Why You Can Trust CNET Money

Best 1-Year Credit Union CD Rates (Share Certificates)

Rates are close to 5% for some credit unions, but you’ll need to meet membership requirements first.

A certificate of deposit lets you earn interest on a sum of money with a fixed annual percentage yield, or APY, over a fixed period of time, or term. CDs are a good savings option to park money for a few months or years with minimal risk of losing your earnings.

If you need to access the money before it fully matures, you’ll often pay an early withdrawal penalty that can reduce your interest earnings. Most CD options require a single deposit and don’t allow additional deposits, so you’ll need to gather your funds before opening an account. When you’re ready to open a CD, compare the best terms and rates among local credit unions and banks to find the right fit for your savings.

Best 1-Year Credit Union CD Rates
  • City Credit Union 5.00% APY, $1,000 Min. deposit to open, 1-year Term
  • Credit Human 5.00% APY, $500 Min. deposit to open, 1-year Term
  • Freedom Credit Union 5.37% APY, $500 Min. deposit to open, 1-year Term
  • Connexus Credit Union 4.76% APY, $5,000 Min. deposit to open, 1-year Term
  • America First Credit Union 5.15% APY, $500 Min. deposit to open, 1-year Term
  • Alliant Credit Union 5.40% APY, $1,000 Min. deposit to open, 1-year Term
  • PenFed Credit Union 4.80% APY, $1,000 Min. deposit to open, 1-year Term
Helpful Definitions
Certificate of deposit (CD)

A type of savings account in which a lump-sum deposit accrues interest at a fixed rate for a fixed term, usually with an early withdrawal penalty.

Annual percentage yield (APY)

A CD’s interest rate that represents the return from the compounded interest you’ll earn in 12 months on your deposit. The higher the APY, the faster your money grows.

CD term

The fixed period in which your deposit earns interest. The maturity date is the end of the term, which can range from one month to 10 years or more.

Early withdrawal penalty

The fee for withdrawing your CD funds before maturity, often equalling a period's worth of interest, which varies by institution and length of CD term.

Share certificate

Similar to a CD, but issued by a credit union, in which a credit union member deposits a lump sum that accrues interest for a fixed term.

Toni Husbands is a staff writer with CNET Money who enjoys exploring topics that promote financial wellness. She began writing about personal finance to document her experience paying off $107,000 of debt, which is detailed in her book, The Great Debt Dump. Previously, she contributed as a freelance writer for websites, including CreditCards.com, Centsai and Wisebread. She was also a regular contributor to Business AM TV, and her work has been featured on Yahoo News. Being a part-time real estate investor and amateur gardener also brings her joy.
Dashia is a staff editor for CNET Money who covers all angles of personal finance, including credit cards, banking and consumer spending. From reviews to news coverage, she aims to help readers make more informed decisions about their money. Dashia was previously a staff writer at NextAdvisor, where she covered credit cards, taxes, banking B2B payments. She has also written about safety, home automation, technology and fintech.
Advertiser Disclosure

CNET editors independently choose every product and service we cover. Though we can’t review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site.

Editorial Guidelines

Writers and editors and produce editorial content with the objective to provide accurate and unbiased information. A separate team is responsible for placing paid links and advertisements, creating a firewall between our affiliate partners and our editorial team. Our editorial team does not receive direct compensation from advertisers.

How we make money

CNET Money is an advertising-supported publisher and comparison service. We’re compensated in exchange for placement of sponsored products and services, or when you click on certain links posted on our site. Therefore, this compensation may impact where and in what order affiliate links appear within advertising units. While we strive to provide a wide range of products and services, CNET Money does not include information about every financial or credit product or service.