--- title: These Credit Unions Offer CDs With APYs up to 9.5%. Do You Qualify? description: A few credit unions now have CDs with 9% APY, while you can lock in CD rates of 4% to 5% with national banks like Discover and Ally. authors: - name: Adam Hardy role: Lead Data Reporter url: https://money.com/author/adam-hardy/ bio: Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. Adam’s work has also appeared in Business Insider, Forbes, Nasdaq, The Penny Hoarder, Yahoo! Finance and more than a dozen local and regional newspapers. education: University of South Florida, BA, Magazine Journalism at_money_since: 2021 articles: 498 covers: - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - The Penny Hoarder - Forbes Advisor - Creative Loafing - The New York Times - The Washington Post - Bloomberg - Harvard Law School - The Federal Register - National Consumer Law Center - CBS News - Becker's Hospital Review - Business Insider - Mother Jones - The Week - Fortune - The Philadelphia Inquirer - National Association of Student Financial Aid Administrators (NAFSAA) - Education Advisory Board (EAB) - The Institute for College Access & Success (TICAS) - This Morning with Gordon Deal - Empower - Reddit social: - https://www.x.com/hardyjournalism - https://www.linkedin.com/in/hardyjournalism/ editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2024-08-07T19:53:23.000Z' modified: '2025-11-04T16:30:57.000Z' section: Banking tags: - News word_count: 621 canonical: https://money.com/credit-union-cd-apy-9-percent/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We may earn a fee if you click on the links below. Compensation does not determine ranking. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Stacks of increasing money served on a platter](https://img.money.com/2024/08/News-Credit-Union-APY-CD.jpg) As [interest rate cuts loom](https://money.com/fed-waited-too-long-rate-cut/), there’s still time to lock in eye-popping yields on [certificates of deposit](https://money.com/what-is-a-certificate-of-deposit/), or CDs. Three credit unions on the West Coast are offering rates north of 6%, two of which offer [APYs (annual percentage yields)](https://money.com/what-is-an-annual-percentage-yield-apy/) of 9% or higher. These rates are available only to folks who meet the credit unions’ membership requirements — so you might not qualify, unfortunately. There are plenty of other CDs with historically high APYs that are available now to anyone, however. And because the consensus holds that rates are bound to fall in the near future, it could be wise to invest in a CD sooner than later. ## Lock in your CD rate before they start to fall ### Don't miss out on current rates! If you're seeking a low-risk option beyond stocks and bonds, explore the benefits of a Certificate of Deposit (CD) with Discover®️. Click on your state to kickstart your CD account today. [See Offer](https://money.com/pr/z11b33a9f54e?ap_referrer=%2Fcredit-union-cd-apy-9-percent%2F) ## CDs with the highest interest rates As of Wednesday, the California-based Financial Partners Credit Union is offering an eight-month CD special with a [6.5% APY](https://fpcu.org/checking-savings/certificates-iras). The minimum deposit for this offer is $1,000, with a maximum of $5,000. To become a member of FPCU, you must live, work or go to school in or around Los Angeles or San Francisco. Alternatively, you can qualify if you work for or retired from one of its [dozens of partnering employers](https://fpcu.org/why-join/select-employer-groups). Many of these companies are based in states other than California, and several, like American Apparel and The Alzheimer’s Association, are nationwide. Up in Washington state, Express Credit Union is running a [9% APY CD promotion](https://www.expresscu.org/bank/cd/) in celebration of its 90th anniversary. The deposit account must be opened on the 9th of each month until the end of the year either by email, phone or at a union branch. (So: This Friday, August 9, is a possibility.) The minimum required deposit is $200, and the maximum is $5,000. Membership in this credit union is limited to those who live, work or worship in the state of Washington. Also celebrating an anniversary is California Coast Credit Union. The financial institution is turning 95 this year and is offering a [9.5% rate for a five-month CD](https://www.calcoastcu.org/cd-accounts/celebration-certificate/) to members who live in San Diego or Riverside counties. Deposits at this rate-tier must be within $500 and $3,000. These promotional rates are far above the standard APY for CDs right now. According to the FDIC, the nationwide average rate for one-year CDs is 1.85%, down slightly from earlier this summer. ## Opening a Certificate of Deposit (CD) account can be a safe way to grow your savings ### A Discover®️ CD account is a great financial tool to build your savings for a short-term goal. Click below to open a CD account. [See Offer](https://money.com/pr/laa05c687bed?ap_referrer=%2Fcredit-union-cd-apy-9-percent%2F) ## Where else to find a good CD rate The majority of Americans won’t qualify for the sky-high promotional rates mentioned above. And while the national average rate for CDs is below 2%, there are still plenty of banks across the country with CDs that have yields far above that number. Many of the [best CD rates](https://money.com/best-cd-rates/) at national banks or credit unions are in the 4% to 5% range. For example, [Discover’s highest CD rate](https://money.com/pr/u89384dbf055?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-cd-rates%2F&apnavid=9c7a3619d5db4715d5750a4a64a2d299) is currently its 12-month CD which has a 4.05% APY. Over at Ally Bank, a [six-month CD yields 5%](https://secure.money.com/branded/splash?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-cd-rates%2F&apnavid=9c7a3619d5db4715d5750a4a64a2d299&company_alias=ally-bank-cds-review&pcuid=c92678cdd741&redirect_to_top=1&skip_dynamic_offer=true&vertical_alias=cds&zip=33701), and its 12-month CD has a 4.5% rate. Ally is one of the few banks that does not have a minimum deposit requirement for its CDs with high APYs. In anticipation of the [Federal Reserve cutting benchmark rates in September](https://money.com/fed-interest-rates-cuts-coming-september/) (or perhaps [even sooner](https://money.com/fed-waited-too-long-rate-cut/)) interest rates across the board from [savings accounts](https://money.com/best-high-yield-savings-accounts/) to [mortgage rates](https://money.com/current-mortgage-rates/) are beginning to edge downward. In effect, this means the [window to lock in a high-yield CD is closing](https://money.com/cd-rates-falling-2024/). One of the best reasons to invest in CDs is that the rates are guaranteed for their term, regardless of what the Fed does with interest rate policies. 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