The Credit Union of New Jersey has a special 10% APY 10-month certificate of deposit rate. The minimum and maximum deposit if $1,000. Only one high rate CD is available per account number. It requires a checking or money market account. They also offer a free checking account. This CD offer last until December 30, 2006. Also new money is a requirement.

One there is a $1,000 cap, it’s not the greatest deal around. You can make about $42 more than keeping it in a 5% savings account, since the cd rates are higher.
The field of membership includes those who live,work or worship in the Ewing Township. There’s also a long list of select employer groups. Family members are also eligible, and note, they include aunts, uncles, in-laws and cousins.

This credit union is NCUA insured. It has $209 million in assets with 34,577 members.

6-Month Certificate of Deposit Rates at AmTrust Direct are one of the highest in the nation. There is only a $1,000 minimum to open an account. AmTrust is a very reputable bank, and I have dealt with them in the past.

GSA Federal Credit Union has many high yield share certificates. With a term of 24 months and longer. These include a 60-month cd with 6.18% APY, 48-month CD with 6.17% APY, 36-month CD with 5.91%, and a 24-month CD with 5.65% APY. The minimum deposit is $1,000.

The field of membership is employer based. Eligible employers include the General Service Administration, the Equal Emplyment Opportunity commsion, Nation Achives and serveral other organizations. See their site for more detials. Branches are also located in Washington, DC.

This credit union is NCUA insured. With $25 million in assets and 5,556 members.

Family First FCU provides higher rates on certificate of deposit accounts than any other bank in Utah. These include a 6% APY 5-year CD, a 5.75% APY 4-year CD and a 5.59% APY 3-year CD. all have a minimum of $500, and an early withdrawal penalty of 90 days if ubterest. These are also available for Individual Retirement Accounts.

The credit union’s field of membership includes anyone who lives,work or attends school in the Utah County. Utah County is located 44 miles south of Salt Like City. The County Seat is the city of Provo. Also you can be eligible to join if you have a family member who meets the above requirements. The family member doesn’t already have to be a member of the credit union also.

This credit union is federally insured by the NCUA. It has $146.5 million in assets and over 27,234 members. This credit union also has a record of high CD rates.

High CD rates has many high rate certificates. One of the highest rate is a 5.90% APY 60-month CD. The 12-month, 24-month and 36-month CD’s have an APY of 5.64%. These rates do require the member to be in the Diamond Rewards leve. According to the CSR, you can qualify for this by opening a CD with a minimum deposut if $75,000. So effectively, the highest cd rates have a minimum deposit requirement of $75,000.

The field of membership includes members of public radio (KNPR 88.9 and KCNV 89.7). Anyone can be a member of KNPR via a $40 one-time donation (KNPR’s membership page). According to the CSR, they do accept membership applications by mail. It requires a notarized signature. Note, they do a hard credit pull and require your credit score to be above 550. Please contact the credit union for more info. Their toll-free numbre is 1-800-748-6885.

One more important note about this credit union is that they are not federally insured by the NCUA. Instead, the credit union is privately insured by ASI. The include a page describing this insurance. You can confirm that they’re listed in the ASI’s cd rates database here.

Credit Union West is now offering a 5.80% APY 5-year IRA certificate. The minimum deposit is $50,000 for this rate. A 5.75% APY CD is available for a minimum deposit of $10,000. The regular 60-month certificate is also competitive with an APY of 5.55% for $50,000 minimum and 5.50% for $10,000.

The field of membership includes anyone who lives,work or worships in Maricopa County, Arizon. Branches are located in Glendale, Avondale, Phoenix, Peoria and Surprise.

This creidt union is federally insured by the NCUA. It has $291 million in assets and 30,544 members.

Now that Democrats have control of Congress, Federal Reserve chairman Ben S Bernanke may find it difficult to establish an inflation target on certificate of deposit rates. For the first time in 12 years, Democrats have captured the House of Representative and taken control of the Senate. The Democrats sealed their Senate majority when Jim Webb defeated Republican incumbent George Allen.

Massachusetts Representative Barney Frank, Rhode Island Senator Jack Reed, and other Democrats prefer the Fed focusing on promoting growth as well as containing inflation. Some legislators advocate the Fed to adopt a target for employment as well as prices. According to Tom Gallagher, senior managing director at International Strategy & Investment Group in Washington, the Democrats would give Bernanke a tougher time than the Republicans on inflation targets. Bernanke says a target would help cement the Fed’s credibility as an inflation-fighter and make it easier to manage the economy. Supporters think if he is unable to press ahead, those aims might be damaged. According to Adam Posen, a senior fellow at Peterson Institute for International Economics, Washington, the Federal Reserve’s political legitimacy and ability to respond flexibly to shocks to the economy would be impaired.

Bernanke affirmed in his Senate confirmation hearing last year that the independent Fed can adopt a numerical target for inflation on its own. However, he’s unlikely to proceed without at least the implicit support of key policymakers. Under current law, the Fed has a mandate for both price stability and full employment. Bernanke thinks the adoption of an inflation target would boost rather than hamper the Fed’s ability to achieve both goals. Maryland Senator Paul Sarbanes has time and again challenged Bernanke over targets. Sarbanes, who’s retiring, expressed concern that the Fed would become too focused on inflation, to the loss of promoting growth. Reed, another Democratic member of the Banking Committee, has also warned Bernanke against adopting a rigid rule to guide monetary policy. Fortunately,  the highest cd rates are still availible at many online banks.

Alright heres a great tip for finding the local credit union deals. The Credit Union Nation Association has a very great cd rates locator tool. All you have to do is enter your zip code and all the nearby credit unions will be shown. Some other locators will just show the creidt unions which are based in your zip code. This one shows the credit union that may be based elsewhere but have branched in your zip code, for the best cd rates. I’m afraid there’s no easy way to find the best deals from the list it shows but you can get the web address of each credit union by click on the detail button. Then you can search each credit union’s website to see the deals they have.

Los Angeles Firemen’s Credit Union is now offering a 4 month 6.70% APY IRA certificate. New money is required.

The field of membership includes active and retired full-time, paid, professional firefighters within the State of California. See the site for more detials. The main office is located in Pasadena, California.

The best cd rates at this credit union is not federally insured by the NCUA. It is privately insured by the ASI. You can also confrim that they are in the ASI’s database here.

Piedmont Bank is now offering a 5.75% APY on certificate of deposit terms from 12 to 60 months. The minimum is $1,000, and these are available as regular or IRA CDs. Also, these are available as business CD’s. Interest may be credited to the CD or paid by check.

Highest CD rates are located in Atlanta and Norcross, Georgia. On the rates page, it states that “Rates and terms offered are limited to Piedmont Bank’s market area.”

The bank has been FDIC insured since 2001. It has a safe and sound rating of 4 out of 5 stars at bankrate.com.