Finding CD yields of 3.00% is difficult these days even for the longest terms. I found one today in Indiana. It's at Teachers Credit Union which has a special 71-month CD and IRA CD with a 3.05% APY. Minimum deposit is $1,000. There's also a special 35-month CD with a 1.80% APY. These rates are listed at the credit union deposit rates page as of 8/15/2011.
Membership is open to those who live or work in one of several counties in Indiana. This includes parts of Marion County so many people in Indianapolis may qualify. Please refer to the credit union's membership page for the full details.
Teachers Credit Union branches are located throughout central and north Indiana, and in southern Michigan. Some of the cities include Indianapolis, Elkhart, Mishawaka, Plymouth, South Bend and Warsaw.
Teachers Credit Union is the largest credit union in Indiana. It has over $2 billion in assets. The credit union has an overall health score at EpBooks.us of 4 stars (out of 5) with a Texas Ratio of 11.03% (above average) based on March 2011 data. Please refer to our financial overview of Teachers Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 60060).
How These CD Rates Compare
The best nationally available 7-year CD rate used to be 3.00% APY at Dime Savings Bank, but I just checked this morning, and the yield has dropped to 2.00% APY. You can still get 3.00% APY at Navy Federal Credit Union but membership is primarily limited to those with some military connection. It should be noted that 7 years is 84 months so Teachers Credit Union's 71-month CD is closer to a 5-year (60-month) CD. These rates are accurate as of 8/15/2011.
Searching for the Best CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of EpBooks.us.