Over the weekend we were tipped off on a nice little local bank CD coming out of Great Plains Credit Union in Wichita, Kansas – for all of our Midwestern readers who happen to be in the market for a decent savings account product. Currently with a minimum deposit of $10,000, you can lock in one of the GPCU’s high yielding CDs (certificate of deposits). The potential downside to these rates is the rather hefty minimum deposit requirement of $10k, but if you do have this type of cash to plop into a CD, you can lock in rates much higher than the national average.
GPCU has a 12 month CD yielding 1.21% APY with a deposit of $10k or greater and a 24 month CD yielding 1.51% APY with the same deposit requirement. To put these offers in perspective, the national average for 1 year and 2 year CDs sits at 1.05% and 1.15%, respectively.
Wichita, Kansas CD Rates (other noteworthy local offers):
*rates accurate as of March 2011.
- Home Bank and Trust Company (Wichita, KS) has a 24 month CD yielding 1.50% APY with a minimum deposit of $1,000 required.
- Hutchison Credit Union (Wichita, KS) has a 24 month CD yielding 1.46% APY with a minimum deposit of just $500 required.
- Central Star Credit Union (Wichita, KS) has a 60 month CD yielding 2.85% APY with a $1,000 deposit required.
- Kansas State Bank of Manhattan (Wichita, KS) has a 60 month CD yielding 2.50% APY with a minimum deposit of $500 required.
If you live in Wichita and know of a local bank rate that deserves some recognition, let us know by leaving a comment!