Best Credit Union CD Rates for September 2023 — Up To 7.19%

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Credit unions often provide lower fees and higher interest rates than traditional banks since they are membership-driven, nonprofit organizations. If you’re wondering where to find the highest CD rates, here’s a look at some of the credit union CD rates available in September 2023.

Best Credit Union CD Rates for September 2023

Credit Union APY Terms Minimum Deposit
Alpena Alcona Area Credit Union 7 months $500
RadiFi Credit Union 6 months $500
American Eagle Financial Credit Union 6 months $500
Connexus Credit Union 12 months $100,000
Local Government Federal Credit Union 18 months $250
First Commonwealth Federal Credit Union 6, 12, 18 months $500
America First Credit Union 6-11 months $500
Alliant Credit Union 12 months $75,000

Make sure to read the fine print carefully so you are aware of early withdrawal fees or penalties, as well as promotional annual percentage yields. In general, CDs with longer terms deliver the highest rates since your money is tied up longer, but that’s not always the case. Be open to promotional offers for 12-month CDs, which sometimes exceed the rates for CDs with 18-month or longer terms.

GOBankingRates did some of the legwork for you to find the best credit union CD rates for September 2023. Also, don’t be confused; credit unions call CDs “certificates” rather than CDs, which is short for “certificates of deposit.”

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Alpena Alcona Area Credit Union

GOBankingRates’ research found that Alpena Alcona Area Credit Union offers the highest certificate rate in the nation for September 2023, with a APY on a seven-month certificate with just a $500 minimum deposit required.

Membership in the credit union is available to virtually anyone in the state of Michigan, along with their immediate family members.

RadiFi Credit Union

RadiFi Credit Union is currently offering a six-month certificate special with a generous APY with a $500 minimum deposit. The deposit must be new money, and not transferred from an existing RadiFi account. Certificates are available for up to $15,000.

To join RadiFi, you must live, work, worship or attend school in one of five counties in northeast Florida: Duval, Clay, Nassau, Baker or St. Johns.

American Eagle Financial Credit Union

American Eagle Financial Credit Union is offering a six-month certificate at APY with a $500 minimum deposit.

The credit union is open to those who live, work, worship or attend school in the Connecticut counties of Hartford, Middlesex, Tolland or New Haven, or in Hampden County, Massachusetts.

Connexus Credit Union

Connexus offers a APY on a 12-month jumbo certificate. Keep in mind you’ll need a $100,000 minimum deposit, with penalties for early withdrawal. However, this makes the certificate perfect for long-term savings goals such as buying a house. A regular 12-month certificate, with a $5,000 minimum deposit, offers a hefty APY.

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To join Connexus, you must live or work in one of the eligible Midwest counties, which include nearly 50 areas spanning Illinois, Minnesota, Ohio and Wisconsin. Alternatively, you can work, go to school or be an alumnus at one of the qualifying organizations listed on the website. If you don’t meet these criteria, you can still join by making a one-time $5 donation to the Connexus Association.

Local Government Federal Credit Union

If you plan to stash your savings away a little longer, consider a certificate from Local Government Federal Credit Union. LGFCU offers an 18-month certificate with a APY and just a $250 minimum opening deposit.

North Carolina local government employees or volunteers and their spouses or other family members are eligible to join the credit union. In addition to your minimum deposit for the certificate, you’ll need an opening deposit of $25 for a Share Savings Account, required as part of your membership.

First Commonwealth Federal Credit Union

First Commonwealth Federal Credit Union offers six-, 12- and 18-month certificate specials with a APY, with a $500 minimum opening balance. You can open a certificate of up to $2,500 online; otherwise, you must visit a branch.

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Based in Lehigh Valley, Pennsylvania, First Commonwealth Credit Union is open to residents of Lehigh County and surrounding regions, including Easton and Northampton counties, Maxatawny Township, Lehighton Borough, and even Warren County, New Jersey. You can also join if you are employed by an employer partner or one of their immediate family members, or if you join the American Consumer Council. Many residents of New Jersey and Pennsylvania are eligible to join.

America First Credit Union

If you’re looking for a shorter term with a high yield, consider the six- to 11-month certificate from America First Credit Union, delivering a APY. Best of all, you only need an opening deposit of $500 to get started. If you want to save your money a little longer, you can opt for a 12- to 17-month certificate with an APY of 5.25%.

America First membership is open to residents of many counties in the Southwest and Pacific Northwest, encompassing Utah, Nevada, Arizona, Idaho, Oregon and New Mexico, as well as workers in the food industry in Utah and members of select employer groups affiliated with the credit union.

Alliant Credit Union

Alliant is offering a 12-month jumbo certificate with a APY. That’s the good news. The challenge is that a jumbo certificate requires a $75,000 minimum deposit. However, the regular 12-month certificate yield isn’t too shabby at APY with just a $1,000 minimum deposit.

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With terms from 12 to 60 months, and a 0.05% bump for a jumbo certificate, Alliant is a solid choice to grow your money. Best of all, you can become a member just by opening a CD, which makes this credit union open to virtually anyone with the minimum deposit in hand. Alliant is a digital credit union, which helps keep costs down and yields up.

How To Choose a Credit Union CD

When you’re choosing a credit union CD, your first consideration will be CD rates. You’re looking for the highest APY you can find. However, there are other factors to keep in mind, as well.

Minimum Deposit

First, make sure you have enough money to open the CD. Check the minimum deposit to open.

CD Terms

Second, decide on the terms you want. Most CDs have early withdrawal penalties that are difficult to avoid if you need to access your cash before the CD matures. So, unless you know you won’t need the money, it’s better to choose a shorter term with the ability to roll that CD into a second CD when it matures.

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Today’s credit unions often have broad requirements that enable virtually anyone to become a member. You may have to pay a small fee or make a donation to an affiliated organization. Read the membership requirements to determine if you are able, and willing, to meet them.

Other Services

If you open a CD with a credit union and pay the membership dues, you may be interested in taking advantage of the credit union’s other services, too.

Does the credit union offer checking and savings accounts, credit cards and other loans, a vast ATM network, and other features consumers come to expect from banks today? Are there fees associated with the services? Does the credit union have an intuitive mobile app? These are all questions you might want to ask before opening a CD.

It’s also important to note that all credit unions should insure your money up to $250,000 per account holder, per account type, through the National Credit Union Administration. The NCUA functions for credit unions the same way the Federal Deposit Insurance Corp. does for banks, protecting depositors’ money in the event the financial institution fails.

How To Find the Best Credit Union CD Rates

Refer to the chart above for the best credit union CD rates of September 2023. Since many credit unions are regional, you might also check the websites, stop into a branch, or call credit unions near you to find certificate rates at credit unions where you may qualify for membership.

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What To Consider When Opening a Credit Union CD

When you open a credit union CD, consider how long you are willing to tie up your money. Since most credit unions have early withdrawal penalties or fees, you want to be able to commit to keeping your money in the CD for the full term.

You might also look for options such as CD ladders so that you can time the maturity rates of CDs for better returns. Also ask if you can automatically roll your CD over to extend the term at the same or higher interest rate.

Final Note

CDs and certificates can be an important aspect of money management to keep your funds protected in a federally insured institution while enabling it to grow thanks to the power of compounding interest.


  • What credit union is paying the highest CD rates?
    • GOBankingRates' research revealed that Alpena Alcona Area Credit Union, open to people who live, work, worship or go to school in Michigan, is offering an inflation-busting certificate rate of 7.19% APY on a seven-month CD with a $500 minimum deposit.
    • RadiFi and American Eagle Financial credit unions are not far behind, with 6.00% APY on six-month certificates.
  •  Where can I get 7% interest on my money?
    • You can open a seven-month CD with a minimum deposit of $500 and an APY of 7.19%, with dividends compounded and credited quarterly, at Alpena Alcona Area Credit Union. Membership is open to virtually anyone in the state of Michigan.
  • Can you get 6% on a CD?
    • You can earn 6.00% APY on six-month certificates at RadiFi and American Eagle Financial credit unions. In September 2023, GOBankingRates did not find any banks offering 6% CD rates.
  • What bank has the highest CD rate right now?
    • If you'd prefer not to take advantage of all a credit union offers, or you can't find one where you can qualify for membership, you can still find high CD rates at traditional banks and online financial institutions.
    • Forbright Bank offers 5.65% APY on a 12-month CD with a $1,000 minimum deposit, which is one of the highest APYs GOBankingRates found on CDs from online or traditional banks.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 18, 2023.

GOBankingRates is a personal finance and consumer interest rate website and an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of GOBankingRates, which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

GOBankingRates bases its assessment of “best” and “top” products on the above-stated parameters to create a baseline for comparison. This assessment is an approximation of “best” and “top” designed to help consumers find products that might be appropriate for them. There could be other options available as well. Consumers should consider various options appropriate for their circumstances.


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