Best 1-Year Credit Union CD Rates

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Conventional wisdom holds that the longer the term for a CD, the higher the interest rate. The theory is that you can earn more with a longer term, but you’ll tie up your cash longer as a trade-off. But it’s not always true that longer-term CDs earn the highest yields.

With the U.S. Federal Reserve dropping interest rates last September, banks and credit unions don’t necessarily want to entice you to lock in today’s rates; the financial institutions are gambling that the Fed will drop rates again in the near future.

If you compare the best CD rates across the board, you’ll find some of the higher APYs with 12-month CDs. The same holds true for credit union CD rates. Here’s a comparison of some of the highest credit union 1-year certificate rates you can find right now.

Local Government Federal Credit Union

LGFCU is open to volunteers, employees or retirees, and the family members of North Carolina’s local government services and departments.

  • Rate:
  • Minimum deposit: $250
  • Fees: Early withdrawal penalty is the lesser of 90 days’ dividend or actual dividends earned

Alpena Alcona Credit Union

Anyone who lives, works, owns real estate, attends school, or worships in the state of Michigan can joint Alpena Alcona Credit Union with just a $5 deposit.

  • Rate:
  • Minimum deposit: $500
  • Fees: Early withdrawal penalties

Delta Community Credit Union

Initially established as a credit union for Delta Air Lines employees, membership in Delta Community Credit Union is open to residents of select counties in Georgia; current, former, and retired employees of specific businesses; members of certain trade organizations; Delta Air Lines employees living in the U.S. or abroad in select countries; and family members of Delta Community Credit Union members.

  • Rate:
  • Minimum deposit: $1,000
  • Fees: Early withdrawal penalties of 90 days of interest for a 12-month certificate

Suncoast Credit Union

Suncoast Credit Union, based in Tampa, Florida, is open to anyone who lives, works, attends school or worships in specific Florida counties, as well as their family members.

  • Rate:
  • Minimum deposit: $100,000
  • Fees: Early withdrawal penalties of 90 days of dividends for a 12-month certificate

Navy Federal Credit Union

Despite its name, Navy Federal Credit Union is open to all members and veterans of the U.S. Armed Forces or National Guard, and civilian members of the Department of Defense, as well as their family and household members.

  • Rate: to
  • Minimum deposit: $50 (for an EasyStart Certificate)
  • Fees: Early withdrawal penalties

State Employees Credit Union

State Employees Credit Union is the second-largest credit union in the U.S. with 2.8 million members. Based in North Carolina, SECU is open to employees and retirees of the State of North Carolina and its related entities, including federal employees assigned to North Carolina state agencies, and eligible members’ families.  

  • Rate:
  • Minimum deposit: $250
  • Fees: Early withdrawal penalties of the lesser 90 days interest or all interest earned

Connexus Credit Union

Connexus Credit Union is open to virtually anyone willing to make a $5 one-time donation to the Connexus Association. Household members can join with no additional donation. Employees, retirees, students, alumni and members of select businesses and organizations, along with their household members, can also join with no fee. Finally, residents of select communities and counties in Illinois, Minnesota, Ohio and Wisconsin can join with no fee.

  • Rate: for the jumbo certificate
  • Minimum deposit: $100,000
  • Fees: Early withdrawal penalty of 90 days dividends on the amount withdrawn

Alliant Credit Union 

Alliant Credit Union is an online-only credit union open to virtually anyone in the U.S. and non-U.S. residents with a Social Security Number or ITIN. You can join by making a one-time $5 donation to the Alliant Credit Union Foundation. You may be eligible to join without a financial contribution if you work for are retired from one of Alliant’s partners or live in a community surrounding Alliant’s Chicago headquarters.

  • Rate: for the jumbo certificate
  • Minimum deposit: $75,000
  • Fees: Early withdrawal penalties of up to 90 days of dividends

Randolph-Brooks Federal Credit Union

Based in San Antonio, Texas, RBFCU is open to residents, employees, retirees, students, volunteers, or those who worship in the communities that the credit union serves.

  • Rate: Up to
  • Minimum deposit: $1,000; $75,000 to receive the highest rate
  • Fees: Early withdrawal fees may apply

Boeing Employees Federal Credit Union

Boeing Employees Federal Credit Union, known as BECU, is not just open to Boeing employees. If you live, work, or go to school in Washington state, you can join. Additionally, people in specific counties of Oregon, Idaho, or South Carolina can join. Employees or those with an affiliation to Boeing and other BECU partners are also eligible for membership.

  • Rate: Up to
  • Minimum deposit: $500
  • Fees: Early withdrawal penalties

First Technology Federal Credit Union

Known as the credit union for people in tech, First Tech is open to employees and their family members who work for one of more than 900 partner technology companies, including Amazon or Microsoft. People who live and work in Lane County, Oregon, or work for the state of Oregon also qualify. Virtually anyone can become a member by joining the Financial Fitness Association or the Computer History Museum.

  • Rate:
  • Minimum deposit: $500
  • Fees: Early withdrawal fees apply after the 10-day grace period, equal to 180 days of simple dividends

Bethpage Federal Credit Union

Based on Long Island, New York, Bethpage Federal Credit Union was initially founded as the Grumman Employees Federal Credit Union. Today, it is known as Bethpage Federal Credit Union and membership is open to virtually anyone nationwide by making a $5 deposit into a Bethpage Federal Credit Union savings account.

  • Rate:
  • Minimum deposit: $50
  • Fees: Early withdrawal penalties equal to 90 days of dividends on the principal withdrawn

Navigant Credit Union

With more than 25 branches across Rhode Island, Navigant Credit Union is open to virtually everyone willing to make a $10 savings deposit with the bank.

  • Rate:
  • Minimum deposit: $500
  • Fees: Early withdrawal fees

FAQ

  • What credit union is paying the highest CD rates?
    • Local Government Federal Credit Union in Raleigh, NC, is paying 4.70% APY for a 12-month CD with a $250 minimum deposit.
  • Is anyone paying 5% on CDs?
    • The highest available CD currently is found at Bask Bank, with a 3-month CD offering 4.25% APY.
  • What is the highest-yielding CD right now?
    • Following the U.S. Federal Reserve's interest rate drop in September 2024, it has been challenging to find CDs with yields over 5%. You can find APYs close to that, however. Bask Bank is also offering a 4.25% APY for its 3-month CD.
  • Can you get 6% on a CD?
    • Currently no banks or credit unions are offering 6% APY on a CD or share certificate.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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