Credit unions still offer the best IRA rates. Take for example the NIH Federal Credit Union which, as of November 9, 2009, offers very competitive 7 month IRAs.
Depending on the amount of your minimum deposit, you could earn as much as 3.00%APY. For a 7 month term IRA, NIH Federal Credit Union offers the following IRA rates:
- 7 month (minimum balance of $500) – 1.55%APY
- 7 month (minimum balance of $10,000) – 1.95%APY
- 7 month (minimum balance of $10,000 with direct deposit) – 3.00%APY
- 7 month (minimum balance of $10,000 without direct deposit) – 2.75%APY
NIH Federal Credit Union has locations in Maryland, the District of Columbia and Virginia. It is a non-profit cooperative offering membership shares in the form of savings deposits.