Top 1-year CD rates have barely moved in the past six months. A 12-month CD pays on average about 0.42 percent APY, based on Bankrate’s weekly survey. In June, the average yield was 0.35 percent APY.

Fortunately, you can find institutions that offer rates that are much higher than average. Compare today’s best 1-year CD rates from all banks and credit unions.

Best Credit Union CD Rates – (1-year CDs)

  • USALLIANCE Financial: 1.71%
  • Pentagon Federal Credit Union: 1.61%
  • Melrose Credit Union: 1.61%
  • Air Force Federal Credit Union: 1.56%
  • Latino Community Credit Union: 1.55%
  • Interior Federal Credit Union: 1.51%

Bankrate’s best 1-year credit union CD rates

Each month, Bankrate surveys the top 50 largest credit unions in the country. Here are six credit unions that offer the best nationally available 1-year CD rates today. They each pay at least three times the national average.

Best 1-year CD rates
Institution APY Minimum deposit
USALLIANCE Financial 1.71% $500
Pentagon Federal Credit Union 1.61% $1,000
Melrose Credit Union 1.61% $5,000
Air Force Federal Credit Union 1.56% $1,000
Latino Community Credit Union 1.55% $500
Interior Federal Credit Union 1.51% $500

USALLIANCE Financial

USALLIANCE Financial is based in Rye, New York. It has branches in several states, including Connecticut and Massachusetts, and more than 90,000 members around the world. It earned four out of five stars in Bankrate’s latest review of its financial health.

  • What is pays: 1.71 percent APY
  • Membership restrictions: Membership is open to anyone willing to join one of 11 associations or charitable organizations, such as the Council of Community Service or the Bill Fish Foundation. You can also join if you’re associated with Manhattanville College or Columbia University, you’re a family or household member of a current member, you’re an employee of more than 150 companies or you live, work or worship within a certain area. Retirees or employees of the state or local government in certain New York counties are also eligible for membership.
  • Minimum deposit: $500
  • Early withdrawal penalty: 180 days’ dividends on the amount withdrawn.

Pentagon Federal Credit Union

Pentagon Federal Credit Union is based in Alexandria, Virginia. It serves members in all 50 states and Washington, D.C., Guam, Puerto Rico, Portugal and Okinawa, Japan. It has dozens of branches scattered throughout the country in places like California, Florida, Georgia, Hawaii and Nebraska. The credit union earned four out of five stars in Bankrate’s latest review of its financial health.

  • What it pays: 1.61 percent APY
  • Membership restrictions: Active and retired members of the U.S. military and employees of the U.S. government are eligible to join. Employees and members of nearly 200 affiliated organizations and associations are also eligible. Relatives and housemates of members are eligible as well. If you can’t join through one of those avenues, you can become a member by joining the Voices for America’s Troops or the National Military Family Association for a one-time $17 fee.
  • Minimum deposit: $1,000
  • Early withdrawal penalty: All dividends are forfeited.

Melrose Credit Union

Melrose is based in Briarwood, New York. It has a single local branch and more than 20,000 members.

  • What it pays: 1.61 percent APY
  • Membership restrictions: Membership is open to anyone with a Social Security number and a valid photo ID issued by the U.S. government.
  • Minimum deposit: $5,000
  • Early withdrawal penalty: 90 days’ dividends and a reduction to the share savings rate that applied at the time of purchase.

Air Force Federal Credit Union

Air Force Federal Credit Union is based in San Antonio, Texas. Charted in 1952, it currently serves nearly 43,000 members. The credit union earned three out of five stars in Bankrate’s latest review of its financial health.

  • What it pays: 1.56 percent APY
  • Membership restrictions: Membership is open to active duty service members, Department of Defense civilian employees and retirees and contractors assigned to U.S. government installations. You can also become a member by joining the Airman Heritage Foundation, being a family member of a current or deceased credit union member or a family member of a service member. Membership is open to employees or members of one of the select employee groups and those associated with certain churches in San Antonio.
  • Minimum deposit: $1,000
  • Early withdrawal penalty: One-half of the dividends that would have accrued from the withdrawal date to the maturity date, based on the contracted rate and the amount withdrawn above any dividends that have already accrued or have already been credited.

Latino Community Credit Union

Latino Community Credit Union is based in Durham, North Carolina. It opened its doors in 2000 and currently has around 72,000 members. The credit union earned five out of five stars in Bankrate’s latest review of its financial health.

  • What it pays: 1.55 percent APY
  • Membership restrictions: Membership is open to anyone who joins the Latino Community Development Center. There’s a one-time $10 family membership fee.
  • Minimum deposit: $500
  • Early withdrawal penalty: 90 days of interest or all interest accrued or earned, whichever is less.

Interior Federal Credit Union

Interior Federal Credit Union has a branch in Washington D.C. and one in Reston, Virginia. Members also have access to 5,600 service centers and shared branches nationwide.

  • What it pays: 1.51 percent APY
  • Membership restrictions:
  • Minimum deposit: $500
  • Early withdrawal penalty: 90 days’ dividends.

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