Here are W.F.D.C.U’s other CD rates and terms:

• 6 Month CD – 1.51% APY
• 18 Month CD – 1.91% APY
• 24 Month CD – 2.12% APY
• 36 Month CD – 2.32% APY

All of these terms require an active status with the credit union and also requires a minimum deposit of $1,000.

Worcester Fire Dept. Credit Union is located in Worcester Massachusetts and opened its doors to business in 1937 as a way of giving back to its firefighters. The Credit Union also offers a variety of financial products such as loans, credit cards, and deposit accounts. Be sure to contact Worcester Fire Dept. Credit Union to learn about setting up an account and benefiting from the best CD rates on the market.

Time and time again we have seen credit unions beat out the big banks on the rates they offer for not only savings accounts but also certificates of deposits. Most Credit Unions are out of reach of the average person or they have strict membership requirements, one of the many reasons why they can offer higher rates. Right now Melrose Credit Union has held the top spot for most of the popular CDs, but Connexus Credit Union has higher rates for the 12 month and 60 month CDs.

We stated that many credit unions have strict requirements or do not allow just anyone to join unless if they are employees or are associated with the credit union in some manner. With Connexus Credit Union anyone can join by registering through the Connexus Association and pay a one-time fee of $5. You then have to open a savings account with another $5. To receive the higher rate on CDs with Connexus, you will have to open a checking account, which has to be an ‘active account’. They define an active account as:

having at least 1 Direct Deposit of net pay, including salary, wages, government benefits or pension made to the account each month. Have 10 checks, ACH withdrawals and/or signature debit card transactions clear the account by the last business day of each month, and electing to receive eStatements.

We asked how much checks cost and were told for a box of 150 checks the cost was $14.76. Connexus Credit Union is located in Wausau Wisconsin.

Connexus has a minimum deposit of $10,000 to receive their highest rates. For balances under $10,000 you will lose about 0.50% APY.

• 12 Month CD rate of 1.75% APY versus Melrose Credit Union at a rate of 1.31% APY
• 60 Month CD rate of 3.00% APY versus Melrose Credit Union at a rate of 2.83% APY

The national averages for both the 12 Month CD stands at 0.43% and 60 Month CD at 1.53% as stated by the FDIC.

The bank offering the highest 12 month CD is AloStar Bank of Commerce at 1.27% and the bank offering the highest 60 month CD is First Internet Bank of Indiana at 2.40% APY.

It might be worth going through some of the hurdles at your local credit union to get the higher CD rate. Some credit unions, such as those listed here are open to anyone, anywhere within the United States and have few restrictions. You can always find the best CD rates by going through our database of banks on our CD rates page.

Be sure to visit the Navy Federal Credit Union’s website to learn more about this Special CD offer. You can also find the best CD rates by viewing our CD rates page.

Certificates of deposit will allow your money to earn interest at a fixed rate set by the bank. With a minimum requirement, you’ll be able to earn much more than your regular savings account without having to tie your money to an establishment for a long time. CD’s can give you fixed returns at a period of 30 days, 60 days, 6 month CD’s, 1 year, and more, depending on what type of CD the bank offers, and the CD you choose. So where can you go to make the most out of your money?

Right now, the top 10 12 month CD rates range from 1.24% to 1.35% interest rates. It may not be as high as CD’s in previous years, but these CD rates are as good as it gets for now. Leading the pack is the Metropolitan National Bank of New York City. With a minimum deposit of only $1,000, depositors can enjoy the highest CD rate with a relatively small amount of deposit.
Investors not located in New York City need not worry since anyone can open an account online through their website. One thing depositors have to note however is that if they would like to collect their interest at maturity, they will have to inform the bank ahead of time as the bank will automatically roll the money into another 1 year CD. Early withdrawals will suffer a penalty, so it’s best to keep track of the timeline.

Other banks that give as much as 1.30% interest on one-year certificates of deposit are Bank of Internet USA in California, Incredible Bank in Wisconsin, and Ascencia, PBI Bank in Louisville Kentucky.

Below is a list of the top 10 banks with the best CD rates by far. Find out if you have one near your area, if not, you could always go ahead and open an account online.

1.    Metropolitan National Bank
New York, NY
Interest Rate: 1.35%
Minimum Deposit: $1,000

2. Bank of Internet USA
San Diego, CA
Interest Rate: 1.30%
Minimum Deposit: $1,000

3.  Incredible Bank
Wasau, WI
Interest Rate:    1.30%
Minimum Deposit: $10,000

4. Ascencia, a div. of PBI Bank
Louisville, KY
Interest Rate: 1.29%
Minimum Deposit: $1,000

5. Transportation Alliance Bank
Ogden, UT
Interest Rate: 1.25%
Minimum Deposit: $1,000

6. Aurora Bank, FSB
Wilmington, DE
Interest Rate: 1.25%
Minimum Deposit: $1,000

7. 89 Goldwater Bank
Scottsdale, AZ
Interest Rate: 1.25%
Minimum Deposit:$5,000

8. Ally Bank
Midvale, UT
Interest Rate: 1.24%
Minimum Deposit: $0

9. Nationwide Bank
Columbus, OH
Interest Rate: 1.24%
Minimum Deposit:$500

10. MetLife Bank
Bridgewater, NJ
Interest Rate:    1.24%
Minimum Deposit: $25,000

For those who are low on cash, Ally Bank in Midvale Utah will give you the best deal there is. With a 1.24% CD rate and no minimum deposit required, it gives hope to the starting investor.

When shopping for CD rates, it’s always best to check out the fees that might come along with it. Be aware of the rules your bank imposes and get the lowdown on taxes, fees and penalties. This will help you make the smarter decision on getting the most out of your money.

The other two banks, Sanibel Captiva Community Bank from Florida and Bank of Internet based out of San Diego California offer the best 3 month and 6-month terms.

All of the major banks, such as Chase, Band of America, Wells Fargo, stopped offering competitive rates ever since the financial crisis started in 2008.

CD rates can change at a moment’s notice so be sure to check our CD rates page for the most up to date information.

We list these banks and credit unions because they offer their rates to anyone nationwide.

Unlike most credit unions, Melrose is open to savers regardless of where they live and work. Anyone can open an account with Melrose for only a $1 joining fee and a minimum of $25 kept in a savings account.

While most major banks and financial institutions are lowering their rates, the big student lender, Sallie Mae has stayed steady and now they are on top for the best 1 year CDs.

In February 2010 the average 12 month CD rate was sitting around 0.77% APY and now in September, is sitting around a record low of 0.61%.

Here is a list of the next best nationally available CD rates:

• NewDominion Bank – Paying 1.51% APY with a minimum deposit of $3,000.
• Ascencia – Paying 1.50% APY with a minimum deposit of $500.
• Bank of Interest USA – Paying 1.48% APY with a minimum deposit of $1,000.
• Giantbank.com – Paying 1.46% APY with a minimum deposit of $2,500.

These banks are open to anyone within the U.S.

Be sure to compare our latest CD rates from our database of banks and other financial institutions.

Ally Bank has a 60 days interest, early withdrawal fee for closing out your CD early. They also have a ‘No Penalty CD’ offer at a lower rate, but your money is not locked up for the term of the certificate of deposit.

How much can you earn from this rate?

If you were to deposit at least $25,000 into the 12 Month CD from Ally Bank, you would earn $360.06 in 12 months.

Ally Bank also has a competitive 5 year CD at 2.79% APY, that would earn $3,684.89 for the same deposit.

If you decide to invest into any Ally CD’s be sure to watch your maturity date, as Ally will automatically renew the account if it is not closed. Check out their current rates here.

Here are the best CDs currently available to resident’s nation wide:

• 3 Month CD – 1.35% APY at iGobanking with a minimum deposit of $500.
• 6 Month CD – 1.25% APY at NewDominion Bank with a minimum deposit of $3,000.
• 12 Month CD – 1.76% APY at Melrose Credit Union with a minimum deposit of $5,000.
• 24 Month CD – 2.02% APY at Melrose Credit Union with a minimum deposit of $5,000.
• 36 Month CD – 2.52% APY at Melrose Credit Union with a minimum deposit of $5,000.
• 60 Month CD – 3.29% APY at Melrose Credit Union with a minimum deposit of $5,000.

Melrose Credit Union is one Credit Union that allows any U.S. resident to join with a sign up fee of $1. This makes Melrose a great option since they also have some of the Nation’s best CD rates available.

You can always compare the best CD rates from our database of banks and institutions to find the best options for your money.

With all of this said, Melrose Credit Union is looking even better than ever. Their minimum deposit of $5,000 is easily attainable for the average investor and is one of the few Credit Unions that is open to anyone, anywhere in the US.

Melrose has a single location in Queens, NY and has an opening fee of $1.

If you feel more comfortable with putting your money in a bank and not a credit union, Sallie Mae Bank is your next best bet. As we stated they hold the second best CD rate of 1.55%.

Other banks offering close to 1.50% APY 1 Year CD are:

• New Dominion Bank, out of North Carolina with a minimum deposit of $3,000.
• Discover Bank, with a minimum deposit of $2,500.
• Bank of Interest with a minimum deposit of $500.

Many smaller banks hold interest rates around 1.50% APY, rather than bigger banks whose interest rates barely break over 1%. To find the highest CD rates you will want to look into a local Credit Union or view our list of the best CD rates currently available.

You can always view and compare CD rates from our CD rates database.

• 3 Month CD – 1.35% APY at iGObanking with a minimum deposit of $500.
• 6 Month CD – 1.25% APY at New Dominion Bank with a minimum deposit of $3,000.
• 12 Month CD – 1.76% APY at Melrose Credit Union with a minimum deposit of $5,000.
• 24 Month CD – 2.02% APY at Melrose Credit Union with a minimum deposit of $5,000.
• 36 Month CD – 2.52% APY at Melrose Credit Union with a minimum deposit of $5,000.
• 60 Month CD – 3.29% APY at Melrose Credit Union with a minimum deposit of $5,000.

These are the best places to find the highest paying CD Rates currently in the Nation. Most Credit Unions have many requirements to fulfill before you are allowed to become a member but Melrose Credit Union makes it possible for anyone to join. The cost of joining their Credit Union is $1.

You can find the most up to date CD rates from our CD Rates page.