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The certificates of deposit (CDs) at BECU have relatively low interest rates when compared to other banks. To get the best CD rates, you will need to apply for a Member Advantage account, a membership level that offers higher interest rates for most types of accounts. In terms of CD length, five-year CDs offer the highest rates and the only rates greater than 2% (if you have a Member Advantage account).

BECU compounds interest monthly. This won’t accrue as much interest as a CD that compounds daily, but BECU offers two useful features to help you increase your earnings and contributions even after you’ve opened a CD. While its interest rates are not the best out there, it has nearly a dozen offerings and flexibility to change the flexibility to change your CD rate. 

To help determine whether or not you want to open a CD account at BECU, check out comprehensive information on its CD offerings below. 

CD Length APY: $500 – $49,999.99 Minimum Deposit APY: $50,000 – $99,999.99 Minimum Deposit APY: $100,000+ Minimum Deposit  
3-5 Month 0.25% 0.30% 0.30% Compare CD Rates
6-11 Month 0.30% 0.35% 0.35% Compare CD Rates
12-17 Month 0.70% 0.75% 0.75% Compare CD Rates
18-23 Month 0.90% 0.95% 0.95% Compare CD Rates
24-35 Month 1.06% 1.11% 1.11% Compare CD Rates
36-47 Month 1.46%  1.51% 1.51% Compare CD Rates
48-59 Month 1.46% 1.51% 1.51% Compare CD Rates
60 Month 1.56% 1.61% 1.61% Compare CD Rates

Bump CDs

Unlike many other banks and credit unions, BECU also offers Bump CDs that allow you to increase your rate partway through the CD term to the current BECU published rate. Bump CDs require a bit more commitment, though, as they only have 12-month and a 24-month term options. BECU offers Bump CDs for use in retirement accounts, with the same term lengths and interest rates.

CD Length APY: $500 – $49,999.99 Minimum Deposit APY: $50,000 – $99,999.99 Minimum Deposit APY: $100,000+ Minimum Deposit  
12 Month Bump 0.65% 0.70% 0.70% Compare CD Rates
24 Month Bump 1.00% 1.06% 1.06% Compare CD Rates

Six-Month Veterans Family Fund CD

In addition to the CD options above, BECU also offers a six-month Veterans Family Fund CD. This option pays you half of the CD’s earnings, and BECU pays the other half to veteran families in need. The interest paid to veterans may be tax-deductible. To decide whether this option fits in with your financial goals, talk to a financial advisor with tax expertise.

CD Length APY: $500 – $49,999.99 Minimum Deposit APY: $50,000 – $99,999.99 Minimum Deposit APY: $100,000+ Minimum Deposit  
6 Month Veterans Family Fund CD 0.30%  0.35% 0.35% Compare CD Rates

BECU CD Rates Interest Rate Comparison

Overview of BECU CDs

BECU, known as Boeing Employees' Credit Union for most of its history, offers 11 different CD options. Eight of those options apply to standard CDs, with terms ranging from three months up to five years. Customers who apply for a Member Advantage account will qualify for higher rates. Member Advantage is a membership level that requires you to file an application and to meet certain qualifications. With CD terms of less than one year, the rates for Member Advantage accounts are about twice as high as for people without Member Advantage.

The minimum deposit for a CD is $500, and BECU offers three different rate levels depending on how much you contribute to your CD. (Note that within the three rate levels, there are different rates for people with and without Member Advantage.) Contributions between $500 and $49,999.99 earn a lower rate than CDs worth more than $50,000. The third rate level, for CDs worth $100,000 or more, currently has the same rates as CDs worth between $50,000 and $99,999.99.

If the $500 minimum is high for you, consider BECU’s Add-To CD option. This feature lets you open a CD with only $100. You will then set up a contribution schedule to add to your CD regularly. The rate of your CD will stay the same as you contribute funds.

As with other banks, BECU will charge a penalty if you withdraw money from your CD before it comes to term. The early withdrawal penalty you pay will depend on the term length of your CD. If your term is 12 or fewer months, the penalty is equal is 30 days interest. If your term is more than 12 months, the penalty is 90 days interest. In the case that your CD has not accrued enough interest to cover the penalty, BECU will collect the fee from your principal.

Once your CD reaches maturity, BECU will automatically renew your CD for the same term length at the current interest rate. BECU will notify you at least 30 days in advance of your CD’s maturity date so that you have a chance to take action if you don’t want it to renew. You will also have a seven-day grace period after the CD’s maturity date when you can withdraw funds, make transfers or make any other changes.

If you’re saving for retirement, BECU offers CDs that can be used in an IRA. They carry the same rates as regular CD rates.

How Much You Earn With BECU Certificates of Deposit Over Time

The short-term CDs at BECU have low interest rates. If you contribute the minimum with a CD length of 12 months or less, you won’t make anymore than a few dollars in interest. Longer-term accounts have higher interest rates, with five-year CDs earning you the best rate. You will also earn a higher interest rate by contributing more money, regardless of the term length of your CD.

The table below shows what your total balance could look like depending on your initial deposit and your term length.

Initial Deposit 6-Month CD 12-Month CD 36-Month CD 60-Month CD
$500 $501 $504 $516 $541
$1,000 $1,002 $1,007 $1,032 $1,081
$2,500 $2,504 $2,518 $2,581 $2,703
$5,000 $5,008 $5,035 $5,162 $5,406
$10,000 $10,015 $10,070 $10,323 $10,811

How BECU CD Rates Compare to Other Banks’

As mentioned earlier, the CD interest rates at BECU are relatively low. When compared to banks like Capital One or Ally Bank, BECU generally underperforms. In particular, other banks perform better with CD terms of one year of less. BECU does offer higher rates for CDs of a few years or longer, but you only get that higher rate if you contribute more than $50,000 and if you have a Member Advantage account. Otherwise, you won’t receive the highest rates. One thing to keep in mind is that Ally Bank is an online bank. You will not be able to meet with someone in person should you want to discuss something face-to-face. Don’t forget that regardless of what kind of bank you’re looking for, SmartAsset can help you compare CD Rates.

CD Account BECU Capital One Ally Bank
6 Month 0.30% - 0.70% 0.60% 1.50%
1 Year 0.70% - 1.11% 2.25% 2.10%
3 Year 1.45% - 2.02% 2.40% 2.40%
5 Year 1.55% - 2.12% 2.80% 2.50%

Should You Get a BECU CD Account?

If you are only looking to find the highest interest rates on short-term CDs, an account with BECU may not be the best choice. This is particularly true is you are looking for short-term CDs worth less than $50,000 to the CD. If you are looking for a longer-term CD, you will have access to BECU’s highest interest rates.

The minimum deposit for a CD is $500 but you can start with only $100 if you choose one of the two Add-To CD options, which are available in one-year and two-year term lengths. The Bump CD option also gives you some flexibility as you can choose to increase your CD’s interest rate once during its term. Outside of those two options, remember that CDs are quite strict about how you can move money, and BECU CDs are no different. Your money is tied up once you put it in a CD and early withdrawals will result in a penalty of up to 90 days interest. If you need more flexibility, consider a high-interest savings account.

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Best Places to Save

SmartAsset’s interactive map highlights the places in the country where people have the opportunity to save money. Zoom between states and the national map to see the best places to save.

Rank County Median Household Income Cost of Living Purchasing Power Estimated Tax Rate

Methodology Where you live can have a big impact on how easy it is to save money based on several regional factors. Our study aims to find the most suitable places for people to save based on median household income, average living expenses and income tax burden.

First, we calculated the average cost of living in each county for a household with two adults (one working). We then created a purchasing power index for each county. This reflects the counties with the highest ratio of household income to cost of living.

To better compare income tax burdens across counties, we applied relevant deductions and exemptions before calculating federal, state and local income taxes for a family making $50,000 annual income in each location. Next, we created an effective tax rate index for each county, which reflects the counties with the lowest ratio of income taxes to the assumed $50,000 annual income.

Finally, we calculated the weighted average of the indices to yield an overall best places to save score. We used a three-fourths weighting for purchasing power and a one-fourth weighting for tax rates. We indexed the final number so higher values reflect places that are better to save.

Sources: US Census Bureau 2016 5-Year American Community Survey, MIT Living Wage Study