Are you ready to put your money in the bank for five whole years? If you are, then you might want to check out the top CD rates of Chaffey Federal Credit Union in California. While the account is only offered locally, it remains one of the most competitive CD rates today.

For the five-year CESA CD, you can earn as much as 3.55% APY. The yield gets smaller for shorter CDs, but they’re almost as attractive. The 3-year- CESA CD earns 2.55% APY, the 5-year regular CD earns 3.49% APY, and the 3-year regular CD earns 2.42% APY.

Both regular CDs require $10,000 minimum deposit, while the CESA CDs require only $2,000. You might want to check the bank’s website once in a while for updates, though, because these rates tend to fluctuate. They can be competitive today, and pretty low tomorrow. Taking advantage of the high rates now is a smart move.

Another clincher is that you need to be an employee, a student, or a parent of a student in the credit union’s school system before you can qualify for an account. A $10 opening fee is also necessary, as well as a minimum balance of $5 deposited to a separate, regular savings account. You might want to call the bank first before you submit your application because there are requirements which aren’t stated online.

Because these CDs are only available to a select number of people, you will also need to make a personal appearance at one of the bank’s branches to complete the application. You can find branches of the Chaffey FCU installed in several cities in California including Walnut, Ontario, Rancho Cucamonga and La Puente. While the requirements seem stringent, they remain the highest CD rates in the market this month.

So far, the bank has been getting mixed feedbacks from reviewers. It earned four stars from BauerFinancial, and a mysterious 2 stars from Bankrate.com. The bank is insured with the NCUA under Charter # 16030.