We just got word of a few small community banks and credit unions out of Louisiana that are featuring 12 month CD rates that are currently demolishing today’s national average for these particular products. The banks and credit unions featured below are geographically exclusive (and may have other membership requirements as well) so unless you reside in the Bayou, you may be tough out of luck in obtaining one of these certificates of deposit.
Before mentioning the institutions and their APY’s on their 1 year CD’s we should note that as of today the national average for these products sits at a meager 0.66% APY. You may also want to compare that with the top 12 month CD rates from our database of nationally available CD’s if you reside outside of Louisiana.
Top Three 12 month CD Rates in Louisiana:
(Interest rates accurate as of January 2012.)
1) First NBC Bank (Terrytown, Louisiana) has a 12 month CD featuring an APY of 1.26% requiring a minimum deposit of $1,000. First NBC Bank received it’s charter to begin operations in 2006 and now controls roughly $60 million in assets.
2) Beauregard Federal Savings Bank (Deridder, Louisiana) has a 12 month CD featuring an APY of 1.25% requiring a minimum deposit of $1,000. Beauregard Federal Savings Bank, originally established in 1948, is still relatively small with just 3 locations. They acquired their latest bank in 1988 which is also located in Deridder, LA.
3) Jefferson Financial Credit Union (Metairie, Louisiana) also has a 12 month CD featuring an APY of 1.25% however, their minimum deposit requirement is slightly more steep at $10,000. To join Jefferson Financial Credit Union you must submit a written request detailing why you wish to join. Visit their website for a sample letter or give them a call at 348-2424 ext. 123 for further instructions.
Think you know of a better 12 month CD rate in Louisiana? We doubt it! But let us know by leaving a comment!