The First Trade Union Bank invites consumers to take advantage of putting their money in the bank through very competitive certificate of deposits that has the following current cd rates: 2.85% APY (13 months), 2.90 % APY (18 months), and 3.30% APY (36 months).

These certificates of deposits require a minimum opening deposit of $500. According to bank representatives, these top cd rates can be enjoyed by people from any state. These are also available as IRA CD’s. There are also other tiered certificates but those mentioned here are the most competitive looking at the current market rates.

The fine prints on the rates page of the bank discloses that the rates may change after opening of the account. The 3 year certificate of deposit credit and compounds interest on a monthly basis. The 18 month cd credits and compounds interest on a quarterly basis.

Application can be started online through a secured portal. This also allows for funding of the account via ACH transfer. An acknowledgment part during the online application will force one to tick a box which is like agreeing to third party consumer reporting. It will be best to check with the bank if they will do a hard credit pull upon application. You can also ask about early withdrawal fees which will affect the earnings of the certificates of deposit.

The First Trade Union Bank is headquartered in Boston with branches in New York, Rhode Island, and Massachusetts.

The bank has excellent ratings from BauerFinancial and bankrate.com which issued 5 and 4 stars, respectively, when they reviewed the financial soundness of the bank using their September 2008 data.

The bank is covered by the FDIC with certificate # 32551.