Highest Yielding 5 Year CD Rates in Massachusetts (May 2012):

1) Institution for Savings In Newburyport (Newburyport, MA) – 5 year CDs yielding 2.50% APY requiring a minimum deposit of $500. This bank was founded in 1820 by 34 well-to-do businessmen in Massachusetts and today controls roughly Read more...]]> A few local banks and credit unions in Massachusetts are offering extremely high yields on their 5 year deposits when compared to today’s national average.

Highest Yielding 5 Year CD Rates in Massachusetts (May 2012):

1) Institution for Savings In Newburyport (Newburyport, MA) – 5 year CDs yielding 2.50% APY requiring a minimum deposit of $500. This bank was founded in 1820 by 34 well-to-do businessmen in Massachusetts and today controls roughly $1.3 billion in assets. Contact them at InstitutionForSavings.com or (978) 462-3106.

2) Merrimack Valley Federal Credit Union (North Andover, MA) – 5 year CDs yielding 2.30% APY requiring a minimum deposit of $500. Like many credit unions this one is a tad exclusive when it comes to membership. Unless you live, work, or attend school in the Merrimack Valley region of Massachusetts, you wont be eligible to join. Merrimack Valley Federal Credit Union has grown from just $1 million in assets in 1955 to just over $100 million as of 2012.

3) American Airlines Federal Credit Union (Boston, MA) – 5 year CD yielding 2.27% APY requiring a minimum deposit of $10,000. AAFCU has been covered a number of times on BankVibe.com over the years with their generally high standard on savings rates. Our only complaint with AAFCU is that they require a significantly larger minimum deposit than most local and regionally based banks and credit unions. To join this credit union you’ll need to have someone in your immediate family who works in the airline industry.

Putting the rates (above) in perspective: Today’s national average for 5 year CDs sits at roughly 1.50% APY and the highest yielding 5 year deposit from our database of banks accepting deposits nationwide is just 1.77% APY (from Intervest National Bank).

Founded in just 2006, Carter Bank and Trust already has a huge presence in these two states. Their corporation formed through the merger of 10 banks with 124 offices in Virginia and North Carolina. Despite it’s vast presence Read more...]]> Carter Bank and Trust of Virginia and North Carolina is offering some decent CD rates when compared to today’s national average as well as the top rates from our database of online banks.

Founded in just 2006, Carter Bank and Trust already has a huge presence in these two states. Their corporation formed through the merger of 10 banks with 124 offices in Virginia and North Carolina. Despite it’s vast presence within the two states, its not considered a large bank though. It is the 246th largest bank in the country by asset size and just the 8th largest bank in Virginia, with a little over 1,000 full time employees.

Carter Bank and Trust CD Rates:

(All savings and deposit products provided by Carter Bank and Trust are FDIC insured up to $250,000. Visit carterbankandtrust.com for further information. Rates not shown on their website.)

- 6 month CD yielding 1.15% APY requiring a minimum deposit of $2500.00.

- 12 month CD yielding 1.20% APY requiring a minimum deposit of $100.00.

- 36 month CD yielding 1.76% APY requiring a minimum deposit of $100.00.

- 60 month CD yielding 2.12% APY requiring a minimum deposit of $100.00.

To put the offers above in perspective, today’s national average for 12 month CDs and 5 year CDs sits at roughly 0.75% APY and 1.50% APY, respectively.

So far in 2012, the top 5 year CD rates from online banks have peaked out at 1.80%, however, the top rates in Michigan for this particular term have sat comfortably Read more...]]> There’s quite a large number of local banks and credit unions in the state of Michigan with 5 year CD rates that are beating even the top 5 year online CD rates by quite a significant margin.

So far in 2012, the top 5 year CD rates from online banks have peaked out at 1.80%, however, the top rates in Michigan for this particular term have sat comfortably above 2.00%.

Today’s Top Ten 5 Year CD Rates in Michigan (May, 2012):

1) First General Credit Union  (Muskegon, MI) – 5 year CD yielding 2.50% APY requiring a minimum deposit of $1,000.

2) Menominee County Federal Credit Union  (Stephenson, MI) – 5 year CD yielding 2.39% APY requiring a minimum deposit of $10,000.

3) Delta County Credit Union  (Wells, MI) – 5 year CD yielding 2.38% APY requiring a minimum deposit of $1,000.

4) Service 1 Federal Credit Union (Wells, MI) – 5 year CD yielding 2.33% APY requiring a minimum deposit of $500.

5) Great Lakes First Federal Credit Union (Rapid Rivers, MI) – 5 year CD yielding 2.27% APY requiring a minimum deposit of $1,000.

6) mBank (Traverse City, MI) – 5 year CD yielding 2.25% APY requiring a minimum deposit of $250.

7) Wings Financial Credit Union (Romulus, MI) – 5 year CD yielding 2.22% APY requiring a minimum deposit of $1.00.

8 ) CASE Credit Union (Okemos, MI) – 5 year CD yielding 2.15% APY requiring a minimum deposit of $500.

9) First Bank, Upper Michigan (Gladstone, MI) – 5 year CD yielding 2.12% APY requiring a minimum deposit of $500.

10) Upper Peninsula State Bank (Iron Mountain, MI) – 5 year CD yielding 2.10% APY requiring a minimum deposit of $500.

To put the offers above in perspective, the current national average for 5 year CD’s sits at roughly 1.49% APY.

As of March, 2012, the rate of inflation sat at 2.65%.

NFCU is the Read more...]]> Navy Federal Credit Union’s CD rates and savings accounts are regularly featured here on BankVibe.com because of their high APY’s and promotional features. In a savings environment that has left consumers with little in the form of interest, NFCU has been able to keep their rates substantially above the national average as well as supplementing their product line with promotional deposit accounts (mostly geared towards first-time savers).

NFCU is the largest credit union in the United States by both asset size and membership even though their membership is still relatively exclusive – allowing only those who have served in the United States military and their family members to join.

During the last couple of years we’ve seen a number of credit unions grow more lenient with membership restrictions. Even Pentagon Federal Credit Union has made membership more widely available – requiring just a $20 fee to the “National Military Family Association” or the “Voices for America’s Troops” foundations before joining. We’re still waiting, however, for NFCU to follow suit with lifting restrictions so that more consumers can take advantage of their products.

Navy Federal Credit Union CD Rates in 2012:

(Rates accurate as of April. Visit NavyFederal.org to see updated rates.)

- 3 month CD yielding between 0.50% APY and 0.70% APY depending on deposit size.

- 6 month CD yielding between 0.60% APY and 0.80% APY depending on deposit size.

- 12 month CD yielding between 0.85% APY and 1.05% APY depending on deposit size.

- 18 month CD yielding between 0.95% APY and 1.15% APY depending on deposit size.

- 24 month CD yielding between 1.05% APY and 1.25% APY depending on deposit size.

- 5 year CD yielding between 2.00% APY and 2.25% APY depending on deposit size.

- 7 year CD yielding between 2.50% APY and 2.75% APY depending on deposit size.

Compare these rates with the highest CD rates from credit unions in 2012.

Snapshot of GIC Federal Credit Union's CD Rates as of April 26, 2012

GIC Federal Credit Union out of Euclid, Ohio is currently featuring 6 month CD’s through 3 year CD’s with APY’s of 1.50%.

For a three year deposit Read more...]]> Ohio residents in the market for a certificate of deposit might want to stop by GIC Federal Credit Union to see if these advertised rates are still available (snapshot below).

Snapshot of GIC Federal Credit Union's CD Rates as of April 26, 2012

GIC Federal Credit Union out of Euclid, Ohio is currently featuring 6 month CD’s through 3 year CD’s with APY’s of 1.50%.

For a three year deposit this isn’t a fantastic yield but for 6 month deposits its almost 3x the national average, and twice the national average for 12 month deposits. To put the offer(s) in perspective the national average for 6 month CD’s currently sits at 0.45% APY while the national average for 12 month CDs currently sits at 0.75% APY.

Despite having a website that looks straight out of 1995, complete with sound effects, flashing buttons and an ugly color scheme, GIC Federal Credit Union is touting some seriously impressive savings rates that are far outside the norm. They even have a money market account with an advertised APY of 1.50% as well with a minimum deposit requirement of just $1,000. The rates are almost to good to be true in today’s savings environment which leaves us slightly skeptical.

About GIC Federal Credit Union:

We don’t know a whole lot about GIC Federal Credit Union besides the fact that they are a one branch credit union in a small town in Ohio. Their website seems pretty unprofessional and has typing errors throughout their text. Even their NCUA insurance limits are off. They’re NCUA disclaimer reads that all funds are protected up to $100,000 when that number actually got raised to $250,000 some time ago. They require a mail-in application to join which comes with a fee of $22.50, however we would recommend contacting the institution before applying.

Have you opened a deposit or money market account with GIC Federal Credit Union before? If so, let us know by leaving a comment!

Top 6 month – 5 year deposit rates in Kentucky:

* Rates accurate as of March 2012.

Top 6 Read more...]]> We’ve just completed our survey of this week’s top deposit rates from locally based institutions servicing Kentucky residents. The rates are taken from banking institutions (either credit unions or community banks) with a physical presence in the state. Although online CD rates aren’t covered in this survey, you can find today’s top interest rates here.

Top 6 month – 5 year deposit rates in Kentucky:

* Rates accurate as of March 2012.

Top 6 Month CD Offer – Peoples Bank and Trust Company of Clinton County, Kentucky, offers the top 6 month CD rate at 0.95% APY. It comes with a minimum deposit requirement of $500. They have just one location and only service residents of Clinton County.

Top 12 Month CD Offer - Labor Management Federal Credit Union offers the highest yielding 12 month CD with an APY of 1.206%. To put this in perspective, the best 12 deposit rate from our database of national banks sits at just 1.08% APY. Labor Management Federal Credit Union has just one location in Lewisport, KY and only provides banking services to residents of Hancock County, KY.

Top 2 Year CD Offer – General Electric Credit Union offers the best 2 year CD featuring an APY of 1.50% requiring a minimum deposit of just $500. GE Credit Union has just one location in Kentucky but several throughout the mid-west and provides services to employees of GE and their family members. If you have someone in your extended family that is employed at GE you may also be eligible to join.

Top 3 Year CD Offer – Leitchfield Deposit Bank & Trust boasts the highest 3 year CD with an APY of 2.12% and a minimum deposit requirement of $500. Leitchfield Deposit Bank & Trust has four locations in Kentucky and is more inclusive with their membership than the previous institutions mentioned.

Top 4 Year CD Offer – South Central Bank of Harden County has the best 4 year CD. They offer an APY of 2.37% and require a minimum deposit of $500. They have just one location (Elizabethtown, KY) and can provide banking services to residents of Harden County, Kentucky.

Top 5 Year CD Offer  – Cecilian Bank offers the top long term deposit rate with an APY of 2.40% provided on their 5 year CD. They set the minimum deposit requirement at $1,000 and provide their services throughout the state. They have 12 locations in Kentucky alone.

Have we missed a local offer in Kentucky? Let us know about it by leaving a comment!

While we don’t recommend locking money up in a 5 year CD when interest rates are at all time lows, the FED has recently came out and mentioned that we can expect rates to sit at these levels Read more...]]> Looking for the best long term CD rates in Tennessee this year? We’ve tracked down a few institutions (mainly community banks and credit unions) offering some competitive annual percentage yields on 60 month CD’s.

While we don’t recommend locking money up in a 5 year CD when interest rates are at all time lows, the FED has recently came out and mentioned that we can expect rates to sit at these levels through at least 2014, so locking in a 2 or even 3 year CD might be worth the consideration (and the institutions we’ve mentioned below have above average rates on those products as well).

To put the rates below in perspective the average yield on 1 year CD’s sits at roughly 0.75% APY throughout the country, while the average yield for 5 year CD’s sits at just 1.50% APY.

Another important metric to factor in is inflation data. This allows you to understand your “real returns” on your deposits. Inflation data comes in the form of a percentage and when applied to your savings or net worth, decreases it’s buying power by that percentage amount. So for example, during the first month of 2012 the US had an inflation rate of 2.93%. If this number stays the same throughout the year, the buying power of your savings will have decreased by that much over the course of 2012. You’ll also want to factor this in when computing the estimated returns on your bank deposits. If you lock in a CD yielding 1.0%, you will only lose 1.93% of your buying power as apposed to someone sticking their savings under their mattress and losing the full 2.93% of their buying power.

(Rate of Deposit – Rate of Inflation = Real Returns)

Top 5 year CD Rates in Tennessee – 2012 Edition:

*These rates are accurate as of the beginning of 2012. Visit our 5 year CD rate tables to see today’s top rates from around the country.

1) American Airlines Federal Credit Union (Nashville, TN) has a 60 month CD yielding 2.47% APY requiring a minimum deposit of $10,000. AAFCU limits their eligibility to those working with the airlines, an airport, or related family members of those employees.

2) Wings Financial Credit Union (Memphis, TN) has a 60 month CD yielding 2.32% APY requiring a minimum deposit of just $1.00. Wings Financial accepts a broader base of members. Visit them at WingsFinancial.com to see if you are eligible.

3) Homeland Community Bank (Morrison, TN) has a 60 month CD yielding 2.30% APY with a minimum deposit of requirement of $500. Visit homelandcb.com for further information.

Think we’ve missed a high yielding CD in Tennessee? Let us know about it by leaving a comment!

This week we rounded up the top 12 month CD rates from Arkansas based financial institutions and found that all the noteworthy rates for Read more...]]> Choosing CD rates is, in a way, similar to searching for health insurance plans. Different states offer different rates. Some states are able to crush the national average on savings products, while some are on par with the national average, and of course, some sink way below it.

This week we rounded up the top 12 month CD rates from Arkansas based financial institutions and found that all the noteworthy rates for this specific term (1 year) are coming from smaller community based banks – other than one credit union which made our top-5 list.

Highest Yielding 12 Month CD Rates Arkansas (2012 Edition):

(Interest rates are accurate as of February 2012. Visit our CD rate center for updated rates available throughout the country.)

1) Unico Bank, based out of Trumann, Arkansas, is currently featuring a 12 month CD yielding 1.16% APY requiring a minimum deposit of $1,000. To put this offer – the top offer in Arkansas – in perspective, the top 12 month CD rate available online and nationwide sits at 1.15% APY and requires a $1,000 minimum deposit as well. This rate is offered by Doral Bank, a bank frequently leading the pack for 1 year deposit rates.

2) Corning Savings and Loan Association is featuring a 12 month CD yielding 1.11% APY requiring a minimum deposit of $1,000 as well. Corning Savings and Loan Association is based out of Pocahontas, Arkansas and has just one location.

3) First Security Bank is featuring their 17 month CD with an APY of 1.10% requiring a minimum deposit of $2,500. Keep in mind this is a 17 month CD, not a 12 month CD. Sometimes banks offer these oddball terms usually when they are associated with a promotional offer. Even though this promotional offer is a little less than what you can yield with the top online CD’s available nationwide we still figured it was worth mentioning since it’s offered from a local Arkansas based institution. First Security Bank has just on location in Jonesboro, Arkansas.

4) Southern Bankcorp Bank is featuring their 12 month CD with an APY of 1.06% requiring a minimum deposit of just $500. Southern Bankcorp Bank also has just one location in Trumann, Arkansas.

5) Timberline Federal Credit Union is featuring their 12 month CD also with an APY of 1.06% requiring a rather hefty minimum deposit of $10,000. Timberline Federal Credit Union has two locations in Arkansas – one in Fordyce and the other in Crossett.

Think we missed a high yielding certificate of deposit in Arkansas? Let us know about it by leaving a comment!

The first state we chose to Read more...]]> It seems that the hunch we had in this post came true. Ben Bernanke has publicly proclaimed that key rates will remain at near zero levels through 2013 and well into 2014. While savers must be banging their heads against the wall after hearing this announcement, we immediately went on a hunt to track down the best 3 year CD rates in a number of states.

The first state we chose to survey was Florida. As most people know (especially those into politics or those that reside in the state) Florida’s demographics primarily consists of an aging population. A population that has made their contributions to society and have earned their wages for doing so – be it large, small or somewhere in between – and are looking for fixed income investment vehicles to stick at least a portion of their nest egg. And here at BankVibe.com we currently are recommending the 3 year CD. We find this to be the optimal time in which to invest. After the FED’s most recent meeting and public announcement, we think the 36 month deposit, if invested in today, will expire at precisely the time in which interest rates will begin to rise, thus freeing up those funds to put back into another certificate of deposit with a higher annual percentage yield.

The top 3 year CD rates in FL are listed below. Keep in mind that the current national average for 36 month certificates of deposit hovers around an incredibly low 1.0% APY.

Top Five 3 year CD Rates in Florida (February 2012)

(If you don’t live in Florida and would like to review the best CD rates available nationwide, stop by our CD rate center.)

1) Peoples Alliance Federal Credit Union (Miami, FL) has a 36 month deposit yielding 1.67% APY requiring a minimum deposit of $500.

2) American Airlines Federal Credit Union (Miami, FL) has a 36 month deposit yielding 1.61% APY requiring a steep minimum deposit of $10,000.

3) Florida Credit Union (Starke, FL) has a 36 month deposit yielding 1.61% APY requiring a minimum deposit of $1,000.

4) Flagier Bank (West Palm Beach, FL) has a 36 month deposit yielding 1.60% APY requiring a minimum deposit of $500.

5) GulfSouth Private Bank (Santa Rosa Beach, FL) has a 36 month deposit yielding 1.60% APY requiring another rather steep minimum deposit of $10,000.

Have you locked in a 3 year CD lately in the sunshine state with a higher interest rate than what we’ve listed above? If so, please share by leaving a comment!