On June 17, 2024, a rate roundup listed a 10-month Nuvision Credit Union CD at 6.00% APY, while the FDIC’s national average for 12-month CDs was 1.86% for June. These figures describe different things: selected advertised offers versus a broad national benchmark. Neither should be read as a live rate today.
Reported CD offers on June 17, 2024
The offers below were reported by a contemporaneous roundup; they are historical advertised rates, not independent confirmation of account availability or complete terms.
| Provider and term | Reported APY on June 17, 2024 | Reported opening-deposit limits | Source |
|---|---|---|---|
| Nuvision Credit Union, 10 months | 6.00% | $1,000 minimum; $5,000 maximum | Googlawi / MoneyRates roundup |
| NexBank, 12 months | 5.40% | $25,000 minimum; maximum not stated in the roundup | Googlawi / MoneyRates roundup |
| CIBC Agility, 12 months | 5.36% | $1,000 minimum; maximum not stated in the roundup | Googlawi / MoneyRates roundup |
A separate AOL Finance roundup also reported NexBank’s 12-month CD at 5.40% APY with a $25,000 minimum, and offers up to 5.15% APY with low or no minimums at LendingClub, Sallie Mae, Barclays and other providers as of June 17, 2024. Those are dated reports, not confirmation that the offers remain open. AOL Finance’s June 17 roundup.
How the June national average compared
The FDIC-sourced FRED series reports a June 2024 national rate of 1.86% for 12-month CDs. The national rate is an average paid by insured depository institutions and credit unions with available data, weighted by each institution’s share of domestic deposits; it is not a ranking of the highest advertised offers. See the FRED 12-month CD rate series and the FDIC national rates page.
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The comparison is useful only with its distinctions intact: the 6.00% Nuvision figure was for 10 months and limited deposits to $5,000, while the 5.40% NexBank figure was for 12 months and required at least $25,000. A national average, a specific advertised offer, and a depositor’s actual return are not interchangeable.
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A CD is a fixed-term deposit account. Its rate is typically fixed for the term, and access to the money is restricted until maturity, subject to the account’s terms. The APY alone does not establish whether a particular CD fits your needs.
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- Term: Match the maturity date to when you may need the funds. The examples ranged from 10 to 12 months.
- Deposit limits: Check both the minimum and maximum. A high rate with a cap may apply to only part of your savings.
- Early withdrawal: Read the account disclosure for the penalty and any conditions for withdrawing before maturity.
- Eligibility: Confirm whether you can open the account and whether any membership or other requirements apply.
- Deposit insurance: Verify the institution and the account’s coverage directly; the historical roundups do not establish insured status for every listed offer.
Before acting on any historical listing, consult the provider’s current disclosures and relevant regulator databases. The June 2024 reports do not establish whether the same product, rate, or eligibility terms are available now.
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