Best Credit Union CD Rates Of April 2024 (2024)

USAlliance’s 11-Month Special Certificate offers a generous interest rate without the risk of an early withdrawal penalty. It’s a good option for short-term savers looking to lock in a high interest rate without the typical restrictions of a CD.

With this no-penalty certificate, you can withdraw your balance at any time starting seven days after opening. But partial withdrawals aren’t allowed. So if you need to dip into your balance before maturity, you’ll be forced to withdraw the full amount and close your account.

You can bank via the USAlliance website, mobile app or at a branch.

This CD allows for penalty-free withdrawal of your principal after the first seven calendar days of opening an account. But partial early withdrawals are not allowed—you either withdraw the entire balance or nothing at all. Though USAlliance won’t charge a penalty if you make an early withdrawal, it will close the account if you take money out before the maturity date. Certificates automatically renew unless scheduled for redemption at maturity.

Because USAlliance is a credit union, you’ll have to qualify to join. If you’re not eligible for membership by association, employer or location, you can qualify by joining one of the credit union’s partner associations for free during the application process.

While some credit unions reserve their best rates for promotional certificates only, Digital Federal Credit Union (DCU) has competitive rates across the board.

Its regular certificates have terms ranging from three months to five years and earn 3.46% to 4.86% APY. All you need is a $500 opening deposit.

While your DCU regular certificate is active, you can either leave the interest inside and let it grow, or you can transfer it to an external account to use immediately. The credit union also offers the Digital Federal Credit Union Quickstart Certificates , which have the same interest rates but require only a $100 minimum deposit.

There are several ways to qualify for a DCU membership. If you’re not eligible for a DCU membership by community or company, you can join by becoming a member of one of its partner charities, like Reach Out for Schools ($10 membership).

Credit union certificates earn dividends rather than interest. Dividends compound daily and are credited monthly. Early withdrawal penalties are equal to 60 days to 180 days of interest, depending on the term. You have a five-day grace period after maturity to withdraw funds or adjust your CD’s term before it renews.

With Digital Federal Credit Union (DCU)’s Jump-Up Certificate, you can request a rate increase one time during your term. So if rates are on the rise, you can open this account without worrying about missing out.

DCU’s Jump-Up Regular Certificates have a $500 minimum balance. You can earn 4.34% on a 27-month term or 4.24% on a 15-month term.

For those with more savings, you can lock in a higher interest rate by opening one of the Digital Federal Credit Union Jumbo Jump-Up Certificates. It pays 5.39% for a 27-month CD and 4.50% for a 15-month CD. The minimum opening deposit is $25,000, which is low considering most jumbo CDs require at least $100,000.

Similar to DCU’s other certificate options, you can leave your earned interest inside your account and let it grow, or you can transfer it out and use it before maturity.

There are several ways to qualify for a DCU membership. If you’re not eligible for a DCU membership based on your community or company, you can join by becoming a member of one of the credit union’s partner charities, like Reach Out for Schools ($10 membership).

Credit union certificates earn dividends rather than interest. Dividends compound daily and are credited monthly. Early withdrawal penalties are equal to 90 days of interest for 15- and 27-month Jump-Up Certificates. You have a five-day grace period after maturity to withdraw funds or adjust your CD’s term before it renews

Michigan State University Federal Credit Union has a variety of certificates with terms ranging from three months to five years. Interest rates are competitive across all terms, starting at 3.25% for a three-month certificate and going up to 4.50% for an 18-month Michigan State University Federal Credit Union Jumbo Certificate.

Regular MSU Federal certificates have a $500 minimum deposit. Jumbo certificates require a $100,000 minimum deposit and earn slightly more interest than regular certificates with the same term.

MSU also provides members with a one-year Michigan State University Federal Credit Union Add-On Certificate option, which allows you to open an account with $50 and deposit up to $10,000 throughout the term.

Membership at MSU Federal Credit Union is open to the Michigan State University community, residents and workers in select Michigan counties and immediate family members of existing members. If you fall outside these requirements, you can join by making a $10 donation to MSUFCU’s partner charity, the Desk Drawer Fund.

Credit union certificates earn dividends rather than interest. Dividends compound monthly and are credited monthly. Early withdrawal penalties are equal to 90 to 365 days’ interest, depending on the term. You have a seven-day grace period after maturity to withdraw funds or adjust your CD’s term before it renews.

State Department Federal Credit Union has several certificate options: Share Certificates with six- to 60-month terms, the State Department Federal Credit Union Bump Up Certificates with 17-, 30- and 45-month terms and the State Department Federal Credit Union Jumbo Certificate with six- to 45-month terms.

Opening deposit amounts start at $500 for Share and Bump-Up Certificates and $100,000 for Jumbo Certificates.

While rates are competitive across all terms, interest compounds quarterly instead of daily, which means your balance won’t grow as fast as it would with other certificates that compound interest more frequently.

There are several ways to qualify for an SDFCU membership. If you’re not a Department of State employee, a family member of a current SDFCU member or part of an affiliate organization, you can join by becoming a member of the American Consumer Council.

Credit union certificates earn dividends rather than interest. Dividends compound quarterly and are credited quarterly or at maturity for terms shorter than 12 months. Early withdrawal penalties are equal to 30 to 360 days’ interest, depending on the term.

SDFCU certificates do not have a grace period. Instead, you choose on your application what you’d like SDFCU to do with your certificate at maturity—transfer it to a regular share savings account, a share checking account or a money management account, or renew it for another term.