Get One of the Highest CD Rates in the U.S. at NCU – 2.50% APY

Have you noticed how low deposit rates get when the country is in an economic recession? The government does this by design. It wants us to spend money, because that is what stimulates the economy. The government lowers interest rates to make it easier for people like you and I to buy things that we typically need loans to purchase, like cars and homes. Unfortunately, when loan rates go down, so do savings rates at most financial institutions.

There’s something the government doesn’t tell you as it’s lowering interest rates. Saving money during a recession is more important than saving money when the economy is booming. Have you seen the unemployment rate? In the last two years, it’s only gone down by one percent. Businesses are still closing unexpectedly, and employers are still laying off without much notice. In the past, financial experts recommended having three months worth of income in savings. Now, they recommend at least six months of income in savings to help with unexpected job loss and other financial emergencies.

Neighborhood has a way to help you maximize the return on your money. We currently offer a 60-month certificate of deposit with a rate of 2.50% APY. Go to moneyaisle.com, and you will find that our rate is better than both the national average and state average by almost an entire percentage point. That means no matter where you go, you most likely won’t find a better rate in the country on this particular CD. Plus, the minimum deposit required for this CD is only $2,500. With the magic of compound interest, you’ll earn nearly $330 on your initial investment over the course of five years.

Here’s how that compares with other savings accounts. The rate on our money market account is currently 0.15% APY. Saving $2,500 for 60 months in that account would earn you $19. The rate on our share savings account is 0.25% APY. Saving $2,500 at that rate for 60 months would earn you $31. There’s a big difference between $19, $31 and $330, especially when it’s your money.

When it comes to saving money, it helps to think about what you have at stake. How would you pay for your house if you had an unexpected job loss tomorrow? Could you make your car payment and still keep the a/c running when it’s 100 degrees outside? Could you afford the basic necessities like food and water with the money you have in savings right now?

It’s not just about saving money. It’s about maximizing what you’re earning on your savings. Choose an account that’s going to give you the best return. You work hard for your money. It’s time to start letting it work hard for you.