Melrose Credit Union still has some of the best CD rates in the country.
And we haven’t forgotten that.
Which is why from time to time we’ll continue to report on the dependably great CD rates Melrose Credit Union has to offer.
Next week will mark six months since Melrose changed its CD rates.
We all know what’s happened to most bank and credit union certificates of deposit in the last half year.
That’s what makes Melrose’s run all the more impressive.
Melrose beats the top rates on our CD Rates Leaderboard in four of the six terms we track.
With a $5,000 minimum deposit, the New York-based credit union is offering:
- 1.41% APY on its 12-month CD.
- 1.66% APY on its 24-month CD.
- 2.17% APY on its 36-month CD.
- 2.93% APY on its 60-month CD.
Earlier this month, we decided our CD Rates Leaderboard would include banks only. This made Melrose ineligible even though its rates consistently beat out most banks.
Why?
Because credit unions — even Melrose Credit Union — offer their great CD rates with strings attached.
In Melrose’s case, you have to pay a $1 membership fee and open and maintain at least $25 in a savings account.
Other credit unions aren’t as generous with their requirements.
Fort Knox Federal Credit Union, which is paying 3.05% APY on its 60-month CD rates, charges a $15 membership fee.
And Connexus Credit Union has three top CD rates — 1.50% APY on 6-month CDs, 1.75% APY on 12-month CDs and 3.00% APY on 60-month CDs — but charges a $10 sign-up fee and requires you have an active checking account.
As always, you can compare these returns with the best CD rates from scores of banks in our database.
Similar Posts:
- The CD Rates Leaderboard For August 20
- CD Rates Leaderboard For December 13
- 36-Month CD Rates Hold Steady
- Banks That Buck Trend On 3-Year CD Rates
- Banks and Credit Unions
