A slight draw back with First People’s Community Federal Credit Union’s 5 year CD is that their is a fairly steep minimum deposit requirement of $5000. Compare this with most online banks and you’ll find that the online institutions offer much more leniant minimum deposits (if they even make such requirements at all).

If you looking for slightly shorter maturities from FPCCU they also have a 21-month CD special earning up to 2.10% APY) and a 39-month CD earning 2.60% APY.

Who can join First People’s Community Credit Union?

First Peoples Community Federal Credit Union serves any persons who live or work in Allegany County, Maryland, Garrett County, Maryland, Somerset County, Pennsylvania or Mineral County, West Virginia. Membership is also available to Verizon employees that headquartered in the counties of Frederick, Washington, Allegany, and Garrett in Maryland.

Check out the best 5 year CD rates from our database to find available products near you.

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 West Virginia, we have found that in some instances you will lock in more competitive rates with national institutions rather than local ones (if you are eligible). Before committing to one of the banks/credit unions listed below, you may want to browse through our national money market rates tables.

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 West Virginia:

(click on the institution for more information)

• West Virginia Federal Credit Union: South Charlseton, WV. Money market account yielding up to 2.0% APY depending on the monthly minimum balance you can keep. This account is set up in 4 tiers based on the amount of money you have on an average scale throughout the month. The first tier provides an interest rate of 1.36% and is applied to balances between $1k and $4,999. The second provides an interest rate of 1.51% and is applied to balances between $5k and $9,999. The third tier provides an interest rate of 1.71% APY and is applied to balances of $10k and $49,999. The last tier is applied to balances above $50k and provides a lucrative APY of 2.0%. You are eligible to join this credit union if you live, Work, Worship or Attend School in Boone, Cabell, Kanawha, Lincoln, Putnam or Wayne Counties. Contact: (304) 414-3572
• Pioneer West Virginia Federal Credit Union: South Charleston, WV. Three separate money market accounts. The first is called the ” Founders Money Market” which yields and APY of 1.70%. The second is called the Platinum money market and provides and interest rate of 1.85%. The thirst is just a money market account which only yields (a still respectable 1.60% APY). Although no minimum balances associated with these accounts are shown on their website, we would have to imagine such requirements come with these products. Pioneer West Virginia FCU has three primary offices: one in South Charleston, the other in Fayette/Oakhill, and the last in Riverside/Belle. Contact: (303) 348-6648

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

Although the financial institutions we’ve listed below do the majority of their business in West Virginia, they still may have eligibility requirements which may prevent you from joining (even if you live in WV). 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: West Virginia

(clicking on the institution will bring you to their homepage)

• Mercer County Teachers Federal Credit Union: Bluefield, WV. 6 month CD yielding 2.17% APY with a minimum deposit of $1,000. The current national average for 6 month CDs sits at roughly 1.30% APY. They also have a noteworthy 12 month CD with an interest rate of 2.25% and an 18 month CD with an interest rate of 2.50%. The Mercer County WV Teachers Federal Credit Union was chartered on April 8, 1954 by the Bureau of Federal Credit Unions. Their field of membership now includes any employee working for the Mercer County Board of Education, Bluefield State College, Bluefield College, Ceres Elementary School K-5th and any immediate family member of these employees.
• Alloy Federal Credit Union: Fayetteville, WV. 24 month CD yielding 2.75% APY with a minimum deposit of $1,000. The national average is currently 2.00% APY. They also have 36 month CD yielding a respectable 3.0% APY and a 60 month CD yielding 3.25% APY. To join you must pretty much live, work or worship in Fayette county or have a family member whom fits that criteria. If you are an individual eligible for membership and would like to join, you must come into their office and provide a state issued picture ID.  If you are not a resident of Fayette County, as verified by your ID, you must also bring some form of verification of other membership eligibility, for example, a pay stub showing you are employed in Fayette County, or a school/college ID showing you are currently attending school in Fayette County, or verification of church membership within Fayette County, etc.
• Capon Valley Bank: Wardensville, WV. Two promotions – the first is a 15 month CD yielding 2.25% APY and the second is a 28 month CD yielding 2.75% APY. Both come with a minimum deposit of $5,000 and compound monthly. Capon Valley Bank is a subsidiary of Highlands Bankshares and has been in business since 1918. They primarily serve the communities of eastern Hardy county and the neighboring Hampshire County. They also have a new Stevenson branch which should be open this fall.

All of the above mentioned institutions are federally insured by either the FDIC or NCUA (credit union eqivilent to the FDIC). If you live in West Virginia and know of a better CD rate offered by your local bank or credit union, please share by leaving a comment.