Courtesy of Northwest Federal

Courtesy of Northwest Federal

Here’s something to celebrate: One of the largest credit unions in Virginia is offering savers across the U.S a competitive 30-month CD deal.

Northwest Federal Credit Union’s Celebration Certificate pays 2.02 percent APY. That’s two-tenths of a percentage point higher than the top 36-month CD deal.

Best 3-year CD rates
Institution APY Minimum deposit
Connexus Credit Union 2% $5,000
EverBank 1.92% $5,000
Goldman Sachs Bank USA 1.9% $500
Popular Direct 1.9% $10,000
First Internet Bank of Indiana 1.87% $1,000

In fact, it’s equal to the rate tied to the best nationally available 48-month CD offer (with similar deposit requirements). That makes the promotion ideal for savers looking for short-term CDs.

You can earn a relatively high yield without losing access to your funds for a full 3 or 4 years.

Use our CD calculator to estimate how much interest you’ll earn.

How to join

At Northwest Federal Credit Union, membership is open to:

  • Employees of more than 440 member companies (and their family or household members)
  • Members of 30 community partner organizations (and their family or household members)
  • Retirees, employees and family or household members of certain government agencies, including the National Reconnaissance Office and the Office of the Director of National Intelligence

To find out whether you’re eligible to join, check out the credit union’s website. If you don’t live near any of the credit union’s seven branches, one of the easiest ways to join is to become a member of a community partner organization. According to a manager, 14 of them — including the Florida Literacy Coalition — require a one-time $10 donation.

A savings account with a $1 minimum deposit is a requirement for membership in the credit union. But Northwest Federal Credit Union can make the deposit on your behalf.

How to open a CD

You can join Northwest Federal Credit Union and buy a CD at the same time. To open a CD, you must:

  • Have a Social Security number
  • Have a previous home address (if you’ve lived at your current address for less than two years)
  • Have a driver’s license

Current account holders can open a 30-month CD over the phone. If you’re trying to set up an account for the first time, you should apply online or visit a local branch.

Terms and conditions

The minimum deposit for the 30-month CD is $1,000. The balance cap is $500,000.

You can fund your CD through an ACH transfer from another bank account. According to the certificate disclosure, the early withdrawal penalty is equal to the “lesser of 366 days of dividends on the amount withdrawn or all dividends on the amount withdrawn since the date of issuance or renewal.”

About Northwest Federal Credit Union

Northwestern Federal Credit Union is headquartered in Herndon, Virginia. The NCUA-insured institution earned four out of five stars on Bankrate’s latest Safe & Sound Ratings, which measures the financial health of banks and credit unions throughout the United States.