Spectrum Credit Union Savings Accounts & CD Rates

Spectrum Credit Union CD Rates and Review male hiker standing on mountain

Table of Contents

Spectrum credit union logo

Spectrum Credit Union Rates Reviewed

Spectrum Credit Union provides personal savings accounts including competitive CD rates, money market accounts, and savings accounts. This guide will compare Spectrum Credit Union savings account, money market, and CD rates to other top bank rates in the United States. 

Table of Contents

Spectrum Credit Union CD Rates

Minimum DepositTerm (Months)APY
$500120.55%
240.55%
360.60%
480.60%
600.70%
$100,000 120.60%
240.60%
360.65%
480.65%
600.75%
$250,000 120.65%
240.65%
360.70%
480.70%
600.80%

Spectrum CU Savings & Checking Account Rates

Spectrum Credit Union RatesMinimum BalanceAPY
Primary Share Savings$25.000.30%
Member Checking$00.10%
HSA Checking$00.10%
New Solutions Checking$00.00%
MySavings Youth$07.00%
Accumulative IRA/ Roth IRA$00.30%

APY = Annual Percentage Yield 

CDs vs Fixed Annuity

A multi-year guaranteed annuity (MYGA) is essentially a CD that is issued by an insurance company rather than a bank. The table below compares and contrasts some of the key differences and similarities between the two.

FEATURESFIXED ANNUITYCD
Issued ByInsurance CompaniesBanks
Investment Amount$2,000 - $1,000,000Essentially Any Amount
Investment Term2 years - 10 years3 months - 5 years
Interest Rates (APY)Varies by product.Varies by bank, term and investment amount.
LiquidityUsually, 10% annually or interest earned.Almost always accumulated interest.
GuaranteesBacked by Insurer & State Guaranty Associations.Backed by the FDIC.
Death BenefitMay avoid probate.Probate process required.

Today's Best Guaranteed Annuity Rates

Fixed annuity rates are guaranteed for a set number number of years.

TermInsurerCompany DetailsAnnuity RateAM BestApplication
2 Years Oceanview life and annuity logo OceanviewHarbourview 4.90%A-Apply
3 Years Farmers life insurance company logo Farmers LifeSafeguard Plus5.50%B++Apply
4 Years Americo annuity logo AMERICOPlatinum Assure5.20%AApply
5 Years Ibexis annuity logo Ibexis MYGA Plus5.90% SimpleA-Apply
6 Years Equitrust annuity logo EquiTrustCertainty Select5.65%B++Apply
7 Years Americo annuity logo AMERICOPlatinum Assure5.55%AApply
8 Years Equitrust annuity logo EquiTrustCertainty Select5.70%B++Apply
9 Years American national annuity logo American NationalPalladium MYG5.10%AApply
10 Years Equitrust annuity logo EquiTrustCertainty Select6.00%B++Apply

Types of Annuities Overview

FeaturesVariable
Annuity
Index
Annuity
Fixed
Annuity
Immediate
Annuity
Longevity
Annuity
Principal ProtectionNoYesYesYesYes
Liquidity OptionsYesYesYesNoNo
Maintain Control of AssetYesYesYesNoNo
Tax-DeferralYesYesYesNoNo
Guaranteed RateNoNoYesNoNo
Guaranteed IncomeYesYesYesYesYes
Cost of Living Adjustments (COLA)YesYesNoYesYes
Death BenefitYesYesYesYes/NoYes/No
LTC EnhancementsYesYesYesNoNo

Today's Top CD Rates

3 Month CD Rates

BankRateTermMinimum
TotalDirect Bank5.16% APY3 Months$25,000.00
Ponce Bank N.A.5.15% APY3 Months$50,000.00
Brilliant Bank5.10% APY3 Months$1,000.00
Alliant Credit Union4.50% APY3 Months$1,000.00
Popular Direct4.50% APY3 Months$10,000.00

12 Month CD Rates

BankRateTermMinimum
Evergreen Bank Group5.50% APY13 Months10000
NexBank5.40% APY12 Months25000
BrioDirect5.35% APY12 Months500
Bread Savings5.25% APY12 Months1000
Barclays4.80% APY12 Months0

2 Year CD Rates

BankRateTermMinimum
U.S. Senate Federal Credit Union5.28% APY24 Months1000
Summit Credit Union5.25% APY22 Months5000
Idabel National Bank5.05% APY24 Months1000
Bread Savings5.00% APY24 Months1500
PenFed Credit Union4.45% APY24 Months1000

3 Year CD Rates

BankRateTermMinimum
U.S. Senate Federal Credit Union5.23% APY36 Months1000
Quorum Federal Credit Union4.85% APY36 Months1000
Popular Direct4.55% APY36 Months10000
Bread Savings4.50% APY36 Months1500
Barclays4.30% APY36 Months0

4 Year CD Rates

Best 4-Year CD RatesRateTermMinimum
NASA Federal Credit Union4.85% APY49 Months10000
GTE Financial4.85% APY48 Months500
First National Bank of America4.50% APY48 Months1000
Bread Savings4.35% APY48 Months1500

5 Year CD Rates

BankRateTermMinimum
Lafayette Federal Credit Union4.68% APY60 Months500
Department of Commerce Federal Credit Union4.67% APY60-84 Months25000
GTE Financial4.54% APY60 Months500
Popular Direct4.53% APY60 Months10000
Bread Savings4.25% APY60 Months1500

CD Interest Calculator

Use the interest calculator below to see how much interest an annuity or CD will pay you monthly. Enter your initial investment amount, the fixed annuity or CD rate and term in the calculator below then hit CALCULATE.  

What is a CD (Certificate of Deposit)?

Definition: A CD, or certificate of deposit, is a bank account with a fixed interest rate that’s generally higher than that of a regular savings account, and a fixed date of withdrawal, known as the maturity date. Common terms range from three months to five years.

Pros: The ability to lock in rates when they’re high is one of the most attractive features of a CD, especially since regular savings accounts have variable rates subject to change at any time. Even outside of high-rate environments, though, CDs provide a safe, federally insured place for short-term savings.

Cons: You’ll generally have to pay a penalty if you withdraw your money before a CD matures; the penalty can be equal to several months or a year’s worth of interest.

What else to consider: Fixed Annuities provide guaranteed rates for a set number of years and typically pay higher interest rates than a CD.

How Much Interest Do CD's Pay?

Use our compound interest calculator to see how much a Certificate of Deposit will pay you monthly or annually. 

How to Calculate a CD Rate's Real Rate of Return

In 18 of the past 30 years, CDs have had a negative return (after taking into account the impact of taxes and inflation), and in three of the positive years, they earned less than a 1% real rate of return.

Have you considered the impact that taxes have on interest?  Or, have you accounted for the impact inflation may have on your overall rate of return?

Generally, the interest received in these types of vehicles may not keep pace with inflation. This could mean lower purchasing power for you over time. Also, at renewal, a new rate along with a new withdrawal penalty may apply.

Here’s a quick way to determine your CD’s real rate of return:

Diagram showing how to calculate the real rate of return of a cd rate using a 3-step process.

Frequently Asked Questions


While not FDIC insured, State Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent. Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.”  Financial Industry Regulatory Authority (FINRA).  Visit FINRA’s Fixed Annuities Webpage

You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.

Fixed Annuities do not have any fees or expenses unless you add an additional rider that was not mentioned on this page.

A no-penalty CD is a type of CD that doesn’t have a penalty for withdrawing money before the term ends. It can be appealing if you want the traditionally higher yield of a CD, compared to regular savings accounts, but you might need the money sooner than you expect.

Most CDs have an early withdrawal penalty that tends to range from several months to a year’s worth of interest earned, depending on the CD term length and the bank’s policy. No-penalty CDs are the only type of CD that lets you withdraw money from a CD early without a fee.

Request an Annuity Quote

Jason Caudill Picture standing chest up.
NBC logo
ABC Logo
fox logo
MarketWatch logo
Investopedia logo
CBS Logo
My Annuity Store, Inc. Logo
Request an Annuity Quote