastman Credit Union 60 1.90%
SD First Financial Bank USA 48 2.02%
TN American Airlines Federal Credit Union 60 2.27%
TX Navy Army Community Credit Union 30 3.00%
UT State Bank of Southern Utah 60 2.02%
VA American Airlines Federal Credit Union 60 2.27%
VT NorthCountry Federal Credit Union 60 2.00%
WA HAPO Community Credit Union 60 2.20%
WI Dupaco Community Credit Union 60 2.01%
WV One Community Federal Credit Union 60 2.00%
WY Wyo Central Federal Credit Union 60 2.15%

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