Have you noticed that Golf Savings Bank has crept back into our rankings of the best 3-month CD rates?
The little bank with a single branch in Mountlake Terrace, Wash., is only paying 0.84% APY – not nearly enough to knock Fort Knox Federal Credit Union out of the lead.This unusual Kentucky credit union that allows anyone to join, regardless of where they live or work, continues to offer an unbeatable 1.40% APY with only a $500 minimum deposit.
But it’s still good to see Golf again, even if it is demanding a rather steep $10,000 minimum deposit.
In April it was offering the best return on three of the six CDs we track, before dramatically reducing its rates and dropping out of sight.
The other top, nationally available rates on 3-month certificates of deposit are:
1.00% APY from Hudson City Savings Bank. It requires a $5,000 from online applicants, but only $500 for in-person purchases at any of its New York, New Jersey or Connecticut branches.
0.90% APY with a $10,000 minimum deposit from Goldwater Bank, which has a single location in Scottsdale, Ariz.
Most credit unions have requirements that restrict membership — disqualifying them from our rankings.
But anyone can qualify for membership in Fort Knox by joining the American Consumer Council at the same time.
Just click on “Become a member” on the home page or rate page, then “Click here to get started.” When you’re asked for “Eligibility Criteria,” use the pull-down menu to click on “AMERICAN CONSUMER COUNCIL/KENTUCKY CHAPTER.”
When you complete the application, the credit union will automatically enroll you in the consumer advocacy group and you’ll be able to buy CDs as part of the application process.
Joining the American Consumer Council, a non-profit that promotes financial literacy through credit unions, is free. Joining the credit union costs $15.
Compare these returns with the best CD rates from scores of other banks in our extensive database.
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