APY GUY: Maximize Your Savings & Earnings

Lauren Graves

Delta Community Credit Union CD Rates – Up to 1.10% APY


image credit: deltacommunitycu.com

Delta Community Credit Union was founded in 1940 as a credit union for people working for Delta Air Lines. Today, many Delta employees are still members, but membership has been expanded to select members of the general population and residents of Georgia. There are over 430,000 members of Delta Community Credit Union today.

This credit union offers fairly competitive rates on various deposit accounts with a few more benefits—like ATM cards for MMAs and the option to add teens as joint owners—than you’ll find at other banks and credit unions.

Because this is a credit union, you need to become a member in order to open an account and access these rates. You are eligible to join if you live in a qualifying Georgia community, are currently or formerly employed by a partner corporation (e.g. UPS, PetSmart, Enterprise, Delta Air Lines, etc.), are a member of a partner association, or are related to someone who is a member of Delta Community. View the complete list of membership eligibility requirements. You can manage your accounts online through the online banking portal, in-person at a branch in Georgia, or some combination of both.

Keep reading for our complete review of Delta Community Credit Union deposit products.

Delta Community Credit Union CD Rates + Account Details

This credit union offers standard CDs with terms ranging from 6 to 60 months. A minimum deposit of $1,000 is required to open a CD.

CD Rates

Term LengthInterest RateAPY
6 months0.45%0.45%
12 months0.61%0.62%
24 months0.74%0.75%
36 months0.89%0.90%
60 months1.09%1.10%

To put these yields in perspective, the current national average for 12 and 60 month CDs sit at 0.31% and 0.57% APY, respectively, according to recent FDIC data.

Delta Community Credit Union beats that and many big traditional banks, but these rates aren’t fantastic when you compare them to many digital banks.

Compounding and Crediting Interest

Interest compounds monthly and can be credited to the original certificate or to another checking or savings account (even an MMA). You can specify where you want your earnings to be deposited when you open the account or any time after by contacting the credit union.

This certificate of deposit account is more flexible than most. Delta Community Credit Union permits users to add money to their CD accounts after opening, which is not typical of certificate accounts, without penalty. Users are also able to add joint owners and beneficiaries to this account at any time after opening it. Minors are eligible to be added as joint owners.

All CDs are insured through the NCUA. Delta Community does not offer fixed-rate, specialty, bump-up, or other non-traditional CDs.

Early Withdrawal Penalties

Delta Community has changed its early withdrawal policy since 2017, so CDs opened/renewed before May 2017 incur different early withdrawal penalties than CDs opened later.

Here are the rules for CDs opened or renewed before May 1st, 2017:

  • Early withdrawals from terms of six months incur a penalty fee equal to 31 days’ interest
  • Early withdrawals from terms of 12 or 24 months incur a penalty fee equal to 90 days’ interest
  • Early withdrawals from terms of 36 of 60 months incur a penalty fee equal to 180 days’ interest

And the rules for CDs opened or renewed after May 1st, 2017:

  • Early withdrawals from terms of 6 months incur a penalty fee equal to 60 days’ interest
  • Early withdrawals from terms of 12 months incur a penalty fee equal to 90 days’ interest
  • Early withdrawals from terms of 24 or 36 months incur a penalty fee equal to 180 days’ interest
  • Early withdrawals from terms of 60 months incur a penalty fee equal to 270 days’ interest

The current fees are still actually lower than average.

Grace Period

Delta Community Credit Union provides a standard 10-day grace period to withdraw funds from a certificate account upon maturity without penalty. Partial withdrawals are not permitted. The grace period starts the day after your CD reaches maturity. You will be notified 30 days in advance of when your CD is set to mature.

You can specify whether you’d like your account to automatically renew upon maturity or the funds deposited into another account at any time between opening the account and the grace period begins.

Delta Community Credit Union Savings Accounts

There are a number of different savings accounts available through Delta Community: Personal Savings, Youth Savings, IRA Savings, Education Savings, and Health Savings.

Personal Savings Account

The Personal Savings account earns interest at a rate of 0.08%. There are currently no balance tiers, so that’s as good as it gets. This interest rate is only slightly better than the national average rate for a savings account, which sits at 0.06%. It is not hard to find a savings account that pays better than what Delta Community is offering, but you at least don’t need a large balance to earn interest.

You can open this account with as little as $5 and you will earn the 0.08% interest rate as long as you have a positive balance in your account.

The Personal Savings account can be opened by an adult on behalf of a minor as well. The minor must be related to a member by birth, marriage, or adoption.

Once you have opened a Personal Savings account, you have the option of opening one or more Additional Savings accounts for different savings purposes. These accounts do not have minimum opening deposit requirements and earn the same interest rate as your Personal Savings account.

There is no monthly service fee or fee for low balances, but there are a few other fees. For example, you will be charged an inactivity fee of $5 every month if you do not make any transactions into or out of this account in six months. Every returned item will cost you $15 and every non-sufficient funds presentment will cost you $35.

Youth Savings Account

The Youth Savings account is available to children between the ages of 0 and 12. It earns the same interest rate as the Personal Savings account of 0.08% currently. Those younger than six are referred to as “Sandy Savers” and those between 7 and 12 years old are referred to as “Cool Cash Kids.” All new users receive a welcome package. 

A $5 membership deposit is required when you open this account, which you can do at any Delta Community Credit Union location. Any member of the credit union can open a savings account for a child, niece, grandchild, cousin, niece, or nephew.

HSA and Education Savings

An HSA at this credit union earns a rate of between 0.15% and 0.35%.

BalanceAPY
$0 – 9,999.990.22%
$10,000 – 24,999.990.27%
$25,000 – 49,999.990.35%
$50,000 – 99,999.990.40%
$100,000+0.45%

There is no minimum opening deposit or minimum monthly balance for an HSA.

This credit union also has a Coverdell Education Savings account to members with household incomes of less than $110,000. You can earn up to 0.35% interest on balances over $100,000.

Delta Community Credit Union Checking Accounts

Delta Community Credit Union offers a personal checking account that is available to adult members and teens (who are eligible to become joint account owners). This is technically an interest-bearing account, but the rate is so low this might as well be a traditional non-interest-bearing account.

BalanceInterest RateAPY
$0.01 – 4,999.990.00%0.00%
$5,000 – 24,999.990.01%0.01%
$25,000+0.02%0.02%

The national average for an interest checking account sits at just 0.03% APY, so these rates are actually worse than average (which isn’t something we see often) and definitely a lot worse than the best checking accounts out there.

There is no minimum opening deposit requirement or balance requirement to avoid fees. You are only eligible to receive interest on balances over $5,000. 

Interest is compounded and credited monthly to your checking account. 

You can enroll in Courtesy Pay (fees apply) to protect yourself from overdrafting on transactions up to $500. This service is optional.

This account comes with a Visa debit card that is eligible to earn up to one point on every $3 spent when you sign for qualifying transactions instead of using your PIN. You must enroll in Reward Points to access this feature.

Teens who are 16 or 17 years old are eligible to open this account with a member of the credit union as a joint account owner. They will have access to all the same features and benefits as well as the Visa Personal Debit Card.

Fees

This is a free account that doesn’t charge any maintenance or service fees, but you’ll want to avoid getting charged for the following:

  • Overdraft transfer from deposit account: $3
  • Overdraft transfer from credit account: $5
  • Non-sufficient funds: $35
  • Courtesy pay: $35
  • Domestic returned deposit item: $15

If your combined account balance across all deposit and borrowing accounts drops below $60 and you have not made transactions into or out of your account in six months, Delta might charge an inactivity fee.

Delta Community Credit Union Money Market Accounts

You can open a money market account with Delta Community Credit Union with $1,000.

BalanceInterest RateAPY
$1,000 – 9,999.990.15%0.22%
$10,000 – 24,999.990.22%0.27%
$25,000 – 49,999.990.27%0.35%
$50,000 – 99,999.990.30%0.40%
$100,000+0.35%0.45%

The national average rate for a money market account is currently sitting at 0.12%. These rates are pretty competitive, but they’re not the best ones out there right now. You can pretty easily find an account earning up to 0.50%. And because these accounts require a higher balance than average to earn interest, you should shop around a bit before choosing this one

Interest is compounded and credited monthly into the MMA. If you want it paid elsewhere, you can let a representative at the credit union know.

You need to maintain a balance of $1,000 in order to earn interest. Delta does not require a minimum opening deposit and does not charge service or maintenance fees.

This money market account comes with a free ATM card that can be used to make ATM withdrawals only, not POS transactions. You can make up to ten transactions per month with this account. This account can also be used to write checks, though these are not free.

There is also a business money market account available. You can make up to 25 transactions from this account per statement period not including your deposits.

BalanceInterest RateAPY
$0.01 – 24,999.990.23%0.23%
$25,000 – 99,999.990.28%0.28%
$100,000 – 999,9999.990.33%0.33%
$1m +0.35%0.35%

Any positive balance in a business MMAs earn interest, which is compounded and credited monthly.

All Delta money market accounts are federally insured by the NCUA up to $250,000.

Fifth Third Bank CD Rates 2022 – Are they worth it?


[📌 Update July 2022 – Fifth Third Bank has yet to raise the rates on their CDs in over two years. This comes as the FED continues to make historic prime rate hikes and while banks and credit unions are starting to lift their deposit account rates across the country. See Fifth Third Bank’s CD rates below.]

image credit: 53.com

Fifth Third Bank, headquartered in Cincinnati, Ohio, is the 15th largest bank in the country by asset size. With over six million customer accounts and locations in 10 different states, this bank has earned itself a reputation as a large regional bank with decent account options and good accessibility for those living in midwestern or southeastern states. 

Fifth Third Bank was born of numerous mergers through the years, the most notable of these taking place between Third National Bank and Fifth National Bank in 1908 (which is how The Bank of the Ohio Valley, founded in 1858, eventually came to be known as Fifth Third Bank).

Fifth Third Bank’s CD rates are unimpressive at the moment, so this bank probably won’t be a good choice for you if you’re after a high-yield certificate of deposit.

With that said, there are many deposit accounts offered through this institution, and one or more of them might be up your alley. Here’s a closer look at what Fifth Third Bank has available for its customers, who is eligible to join this bank, and any other account details you might need to know if you’re interested in becoming a member.

Fifth Third Bank CD Rates + Account Details

Please note that Fifth Third Bank certificates of deposit cannot be opened online currently. We cover how to open a Fifth Third Bank CD in the following section.

Fifth Third Bank claims CD rates vary by location, but at this time it appears that all Fifth Third Bank certificates of deposits, even promotional accounts, are earning the same (exceptionally low) rates regardless of zip code.

The same rates (shown below) were obtained running a few scenarios. First, using 45202, the zip code for Cincinnati, Ohio. Second, using 6007, the zip code for Elk Grove Village, IL right outside Chicago. And the third, using 27531, the zip code for Wake County, NC right outside Raleigh.

All Fifth Third Bank certificates of deposits are federally insured by the FDIC up to $250,000 per depositor or $500,000 on joint accounts.

CD Rates

TermAPY
7 – 89 days0.01%
3 – 6 months0.01%
6 – 12 months0.01%
12 – 24 months0.01%
24 – 36 months0.01%
36 – 48 months0.01%
48 – 60 months0.01%
60 – 84 months0.01%
84 + months0.01%

For context, the national average for a 12 month CD and a 60 month CD sit at 0.31% and 0.57% APY, respectively, according to FDIC data.

If you can get past the low rates you’ll find that the terms are flexible and unique in that they go all the way down to 7 days and all the way up to 84 months. In a normal interest rate environment these rates would be tiered by balance amount – with higher yields paid on higher balances. Today, however, rates remain the same across all balance amounts.

Fifth Third Bank requires a $500.00 minimum deposit to open a CD with a term of 3 months or more and a $5,000.00 minimum deposit to open a 7-89 Day CD or to open any promotional CD.

Promotional CD Rates

TermAPY
12 months0.05%

Fifth Third Bank often runs these CD promotions with competitive rates to draw in new customers. While this tactic has been quite successful for them in the past, their current CD promotions fall far behind the standard rates offered by online banks such as Discover or TIAA bank.

Compounding Interest

Interest is compounded continuously and credited monthly either back into your CD or to a Fifth Third checking or savings account. 

Grace Period and Early Withdrawal Penalties

The grace period for withdrawing or adding funds penalty-free at Fifth Third Bank is much shorter than usual on their short term CDs. That said, renewal upon maturity is not automatic unless you opt into this feature.

CDs with maturities shorter than 32 days have a grace period of just one day. For all other CDs it is ten days.

Early Withdrawal Penalties

  • Early withdrawal from a CD of 7 to 364 will cost you 1% of the principal withdrawn,
  • Early withdrawal from a CD of 365 days to 36 months will cost you 2% of the principal withdrawn,
  • and from a CD of 36 months or greater will cost you 3% of the principal withdrawn

How to Open a Fifth Third Bank CD

Anyone residing in one of the ten states in which Fifth Third operates AND is at least 18 years old with a valid form of identification can apply to join Fifth Third Bank and open a CD. These states are:

  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kentucky
  • Michigan
  • North Carolina
  • Ohio
  • Tennessee
  • West Virginia

As mentioned, many of Fifth Third Bank’s deposit accounts such as CDs cannot be opened online. To open any of their CDs, you will need to visit a Fifth Third Bank branch — there are over 1,123 — and speak with a banker.

Money Market Accounts

Fifth Third Bank offers a wide range of deposit account options outside of CDs, including traditional savings accounts, money market accounts and multiple types of checking accounts. These are all FDIC insured up to the maximum allowed limit of $250,000 per depositor or $500,000 for joint accounts.

Most Fifth Third Bank deposit accounts come with monthly maintenance fees, only some of which are avoidable, and almost all of which are $5 a month. These accounts have low minimum balance requirements and some have interest bonuses.

The Fifth Third Goal Setter Savings account is an interest-bearing account that is designed to help you set and reach savings goals. These goals can range anywhere from $500 to $25,000 each. You will receive a one-time interest bonus equal to the total amount the account has earned when you reach your first savings goal. Open this account for yourself or for your child. Fifth Third Bank mentions contacting them for current rates, however, we ran scenarios again in Ohio, Illinois and North Carolina and found the rate to sit at 0.01% APY.

A Fifth Third Relationship Saving account is almost identical to a Goal Setter savings account, except that it earns an APY of 0.02% instead of 0.01% on all balances. This also lets you make automatic transfers between your checking account and this account and can be used as a savings account for your children.

Fifth Third Relationship Money Market savings accounts offer tiered interest rates that are somewhat higher than the previously mentioned savings accounts. For every month you keep an eligible linked checking account, earn the higher relationship interest rate posted. No minimum opening deposit is required.

Standard + Relationship Money Market Rates

BalanceStandard APYRelationship APY
$0.01 – $9,9990.01%0.02%
$10k – $24,9990.01%0.02%
$25k – $49,9990.01%0.02%
$50k – $99,9990.01%0.02%
$100k – $249,9990.01%0.02%
$250k +0.01%0.02%

Other Fifth Third deposit products include 529 Savings and CD accounts, requiring a minimum opening deposit of $25 or $500, respectively, and able to be used only on college spending; Minor Savings accounts, simple accounts designed for those under the age of 18; Health Savings accounts.

Avoid the $5 monthly service fee on all of Fifth Third Bank’s savings accounts if:

  • you and all other account owners also have a Fifth Third Checking or Express Banking account,
  • you maintain an average daily balance of $500 or more,
  • the primary account owner is under the age of 18, or
  • you are enrolled in Fifth Third Military Banking.

This fee is automatically waived for all new Goal Setter Savings accounts for the first six months.

In compliance with Federal regulation, all savings accounts are limited to a total of six transactions per month. You will incur excessive withdrawal fees, determined by account type, for every time you exceed this.

If you open a Fifth Third Bank account with a debit card and ATM access, you’ll want to note that there are more than 50,000 surcharge-free ATMs (including Allpoint, Presto!, and 7-Eleven ATMs) across the country that are considered in-network to Fifth Third members.

Regions Bank CD Rates – Now up to 1.50% APY


[📌 Update July 2022 – Regions Bank Relationship CDs remain uncompetitive at this time, however, they have been adding some “Promotional” Relationship CDs to their deposit suite that now offer better yields. See all rates below.]

image credit: regions.com

Regions Bank​, headquartered in Alabama, is a sizable full-service financial institution serving customers across 15 U.S. states.

Although it is geographically limited, it is still the 23rd largest bank in the country by asset size.

Regions Bank is also a member of the S&P 500 with its $129 + billion in assets. This traditional, regional bank is available to anyone that lives in the following states:

  • Alabama,
  • Arkansas,
  • Florida,
  • Georgia,
  • Illinois,
  • Indiana,
  • Iowa,
  • Kentucky,
  • Louisiana,
  • Mississippi,
  • Missouri,
  • North Carolina,
  • South Carolina,
  • Tennessee, or
  • Texas.

Those that qualify for membership may choose to bank in-person at a branch, or digitally by enrolling in online banking.

Checking, savings, money market, and CD accounts are eligible for online banking.

Find out all there is to know below—from savings rates to disclosures—and what its members have to say about banking with Regions.

Regions Bank CD Rates + Account Details

Regions Bank offers “Relationship Rates” and Promotional Relationship Rates.” Their Relationship Rate CDs are not competitive at this time, however, their Promotional Relationship CDs are starting to nudge upwards.

For exact rates being offered near you, you’ll need to search the ​Regions CD rate search tool​. But here’s what you can ​most likely ​expect:

CD Rates Promotional Relationship

To qualify for a Promotional Relationship CD with Regions Bank, you must open your account with at least $10,000 and have and maintain a Regions checking account.

TermAPY
9 months1.01%
25 months1.35%
35 months1.50%

CD Rates Relationship

A minimum deposit of $2,500 is required for terms of 7 – 89 days and a minimum deposit of $500 is required for all other terms.

CD TermAPY
Less than 1 month0.01%
1 – 2 months0.01%
3 – 5 months0.01%
6 – 8 months0.03%
10 – 11 months0.03%
12 – 17 months0.03%
18 – 23 months0.05%
24 – 35 months0.05%
36 – 47 months0.05%
48 – 59 months0.05%
60 – 72 months0.05%

As you can see, there are plenty of CD terms to choose from at Regions Bank but the rates offered are very low unless you opt for a promotional CD. To give the offers (above) a little more context, the national average for 12 month and 60 month CDs sits at roughly 0.31% and 0.57% APY, respectively, according to FDIC data.

Compounding and Crediting Interest

Interest is compounded daily and paid monthly, quarterly, semi-annually, annually, or at maturity, depending on your term. If a certificate is 1 year or more, interest is credited quarterly back into it unless you’ve asked for these payments to be disbursed to another checking or savings account in which case you may choose the disbursement frequency.

Grace Period and Early Withdrawal Penalties

The grace period on a Regions Bank Time Deposit account is 10 days and early withdrawal fees will come with the following charges/fees:

  • For terms of 31 days or less, you will be charged all the interest your account would have earned;
  • for terms of 32 – 181 days, you will be charged 31 days’ interest;
  • for terms of 182 – 364 days, you will be charged 90 days’ interest;
  • and for terms of 365 or more, you will be charged 182 days’ interest.

Regions Savings Accounts + Money Market Account Details

All of Regions deposit accounts (both fixed rate and variable) are FDIC insured up to the legal limit of $250,000.

For a savings account option, you can choose from the LifeGreen account, the Regions Savings account, and the Now Savings account, but beware they are all providing a lower than average APY currently.

Savings Rates

Account NameMin DepositBalance to Avoid FeesAPY
LifeGreen Savings$50$500.01%
Regions Savings$50$3000.01%
Now Savings$10$100.01%
Money Market$100$2,5000.01%

Average savings account rates sit at roughly 0.10% APY nationally to give these offers some context.

Although the accounts pay practically nothing in interest, there are at least no maintenance fees (if you have a Regions checking account) and no minimum balance requirements to avoid closures or fees. This could make an account worthwhile, despite the low rates.

LifeGreen Savings Account Details

You’ll need to search rates by area to be sure what Regions Bank is offering in your location, but across several zip codes, 0.01% is what you’ll get on a LifeGreen Savings account regardless of your balance.

Now for some good news. This account also comes with a 1% annual savings bonus of up to $100. To nab this bonus rate, you’ll have to set up automatic monthly transfers of $10 or more from your Regions LifeGreen checking account into your savings account.

Regions Savings Account Details

A ​Regions Savings​ won’t do you any better in earnings as it also pays a rate of 0.01%. This account requires a minimum opening deposit of $50 and an average daily balance of $300. If your balance is below this, you’ll be charged a monthly low balance fee of $5. A Regions Savings account does not pay a savings bonus.

Regions Now Savings Account Details

Finally, there is the ​Regions Now Savings​ account, and this has an APY of—you guessed it—0.01%, but it’s a little more flexible than the last one. Requiring a minimum opening deposit of $10 and absent maintenance fees, this account is fairly easy to get. The only account opening requirement is that you have a ​Regions Now Card​, a reloadable Visa Prepaid Card.

Although you don’t ​need ​a Regions checking account to open a Now savings account, this savings account also comes with a 1% annual savings bonus of up to $100 if you set up monthly transfers from a checking account. And for every month that you make a deposit of at least $5 into this and don’t make any withdrawals, you’ll get a $1 bonus. A Now savings account is the only savings account mentioned so far that will always earn the same rate across all balances.

Dividends on all Regions savings accounts are compounded daily and paid monthly. Excessive withdrawals outside of the federally-enforced limit of 6 will cost you $3 each.

Regions Bank Money Market Account Details

If you’re looking for an alternative or addition to these standard savings accounts, Regions Bank also offers ​Money Market Accounts​ and ​Premium Money Market Accounts​. Right now, MMAs are earning 0.09% nationally and 0.01% at Regions Bank. Be on the lookout for promotional rates, but this is it for now. The only thing that this account does that a savings account doesn’t is provide you with the ability to write checks.

You can open either type of MMA with a deposit of $100, but a Money Market Account requires a minimum average daily balance of only $2,500 to avoid a $12 monthly maintenance fee while the Premium MMA requires $15,000 or a LifeGreen Preferred checking account (an interest-bearing checking account with high balance requirements) to avoid a $15 monthly maintenance fee. Excessive withdrawal from a money market account will cost you $15 a piece.

Regions Bank Fee Schedule

Depending on which actions you take with your Regions Bank account and how you move your money about, you may encounter fees from time to time.

Below is a complete list of potential fees and account limitations you may come across:

ActionFee/Limitation
Domestic Wire (inbound)$15
Domestic Wire (outbound)$30
Insufficient Funds Fee$36
Overdraft Fee$36
Monthly Service Charge$12
Is the Monthly Service Charge Avoidable?Yes
Permitted Monthly Withdrawals6
Max Number of Checks per Month6
Online BankingYes
Online Bill PayYes
Online StatementsYes

Banking Experience and Customer Sentiment

When you bank with Regions, you’ll have access to over 1,900 ATMs in the bank’s cross-state service area and branches. There are around 1,400 branch locations in 15 states, and you can use the site’s ​locator​ to see if there’s an ATM or branch location near you. Keep in mind that Regions will not reimburse out-of-network ATM charges.

Regions Bank users are mostly content with what this institution brings to the table. Out of ​1,800 customer reviews left on WalletHub​, Regions Bank pulled 4 stars, suggesting that the bank might provide a better banking experience than it does opportunities for significant savings growth.

The app for this bank is well-liked on Google Play with a rating of 4.2 stars and hated on the App Store with a rating of 2.3 stars.

It should be noted that the recently-updated Regions Bank website is rather poor. Though mostly comprehensive, the site is difficult to use and makes tracking down information excessively tedious. You’ll need to perform individual searches for rates on all accounts in your area and even important information such as ACH transfer limits, which aren’t listed because they “may vary by account.” Both sending and receiving daily and rolling transfer limits are determined on an individual basis, so you won’t know what yours are until you contact support at 1-800-472-2265 (the number for online banking support).

Regions Bank customer service can be reached in a variety of ways. The live chat feature on the bank’s website offers quick response times for simple questions, but a call to the customer service center at 1-800-734-4667 can also get you the help you need. If you have questions about Regions credit cards, mortgages, or loans, find the ​extension​ devoted to your inquiry topic. Tweet @askRegions to get support via social media or send a ​secure email through this form​.

BECU CD Rates – Now up to 1.06% APY!


image credit: becu.org

BECU, the Boeing Employees’ Credit Union, is the fourth largest credit union in the United States by asset size and has over one million members nationwide.

BECU’s origins date back to the great depression when a handful of Boeing employees were forced to purchase their own tools in order to do their jobs in 1935. Because many of them found it difficult to purchase the required tools, they founded a credit union to help each other obtain credit and manage their individual financial burdens.

While eligibility for BECU used to be restricted to Boeing employees, today, any Washington state resident can join along with those who live, work, or own a business in qualifying Oregon and Idaho counties.

BECU’s standard CD rates, while still above the national average, are nothing to write home about. However, the Member Advantage rates are a little better. You can learn more about BECU and its Member Advantage program here.

BECU CD Rates + Account Details

BECU CD accounts are federally insured by the NCUA (FDIC equivalent for credit unions) up to $250,000.

This credit union’s savings products are unique in that they offer dozens of different rates and terms. Joining the Member Advantage program will entitle you to better rates on deposits and savings.

The BECU ​Member Advantage​ program, an exclusive eligibility tier, rewards premium rates and other perks to qualifying members of the credit union for checking and savings accounts, and this includes certificates of deposit. If you are eligible for a Member Advantage checking or savings account, you will receive higher rates of return on CDs. If you are not, here are the rates you will earn. (For more information about how to qualify for Member Advantage, see “​About BECU Credit Union + Eligibility.”)

CD Rates (Without Member Advantage)

TermAPYAPY
Deposit Size$500 – $49,999$50k +
3 – 5 months0.05%0.05%
6 – 11 months0.15%0.20%
12 – 17 months0.25%0.30%
18 – 23 months0.30%0.35%
24 – 35 months0.35%0.40%
36 – 47 months0.40%0.45%
48 – 59 months0.45%0.50%
60 months0.50%0.55%

To put these CD rates in perspective, the current national average for a 12 month CD and a 60 month CD sit at just 025% APY and 0.48% APY, respectively, according to FDIC data.

Promotional CD Rates (without Member Advantage):

CD TermAPYAPY
Deposit Size$500 – $49,999$50k +
12 month Bump CD0.15%0.20%
24 month Bump CD0.25%0.25%

All BECU CDs require a minimum deposit of $500 except for the Add-to option. This type of CD can be opened with as little as $100 under any term but requires you to set up an automatic deposit schedule. The rate for whichever term you choose is fixed even as you continue to contribute funds to your certificate.

The 12 and 24 month bump CDs allow a one-time rate increase before maturity. That means that if you purchase a 12 month bump with a 0.45% APY and then APYs goes up to 0.55% within a year, you can have your account take on this higher APY for the rest of its life. People that purchase bump or bump-up CDs expect market rates to rise between the time of CD issuance and time of maturity and want to be able to take advantage of upward trends.

With Member Advantage, CD rates are higher across the board:

CD Rates (With Member Advantage)

CD TermAPYAPY
Deposit Size$500 – $49,999.99$50,000 +
3 – 5 months0.25%0.30%
6 – 11 months0.30%0.35%
12 – 17 months0.50%0.55%
18 – 23 months0.60%0.65%
24 – 35 months0.70%0.75%
36 – 47 months0.80%0.85%
48 – 59 months0.90%0.95%
60 months1.00%1.06%

Promotional CD Rates (With Member Advantage)

CD termAPYAPY
Deposit Size$500 – $49,999.99$50,000 +
12 month Bump CD0.45%0.50%
24 month Bump CD0.60%0.65%

Earl Withdrawal Penalties and Grace Period

Early withdrawals from terms up to and including 12 months are charged 30 days’ interest and terms greater than 12 months are charged 90 days’ interest. There is a renewal grace period of 7 days. If you act within this time period after your certificate matures, you can change the terms of your CD or withdraw funds without incurring fees.

BECU Money Market Rates + Account Details

Like certificates, BECU money market accounts accrue different interest rates for non-Member Advantage and Member Advantage accounts. If you have a Member Advantage checking or savings account, you will earn higher rates on your money market accounts.

Money Market Rates

BalanceAPYAPY
Member Advantage Y/NNoYes
$0 – 9,999.990.10%0.40%
$10k – 49,999.990.20%0.40%
$50k – 99,999.990.20%0.40%
$100,000 +0.10%0.40%

There is no monthly fee for money market accounts. You may make up to six transactions per month, but every withdrawal outside of this limit is charged a $20 excessive transaction fee.

Other Savings Accounts Offered by BECU

BECU has several other savings options, including a member share savings account, a regular savings account, a Member Advantage savings account, a health savings account, and an Early Saver account. Take a look at the rates for each of these account types.

  • Member Share Savings: 0.05% APY
  • Savings: 0.05% APY
  • Member Advantage Savings: 2.02% APY (up to $500)
  • Health Savings: 0.05% APY
  • Early Saver: 4.07% APY (up to $500)

A member share savings account establishes your membership with BECU, but it won’t come close to maximizing your returns. At 0.05% when the average is 0.07%, you’d be right to be unimpressed. However, the Member Advantage Savings gets you 4.07% on the first $500 you put into it before jumping down to 0.05%, so it’s clearly the better of the two options.

The Early Saver or youth savings account also pays a premium rate on the first $500. For this one, you’ll have to be between 13 and 18 years old and go into a branch with a parent or guardian (that is, of course, a BECU member) to open it.

There are no monthly minimum balance requirements and no maintenance fees for BECU savings accounts. In addition, ​online​ and mobile​ banking are completely free and there are over 30,000 surcharge-free ATMs you can use. The only fees you really have to watch out for are the excessive transaction fee and the non-sufficient funds fee of $25 per transaction.

About BECU + Eligibility

BECU membership is mostly based on geography or employment. To qualify, you must:

  1. Live in Washington state or a qualifying Oregon or Idaho county
  2. Work for BECU, Boeing, or a credit union (or be a family member of someone that does)
  3. Be associated with the University of Washington or Washington State University Alumni Association, the ​NW Credit Union Foundation​, or KEXP

For all qualifying counties, go ​here​.

There is one loophole you can try if you don’t qualify for membership, but it’s not going to appeal to everyone. To become a ​KEXP donor​, you must make a monthly donation of $10 or more or a one-time donation of $100 or more. KEXP is a Seattle-based public radio station. This will qualify you for membership with BECU, but you’ll have to decide what that’s worth to you.

To qualify for Member Advantage checking and savings accounts, all you have to do is sign up to receive monthly eStatements (as opposed to paper statements), make at least one free electronic transaction per month, and have a BECU checking and savings account.

BECU holds over $21.8 billion in assets and has over 1.2 million members. This financial cooperative has more than ​50 branch locations​ around Puget Sound, Seattle, Spokane, and South Carolina. It also participates in shared branching with over 3,500 other credit unions. There are more than 30,000 in-network ATMs across the country.

Final Thoughts

BECU is largely inaccessible for most US citizens, however, if you find you are eligible this is a highly rated credit union with a number of free accounts and an overall positive member experience and rating. That said, the savings rates offered – either through a money market, general savings, certificate of deposit, or otherwise – are quite low. Much better savings products can be found through online banks and other credit unions with a wider scope of eligibility.

Edward Jones CD Rates – Now Up to 3.35% APY!


image credit: edwardjones.com

Edward Jones is a brokerage firm you’ve probably heard of over the years as it nears almost a century in age.

Founded in 1922, Edward Jones scores surprisingly well in customer satisfaction—18 points over the industry average, according to a J.D. Power 2019 survey—and is known for being a largely reliable and professional company.

The current suite of brokered certificates of deposit offered through Edward Jones are, for the most part, less competitive than the current national average for their respective terms. Other than perhaps the 10 year CD currently offered through Edward Jones, higher yields can be found directly through online banks and credit unions.

Because Edward Jones is a brokerage firm and not an actual bank they don’t sell their own CDs. Instead, they ‘broker’ or re-sell a range of deposits from other banking institutions.

Are Edward Jones brokered deposits worth considering? Read our full review below.

Edward Jones CD Rates + Account Details

Other than the current trend of rising yields, brokered CDs have some additional noteworthy features.

For one, you can exit these CDs at any time by selling them through a secondary market which Edward Jones offers.

Second, you can spread your funds into multiple banks with Edward Jones as your broker.

CD Rates

CD TermAPY
3 months1.80%
6 months2.15%
9 months2.40%
1 year2.80%
18 months2.95%
2 years3.20%
30 months3.00%
3 years3.25%
4 years3.15%
5 years3.35%
7 yearsNA
10 yearsNA

All Edward Jones CDs require minimum opening deposits of $1,000. Please note that 7 year and 10 year CDs are not available at this time.

To give these offers some context, the current national average for a 12 month CD and a 60 month CD sit at 0.25% APY and 0.48% APY, respectively, according to recent FDIC data.

Edward Jones Brokered CDs Account Details

A few crucial distinctions must be made between standard CDs and Edward Jones’s brokered CDs.

The most important of these being that you do not open or manage brokered CDs yourself. On top of that, the actual CD isn’t technically a product of Edward Jones at all. Instead Edward Jones purchases a CD for you from one or many different banks in partnership with this firm.

You can open new CDs with Edward Jones or you can purchase secondary CDs.

If you open a new CD with Edward Jones you will not have to pay any commission fees. Edward Jones will receive a concession from the bank that takes your deposit, but this is already factored into the price.

If purchasing a CD on the secondary market, you will have to pay Edward Jones a commission just like you would purchasing stock. You can see what commission they take in the trade confirmation.

A benefit of Edward Jones brokered CDs is that they don’t have early withdrawal penalties. If you need to cash out of your deposit early you can simply sell it to another investor on the secondary market.

Unfortunately, this also means there is an inherent downside to these products in that their price fluctuates on the open market and can feasibly be sold for less than the purchase price.

For example, if you open a 5 year deposit and need the funds after year 2, during which time interest rates have risen considerably, you may have a tough time selling your deposit for your full purchase price.

Conversely, if you purchase a 5 year deposit and rates drop significantly (which they have) then you may find investors willing to offer a premium on your CD on the secondary market.

Also note, interest earned on Edward Jones CDs does not compound. This is true of most brokered CDs as they require an immediate distribution of interest. The terms of your personal CD will tell you how often the interest on your account is credited and where.

Brokered CDs with Edward Jones do not automatically renew.

How to Purchase a CD Through Edward Jones

To open a brokered CD with Edward Jones, you’ll first need to set up a brokerage account with them if you don’t have one already. Edward Jones is a full service brokerage account with no minimum deposit requirements for account opening.

Opening up an Edward Jones brokerage account can be done online, however purchasing an Edward Jones brokered CD can not. For this you will have to go to a local office and fill out the paperwork. They will provide you with a prospectus to look over and discuss your options with you before you make any decisions.

As soon as your initial deposit clears, you are free to buy a new CD or a secondary CD through your Edward Jones broker.

Additional Deposit Accounts Offered Through Edward Jones

Edward Jones is a member of SIPC and deposit products with this firm are insured up to $250,000 per depositor.

In addition to its extensive suite of investment products and brokered CDs, this firm also offers money market funds and a cash management account.

Edward Jones Money Market Funds

Money market funds offered at Edward Jones, and most other brokerage firms, are not money market accounts. Money market funds are simply liquid mutual funds with good cash access. Money market accounts are federally insured deposit accounts with a guaranteed return of principal plus accrued interest.

Because money market funds are mutual funds with cash access, they do not guarantee that you will receive a full return on your principal.

On top of that, the cash in a money market fund may be used to invest in CDs or other short-term investments, but deposits into these funds are not FDIC insured.

Edward Jones money market funds are available as investment shares and retirement shares – both of these taxable options. You will be charged a $3 monthly maintenance fee for retirement share class money market funds with balances below $1,500 and a $3 monthly maintenance fee for investment share class money market funds with balances below $2,500. Talk with your advisor about cash and cash equivalents available for you to invest in with your money market fund—this will vary. 

There is no minimum investment required to open a money market fund and the current 7-day yield per share is 0.01%.

On the positive side, these money market funds make withdrawing and using money simple because they allow you to write unlimited checks and use a Visa debit card. Transactions and withdrawals are unlimited, unlike money market accounts.

Edward Jones Flex Funds Account (Cash Management Account)

An Edward Jones Flex Funds account is a cash management account that earns interest on your uninvested balance.

There is no annual fee and you can write up to 120 checks per year free of charge. This account is insured up to $1.5 million leveraging multiple banks’ $250,000 FDIC deposit insurance using the “Bank Sweep Program.”

With a Flex Funds account, you can set short-term savings goals for yourself and easily track your progress toward them. Your financial advisor can go through the details about how to strategize saving and investing with this account, but you have a lot of options and flexibility overall with a product like this.

Account Set-Up and Management

Edward Jones allows you to make quick and easy deposits into your account(s) and transfer funds electronically. You can enroll in online bill pay and link a direct deposit to one or more of your savings or investment accounts. Mobile check deposit is another feature included on the Edward Jones native apps for both Google Play and App Store, where they score an impressive 4.7 and a 4.6 out of 5, respectively.

Final Thoughts

Edward Jones is a more than satisfactory brokerage firm and its brokered certificates of deposit are offering some highly competitive yields on both short and long term durations.

As the FED continues to raise rates throughout the remainder of the year, we expect Edward Jones brokered CD rates to continue their ascent as well.

Suncoast Credit Union CD Rates – Up to 2.00% APY!


image credit: suncoastcreditunion.com

Suncoast​ is the largest credit union in Florida and the tenth largest credit union in the U.S. by asset size.

Founded in 1934 as the Hillsborough County Teachers Credit Union by a small group of teachers, Suncoast got its start serving only school employees. For many years, it was a federal institution called the Suncoast Schools Federal Credit Union and only transitioned back to a state credit union, assuming the name it has now, in 2013.

Today and since 2013, membership is not career-dependent. Suncoast serves 884,024 educators and non-educators alike across Florida. However, Suncoast membership isn’t open to everyone.

To be eligible to join, you have to live in Florida yourself, be a graduate of Florida College, or be related to someone that’s already a member.

Suncoast Credit Union CD rates are currently providing yields that are much higher than the national average for each respective term. They were recently featured in our December 2020 report of the best CD rates in Florida.

Suncoast Credit Union CD Rates + Details

Suncoast deposits and savings are federally insured by the NCUA (FDIC equivalent for credit unions) up to $250,000. A traditional share certificate requires a minimum opening deposit and average daily balance of only $500.

CD Rates

CD TermAPY
6 month0.55%
12 month0.65%
18 month0.70%
24 month0.80%
36 month1.25%
48 month1.50%
60 month2.00%

To put these yields above in perspective, the current national average for a 12 month CD and a 60 month CD sit at just 0.25% APY and 0.48% APY according to FDIC data.

Jumbo CD Rates

CD TermAPY
6 month0.55%
12 month0.65%
18 month0.70%
24 month0.80%
36 month1.25%
48 month1.50%
60 month2.00%

Early Withdrawal Fees

An early withdrawal fee of 90 days interest is charged if you withdraw funds from CDs with terms of 12 months or less and 180 days interest is charged for early withdrawals on terms 12 months or more.

Compounding Interest

Dividends for these accounts are compounded daily and credited monthly. You can choose to have your interest credited back into the CD or deposited into another account – either external or internal to Suncoast – without incurring any fee.

Jumbo certificates of $100,000 or more are also sold through Suncoast Credit Union. In normal market conditions, these products earn higher fixed rates than regular share certificates with lower balances, however, Suncoast and many other institutions have their yields much more inline with standard CDs at the moment.

In addition to their standard CDs and jumbo CDs, Suncoast Credit Union also offers a ​Smart Start certificate account​.

Smart Start Certificate

The 12 month Smart Start certificate allows you to make deposits on a schedule rather than up front. It can be opened with just $50 and comes with an APY of 0.65%. After your initial deposit, you’ll need to schedule automatic payments of at least $40 per month from your payroll or another account. All of the restrictions and fees listed above for regular share certificates apply for Smart Start certificates.

To open a Suncoast CD, visit a branch, send an email through online banking, or contact the Member Care Center​ at ​813-621-7511 or 800-999-5887.

Suncoast Credit Union Money Market Rates + Account Details

Suncoast Credit Union’s current money market rates are much less competitive than their CDs. And although the national average for money market accounts sits at around 0.11% APY, better rates with more flexible balance requirements can be found online.

Money Market Rates

BalanceAPY
$0 – $999.990.50%
$1,000 – $24,999.990.20%
$25,000 – $49,999.990.25%
$50,000 – $99,999.990.30%
$100,000 – 149,999.990.35%
$250,000+0.40%

Dividends are compounded daily and paid monthly. Your balance can drop below $1,000 without incurring any fees, but you’ll stop earning interest as soon as that happens. You can easily access your money online or through the mobile app, but you’re allowed only six transactions per month, which is required by law per regulation D. If you need to make more than six transactions you’ll want to stop by a branch and check with someone in person.

Other Savings Accounts Offered by Suncoast Credit Union

A regular share membership is the savings account that you open when you first become a Suncoast member. This account comes with an APY of just 0.15%. We wouldn’t recommend using it to grow your savings given the paltry APY but it is required to be a member. Currently, it requires an opening deposit and average daily minimum balance of just $5 to stay open and maintain membership with the credit union.

There are also the student savings, health savings, and special share savings accounts. A special share savings is just a savings account you can have in addition to your regular share membership savings account and it earns the same rate. The only difference is that it does not require a minimum balance because it does not count as your share in Suncoast Credit Union.

A student or youth savings account is simply a certificate account that earns the same tiered rates as the standard Suncoast CDs but requires a minimum opening balance of only $500 – making it more manageable for students.

About Suncoast Credit Union + Eligibility

Suncoast has exactly 895,000 members as of mid 2020 and this figure has been growing steadily each year. The composition of Suncoast Credit Union’s Financial statements are as follows:

Deposits: $9,832,734,549

Loans: $8,566,015,257

Assets: $11,100,632341

Suncoast Credit Union is headquartered in Tampa, Florida and serves communities across the state. There are ​68 branch locations​ in 40 Florida cities and hundreds of Suncoast branded ATMs. Though it is a state credit union and does not participate in co-op shared branching with other institutions, Suncoast ​does​ have over 30,000 ATMs with other credit unions across the nation. Use the Suncoast site to find a branch location, Suncoast (surcharge-free) ATM, or co-op ATM near you.

Suncoast membership is, of course, residency or geography based. However, you don’t necessarily have to be a current Florida resident to be eligible to join. To qualify for membership, you must:

  1. Have an immediate family member that is a Suncoast member
  2. Live in a qualifying county (see below)
  3. Be a graduate of ​Florida College

Qualifying Florida counties​ include:

  • Alachua
  • Brevard
  • Broward
  • Charlotte
  • Citrus
  • Clay
  • Collier
  • Desoto
  • Dixie
  • Duval
  • Gilchrist
  • Glades
  • Hardee
  • Hendry
  • Hernando
  • Highlands
  • Hillsborough
  • Indian River
  • Lake
  • Lee
  • Leon
  • Levy
  • Manatee
  • Marion
  • Martin
  • Miami-Dade
  • Monroe
  • Orange
  • Osceola
  • Palm Beach
  • Pasco
  • Pinellas
  • Polk
  • Sarasota
  • Seminole
  • St. Johns
  • St. Lucie
  • Sumter
  • Volusia