10 Best Credit Union CD Rates 2024
Jan 26, 2024
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ALSO CONSIDER: Best CD rates || Best credit unions || Best high-interest accounts
Credit unions tend to have higher savings rates than banks, and some even compete with online banks' rates. Share certificates — what many credit unions call their certificates of deposit — have terms that range from several months to years, with minimum deposits varying by institution.
Unlike banks, credit unions can restrict membership based on geography, employer and other criteria, so be sure to check eligibility requirements. Here's a look at some of the best credit union CD rates.
Best Credit Union CD rates 2024
Easy to join:
Pentagon Federal Credit Union: APYs: 3.80% (1 year); 3.40% (3 years); 3.20% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Connexus Credit Union: APYs: 3.42% (1 year); 3.35% (3 years); 3.16% (5 years); Term range: 1 - 5 years; Minimum to open: $5,000.
Alliant Credit Union: APYs: 4.25% (1 year); 3.65% (3 years); 3.65% (5 years); Term range: 3 months - 5 years; Minimum to open: $1,000.
Andrews Federal Credit Union: APYs: 4.30% (1 year); 3.85% (3 years); 3.65% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Self-Help Credit Union: APYs: 3.87% (1 year); 3.35% (3 years); 3.35% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Competitive rates but restrictive membership:
Navy Federal Credit Union: APYs: 4.80% (1 year); 4.00% (3 years); 3.80% (5 years); Term range: 3 months - 7 years; Minimum to open: $1,000.
SchoolsFirst Federal Credit Union: APYs: 4.45% (1 year); 4.45% (3 years); 4.60% (5 years); Term range: 1 month - 5 years; Minimum to open: $500.
America First Credit Union: APYs: 5.15% (1 year); 4.35% (3 years); 4.20% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Community First Credit Union of Florida: APYs: 2.94% (1 year); 3.30% (3 years); 3.67% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Delta Community Credit Union: APYs: 5.15% (1 year); 4.00% (3 years); 4.00% (5 years); Term range: 6 months - 5 years; Minimum to open: $1,000.
Nerdy Tip
The Fed lowered its benchmark rate multiple times in the second half of 2024. As a result, banks and credit unions have started lowering CD rates. With a CD, you can lock in high rates while they’re still around.
Best Credit Union CD Rates 2024
Bank/institution | NerdWallet rating | Minimum deposit | APY | Learn more |
|---|---|---|---|---|
 Alliant Credit Union Certificate Learn more at Alliant Credit Union, Federally insured by NCUA | 4.2/5 | $1,000 Federally insured by NCUA | 1-year APY 4.25% 3-year APY 3.65% 5-year APY 3.65% | Learn more at Alliant Credit Union, Federally insured by NCUA |
 Navy Federal Credit Union Standard Certificate Read review | 4.2/5 | $1,000 Federally insured by NCUA | 1-year APY 4.80% 3-year APY 4.00% 5-year APY 3.80% | Read review |
 Connexus Credit Union Certificate Read review | 4.7/5 | $5,000 Federally insured by NCUA | 1-year APY 3.42% 3-year APY 3.35% 5-year APY 3.16% | Read review |
 PenFed Credit Union Money Market Certificate Read review | 3.2/5 | $1,000 Federally insured by NCUA | 1-year APY 3.80% 3-year APY 3.40% 5-year APY 3.20% | Read review |
 SchoolsFirst FCU Certificate Read review | 5.0/5 | $500 Federally insured by NCUA | 1-year APY 4.45% 3-year APY 4.45% 5-year APY 4.60% | Read review |
 Self-Help Credit Union Term Certificate Read review | 4.4/5 | $500 Federally insured by NCUA | 1-year APY 3.87% 3-year APY 3.35% 5-year APY 3.35% | Read review |
 Andrews Federal Credit Union Fixed Rate Share Certificates Read review | 4.7/5 | $1,000 Federally insured by NCUA | 1-year APY 4.30% 3-year APY 3.85% 5-year APY 3.65% | Read review |
 America First Credit Union Certificate Read review | 4.9/5 | $500 Federally insured by NCUA | 1-year APY 5.15% 3-year APY 4.35% 5-year APY 4.20% | Read review |
 Community First Credit Union CD Read review | 3.1/5 | $500 Federally insured by NCUA | 1-year APY 2.94% 3-year APY 3.30% 5-year APY 3.67% | Read review |
 Delta Community Credit Union CD Read review | 4.5/5 | $1,000 Federally insured by NCUA | 1-year APY 5.15% 3-year APY 4.00% 5-year APY 4.00% | Read review |
Our pick for
Easy to join
Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY 4.25%
3-year APY 3.65%
5-year APY 3.65%
Minimum deposit
$5,000
Federally insured by NCUA
APY
1-year APY 3.42%
3-year APY 3.35%
5-year APY 3.16%
Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY 3.80%
3-year APY 3.40%
5-year APY 3.20%
Minimum deposit
$500
Federally insured by NCUA
APY
1-year APY 3.87%
3-year APY 3.35%
5-year APY 3.35%
Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY 4.30%
3-year APY 3.85%
5-year APY 3.65%
Our pick for
Competitive rates but restrictive membership
Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY 4.80%
3-year APY 4.00%
5-year APY 3.80%
Minimum deposit
$500
Federally insured by NCUA
APY
1-year APY 4.45%
3-year APY 4.45%
5-year APY 4.60%
Minimum deposit
$500
Federally insured by NCUA
APY
1-year APY 5.15%
3-year APY 4.35%
5-year APY 4.20%
Minimum deposit
$500
Federally insured by NCUA
APY
1-year APY 2.94%
3-year APY 3.30%
5-year APY 3.67%
Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY 5.15%
3-year APY 4.00%
5-year APY 4.00%
» Want to see more CD options? Check out our list of the best CD rates overall
How do CDs at banks and credit unions differ?
Banks are for-profit institutions while credit unions are not-for-profits. Your banking needs for CDs can generally be met at either, but if you prefer a banking institution known for being part of the community it resides in, credit unions tend to fill those shoes better.
Do banks or credit unions offer better rates?
On average, you can find credit unions with higher CD rates than traditional banks. However, online banks and online credit unions tend to offer some of the best rates available.
» Curious about other savings options? Check out NerdWallet’s best high-yield online savings accounts
Best Credit Union CD rates 2024
Easy to join:
Pentagon Federal Credit Union: APYs: 3.80% (1 year); 3.40% (3 years); 3.20% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Connexus Credit Union: APYs: 3.42% (1 year); 3.35% (3 years); 3.16% (5 years); Term range: 1 - 5 years; Minimum to open: $5,000.
Alliant Credit Union: APYs: 4.25% (1 year); 3.65% (3 years); 3.65% (5 years); Term range: 3 months - 5 years; Minimum to open: $1,000.
Andrews Federal Credit Union: APYs: 4.30% (1 year); 3.85% (3 years); 3.65% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.
Self-Help Credit Union: APYs: 3.87% (1 year); 3.35% (3 years); 3.35% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Competitive rates but restrictive membership:
Navy Federal Credit Union: APYs: 4.80% (1 year); 4.00% (3 years); 3.80% (5 years); Term range: 3 months - 7 years; Minimum to open: $1,000.
SchoolsFirst Federal Credit Union: APYs: 4.45% (1 year); 4.45% (3 years); 4.60% (5 years); Term range: 1 month - 5 years; Minimum to open: $500.
America First Credit Union: APYs: 5.15% (1 year); 4.35% (3 years); 4.20% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Community First Credit Union of Florida: APYs: 2.94% (1 year); 3.30% (3 years); 3.67% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.
Delta Community Credit Union: APYs: 5.15% (1 year); 4.00% (3 years); 4.00% (5 years); Term range: 6 months - 5 years; Minimum to open: $1,000.
Last updated on January 26, 2024
Methodology
We took a close look at some of the nation's largest credit unions, based on deposits as well as broad-based membership requirements, in addition to other notable credit unions in the industry.
Financial institutions and providers surveyed are: Alliant Credit Union, America First Credit Union, Andrews Federal Credit Union, Bethpage Federal Credit Union, Boeing Employees Credit Union, Community First Credit Union of Florida, Connexus Credit Union, Consumers Credit Union, Delta Community Credit Union, First Tech Federal Credit Union, Global Credit Union, Golden 1 Credit Union, Hope Credit Union, Lake Michigan Credit Union, Navy Federal Credit Union, Pentagon Federal Credit Union, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, State Employees’ Credit Union of North Carolina, Suncoast Credit Union.
NerdWallet's Best Credit Union CD Rates 2024
- Alliant Credit Union Certificate: Best for Easy to join
- Navy Federal Credit Union Standard Certificate: Best for Competitive rates but restrictive membership
- Connexus Credit Union Certificate: Best for Easy to join
- PenFed Credit Union Money Market Certificate: Best for Easy to join
- SchoolsFirst FCU Certificate: Best for Competitive rates but restrictive membership
- Self-Help Credit Union Term Certificate: Best for Easy to join
- Andrews Federal Credit Union Fixed Rate Share Certificates: Best for Easy to join
- America First Credit Union Certificate: Best for Competitive rates but restrictive membership
- Community First Credit Union CD: Best for Competitive rates but restrictive membership
- Delta Community Credit Union CD: Best for Competitive rates but restrictive membership
Frequently asked questions
- What is a CD or share certificate?
A CD, or certificate of deposit, or share certificate is a type of savings account that lets you lock up a sum of money at a fixed rate for a specified length of time until the maturity date. Common terms range from three months to five years.
The ability to lock in rates when they’re high is one of the most attractive features of a CD, especially since regular savings accounts have variable rates subject to change at any time. Even outside of high-rate environments, though, CDs provide a safe, federally insured place for short-term savings.
The main downside to CDs is that you’ll generally have to pay a penalty if you withdraw your money before a CD matures; the penalty can be equal to several months’ or a year’s worth of interest. If you’re thinking about CDs, compare the highest CD rates today.
- What terms do credit unions use differently than banks?
Here are some important ones:
What banks call interest, credit unions call dividends.
What banks call certificates of deposit or CDs, most credit unions call share certificates or just certificates.
What banks call savings accounts, credit unions may call share accounts.
What banks call customers, credit unions call members.
- What’s the benefit of choosing a credit union over a bank?
A credit union tends to be more driven to help a particular community, whether that’s based on geography or another commonality, such as being in the military. As part of that, customer service can be better at a credit union. You may also find higher rates and lower fees than what you find at banks.
- What are the pros and cons of credit union CDs?
A main pro of some credit union CDs is how competitive the rates are, compared with top yields at online banks and traditional banks. And opening minimums tend to be fairly low.
» COMPARE: Best credit unions
A main con is that credit unions have different membership requirements and you might not be able to join the one you want. Some require you to belong to a certain state or work for a certain employer, while others with more inclusive membership may require you to join an affiliated nonprofit organization for a low one-time membership fee, such as $5.
Membership requirements determine eligibility, but just as with banks, even eligible applicants may not be approved. (If you’ve been denied a bank account, learn more about how banks can block former customers.)