{"id":3261,"date":"2024-07-22T15:04:52","date_gmt":"2024-07-22T22:04:52","guid":{"rendered":"https:\/\/www.cdvalet.com\/blog\/?p=3261"},"modified":"2025-12-17T12:35:52","modified_gmt":"2025-12-17T20:35:52","slug":"cd-valet-ratewatcher-the-top-cdfi-cd-rates-of-2024","status":"publish","type":"post","link":"https:\/\/www.cdvalet.com\/insights\/cd-valet-ratewatcher-the-top-cdfi-cd-rates-of-2024\/","title":{"rendered":"CD Valet Ratewatcher: The Top CDFI CD Rates of August 2024"},"content":{"rendered":"\n

What if your savings could grow your wealth and drive positive social change? Community Development Financial Institution (CDFI) certificates of deposit (CDs) make this possible. CDFIs can be surprisingly high-rate payers for CDs and while some offers are geographically restricted, there are also nationwide CDFIs with attractive rates that are worth a look.

A CDFI specializes in serving low-income or underserved communities. Your CDs at a CDFI are the same as CDs at other federally insured financial institutions and you\u2019ll know that the funds are being used to promote economic development and community growth, advance financial inclusion, and support affordable housing. It\u2019s a way to make your money work for you and others in a meaningful way.<\/p>\n\n\n\n

Check out our Ratewatcher Top CDFI Rate Picks for the top CD rates:<\/p>\n\n\n\n

Credit Unions                                         Banks<\/strong><\/h2>\n\n\n\n
5.40% APY*
13-Month
$1,000 minimum deposit
Blue Coast FCU (FL) <\/a>
Insured by NCUA<\/td>		5.15% APY*
6-Month
$500 minimum deposit
Community Bank (TN) <\/a>
Member FDIC<\/td><\/tr>
5.25% APY*
12-Month
$1,000 minimum deposit
Bragg Mutual FCU (NC) <\/a>
Insured by NCUA<\/td>		5.10% APY*
5-Month
$2,500 minimum deposit
Bank of Zachary (LA) <\/a>
Member FDIC<\/td><\/tr>
5.15% APY*
12-Month
$500 minimum deposit
Acadia FCU (ME) <\/a>
Insured by NCUA<\/td>		4.85% APY*
12-Month posit
Fidelity Bank (AR) <\/a>
Member FDIC<\/td><\/tr>
5.15% APY*
7-Month
$25,000 minimum deposit
Alltru FCU (MO) <\/a>
Insured by NCUA<\/td>		4.60% APY*
6-Month
$250,000 minimum
deposit
First Southwest Bank (CO) <\/a>
Member FDIC<\/td><\/tr><\/tbody><\/table>
* Annual Percentage Yields (APY) not offered by CD Valet but based on data from various institutions as of 07\/22\/24 and subject to change. Early withdrawal penalty may apply. Fees may reduce earnings. Additional restrictions may apply.<\/figcaption><\/figure>\n\n\n\n

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What is a CDFI CD?<\/h2>\n\n\n\n

A CDFI CD provides savers with great returns and peace of mind knowing funds are being used to promote economic development, community growth, financial inclusion, and affordable housing to low-income and underserved communities.\u00a0<\/p>\n\n\n\n

Where to Find the Top CDFI CD-Rates?<\/h2>\n\n\n\n

The majority of CDFIs offering CDs can be found on CD Valet<\/a>. Ratewatchers report that 32% of the CDFIs listed on CD Valet offer rates of 4% and higher. CD Valet compares over 31,000 rates from 4,100 banks and credit unions nationwide, making it easy to find the highest yields. You can check to see if a financial institution is a CDFI by looking it up on the CDFI listing on CDFI Fund\u2019s website<\/a>.    <\/p>\n\n\n\n

Why Should I Consider a CDFI CD?<\/h2>\n\n\n\n

CDFI CDs offer competitive rates, and guaranteed returns, and are either FDIC or NCUA-insured. They allow you to make socially responsible investments while earning competitive returns on your savings.<\/p>\n\n\n\n

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