Tis the season to give thanks and in the realm of investing, there isn’t too much to give thanks for. Over the past year we have seen CD rates continue their downward fall, with a few bright spots like iGObanking, when they where offering the highest 2 year CD, which even beat the highest 3 year CDs. Even now as banks continue to cut rates, Melrose Credit Union continues to provide outstanding products. This small, single office in Queens New York is offering the best nationally available return on the 12-month, 24-month, 36-month and 60-month certificates of deposit.
The other two banks, Sanibel Captiva Community Bank from Florida and Bank of Internet based out of San Diego California offer the best 3 month and 6-month terms.
All of the major banks, such as Chase, Band of America, Wells Fargo, stopped offering competitive rates ever since the financial crisis started in 2008.
|*Term||Bank||November 22||Last Week|
|3 Month CD||Sanibel Captiva||0.95% APY||0.95% APY|
|6 Month CD||Bank of Internet||1.15% APY||1.15% APY|
|12 Month CD||Melrose Credit Union||1.51% APY||1.51% APY|
|24 Month CD||Melrose Credit Union||1.76% APY||2.00% APY|
|36 Month CD||Melrose Credit Union||2.27% APY||2.27% APY|
|60 Month CD||Melrose Credit Union||3.03% APY||3.03% APY|
CD rates can change at a moment’s notice so be sure to check our CD rates page for the most up to date information.
We list these banks and credit unions because they offer their rates to anyone nationwide.
Unlike most credit unions, Melrose is open to savers regardless of where they live and work. Anyone can open an account with Melrose for only a $1 joining fee and a minimum of $25 kept in a savings account.