2013 Report: Best Interest Rates in Texas

Posted in Banking , Best Interest Rates • February 19, 2013

texas credit unionEverything is bigger in Texas, and according to Go Banking Rates’ latest installment of its ongoing local rates studies, this statement is very accurate when it comes to interest rates. The study compares average Texas deposit account rates with other U.S. states to find out how Texas measures up. We also highligh the top 10 credit unions and banks in Texas offering the best rates presently.

The new study on Texas credit union and bank interest rates finds institutions in Texas offer some of the highest CD and savings account rates in the country, with all average rates in the state exceeding the national average in every category evaluated.

 

Deposit Account National Averages

Account Type Average Rate
6-Month CD 0.30% APY
1-Year CD 0.45% APY
2-Year CD 0.67% APY
Savings Account 0.21% APY

Texas Interest Rate Averages

Account Type Average Rate
6-Month CD 0.39% APY
1-Year CD 0.56% APY
2-Year CD 0.79% APY
Savings Account 0.27% APY

Ranking: Texas Rates Vs. U.S. States and Washington, D.C.

  • 6-Month CD: 7th
  • 1-Year CD: 5th
  • 2-Year CD: 8th
  • Savings Account: 7th

Top Texas CD Rates

banks in texas

Institution 6-Month CD Rate
Intercorp Credit Union 0.95
Cen Tex Manufacturing Credit Union 1.00
Citizens State Bank Buffalo, TX 1.00
Laredo Fire Department Federal Credit Union 1.00
Member Preferred Credit Union 1.00
Texar Credit Union 1.00
Fayetteville Bank 1.01
Houston Police Credit Union 1.04
Gulf Coast Federal Credit Union 1.10
Navy Army Credit Union 1.10

texas banks

Institution 1-Year CD Rate
Intercorp Credit Union 1.25
Cen Tex Manufacturing Credit Union 1.26
Corpus Christi S.P. Credit Union 1.26
County & Municipal Employees Credit Union 1.26
Fayetteville Bank 1.26
Laredo Fire Department Federal Credit Union 1.26
Member Preferred Credit Union 1.26
Houston Police Credit Union 1.27
Navy Army Credit Union 1.35
Gulf Coast Federal Credit Union 1.50

credit unions in texas

Institution 2-Year CD Rate
Coastal Community And Teachers Credit Union 1.34
Corpus Christi City Employees Credit Union 1.36
Red River Employees Credit Union 1.46
Express-News Credit Union 1.50
County & Municipal Employees Credit Union 1.51
Laredo Fire Department Federal Credit Union 1.51
Member Preferred Credit Union 1.51
Navy Army Credit Union 1.75
Gulf Coast Federal Credit Union 1.85
Texar Credit Union 1.85

Best Texas Savings Account Rates

texas credit unions

Institution Savings Rate
American Express Bank FSB, Member FDIC 0.90
Ellis County Teachers And Employees Credit Union 0.90
Citizens State Bank Buffalo, TX 0.93
Gulf Coast Federal Credit Union 0.95
Everman Parkway Credit Union 1.00
Corps Of Engineers Credit Union 1.01
Morris Sheppard Texarkana Federal Credit Union 1.21
Bivins Federal Credit Union 1.26
Houston Police Credit Union 2.02
Pioneer Muslim Federal Credit Union 3.03

About This Texas Interest Rates Study

Interest rate data gathered for this study was pulled from Go Banking Rates’ database of over 4,000 U.S. banks and credit unions. Local institutions, including those with branches exclusively in the state, within a select geography that includes the state, or that are headquartered in Texas were considered for the study. No national banks or online banks were included in the study.

Rates are accurate as of January 31, 2013, based on the interest rates published on institutions’ websites and assuming a $10,000 deposit. Before opening an account with any financial institution listed above, it’s important to first verify rates directly with the bank or credit union, as rates can change.

(Image: Blue Print Prep)

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Best Banking Rates

Institution
Featured Rate (APY)
0.95%
Savings
0.95%
Savings
0.95%
Savings
Institution
Best Rate (APY)
Alabama Telco Credit Union
3.00%
Savings
Pioneer Mutual Federal Credit Union
2.75%
Savings
Free, all-inclusive, and truly local: GoBankingRates.com is the only source for interest rates from over 5000 banks and credit unions
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