It seems the trend of credit unions giving out the best CD rates still holds true for jumbo certificates of deposits. Right now, one of the highest jumbo CD rates come from Neighbors Federal Credit Union. Right now, their 1-year jumbo CD boasts a 1.25% APY. This is considerably higher than the top jumbo CD from banks which is 1.21% from AloStar Bank of Commerce.

Jumbo CD rates are for those investments of $100,000 and above, and are usually made by small businesses and rarely by individual depositors. Below are more rates from Neighbors Federal Credit Union:

Certificate and APY

* 6 Months – 1.00 %
* 12 Months – 1.25 %
* 24 Months – 1.50 %
* 36 Months – 2.00 %
* 48 Months – 2.25 %
* 60 Months – 2.50 %

Most Credit Unions only offer their rates to members, and usually this membership is limited depending on the union’s community. Neighbors Federal Credit Union only serves those who works, lives, worships, or attends school in the following nine Louisiana parishes: Pointe Coupee, East Baton Rouge, Ascension, West Baton Rouge, Livingston, East Feliciana, West Felciana, Saint Helena and Iberville. It seems that Louisiana has a lot to be happy about.

For those who are not eligible to join the union, AloStar Bank of Commerce still gives a competitive rate which may be worth considering. There are also many other credit unions all over the state that may just provide a good rate for small businesses who are looking for places to park their money while the economy is still at a turmoil. AloStar also offers competitive rates to regular certificates of deposit.

Despite the low rates, certificates of deposit may still be the better choice considering these times since the stock market may be too volatile at the moment. Investors and small businesses can only hope for an improvement in the economy, and for an increase in rates. As for regular certificates of deposit, credit unions still offer the highest rates, lead by Worcester Fire Department Credit Union.

Some of the highest savings accounts are paying more than some of the best short term CDs at 1.50%. With Readysaver.com taking the top spot for the highest savings account rate, this knocks down many short term CD rates. The average 12 Month CD is sitting at 1.50% APY with many banks offering just under the 1.50% mark.

The difference with saving account rates is their ability to go down at any time, they are variable based on the bank. Most CD rates are locked at the specific interest rate for the specified time and cannot go down within that time frame.

With a savings account your money is never locked up. You have no early withdrawal penalties and can take your money out at any time. You can always move your money to a more lucrative investment if one comes around, but for the time being it’s a good time to take advantage of these top savings accounts.

Here is a list of the highest Savings Accounts Nationally:

• 1.50% APY with a minimum deposit of $1 from Readysaver.com. Southern Community Bank and Trust operates the website.
• Sallie Mae Bank is offering 1.40% APY savings account with no minimum deposit. This is an online bank owned by the leader in student loans.
• NewDominon Bank is also offering 1.40% APY savings account with a minimum deposit of $1,500. NewDominon Bank is located in Charlotte and Mooresville, NC. They have a $10 monthly service fee for any savings account under $1,000.
• Capital One Bank is offering 1.35% APY with a minimum deposit of $1,000. They have 700 branches in New York, New Jersey, Connecticut, Louisiana and Texas. They have an InterestPlus Online Savings that also pays a 10% bonus on ‘interest earned’ for qualifying accounts.
• Discover Bank is also offering 1.35% APY with a minimum deposit of $500.

Capture these returns or learn more about savings rates and CD rates from our database of CDs.