Below are the top 3 certificate of deposit rates available to the residents of Louisiana. After researching several banks and credit unions in the region (and their accompanying CD rates) I noticed that in most cases local community-oriented banks will generally provide better interest rates than the large national banks. However, this is not a common trend throughout the country. Many states in the northeast encounter much lower savings rates offered locally than those offered by large national banks.
Here are the highest yielding CD rates for Louisiana residents. These come in the form of 12 month, 24 month and 36 month CD’s. You will almost always find higher rates packaged together with longer maturities, therefor I listed the rates that beat the national average by the highest margins for their given maturities.
Best CD Rates (Louisiana)
clicking on the institution will bring you to their rates page (except for WYMAR Federal CU)
WYMAR Federal Credit Union: Geismar, Louisiana. 12 month CD yielding 3.30% APY with a minimum deposit of $5,000. WYMAR Federal Credit Union is very exclusive as far as memberships are concerned. They occupy most of the state of Louisiana, however only allow members that fall within their selected group of employers. Their savings rates were last updated in April of ’09, therefor may be slightly outdated. You my need to contact this institution directly for current rates (rather than referring to their website’s rate page).
Riverland Credit Union: New Orleans, Louisiana. 24 month CD yielding 3.50% APY with a minimum deposit of $1,000. Riverland Financial CU is a not-for-profit credit union whose earnings are returned to it’s members in the form of higher savings rates and lower loan rates. Like WYMAR, Riverland CU has fairly exclusive membership requirements in which you must work for, or be a family member of, a select group of employers in the greater Louisiana area. Visit their website for further eligibility requirements.
Advancial Federal Credit Union: Lafayette, Louisiana. 36 month CD yielding 3.80% APY with a minimum deposit of $1,000. Advancial Fed CU is another not-for-profit credit union serving a select group of people whom qualify for membership based on their employers. You may also qualify for membership if you are a in any way related to a current member or to someone who works for one of the selected companies. Visit their website to view a full list of eligible employers.
Compare with today’s top CD rates nationwide below: