This editorial content is not provided or commissioned by any of the referenced financial institutions or companies. Opinions, analysis, reviews or recommendations expressed here are the author’s alone, not those of any financial institutions or companies, and have not been reviewed, approved or otherwise endorsed by any such entity. All products or services are presented without warranty.

Pentagon Federal Credit Union is offering two chart-topping CD rates in the new year.

Available to savers everywhere for a minimum $1,000 deposit, PenFed is paying 1.36 percent APY on 1-year CDs and 2.28 percent APY on 5 year CDs.

That’s better than you can do with any of the national banks in our roundup. The leading yield for 12-month CDs is 1.31 percent APY*, while the top 60-month CD pays 2.27 percent APY*.

Based in Virginia, PenFed is one of the nation’s largest credit unions, offering membership to anyone in the country.

All members of the U.S. military and employees of the U.S. government are instantly eligible to join, as are employees and members of almost 200 affiliated organizations and associations.

Eligibility is also extended to relatives and housemates of any person who qualifies to join PenFed, even if they don’t become a member themselves.

Even if you’re not eligible through one of these avenues, you can become a PenFed member by joining either Voices for America’s Troops for a one-time $14 fee, or the National Military Family Association for a $15 one-time fee. Either association membership can be taken care of by PenFed as part of your credit union application.

CALCULATE: Finding out how much interest you’ll earn on any certificate is easy with our CD Calculator.

Joining PenFed and purchasing its certificates of deposit can be done online, over the phone or in person at almost 30 branches located in Washington, D.C., Virginia, Hawaii, Maryland, New York, Texas, North Carolina, Florida and Tennessee, as well as on military bases in Guam, Japan, Portugal and Puerto Rico.

RATE SEARCH: Compare CDs on Bankrate.

*The rates above were gathered Jan. 4, 2017. Quoted top national CD rates are based on a daily survey of banks who offer their certificates nationwide online or by mail.

This editorial content is not provided or commissioned by any of the referenced financial institutions or companies. Opinions, analysis, reviews or recommendations expressed here are the author’s alone, not those of any financial institutions or companies, and have not been reviewed, approved or otherwise endorsed by any such entity. All products or services are presented without warranty.

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