LOS ANGELES—A new survey shows that credit unions are paying the highest CD rates in the country.
According to a new GoBankingRates report, CUs claim most of the top positions in the six-month, one-year, and two-year survey categories.
Service CU, in Falmouth, Mass., topped the six-moth list, paying 1.35% APY, while Coastal States Bank (1.15%) in Hilton Head, S.C., and Lomto CU (1.10%) in Woodside, N.Y., came in second and third, respectively. One bank made this list.
Turning to one year, Kauai Government Employees CU in Lihue, Hawaii is paying 1.56%, followed by America’s CU (1.51%) in JBLM, Wash., and Triboro Postal CU (1.51%) in Flushing, N.Y. No bank was listed in this category.
Gulf Coast FCU, Corpus Christi, Texas, topped the two-year list at 1.55%, with five other CUs tied for second at 1.51%. No bank made the two-year category.
GoBankingRates added that it does not expect CD rates to rise until 2015 or later, and when they do, it will be a slow climb.
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