At a time when U.S. interest rates remain elevated compared to recent years, savers are finding a window of opportunity to lock in attractive yields. On July 3, 2025, a new certificate of deposit (CD) offer landed on the scene: Genisys Credit Union is now offering a nation-leading 4.60% annual percentage yield (APY) on a 19-month CD. That puts it on equal footing with Northern Bank Direct’s 6-month CD, which holds the same high APY. For those looking to stash away cash in the short to medium term, these could be excellent options.
CDs have long been the go-to choice for conservative investors. They're simple, safe, and predictable: you deposit your money, and the bank guarantees a fixed interest rate over a set period. No surprises, no market swings. Retirees especially appreciate this stability. Take Margaret, a 72-year-old retiree living in Phoenix, Arizona. “I don’t need big returns—I just want to know when and how my money comes back. That’s what helps me sleep at night,” she chuckled while sorting coupons at her kitchen table.
This spike in CD yields can largely be traced back to the Federal Reserve’s monetary policy in recent years. Between 2022 and 2023, the Fed hiked interest rates aggressively in an effort to curb inflation. The federal funds rate climbed to its highest level since 2001, which in turn pushed CD rates to levels not seen in over a decade. For a brief moment in late 2023, some CD offers even hit the 6% mark. While that peak has now passed, today’s 4.60% still looks generous—especially compared to early 2022, when the best CD rates in the country hovered between 0.50% and 1.70%.
But many experts agree: the window may be closing. While the Fed has kept rates steady through the first four meetings of 2025, more rate cuts could be on the horizon. Inflation data is still being digested, and geopolitical uncertainty—including the Trump administration’s paused tariff initiatives—means the Fed is treading carefully. Still, the risk of rate reductions later this year looms large.
What does this mean for everyday savers? If you’ve got cash sitting idle, now might be the time to act. Longer-term CDs can lock in today’s rates through 2029 or even 2030. Lafayette Federal Credit Union, for example, is offering 3- and 5-year CDs at 4.28%, while NASA Federal Credit Union is sweetening the deal with a 49-month CD at 4.40%.
Take Amy and Mike, a couple in Pasadena, California. After selling an investment property, they found themselves with an extra $100,000 in cash. Rather than diving into the unpredictable stock market, they chose to put $50,000 into a 2-year CD earning 4.50%. “We looked at ETFs and bonds, but the volatility just didn’t sit well with us. With a CD, we know exactly what we’re getting,” Amy explained.
Jumbo CDs—those that require larger minimum deposits, often $100,000 or more—can offer slightly better returns, although not always. In today’s market, they only outperform standard CDs in a couple of time frames. For example, Hughes Federal Credit Union is offering a 3-year jumbo CD at 4.34%, beating the top standard rate of 4.28%. Similarly, GTE Financial has a 5-year jumbo CD at 4.33%, again slightly edging out the regular rate.
Regardless of the product, one thing is clear: your deposits are protected. CD accounts held at banks (via FDIC) or credit unions (via NCUA) are insured up to $250,000 per depositor, per institution. That’s a big deal for cautious savers, who can rest easy knowing their money is backed by the federal government.
Looking back at the rollercoaster of the past few years, one lesson stands out: opportunities like these don’t last forever. Interest rate cycles change, and today’s top rates may soon be a thing of the past. When you can still lock in 4.60% with peace of mind, why wait?
As with most financial moves, timing is everything. And in the case of CDs, the clock may be ticking faster than you think.