After publishing the top 10 highest deposit rates we’ve tracked down so far this year, we were forwarded a couple of noteworthy rates with yields above the 3.0% mark. Therefor this post is dedicated to those small banks and credit unions around the country that still don’t mind giving their customers 3 percent returns on their deposits.

10 CDs (certificates of deposit) with yields above 3.0%:

(To put the offers below in perspective, the current national average for 5 year CDs sits at roughly 2.25% APY. Like all bank rates, the interest rates listed below are time sensitive in nature. Please refer to the date of this article for accuracy. Visit out CD Rate tables to get updated rate info.)

1) Domino Federal Credit Union (Texas) has a 5 year CD yielding 3.257% APY with a min deposit of $500.

2) El Paso Area Teachers Federal Credit Union (Texas) has a 5 year CD yielding 3.257% APY with a min deposit of $500.

3) GECU (Texas) has a 5 year CD yielding 3.14% APY with a min deposit of $1,000.

4) Shreveport Federal Credit Union (Louisiana) has a 5 year CD yielding 3.04% APY with a min deposit of $1,500.

5) Citizens Progressive Bank (Louisiana) has a 5 year CD yielding 3.03% APY with a min deposit of $5,000.

6) Springfield State Bank (Kentucky) has a 5 year CD yielding 3.03% APY with a min deposit of $500.

7) First Federal Credit Union (Iowa) has a 5 year CD yielding 3.01% APY with a min deposit of $10,000.

8 ) Hiawatha Bank and Trust Company (Iowa) has a 5 year CD yielding 3.00% APY with a min deposit of $500.

9) Citizens Community Bank (Kansas) has a 5 year CD yielding 3.00% APY with a min deposit of $1,000.

10) People’s Bank and Trust Company (Kansas) has a 5 year CD yielding 3.00% APY with a min deposit of $1,000.

Do you know of a 3.0% CD offered through your neighborhood bank or credit union? If so, let us know by leaving a comment!

To invest in any of these NCUA-insured (FDIC equivilent for credit unions) products you must first become a member.

Becoming A Member at Fort Campbell Federal Credit Union:

Membership is available to anyone who lives, works, worships or attends school in Montgomery or Stewart counties in Tennessee or Christian, Trigg or Todd counties in Kentucky.

Since 1954 Fort Campbell Federal Credit Union served the military and their families posted at Fort Campbell. They have since expanded to include offering their financial services to everyone in their local community. Today, the Credit Union has more than 36,000 members worldwide, with over $345 million in assets, offering a complete range of products and services.

CD (Certificate of Deposit) Rates offered by Fort Campbell Federal Credit Union

If you are strictly after the best interest rate then you have a variety of options that will provide you with similar yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in these accounts, the higher the interest rate you will generally receive.

After sorting through dozens of interest rate tables belonging to banks and credit unions serving the state of Kentucky, we have found that in some instances you may be able to lock in more competitive rates with national institutions rather than local ones. Before committing to one of the banks/credit unions listed below, you may want to browse through our archive of money market accounts.

Keep in mind, money market rates are time-sensitive in nature, therefor you may want to refer to the date of this article for accuracy. As with all money market accounts, the interest rates are variable and are subject to change without notice.

Top 2 MMA (money market account) rates in Kentucky:

(click on the institution for more information)

• South Central Bank of Hardin County: Elizabethtown, KY. “Monster Money market account” yielding 2.17% APY with a minimum balance of $10,000. South Central Bank has 5 locations throughout the county with branches in Bowling Green, Elizabethtown, Glasgow, Owensboro, and Tomkinsville. They were first chartered in 1889 and know manage roughly $800 million in assets. Their product offerings include a wide range of savings products (CD’s, money market accounts, health savings account, and more). They also offer a number of loan products as well as many online banking options. Contact: (270) 763-6898
• Citizens Bank and Trust Company: Campbellsville, KY. Money market account yielding 1.76% APY with a minimum deposit of $10,000. This interest rates associated with this account are set up in tiers based on your minimum balance. If your account dips below the $10k mark, you will yield a lower interest rate and if your account dips below $2,500 you will incur a $10 fine. You are limited by Federal Law to 6 pre-authorized transactions per month (check, wire, or ACH transfers) and only 3 may be payable to a third party. Additional withdrawals are $10.00 and excessive withdrawals may require that the account be closed. Contact: (270) 465-8193

Both of the above institutions are federally insured by the FDIC. If you live in Kentucky and know of a better money market rate offered through your local institution, please share by leaving a comment.

All of their promotional products hold relatively short maturities with “odd-ball” durations. The first is a 7 month CD which is yielding an APY of 2.50%. To put this in perspective the average rate for 6 month CD’s currently sits at around 1.30% APY.

The second is a 11 month CD yielding an APY of 2.60%. The current national average for 12 month CDs is around 1.65% APY.

And their third promotional deposit product is a 17 month CD with an APY of 2.75%. The current national average for 24 month CD’s sits at around 2.0% APY.

Like most credit unions, this one is particularly hard to join if you don’t fit precisely within their eligibility guidelines. First, if aren’t serving in the military you may have a difficult time obtaining a membership (unless you reside near one of their 12 branches), second if you ARE serving and live outside of Kentucky, then you may be eligible but it will most likely require a physical visit to one of their branches.

Fort Knox Federal Credit Union has seen tremendous growth over the past few years which has allowed them to expand into many neighboring communities. Their latest addition is the Campbellsville Branch, making 12 branch locations across Kentucky in Hardin, Grayson, Meade, Nelson, Boyle and Taylor counties. Currently, Fort Knox Federal Credit Union has over 67,000 members with over $700 million in assets.

Keep in mind, some of the institutions listed below have strict eligibility requirements (esp. credit unions) so you may want to contact a representative directly to see if you are eligible. However, even if you do not live in Kentucky you may be able to take advantage of the products but it will most likely depend on your living situation (ie where you work, live, worship, attend school, etc).

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 (Kentucky):

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

Fort Knox Federal Credit Union: Radcliff, KY. 17 month CD yielding 2.75% APY with a minimum deposit amount of $500. This is a promotional offer and is available for a limited time only. As a rule of thumb, when you receive offers with maturities outside the standard 6 month increments (ie 17 months) it is almost always a promotional offer. These offers may remain on the table for 1 day to 3 months depending on the institution. Like all CD rates they are time-sensitive in nature. Fort Knox Federal CU currently has a few promotional CD rates – a 7 month, 11 month and 17 month CD with yields of 2.50% APY, 2.60% APY and 2.75% APY, respectively.

Fort Campbell Federal Credit Union: Hopkinsville, KY. 24 month CD yielding 2.80% APY with a minimum deposit amount of $1,000. Like Fort Knox Federal CU, this credit union has fairly strict eligibility requirements. To sign up for one of the deposit products you must have a military ID and live or serve near one of their seven locations throughout Kentucky. You may also be eligible if you are a family member of someone who fits that criteria. Fort Campbell is also offering a very noteworthy 12 and 36 month CD which are yielding 2.50% and 3.0% APY respectively.

First Citizens Bank of Carrollton: Carrollton, KY. 36 month CD yielding 3.0% APY with a minimum deposit amount of $1,000. First Citizens Bank of Carrollton has been around since the 1880′s but only has a few ATM and branch locations within the state of Kentucky. Their rates page was last updated in February so I would contact a representative directly to ensure yourself the most up to date rates.

All of the institutions mentioned above are federally insured by either the FDIC or NCUA and your deposits are secure up to $250,000. If you reside in the state of Kentucky and know of a better CD rate offered by your local institution, please share by leaving a comment.

The latest in our quest for 3.0% 12 month CD’s comes from a credit union in the southeast (Bowling Green, Kentucky). Currently they have two noteworthy deposit rates. The first is a 12 month CD yielding 3.10% APY with a $500 minimum deposit. The second is a 18 month CD yielding 3.25% APY with a $500 deposit.

The only negative news about these rates is that most of the US population is probably ineligible to receive them. Like most credit unions, there are strict geographical restrictions (among other restrictions) for membership.

Southeast Financial Federal Credit Union has a 3 step process for deciphering whether or not you’re eligible for membership.

1) You can become a member via employer. Follow the “3 step” link above to see if you’re employer matches their list of accepted employers.

2) You can become a member via community. If you live, work, worship, attend school or volunteer in the greater Bowling Green, Kentucky area you are most likely eligible to join (and invest in their lucrative bank CD’s)

3) Or, perhaps the most interesting and rewarding, if make a $5.00 donation to their autism school of middle Tennessee you can automatically qualify for membership. (You must call them for details).