Best IRA CD Rates
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Established in 1934 by eight visionary leaders as DPS Credit Union, Westerra Credit Union, as it is now being called, offers competitive IRA rates to its members. The IRA rates offered, accurate as of August 17, 2010, are as follows:
- 3 months – 0.30%APY
- 6 months – 0.55%APY
- 12 months – 0.80%APY
- 24 months – 1.30%APY
- 36 months – 1.55%APY
- 48 months – 2.10%APY
- 60 months – 2.45%APY
The minimum balance required for the above terms or period of investment is $500 with rates computed daily and paid monthly. Note that you will be penalized if you make an early withdrawal. In addition, once the IRA investment matures, it may be renewed automatically for the same term and at the current rate.
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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.



