If you happen to live in the southwest and are in the market for a certificate of deposit or savings account, you may want to check out the following local banks and credit unions in Arizona as they are offering some annual percentage yields that crush the current national average(s).
Interest rates in general are far from spectacular, however, so don’t get too excited by what you’re about to see. But if you weigh them against today’s savings rates across the country, they end up looking quite lucrative in comparison.
All rates are accurate as of October, 2011. Visit our CD rates center to get updated rates from around the country or visit the individual institution’s website and/or rate pages which we’ve provided links to below.
Top 12 month CD Rates (Arizona Banks and Credit Unions Only)
- Alliant Credit Union in Tempe, AZ, has a 1 year CD yielding 1.20% APY with a minimum deposit requirement of $1,000. Visit Alliant Credit Union’s rate page to get updated offers.
- Metro Phoenix Bank in Phoenix, AZ, has a 1 year CD yielding 1.10% APY with a minimum deposit requirement of $5,000. While this rate is still above the national average it’s slightly below the best rates provided by online banks for 12 month terms. Visit Metro Phoenix Bank to download there current rate sheet.
Top 2 year CD Rates (Arizona Banks and Credit Unions Only)
- American Airlines Federal Credit Union out of Tuscon, AZ, is offering a 2 year CD with a 1.41% APY and a minimum deposit requirement of $10,000. To join AAFCU you’ll have to either be employed by the company or have a family member who is. Visit American Airlines Credit Union to see locations, membership eligibility and updated rates.
- Goldwater Bank our of Scottsdale, AZ has a 2 year CD with an APY of 1.32% requiring a minimum deposit of $5,000. Goldwater Bank has just one location and it’s in Scottsdale, however, consumers outside of the state may also apply for their CDs through their website.
Top 5 year CD Rates (Arizona Banks and Credit Unions Only):
- First American Credit Union out of Window Rock, AZ, has a 60 month CD yielding 2.37% APY with a minimum deposit of $1,000 required. This rate is beating the APY’s from online banks for 5 year terms by almost 15%. Visit First America Credit Union for membership eligibility and additional savings rates.
- Washington Federal out of Tuscon, AZ has a 60 month CD yielding 2.25% APY with a minimum deposit requirement of $1,000. Washington Federal opens it’s doors to consumers in a number of states.
Think we missed a noteworthy rate? Share it by leaving a comment!