[Please note: This page is part of the Chicago CD Rates archive. Most of these deals on this page are not current and no longer available. Please check the date of the post before getting too excited and driving to a bank an hour away. If you have any doubts whether the deal is available, contact the bank or credit union. For a list of more current rates, visit our homepage.]
Rates in the CD world are starting to level off a bit, and some of the mid-term and even short-term CD rates are starting to come back to 4 percent and higher. But I think this is the first short-term 5 percent CD I’ve seen since early in the year: Xceed Financial Credit Union (formerly Xerox Federal Credit Union) is offering a 5-month, 5.00% APY CD. The CD has a minimum opening deposit of $500, but, unfortunately, also has a maximum opening deposit of $25,000. It is not available as an IRA CD.
Xceed Financial Credit Union is open to anyone who lives in Bensenville, Elk Grove Village, Rosemont, or “greater O’Hare.” (They don’t really define “greater O’Hare” on their website, so if you’re relatively close you might call and see if you’re eligible.) It is also open to anyone who works for Xerox or OfficeMax. They have one location in the Chicago area: 263 Shuman Blvd., Suite 1W500 in Naperville.
(Thanks to the anonymous reader who e-mailed me this deal.)