What Credit Unions Typically Have The Highest CD Rates?
Latest ways to get the highest CD rates through credit unions!
The economic downturn has created a dismal outlook for the investor who has the primary part of their investments in CD’s. Banks and even credit unions are offering lower rates now with the current Federal Reserve lending rate moving between historically low points of 0-.25%. Generally speaking credit unions offer the highest CD rates. Finding the high CD rates you have in the past are going to be virtually impossible in today’s economy. Midterm outlooks show little or no growth until 2011 and a very gradual growth past that for nearly a decade. Some investors are locking in long term rates now anticipating a further decline in the United States economy while others are looking toward short term CD instruments so they can take advantage of the growth curve when it starts to occur.
What target rate should I expect?
Currently you should be looking for anything over 2.75% if you are investing in three years plus CD certificates. Few credit unions will offer such rates for less than three year deposits. If you are looking to invest in short term CD certificates expect to get between .28% and 2.55% interest rates as of October 2009 and you may not get that. However you will get the highest CD rates available through a credit union.
Where should I look for the highest CD rates through credit unions?
Currently the best credit union for six month CD’s is Northrop Grumman FCU with a 1.63% return as of October 2009 with a minimum of a 40k deposit. One year CD’s are slightly better at Alliant Credit Union with a 2.30% return during October 2009 with a minimum of a 25k deposit. Two year CD’s seem much more attractive with a 2.55% return through Alliant Credit Union with a minimum of a 25k deposit. If you are going for the long haul Alliant Credit Union is again at the top of the crowd with 3% returns rates and a minimum deposit of 25k as of October 2009.
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