Washington Fed Pays 2.50% On 2-Year CD

Here’s another example of the competitive CD rates we’re finding in the Pacific Northwest.

Seattle-based Washington Federal Savings is paying a 2.50% APY on a 24-month CD with a minimum deposit of $1,000.

If this deal was nationally-available, it would be near the top of our rankings of the best 24-month CD rates.

But it’s not and you can’t apply online.

To open an account you’ve got to visit one of Washington Federal’s 124 branches in eight Western states.

This certificate of deposit is also available at a couple of banks it owns — First Mutual Bank, with 13 branches in Washington, and First Federal Bank, with 13 branches in New Mexico.

Since Washington Federal doesn’t even post CD rates on its Web site, call your local branch to confirm it’s still being offered before making the trip.

Click here for the address and phone number of the one nearest you.

You can use our extensive database of CD rates to compare this offer with the best deals from scores of banks.

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4% CD Rates Hanging On At A Few CUs

When summer began, 4% CD rates were available at many banks and credit unions if you were willing to tie your money up for 60-months or longer.

That’s no longer the case.

We don’t know of a single bank that’s still paying 4% on 5-year — or even 7-year — certificates of deposit.

Although credit unions usually offer better CD rates than commercial banks, the pronounced difference we once saw has diminished over the past few months.

The rate sheets at many credit unions are remarkably — some might say depressingly — similar to those at most banks.

Only a few continue to offer 4% on long-term CDs.

If you belong to one of those credit unions — or are eligible to join — consider yourself very lucky.

Pentagon Federal Credit Union is paying 4.00% APY on a 7-year CD with a $1,000 minimum deposit. Membership is open to uniformed members of the military, family members, and defense related government and private employees. (Check here for a complete eligibility list.)

Hamilton Horizons Federal Credit Union is paying 4.00% APY on a 60-month CD with a $1,000 minimum deposit. Membership is open to anyone who lives, works, worships or attends school in Hamilton Township, New Jersey.

Montauk Credit Union, is paying 4.25% APY with a $2,500 minimum deposit on a 7-year CD. Membership is open to anyone, but new accounts must be opened in person at its office, 111 West 26th Street, New York City.

Police and Fire Federal Credit Union is paying 4.00% APY on a 60-month CD with a $500 minimum deposit. Membership is open to scores of public and private employers in the Philadelphia area. (Click here to see the complete list of eligible employers.)

You can use our extensive database of CD rates to compare these offers with the best deals from scores of banks.

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