Tuesday, July 24, 2012 12:00:00 PM
In an article published Saturday, The Wall Street Journal highlighted credit unions for the favorable rates they pay on certificates of deposits (CDs) in comparison to banks.
An analysis of 8,300 credit unions and banks conducted for The Wall Street Journal shows that CUs often beat out banks with better rates.
Credit unions and small banks on average pay 0.4% to 0.5% percentage points more on three- and five-ear certificates of deposits than big banks, the article said. Roughly, 18% of credit unions beat the best online rates for CDs—with Fort Knox FCU, Radcliff, Ky., offering the best rates at 2.25% on a 59-month certificate.
The story is available in its entirety by clicking here.