North Carolina Residents Can Get Top Savings Rates From Local Banks

November 21, 2011 No Comments »

North Carolina is flush with local banks, credit unions and financial thrifts that are offering savings rates on deposits with far higher yields than current national averages.

In our most recent survey covering these institutions in North Carolina we found the top yields on 12 month CDs feature APY’s that are more than twice the national average and almost 50% better than rates you can lock in from online banks.

The leading institution for short term deposit rates is currently Premier Federal Credit Union. They have a 3 month CD yielding 0.75% APY which roughly ties the national average for 12 month CDs (0.73% APY) and a 12 month CD featuring an APY of 1.55% (more than twice the national average) with minimum deposit requirements of just $500 for both products. Their rates come down to more normal levels however with longer maturities but still top the best rates from online banks (only with slimmer margins).

Premier Federal Credit Union, based out of Greensboro, North Carolina, has 8 branch locations in both North and South Carolina. Visit PremierFCU.org to apply.

Other Noteworthy CD Rates from North Carolina Banks and Credit Unions:

(Rates accurate as of November 2011.)

- Mount Gilead Savings and Loan has a 13 month CD featuring an APY of 1.41% with a minimum deposit requirement of $1,000.

- Carter Bank and Trust has a 12 month CD featuring an APY of 1.25% with a minimum deposit requirement of $100.

- Lumbee Guaranty Bank has a 36 month CD featuring an APY of 1.87% with a minimum deposit requirement of $1,000.

- American Airlines Federal Credit Union has a 36 month CD featuring an APY of 1.81% with a minimum deposit requirement of $10,000.

- Premier Commercial Bank has a 60 month CD featuring an APY of 2.50% with a minimum deposit requirement of $500.

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