BEST OF
By Spencer Tierney
Edited bySara Clarke
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ALSO CONSIDER: Best CD rates || Best credit unions || Best high-interest accounts
Credit unions tend to have higher savings rates than banks, and some even compete with online banks' rates. Share certificates — what many credit unions call their certificates of deposit — have terms that range from several months to years, with minimum deposits varying by institution.
Unlike banks, credit unions can restrict membership based on geography, employer and other criteria, so be sure to check eligibility requirements. Here's a look at some of the best credit union CD rates.
Best Credit Union CD rates 2024
Easy to join:
Pentagon Federal Credit Union: APYs: 4.20% (1 year); 3.60% (3 years); 3.50% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Connexus Credit Union: APYs: 5.01% (1 year); 4.21% (3 years); 3.51% (5 years); Term range: 1 - 5 years; Minimum to open: $5,000.
Alliant Credit Union: APYs: 5.15% (1 year); 4.20% (3 years); 4.00% (5 years); Term range: 3 months - 5 years; Minimum to open: $1,000.
Andrews Federal Credit Union: APYs: 5.00% (1 year); 4.20% (3 years); 3.90% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Self-Help Credit Union: APYs: 4.71% (1 year); 4.08% (3 years); 4.08% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Competitive rates but restrictive membership:
Navy Federal Credit Union: APYs: 5.05% (1 year); 4.00% (3 years); 3.80% (5 years); Term range: 3 months - 7 years; Minimum to open: $1,000.
SchoolsFirst Federal Credit Union: APYs: 4.45% (1 year); 4.45% (3 years); 4.60% (5 years); Term range: 1 month - 5 years; Minimum to open: $500.
America First Credit Union: APYs: 5.15% (1 year); 4.35% (3 years); 4.20% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Community First Credit Union of Florida: APYs: 4.29% (1 year); 4.14% (3 years); 4.09% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Delta Community Credit Union: APYs: 5.15% (1 year); 4.00% (3 years); 4.00% (5 years); Term range: 6 months - 5 years; Minimum to open: $1,000.
ALSO CONSIDER: Best CD rates || Best credit unions || Best high-interest accounts
Credit unions tend to have higher savings rates than banks, and some even compete with online banks' rates. Share certificates — what many credit unions call their certificates of deposit — have terms that range from several months to years, with minimum deposits varying by institution.
Unlike banks, credit unions can restrict membership based on geography, employer and other criteria, so be sure to check eligibility requirements. Here's a look at some of the best credit union CD rates.
Best Credit Union CD rates 2024
Easy to join:
Pentagon Federal Credit Union: APYs: 4.20% (1 year); 3.60% (3 years); 3.50% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Connexus Credit Union: APYs: 5.01% (1 year); 4.21% (3 years); 3.51% (5 years); Term range: 1 - 5 years; Minimum to open: $5,000.
Alliant Credit Union: APYs: 5.15% (1 year); 4.20% (3 years); 4.00% (5 years); Term range: 3 months - 5 years; Minimum to open: $1,000.
Andrews Federal Credit Union: APYs: 5.00% (1 year); 4.20% (3 years); 3.90% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Self-Help Credit Union: APYs: 4.71% (1 year); 4.08% (3 years); 4.08% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Competitive rates but restrictive membership:
Navy Federal Credit Union: APYs: 5.05% (1 year); 4.00% (3 years); 3.80% (5 years); Term range: 3 months - 7 years; Minimum to open: $1,000.
SchoolsFirst Federal Credit Union: APYs: 4.45% (1 year); 4.45% (3 years); 4.60% (5 years); Term range: 1 month - 5 years; Minimum to open: $500.
America First Credit Union: APYs: 5.15% (1 year); 4.35% (3 years); 4.20% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Community First Credit Union of Florida: APYs: 4.29% (1 year); 4.14% (3 years); 4.09% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Delta Community Credit Union: APYs: 5.15% (1 year); 4.00% (3 years); 4.00% (5 years); Term range: 6 months - 5 years; Minimum to open: $1,000.
🤓Nerdy Tip
Some financial institutions have started lowering CD yields, though overall rates remain high. With a CD, you can lock in high rates while they’re still around.
Best Credit Union CD Rates 2024
| Bank/institution | NerdWallet rating | Minimum deposit | APY | Learn more |
|---|---|---|---|---|
Connexus Credit Union Certificate Read review | 4.0/5 Best for Easy to join | $5,000 Federally insured by NCUA | 1-year APY 5.01% 3-year APY 4.21% 5-year APY 3.51% | Read review |
PenFed Credit Union Money Market Certificate Read review | 4.0/5 Best for Easy to join | $1,000 Federally insured by NCUA | 1-year APY 4.20% 3-year APY 3.60% 5-year APY 3.50% | Read review |
Navy Federal Credit Union Standard Certificate Read review | 3.5/5 Best for Competitive rates but restrictive membership | $1,000 Federally insured by NCUA | 1-year APY 5.05% 3-year APY 4.00% 5-year APY 3.80% | Read review |
SchoolsFirst FCU Certificate Read review | 4.0/5 Best for Competitive rates but restrictive membership | $500 Federally insured by NCUA | 1-year APY 4.45% 3-year APY 4.45% 5-year APY 4.60% | Read review |
Alliant Credit Union Certificate Read review | 5.0/5 Best for Easy to join | $1,000 Federally insured by NCUA | 1-year APY 5.15% 3-year APY 4.20% 5-year APY 4.00% | Read review |
Self-Help Credit Union Term Certificate Read review | 4.0/5 Best for Easy to join | $500 Federally insured by NCUA | 1-year APY 4.71% 3-year APY 4.08% 5-year APY 4.08% | Read review |
Andrews Federal Credit Union Fixed Rate Share Certificates Read review | 4.0/5 Best for Easy to join | $1,000 Federally insured by NCUA | 1-year APY 5.00% 3-year APY 4.20% 5-year APY 3.90% | Read review |
America First Credit Union Certificate Read review | 5.0/5 Best for Competitive rates but restrictive membership | $500 Federally insured by NCUA | 1-year APY 5.15% 3-year APY 4.35% 5-year APY 4.20% | Read review |
Community First Credit Union CD Read review | 4.0/5 Best for Competitive rates but restrictive membership | $500 Federally insured by NCUA | 1-year APY 4.29% 3-year APY 4.14% 5-year APY 4.09% | Read review |
Delta Community Credit Union CD Read review | 4.0/5 Best for Competitive rates but restrictive membership | $1,000 Federally insured by NCUA | 1-year APY 5.15% 3-year APY 4.00% 5-year APY 4.00% | Read review |
Discover the bank accounts that fit your financial goals
Just answer a few questions to compare bank accounts that meet your needs.
Our pick for
Easy to join
NerdWallet rating
4.0/5Minimum deposit
$5,000
Federally insured by NCUA
APY
1-year APY: 5.01%
3-year APY: 4.21%
5-year APY: 3.51%
Why We Like It
Overview: Connexus Credit Union offers a handful of terms for share certificates from one year to five years, with solid rates. The $5,000 minimum is somewhat high compared to other credit unions.
Membership requirement: One of the easiest ways is to make a one-time donation of $5 to the nonprofit Connexus Association.
NerdWallet rating
4.0/5Minimum deposit
APY
1-year APY: 4.20%
3-year APY: 3.60%
5-year APY: 3.50%
Why We Like It
Overview: Pentagon Federal, or PenFed, historically focused on serving military personnel and their families, but it expanded membership in 2019 so you no longer need a link to the military to join. PenFed's money market certificates — what the credit union calls CDs — have solid rates across terms from six months to seven years. The opening minimum of $1,000 is somewhat low.
Membership requirement: PenFed is available to anyone, and as part of sign-up, you need to open a savings account with at least $5 to take advantage of its other accounts, including certificates.
Federally insured by NCUA.
NerdWallet rating
5.0/5Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY: 5.15%
3-year APY: 4.20%
5-year APY: 4.00%
Why We Like It
Overview: Alliant, an online credit union, has solid rates across its share certificates with terms ranging from three months to five years. The minimum deposit of $1,000 is somewhat low.
Membership requirement: The easiest way to become a member for people nationwide is to join the national nonprofit Foster Care for Success, which requires a one-time $5 membership fee. Alliant pays this fee on a new member’s behalf.
NerdWallet rating
4.0/5Minimum deposit
$500
Federally insured by NCUA
APY
1-year APY: 4.71%
3-year APY: 4.08%
5-year APY: 4.08%
Why We Like It
Overview: Self-Help is a community development credit union dedicated to making a positive social and environmental impact. Its branches are located primarily in the southeastern U.S., but members can join nationwide. Its share certificates range from three months to five years, and the minimum deposit of $500 is low.
In addition to regular certificates, Self-Help offers four other types of certificates: IRA certificates for retirement funds, and certificates that support women and children, eco-friendly initiatives or community investments in North Carolina.
Membership requirement: Anyone can join by paying a one-time $5 fee to join the credit union’s nonprofit, the Center for Community Self-Help. Free membership is also available to people who live where branches are: North Carolina, South Carolina, Virginia or Florida. (Or, if you’re in California, Illinois or Wisconsin, you can join the sister credit union Self-Help Federal Credit Union.)
NerdWallet rating
4.0/5Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY: 5.00%
3-year APY: 4.20%
5-year APY: 3.90%
Why We Like It
Overview: Andrews Federal Credit Union focuses on serving military communities, especially near Washington, D.C., but membership is open to anyone nationwide. The standard share certificates range from terms of six months to seven years, and the minimum deposit is somewhat low. Andrews also has jumbo CDs for balances of $10,000 or higher, IRA CDs for retirement funds and bump-up (or raise your rate) CDs for up to three rate increases within a term.
Membership requirement: Outside of being in the military or living in some areas such as Washington, D.C., anyone in the U.S. is eligible by first joining the nonprofit American Consumer Council. You can use the credit union’s promo code to waive the nonprofit’s membership fee. Before opening a share certificate, you must have money in an Andrews Federal checking or savings account.
Our pick for
Competitive rates but restrictive membership
NerdWallet rating
3.5/5Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY: 5.05%
3-year APY: 4.00%
5-year APY: 3.80%
Why We Like It
Overview: Navy Federal is the largest credit union, with more than 12 million members. It boasts an impressive range of share certificate rates, from three months to seven years, and a somewhat low minimum deposit of $1,000. Deposits at the $20,000 or $100,000 mark can have slightly higher rates.
Membership requirement: You or a family member generally need to be affiliated with the military.
NerdWallet rating
4.0/5Minimum deposit
$500
Federally insured by NCUA
APY
1-year APY: 4.45%
3-year APY: 4.45%
5-year APY: 4.60%
Why We Like It
Overview: SchoolsFirst Federal Credit Union is a California-based institution that focuses on serving teachers and other employees at schools in the state. Its share certificates have terms from one month to five years, and yields are competitive. The minimum balance is $500, and if you have $20,000 or more, higher rates are available.
Membership requirement: You work or have family that works at schools in the state of California as teachers or other employees. You also need to open the credit union’s basic savings account with at least $5.
NerdWallet rating
5.0/5Minimum deposit
$500
Federally insured by NCUA
APY
1-year APY: 5.15%
3-year APY: 4.35%
5-year APY: 4.20%
Why We Like It
Overview: Founded in 1939 in Salt Lake City, America First serves various communities in Utah and nearby states. The credit union’s certificates have a standard range of terms from three months to five years with a low minimum deposit.
Membership requirement: America First mostly restricts membership to people within parts of Utah, Nevada, Arizona, New Mexico, Idaho and Oregon, as well as employees or members of certain companies and relatives of America First members.
NerdWallet rating
4.0/5Minimum deposit
$500
Federally insured by NCUA
APY
1-year APY: 4.29%
3-year APY: 4.14%
5-year APY: 4.09%
Why We Like It
Overview: Community First focuses on serving people who live or work mostly in parts of northeastern and central Florida or along the state’s eastern coast, where many of its branches are. The credit union’s CDs have terms ranging from three months to five years and several rate tiers based on minimum deposit. The regular CDs have a $500 minimum while the highest tier requires $1 million. The higher the minimum, the higher the rate.
Membership requirement: You live, work or go to school in one of more than a dozen Florida counties; work at one of a handful of companies; or have family ties to Community First members.
NerdWallet rating
4.0/5Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY: 5.15%
3-year APY: 4.00%
5-year APY: 4.00%
Why We Like It
Overview: Founded in 1940 by Delta Air Lines employees, Delta Community Credit Union is now one of the largest credit unions in Georgia. The credit union’s number of CD terms is more limited than at many other credit unions and banks, but it has most of the common terms within the range of six months to five years. The minimum of $1,000 is somewhat low for CDs.
Membership requirement: You generally live or work in one of the counties in the Atlanta metro region, have employment ties to various companies (many specific to Atlanta, including Delta Air Lines), belong to a certain association or have family ties to a credit union member.
» Want to see more CD options? Check out our list of the best CD rates overall
How do CDs at banks and credit unions differ?
Banks are for-profit institutions while credit unions are not-for-profits. Your banking needs for CDs can generally be met at either, but if you prefer a banking institution known for being part of the community it resides in, credit unions tend to fill those shoes better.
Do banks or credit unions offer better rates?
On average, you can find credit unions with higher CD rates than traditional banks. However, online banks and online credit unions tend to offer some of the best rates available.
» Curious about other savings options? Check out NerdWallet’s best high-yield online savings accounts
Best Credit Union CD rates 2024
Easy to join:
Pentagon Federal Credit Union: APYs: 4.20% (1 year); 3.60% (3 years); 3.50% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Connexus Credit Union: APYs: 5.01% (1 year); 4.21% (3 years); 3.51% (5 years); Term range: 1 - 5 years; Minimum to open: $5,000.
Alliant Credit Union: APYs: 5.15% (1 year); 4.20% (3 years); 4.00% (5 years); Term range: 3 months - 5 years; Minimum to open: $1,000.
Andrews Federal Credit Union: APYs: 5.00% (1 year); 4.20% (3 years); 3.90% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Self-Help Credit Union: APYs: 4.71% (1 year); 4.08% (3 years); 4.08% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Competitive rates but restrictive membership:
Navy Federal Credit Union: APYs: 5.05% (1 year); 4.00% (3 years); 3.80% (5 years); Term range: 3 months - 7 years; Minimum to open: $1,000.
SchoolsFirst Federal Credit Union: APYs: 4.45% (1 year); 4.45% (3 years); 4.60% (5 years); Term range: 1 month - 5 years; Minimum to open: $500.
America First Credit Union: APYs: 5.15% (1 year); 4.35% (3 years); 4.20% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Community First Credit Union of Florida: APYs: 4.29% (1 year); 4.14% (3 years); 4.09% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Delta Community Credit Union: APYs: 5.15% (1 year); 4.00% (3 years); 4.00% (5 years); Term range: 6 months - 5 years; Minimum to open: $1,000.
Last updated on January 26, 2024
Methodology
We took a close look at some of the nation's largest credit unions, based on deposits as well as broad-based membership requirements, in addition to other notable credit unions in the industry.
Financial institutions and providers surveyed are: Alliant Credit Union, America First Credit Union, Andrews Federal Credit Union, Bethpage Federal Credit Union, Boeing Employees Credit Union, Community First Credit Union of Florida, Connexus Credit Union, Consumers Credit Union, Delta Community Credit Union, First Tech Federal Credit Union, Global Credit Union, Golden 1 Credit Union, Hope Credit Union, Lake Michigan Credit Union, Navy Federal Credit Union, Pentagon Federal Credit Union, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, State Employees’ Credit Union of North Carolina, Suncoast Credit Union.
To recap our selections...
NerdWallet's Best Credit Union CD Rates 2024
- Connexus Credit Union Certificate: Best for Easy to join
- PenFed Credit Union Money Market Certificate: Best for Easy to join
- Navy Federal Credit Union Standard Certificate: Best for Competitive rates but restrictive membership
- SchoolsFirst FCU Certificate: Best for Competitive rates but restrictive membership
- Alliant Credit Union Certificate: Best for Easy to join
- Self-Help Credit Union Term Certificate: Best for Easy to join
- Andrews Federal Credit Union Fixed Rate Share Certificates: Best for Easy to join
- America First Credit Union Certificate: Best for Competitive rates but restrictive membership
- Community First Credit Union CD: Best for Competitive rates but restrictive membership
- Delta Community Credit Union CD: Best for Competitive rates but restrictive membership
Frequently asked questions
Here are some important ones:
What banks call interest, credit unions call dividends.
What banks call certificates of deposit or CDs, most credit unions call share certificates or just certificates.
What banks call savings accounts, credit unions may call share accounts.
What banks call customers, credit unions call members.
A credit union tends to be more driven to help a particular community, whether that’s based on geography or another commonality, such as being in the military. As part of that, customer service can be better at a credit union. You may also find higher rates and lower fees than what you find at banks.
A main pro of some credit union CDs is how competitive the rates are, compared with top yields at online banks and traditional banks. And opening minimums tend to be fairly low.
» COMPARE: Best credit unions
A main con is that credit unions have different membership requirements and you might not be able to join the one you want. Some require you to belong to a certain state or work for a certain employer, while others with more inclusive membership may require you to join an affiliated nonprofit organization for a low one-time membership fee, such as $5.
Membership requirements determine eligibility, but just as with banks, even eligible applicants may not be approved. (If you’ve been denied a bank account, learn more about how banks can block former customers.)
