Golf Savings Bank 4 year promotional CD rate: 3.40% APY

Golf Savings Bank out of Washington state has a great 4 year certificate of deposit which is currently yielding 3.40% APY! Thanks to BankVibe reader Justin for submitting this lucrative rate.

You will need a minimum deposit of $10,000 to invest in this product.

If you feel that a 4 year term is too long, they have a 1 year CD yielding 2.30% APY with the same minimum deposit. The national average for 12 month CD rates sits at roughly 1.65% APY (to put this offer in perspective).

They may change this rate at anytime, however, once your application is submitted, the rate is locked in and will be fixed for it’s duration.

They will impose withdrawal penalties if you need to take out of any of the money before the 4 year term is completed. In addition, they will automatically reinvest your money into another 4 year CD once the term is up if you do not specify otherwise.

For smaller deposits Golf Savings Bank offers a traditional savings account that yields 0.25% APY on balances below $1,000, 1.26% APY on balances from $1,000 to $10,000, 1.77% APY on balances from $10,000 to $50,000, and 2.02% APY on balances above $50,000. Keep in mind with the latter, there is a $3 monthly fee if you account falls below $300.

For those looking to invest a larger chunk of cash into something a little more liquid and with more flexibility they offer fairly competitive money market rates as well.

Money Market Rate breakdown…

0.65% APY up to $2,500
1.90% APY $2,500-$10,000
2.15% APY $10,000-$50,000
2.30% APY $50,000-$100,000
2.35% APY $100,000-$250,000
2.40% APY on balances over $250,000

Although Golf Savings Bank is headquartered in Washington state, their products are available throughout the country. Golf Savings Bank is member FDIC.

BECU (Boeing Employees Credit Union) Savings Account

Thanks to BankVibe reader Josh for tipping us off on a fantastic “Member Advantage” savings account currently going on through BECU. Although we covered this rate in the past, we thought it could use another shout-out since it’s yield has remained consistently high despite the overall downturn in the CD rate marketplace.

As of the first of August, any member of Boeing Employee Credit Union can open a member advantage savings account and receive a nice return of 6.17% APY!

Here’s the catch… You can only invest up to $500 into this account. Any amount past $500 will only receive an interest rate of 0.50%.

This is an ideal account for young or new savers looking for above average savings rates. This is a variable rate though and is subject to change at anytime without notice.

BECU used to only allow members whom worked for, or were family members of, employees at Boeing. However they have since opened their doors to anyone in Washington state. Compare Washington state CD rates to see how this interest rate stacks up against the local competition.

Features and Benefits:

• Free Online Banking, Bill Payment, and eStatements
• BECU Debit MasterCard
• Thousands of CO-OP Network surcharge-free ATMs
• Federally insured up to at least $250,000**
• No fees to maintain the account

Best certificate of deposit rates in Washington state (Top 3)

Below are the highest yielding certificate of deposit rates available to the residents of Washington state. After researching a few dozen local and regional credit unions and banks serving the state, we compiled a list of the top 3. These rates are time-sensitive in nature, therefor you must take the date of this article into consideration. If you feel they may be outdated you can dig through our archive of best CD rates in Washington state to find a more current offer.

The institutions in which we have listed below whom are currently offering the most lucrative rates may have strict eligibility requirements, especially if they are a credit union. If you do not reside in the state of Washington, then you may have a difficult time taking advantage of these products. If you do reside in Washington state, then you may still want to visit the institution’s membership eligibility page to see if you are eligible.

When forming this list, we realize that the highest deposit yields will be accompanied with the longest maturities, therefor we took the CD rates which are beating the national average by the highest margins so that we would not be strictly listing long term deposit certificates.

Top 3 CD rates (Washington State)

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

Wings Financial Federal Credit Union (PDF): Seattle, WA. 12 month CD yielding 2.78% APY with a minimum deposit amount of $500. The current national average rate for a 1 year CD is roughly 1.67% APY. Wings Financial Federal Credit Union serves employees of entities engaged in the Air Transportation Industry who work in the United States, meaning:

• employees of airlines;
• government employees who work directly in the administration, regulation, or security of airlines, airports, or air transportation; and
• employees who are located at an airport if they work directly with:
  • air transportation of freight
  • air courier services
  • air and air transportation support and services, for example, janitorial services, airport baggage handling, aircraft cleaning, maintenance and repair services, and runway maintenance services; and
  • on-board airline food services.

North Cascades National Bank: Wenatchee, WA. 36 month CD yielding a rate of between 3.09% – 3.40% APY. The rate you receive is dependent upon how much you deposit. If you deposit the minimum amount you will receive 3.09% APY if your deposit is greater than $100,000 you will receive 3.40% APY. Although, in the title, this bank claims to be a national one, they list community banking with local locations as one of the greatest strengths. They are headquartered in Chelan, WA and serve the state of Washington and perhaps more. You may want to contact them for further eligibility requirements.

Cashmere Valley Bank: Wenatchee, WA. 48 month CD yielding 3.40% APY with a minimum deposit amount of $100. Cashmere Valley Bank was established September 24, 1932 by two brothers, Hy W. Rieke and H.H. Rieke, who moved to Cashmere after selling their interest in another bank in Odessa, Washington. Cashmere was chosen as the site to begin their new bank because the community was without a financial institution after the failure of two banks during the beginning of the Great Depression. They currently have 11 locations serving most of the middle to east side of the state.

If you reside in Washington state and know of a better deposit rate offered by your local bank or credit union, please share by leaving a comment.

All of the above mentioned institutions are federally insured by the FDIC.