Term options: Raisin has a variety of term lengths available from different financial institutions. Currently, the Pacific Western Bank CD is the highest-yielding 1-year CD available right now. Why it stands out: Through Raisin, you can use one platform to find, fund, and manage multiple high-yield savings accounts and CDs from over 20 banks and credit unions. Then you'll just need to open a savings account. The easiest way to become a member of Signature FCU is to enroll in the American Consumer Council. Keep an eye out for: Credit unions require membership to open an account. 180 days of interest for terms of 12 months and 4 years.Penalties: Signature Federal Credit Union charges standard penalties for early withdrawals of your principal balance, as follows: Term options: Terms range from 3 months to 5 years. The 3-month, 6-month, and 2-year terms have particularly high rates right now. The Signature Federal Credit Union Certificate has a low $500 minimum opening deposit. Why it stands out: Signature Federal Credit Union is a solid choice if you prioritize banking with a credit union. Signature Federal Credit Union Certificate ![]() What to look out for: This promotional CD has specific opening requirements: Your deposit cannot exceed $7,000, and there is a limit of one CD special per member. The penalty may depend on the amount withdrawn. ![]() Penalties: You'll have to contact your nearest branch to learn more information about early withdrawal penalties. Term options: Alpena Alcona Area Credit Union also has terms ranging from 90 days to 5 years. To become a member, you must 1) live, work, own property, go to school, or worship in any county in Michigan, 2) work at the credit union, or 3) have an immediate family member who is an existing member. You can earn 7.19% APY on a 7-month CD if you qualify for membership at the credit union. Why it stands out: Alpena Alcona Area Credit Union has the highest CD rate available right now. About the Best CD IssuersĪlpena Alcona Area Credit Union 7-Month CD Also, make sure you know what steps you need to take once your CD term ends. Read Our Review A looong arrow, pointing rightĬDs aren't as accessible as other types of savings accounts, so bear in mind how long you can keep money in the account without potentially facing early withdrawal penalties. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account. Although three financial institutions were shut down in 2023, keep in mind money is safe at a federally insured financial institution. Our top picks for CDs are protected by either FDIC or NCUA insurance. Start savings with Technology Credit Union (powered by Raisin). Start saving with First National Bank of America. ![]() Start saving with Quorum Federal Credit Union. Start saving with Signature Federal Credit Union. Start saving with Pacific Western Bank (powered by Raisin). The CD also permits a maximum deposit of $7,000. Generally, you must live, work, own property, go to school, or worship in any county in Michigan work at the credit union or have an immediate family member who is an existing member. To open a CD at Alpena Alcona Area Credit Union, you must qualify for membership. The Best CD RatesĪlpena Alcona Area Credit Union (7-month term) paying 7.19% APY If you want a no-penalty CD, a unique term length, or if you don't have much money to deposit, we've also included picks for these circumstances, too. We check rates daily to find the best rates for a variety of CD terms. The best CD rate is 7.19% APY on a 7-month certificate from Alpena Alcona Area Credit Union.
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