If you live in Maryland and are in the market for a short term bank CD, you may want to check out Allegany County Teachers Credit Union. They’re offering 6 month CD’s yielding 1.0% APY with minimum deposit requirements of $500 for those able to join. They have two branches in Lavale and Cumberland, MD, and accept local funds by members only – check out teachersfcu.org for further information regarding membership.
For those that live in Maryland and aren’t able to join ACTCU, you still have some solid options for six month deposits relative to current interest rate conditions.
HarVest Bank of Maryland, for example, offers almost the same APY on their 6 month CD’s (0.98%) and has four locations throughout the state with their main offices in Rockville, MD.
Following the above two institions is Chessie Federal Credit Union of Lavale, MD who features 6 month CD’s yielding 0.95% APY with minimum deposit requirements of just $500. Chessie Federal Credit Union has five locations in MD and requires membership before opening one of their deposit products.
If you’re stricitly after high rates, you may even want to check out neighboring institutions in Virginia. The top 6 month CD rates in that state are sitting comfortably above the 1.0% APY mark.
Charter Bank and Trust Company (Independence, VA) has a 6 month CD featuring yields of 1.20% APY on deposits of $2,500 or greater if opening the CD at one of their eight branches throughout Virginia and North Carolina.
And if Charter Bank is a little out your way, you can also check out the 6 month rates offered from URW Community Federal Credit Union of Danville, VA, which features a 1.00% APY on deposits of just $500 or more.
Know of a better local rate in the area? Let us know by leaving a comment!