Currently, Del-One Federal Credit Union, based out of Wilmington, Delaware, is providing this promotional checking account (which also comes with free checking) to it’s members that can meet 3 monthly qualifications. Compare that to the best CD rates in Delaware.

Here are the requirements…

1) Log-in to their online banking to receive free e-statements.

2) maintain 10 debit transactions per month. Any transaction conducted with your debit card other than cash withdrawals qualify as one debit transaction.

3) Establish at least 1 direct deposit per month. This can be a pay check deposit, social security deposit or regular wire transfer from another account.

Important terms and conditions regarding this account:

- ATM transactions are credited up to $25 per month. Therefor if you use another bank’s ATM which charges $2 per withdrawal, you’ll be able to conduct up to 12 of these per month before needing to pay out of pocket for using the ATM.

- You need to stop by one of Del-One Federal Credit Union’s 7 branches within the state of Delaware. This account cannot be opened online.

- Membership eligibility is excluded to a select group of employers within the state of Delaware. If you have a family member who is already a member, then you may also be eligible for membership.

View a complete Review of Aurora Bank

Aurora Bank is a member of the Federal Home Loan Bank System and deposits are insured to the extent permitted by law by the Federal Deposit Insurance Corporation (FDIC). They offer a variety of banking products such as money market accounts, CD’s (certificate of deposits), checking/savings, home loans and debit cards.

Aurora Bank FSB CD rates:

Their deposit products can be opened with durations from 6 months to 5 years. You will also be provided a greater interest rate if you opt for a jumbo CD. Early withdrawals may reduce earnings.

Interest rates are accurate as of December 4, 2009. Check with our CD rate tables for updated rates.

Term Account Value $5,000.00 – $9,999.99 $10,000.00 – $24,999.99 $25,000.00 – $99,999.99 $100,000.00 + Interest Rate APY* Interest Rate APY* Interest Rate APY* Interest Rate APY* 6 months 1.3900% 1.3997% 1.3900% 1.3997% 1.3900% 1.3997% 1.4100% 1.4200% 12 months 1.7100% 1.7247% 1.7100% 1.7247% 1.7100% 1.7247% 1.7500% 1.7654% 18 months 1.9300% 1.9487% 1.9300% 1.9487% 1.9300% 1.9487% 1.9700% 1.9895% 24 months 2.1400% 2.1630% 2.1400% 2.1630% 2.1400% 2.1630% 2.1900% 2.2141% 36 months 2.4300% 2.4597% 2.4300% 2.4597% 2.4300% 2.4597% 2.4800% 2.5109% 48 months 2.6500% 2.6853% 2.6500% 2.6853% 2.6500% 2.6853% 2.7000% 2.7367% 60 months 2.9600% 3.0041% 2.9600% 3.0041% 2.9600% 3.0041% 3.0000% 3.0453%

Although Aurora Bank is headquartered in Delaware, they accept deposits from consumers nationwide. You can make deposits by mail, using direct deposit, and/or electronic transfers. And you can make withdrawals at your convenience through their ATMs, check writing, check card purchases, and electronic transfers.

Contact Info:

Phone: (888) 522-9295

Website: AuroraBankFSB.com

Address: BrandyWine Building 100 West Street. Suite 200. Wilmington, DE 19801

Although the financial institutions we’ve listed below do the majority of their business in Delaware, they still may have eligibility requirements which may prevent you from joining (even if you live in DE). Contact a representative to see if you can take advantage of their products.

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.

Top 3 CD rates in Delaware:

(clicking on the institution will bring you to their home page)

• Community Bank of Delaware: Rehoboth Beach, DE. 9 month CD yielding 2.12% APY with a minimum deposit amount of $500. The average yield for 12 month CDs is currently 1.60% APY. As it states in their name, Community Bank of Delaware takes an active roll in shaping the local community. They have an entire section of their website devoted towards community involvement and acalades they have acquired from it. Also, all employees of their bank are volunteers of various institutions ranging from the American Cancer Society to Nanticoke Little League.
• Principal Bank: Nationwide. 33 month CD yielding 2.48% APY with a minimum deposit of $5,000. This deal, while not spectacular, is available nationwide through Principal Financial Group. The Principal Financial Group is a leading global financial company offering businesses, individuals and institutional clients a wide range of financial products and services. Their range of products and services includes retirement solutions, life and health insurance, wellness programs, and investment and banking products through our diverse family of financial services companies and national network of financial professionals.
• Del-One: Wilmington, DE. 60 month CD yielding 3.01% APY with a $500 minimum deposit. Again, this rate can be beat by national banks such as Discover Bank. Del-One is a not-for-profit financial institution organized to promote thrift and savvy saving. They are member owned and operated by a board of directors (chosen by members). Recently they have been voted as the number 1 credit union in the state of Delaware. They strive to consistently provide the highest certificate of deposit rates in the Delaware and insure your deposits up to $500,000. Please note, that they are not insured by the NCUA (national credit union association) which is government run, but hold a private insurance deal. The FDIC and NCUA only insure deposits up to $250k.

If you reside in Delaware and know of a better CD (certificate of deposit) rate offered by your local bank or credit union, please share by leaving a comment.