Credit Union of Atlanta offering lucrative short term CD Rates

Since the FED announced their plans to keep interest rates historically low for at least another two years, we’ve seen CD rates in general sink even further. However, over the weekend a couple readers sent us some still respectably high CD rates coming out of the state of Georgia (from the Credit Union of Atlanta).

As a quick disclaimer, the first thing we noticed when we came to their rate page was that their rates apparently haven’t been updated since February of this year – a time when CD rates as a whole were yielding slightly higher returns. If you live in Georgia, or more specifically Atlanta, and are in the market for a bank CD, you may want to mosey over to a local Credit Union of Atlanta branch or give them a ring to see if the rates are still available. We have a feeling they are probably outdated, but if you contact them about the APY’s they are advertising on their website they may still honor them. You’ll need a minimum deposit of $500 and you’ll have to be a member of the credit union to take advantage of their deposit products.

Credit Union of Atlanta CD Rates:

(Rates advertised here as seen on August 13, 2011.)

To put the offers above in perspective the current national average for 12 month CDs and 3 year CDs sit at roughly 0.88% APY and 1.30% APY, respectively. You can also compare these rates with other CD rates in Georgia from our archives.

Best CD Rates in Atlanta, Georgia: Top 3

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Atlanta, GA. The institutions we will cover all include the following cities in Georgia: Cumming, Norcross, Alpharetta, Smyrna, Newnan, Albany, Augusta, Dalton, and Macon. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Atlanta as well as the state of Georgia, we found that for the most part, you will be able to receive slightly better rates with local institutions than with national ones.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Best 6 month CD rates in Atlanta, GA:

• Wings Financial Federal Credit Union has a 6 month CD yielding 2.38% APY with a minimum deposit of $500 required. Wings has locations throughout Georgia and physical branch locations in Atlanta.
• Atlanta Postal Credit Union has a 6 month CD yielding 2.25% APY with a minimum deposit of $500 required. 
• Sunrise bank of Atlanta has a 6 month CD yielding 2.14% APY with a minimum deposit of $1,000 required. 

Best 12 month CD rates in Atlanta, GA:

• Wings Financial Credit Union also has a 12 month CD yielding a whopping 2.78% APY with a minimum deposit of only $500 required.
• Sunrise Bank of Atlanta also has a 14 month CD yielding 2.55% APY with a minimum deposit of $10,000 required.
• Buckhead Community Bank National Association has a 12 month CD yielding 2.35% APY with a minimum balance of $500 required.

Best 24 month CD rates in Atlanta, GA:

• Wings Financial Credit Union tops the list for 24 month CD’s as well. They have a 24 month CD yielding 2.99% APY and a 27 month CD yielding 3.09% APY.
• Midtown Bank and Trust Company has a 24 month CD yielding 2.75% APY with a minimum deposit of $1,000 required.
• One Georgia Bank has a 24 month CD yielding 2.75% APY with a minimum deposit of $1,000 required.

Resurgens Bank money market rate: twice the national avg!

Resurgens Bank out of Atlanta, Georgia is offering a money market rate which absolutely demolishes the current national average. If you are able to maintain a balance of $50k then Resurgens Bank will reward you with an APY of 2.60% (national average sits at roughly 1.20% APY).

Like many MMA rates this one is set up in 3 tiers based on your balance amount:

Tier 1 – balances of between $1 and $9,999 yield 2.0% APY

Tier 2 – balances of between $10,000 and $49,999 yield 2.20% APY

Tier 3 – balances of $50,000 and over yield an unheard of 2.60% APY

Resurgens Bank is a state chartered bank and this account is available to all Georgia residents. You must, however, stop by a local branch to open an account.

Contact: (404) 297-2200

Here are some additional details and features of the account:

• $1,000 minimum daily collected balance or $2,500 average daily collected balance to avoid the monthly $10 maintenance fee
• Tiered interest rates based on daily collected balance
• 6 transfers per month, $10 activity fee is charged for each excess withdrawal
• Free first order of checks

Resurgens Bank is member FDIC.

Best certificate of deposit rates in Georgia (Top 3)

Below are the Top 3 CD rates available to residents in the state of Georgia. The deposit products below are listed by highest yielding interest rate. Generally, you will find higher rates accompanied with longer maturities, therefor we took the CD’s that beat the national average by the highest margins (so that we wouldn’t be strictly listing long-term deposits). After digging through dozens of rate pages by various banks and credit unions serving the general Georgia area, we found many promotional CD offers which are absolutely crushing the current national average. We have conducted similar research for states in the northeast and have found that the rates offered in the southeast (particularly Georgia) are currently yielding a much higher interest rate. You may want to compare Florida’s CD rates as well as many regional banks serve both states.

If for whatever reason you are not eligibile to join or take advantage of the products listed below, you may want to search through our nationally available CD rate list to find another offer. Compare CD rates nationwide.

Top 3 CD Rates (Georgia residents)

(clicking on the institution will provide you with more account details)

Bartow County Bank: Catersville, GA. 9 month CD yielding 3.0% APY with a minimum deposit of $500. The current national average for 9 month CD’s sits at roughly 1.60% APY. Bartow County Bank was established in 1974 and serves residents of this county. They may accept out of county funds but it will require speaking with a representative. This is a promotional offer and is subject to change.

American Trust Bank: Roswell, GA. 12 month CD yielding 2.72% APY with a minimum deposit of $2,500. The current national average for 12 month CD’s sits at around 1.75% APY. American Trust Bank has 3 Georgia locations (Roswell, Alpharetta, and Cumming). They are currently offering consistantly higher rates than the national average for each maturity. Some of their other notable deposit products are a 6 month CD yielding 2.65% APY and a 24 month CD yielding 3.0% APY.

Atlanta Postal Credit Union: Atlanta, GA. 12 month CD yielding 2.80% APY with a minimum deposit of $500. Atlanta Postal Credit Union has fairly strict eligibilty requirements. Because they are a credit union they are a not-for-profit organization that passes it’s profits on to it’s members in the form of higher savings rates and lower mortgage rates. They serve the employees of 33 different businesses and governmental organizations. If you do not work for one of these organizations or have family members that do you will not be eligible to join. View membership requirements.

All of the institutions listed above are federally insured by either the FDIC or the NCUA and your deposits will be insured up to $250,000. If you reside in the state of Georgia and know of a better CD rate please share by leaving a comment!

15 month CD yielding 3.25% APY through Buckhead Community Bank

There is a phenomenal 15 month certificate of deposit offer going on through Buckhead Community Bank of Atlanta, Georgia. Currently their 15 month CD promotion is yielding a whopping 3.25% APY (minimum deposit amount is $500).

Thanks to BankVibe reader Alicia for submitting this abnormally lucrative rate!

About Buckhead Community Bank (Atlanta, Georgia):

(as seen on their website)

With roots deep in Atlanta and its vision fixed firmly on its home community, The Buckhead Community Bank promises the kind of personal service and local decision-making that both business and individual customers have been looking for.

“Our goal is relationship banking,” says President and CEO Marvin Cosgray. “We want our customers to know they’ll receive more personal attention, that they can deal with the top officers of the bank, rather than branch managers. And, they can be sure we won’t nickel-and-dime them with nuisance charges.”

Among the innovative services the bank offers is on-site check printing; customers don’t have to wait for personalized checks when they open a new account. For people on the go, an especially attractive feature is fee-free ATM usage – anywhere in the world. The bank also offers MasterCard, Visa and a business credit card program for commercial customers.