#Interes rates on safe federal credit union full
Offers a locked rate for 6 months: Unlike a savings or money market account, whose rate can be reduced at any time, a 6-month CD is guaranteed to pay the agreed upon APY for the full six months.If rates drop, you may regret not opening a longer CD If rates rise, you'll be locked at a lower APY Signature Federal Credit Union – 5.50% APY.Mountain America Credit Union – 5.50% APY.Bayer Heritage Federal Credit Union – 5.65% APY.Then, if there's still a tie, the institutions are listed alphabetically. In cases where more than one institution pays the same top rate, we've prioritized CDs by the shortest term, then the CD requiring a smaller minimum deposit. Those requiring a minimum deposit of up to $25,000 are eligible for our list.
We've ranked the highest-paying CDs with approximately 6-month terms (includes terms ranging from 5 to 9 months) by drawing on the most current rate data from about 200 banks and credit unions that offer certificate products nationwide.
It’s currently unknown if the Fed will implement any further increases this year, but if it does, that could nudge CD rates higher still. CD rates closely follow the fed funds rate, so rates may continue to trend slightly higher. With another increase announced July 26, the Fed has hiked the federal funds rate a cumulative 5.25%. Today’s CD rates are higher than we’ve seen in 16 years, pushed up by the Federal Reserve’s rate-hike campaign that began in March 2022 to tame inflation.
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