When it comes to saving money, Michiganders have a variety of options at their fingertips. The most reliable and straightforward one is Certificate of Deposits.

CDs in Michigan come with competitive interest rates that can help your savings grow more over time. In this regard, finding the best CD rates in this state can significantly impact your savings strategy. Let’s dive into how you can maximize your savings with the best CD opportunities Michigan has to offer.

Overall Best CD rates in Michigan

No.Bank NameAPYTerm LengthAddress
1Portland Federal Credit Union5.41%18-month9864 Cherry Valley Ave SE Caledonia, MI 49316
2Sagelink Credit Union5.41%18-month9189 Miller Rd Swartz Creek, MI 48473
3Advia Credit Union5.35%7-month550 S. Riverview Dr., Parchment, MI 49004
4Christian Financial Credit Union5.13%18-month35100 Van Dyke Ave Sterling Heights, MI 48312
5Motor City Cooperative Credit Union5.13%18-month37321 Garfield Rd Clinton Township, MI 48036
6First National Bank of America5.05%18-month315 N Division St Traverse City, MI 49684
7First National Bank of America5.05%12-month241 E Saginaw St East Lansing, MI 48823
8Option 1 Credit Union5.05%12-month2250 Lake Lansing Rd Lansing, MI 48912
9Lake Trust Credit Union5.05%10-month4605 S. Old US Highway 23, Brighton, MI 48114
10Public Service Credit Union5.00%9-month7665 Merriman Rd., Romulus, MI 48174
11Mercantile Bank of Michigan4.91%12-month3737 Coolidge Rd East Lansing, MI 48823
12Dow Chemical Employees’ Credit Union4.90%18-month600 E Lyon Rd P.O. Box 1649 Midland, MI 48640
13LAFCU4.70%12-month1505 Kyle St Eaton Rapids, MI 48827
14Lansing Postal Community Credit Union4.70%12-month4600 Collins Rd PO Box 22098 Lansing, MI 48910
15Citizens Community Federal National Association4.65%18-month310 W Tienken Rd Rochester Hills, MI 48306
16Lake Michigan Credit Union4.65%18-month35653 Dodge Park Rd Sterling Heights, MI 48312
17Consumers Professional Credit Union4.65%12-month525 W Willow St Lansing, MI 48906
18PenFed Credit Union4.50%18-monthOnline
19Hastings City Bank4.50%18-month124 W Michigan Ave Marshall, MI 49068
20Lenco Credit Union4.50%15-month1455 E US Highway 223 Adrian, MI 49221
21Northern Trust Company4.45%18-month161 Ottawa Ave NW Grand Rapids, MI 49503
22Huron Community Bank4.25%18-month423 E Main St Harrisville, MI 48740
23River Valley Bank4.25%18-month56500 US Hwy 41 Calumet, MI 49913
24Gabriels Community Credit Union4.25%12-month1901 E Michigan Ave Lansing, MI 48912
25Michigan State University Federal Credit Union4.25%12-month1133 S Cedar St Mason, MI 48854
26PrivateBank and Trust Company4.18%18-month38505 Woodward Ave Bloomfield Hills, MI 48304
27Grand River Bank4.17%18-month4471 Wilson Ave SW Grandville, MI 49418
28Journey Federal Credit Union4.17%12-month1090 Baese Ct Ovid, MI 48866
29Michigan State University Federal Credit Union4.10%18-month311 Abbot Rd East Lansing, MI 48823
30ChoiceOne Bank4.05%3-month109 E. Division St., Sparta, MI 49345
31Zeal Credit Union4.01%18-month17250 Newburgh Rd., Livonia, MI 48152
32Mercantile Bank of Michigan4.00%18-month5444 State St Saginaw, MI 48603
33CP Federal Credit Union4.00%12-month103 E Kipp Rd Mason, MI 48854
34Lake Trust Credit Union4.00%12-month6440 S Pennsylvania Ave Lansing, MI 48911
35SSBBank4.00%12-month122 W Main St PO Box 427 Stockbridge, MI 49285
36Northpointe Bank4.00%18-month3333 Deposit Dr. NE, Grand Rapids, MI 49546
37Isabella Community Credit Union4.00%12-month2100 E Remus Rd., Mt Pleasant, MI 48858
38ELGA Credit Union4.00%12-month2305 S. Center Rd., Burton, MI 48519
39Metro Shores Credit Union4.00%18-month2360 +A1:E64W. Jefferson Ave., Trenton, MI 48183
40MidMichigan Community Credit Union3.93%6-month4976 E. Broadway St., Mt Pleasant, MI 48858
41LOC Federal Credit Union3.92%18-month10002 Highland Rd Hartland, MI 48353
42Dort Federal Credit Union3.86%6-month2845 Davison Rd., Flint, MI 48506
43Union Bank3.75%12-month202 E Main St Westphalia, MI 48894
44Monroe Bank & Trust (now part of First Merchants Bank)3.68%12-month102 E. Front St., Monroe, MI 48161
45Safe Harbor Credit Union3.45%12-month1200 E. Tinkham Ave., Ludington, MI 49431
46AAC Credit Union3.45%24-month904 Broadway NW, Grand Rapids, MI 49504
47Credit Union ONE3.09%6-month400 E. Nine Mile Rd., Ferndale, MI 48220
48Vibe Credit Union3.00%3-month44575 W. 12 Mile Rd., Novi, MI 48377
49Frankenmuth Credit Union3.00%12-month580 N. Main St., Frankenmuth, MI 48734
50Omni Community Credit Union3.00%3-month6622 Beatrice Dr., Kalamazoo, MI 49009
51United Bay Community Credit Union3.00%12-month1309 N. Lincoln Ave., Bay City, MI 48708
52First State Bank2.98%36-month41240 Hayes Rd., Clinton Township, MI 48038
53West Michigan Credit Union2.68%12-month1319 Front Ave. NW, Grand Rapids, MI 49504
54Central Savings Bank2.47%18-month3501 I 75 Business Spur Sault Sainte Marie, MI 49783
55Honor Credit Union2.00%48-month8385 Edgewood Rd., Berrien Springs, MI 49103
56Kalsee Credit Union1.86%60-month2501 Millcork St., Kalamazoo, MI 49001
57First National Bank of Michigan1.80%36-month348 W. Michigan Ave., Kalamazoo, MI 49007
58Tandem Federal Credit Union1.78%12-month21043 Mound Rd., Warren, MI 48091
59Community Choice Credit Union1.68%6-month31155 Northwestern Highway, Farmington Hills, MI 48334
60Level One Bank1.45%3-month32991 Hamilton Ct., Farmington Hills, MI 48334
61University of Michigan Credit Union1.25%24-month340 E. Huron St., Suite 100, Ann Arbor, MI 48104
62Genisys Credit Union1.00%36-month2100 Executive Hills Blvd., Auburn Hills, MI 48326
63Michigan First Credit Union1.00%60-month27000 Evergreen Rd., Lathrup Village, MI 48076

Current CD Rates of Michigan

The current CD rates in Michigan reflect the broader economic landscape. With rates varying by term length and financial institution, this (CDs) fixed-income investments provide a secure way for Michigan residents. They grow their savings with guaranteed returns. The banks and credit union are approached by the residents for their convenience and fixed terms.

Banks/ Credit Union Choices

Some of the most significant banking approaches to pick are elaborated below with fine details.

  1. Ally bank

Savings APY:  2.25%

CD APY: 6-month – 2.75%, 1-year – 4.00%, and 3-year or above – 4.10% with no minimum deposit.

Monthly Fees: $0

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? There are no brick-and-mortar stores of Ally bank, however, it allows you to access Allpoint ATM (50,000) and reimburses up to $10 of out-of-network ATM fee charged per statement cycle

Featured Product Offerings: Ally bank offers an online-only savings account with an interest rate of 3.00%. Apart from that, it offers all the usual banking services to its customers.


  • High-yield interest rate on savings account
  • Best customer service
  • Convenient only banking


  • No physical stores

Ally bank is an online bank with no brick-and-mortar store available. However, it has a mobile application that helps you do banking transactions easily. The interest rates of Ally bank are highest for both savings and CDs. It was founded in 2009. This online bank, which was established in 2009, is renowned for its reasonable rates, quick customer service, and cheap fees. An array of personal banking products and services are available through full-service online bank Ally Bank, including checking, savings, money market, CD, mortgage, auto, and personal loans, as well as investing and retirement services.

  1. Fifth Third Bank

Savings APY:  0.01%

CD APY: 0.01% to 2.50%

Monthly Fees: $5

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? Fifth Third Bank has 1,090 branches across 11 states of America and more than 50,000 fee-free ATMs nationwide.


  • Low minimum deposits are required for CDs
  • Robust mobile banking and online banking infrastructure
  • Reliable network of ATMs across the country


  • Presence in only 11 states of America
  • Low yield rates as compared to other banks

Fifth Third Bank came into existence when two institutions- the Fifth National Bank and the Third National Bank- merged in 1909. The bank had a state charter status until 2019 when it got the national charter. It is ranked 415th on the Fortune 500 and is one of the largest banks in America.

The bank deals in all types of financial products including Consumer banking, Corporate banking, Private banking, Financial Analysis, Insurance, Investment banking, Mortgage loans, Private Equity, Wealth Management, Credit cards, and more. Fifth Third Bancorp’s total assets in 2021 were $205.55 billion and it had 19,112 employees working for the bank. The bank is dedicated to serving the needs of the community and is the first in America to set up a charitable foundation.

  1. PNC Bank

Savings APY:  0.01% to 0.03%

CD APY: 1-year – 0.02%, 3-year – 0.02%, and 5-year – 0.02% with a minimum deposit of $1,000.

Monthly Fees: $7

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? The PNC bank has in total 2,629 branches and 9,523 ATMs and is present in around 27 states.


  • Different customer service options available.
  • Many branches and ATMs.
  • Online money management options.


  • Rates differ from area to area.
  • Overdraft fees are expensive.

PNC Bank is headquartered in Pittsburgh, Pennsylvania, and employs nearly 60 thousand people. It was founded on April 10, 1845, and currently has total assets of US $557 billion.

PNC Bank is a financial institution that provides banking, investing, and other financial services to individuals, small businesses, and commercial clients. PNC Bank offers a variety of checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts.

PNC Bank has been operating for more than 170 years and it has been ranked as one of the best banks in the United States. It provides services to all 50 US states, as well as to international customers.

  1. Chase Bank

Savings APY:  0.01% (the rates are variable)

CD APY: 0.02% for 1 month CD term, with a minimum deposit amount of $1000

Monthly Fees: $0-$5 on Chase Savings; up to $25 on checking accounts

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? Chase Bank has more than 4,700 branches and 16,000 ATMs across the United States. In Massachusetts, the bank has branches and ATMs in 102 locations.


  • Nationwide presence with a broad range of banking products and services to choose from
  • Waivable monthly service fees
  • Earn an attractive bonus when you open a checking account
  • Mobile and online banking facilities that make transactions hassle-free and fast


  • Comparatively lower APY on savings and CD accounts
  • Monthly fees on certain checking accounts can be as high as $25

Chase Bank is one of the largest banks in the United States, offering an array of banking and financial services. These include personal savings & checking accounts, mortgages, credit cards, auto loans, business lending, investments, and payment processing.

Established in 1799, it is one of the oldest banks in the U.S., serving its customers for more than 223 years. In addition to its global presence in 100 countries across the world, it brings banking on the go through its online and mobile banking platforms.

  1. Citizens Bank

Savings APY:  3.75% With $0.01 min. balance for APY

CD APY: 12 months 0.15%, 24 months : 0.20%, 5 Years 0.50% with minimum $100 – $500

Monthly Fees: $0

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? Citizens Bank has 299 branches and 3100+ ATMs across 11 states of America.


  • GoalTrack savings option
  • 24/7 customer service
  • One deposit checking account


  • Heavy overdraft fees
  • Poor APY profile

Previously known as Citizens Access, the Citizens Bank is a leading financial institution in America. The bank offers both online and offline banking services and is a leading bank in Pennsylvania.

Citizens banks has a large product portfolio comprising Checkings accounts, Savings Accounts, Certificate of deposits, IRAs, loans and more. The banking and financial solutions are available for both personal and business banking.

Citizen Banks also offer excellent customer service. It has Citizens Checkup, a tool that allows customers personalized help with personal finance. The user can evaluate finances, plan for retirement, plan a financial strategy to reach a specific goal, and more.

As of June 30, 2022, Citizens Financial Group, Inc., one of the nation’s oldest and largest financial institutions, held assets worth $226.7 billion.

  1. Bank OF America

Savings APY:  0.01% to 0.04%

CD APY: 1-year – 0.03%, 3-year – 0.03%, and 5-year – 0.03% with a minimum deposit of $1,000.

Monthly Fees: $12

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? Across the United States, Bank of America offers 4,100 retail banking locations and 16000 free ATMs.


  • Monthly fees are waived
  • There are numerous branches and free ATMs.
  • Customer service channels that are convenient


  • Savings and CDs with low interest rates.

By assets, Bank of America is the second-largest bank in the nation. It is also the second-largest bank in terms of market value. It is a global bank and financial services corporation as well as a bank holding company.

 A range of financial services are offered by Bank of America to both big and small enterprises, as well as to individuals. It offers banking, investing, and other financial services to more over 20 million customers.

It’s one of the Big Four banks, along with JPMorgan Chase, Citigroup, and Wells Fargo. Bank of America offers banking, investing, credit cards, mortgages, loans, and other financial services to both individuals and businesses.

  1. Huntington Bank

Savings APY:  0.01% to 0.06%

CD APY: 14-month term CD. Guaranteed interest rate of 4.08% Annual Percentage Yield (APY) with a minimum opening balance of $1,000

Monthly Fees: $0

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? Huntington Bank has more than 1000 branches and 1600 ATMs in 11 states of America. Out of this only 1 branch and 9 ATMs are in Ohio.


  • Free checking account facility
  • 24-hour grace period
  • Different CD options are available


  • Lower yields for savers
  • High minimum balance to earn interest on a saving account

Huntington Bank was founded in 1866 under Huntington Bancshares Incorporated which is headquartered in Columbus, Ohio. The bank specializes in a wide range of banking, payments, wealth management, and risk management products and services that they offer to consumers, small and middle-market businesses, corporations, municipalities, and other organizations.

Huntington Bank is a full-service banking provider that also offers Mortgage banking services, Treasury Management and Foreign exchange services, Trust services, Wealth and investment management services, and more.

If you are looking for Customized insurance brokerage and service programs then Huntington Bank is one of the leading banks in America to help you out.

Huntington is rated as the best bank in the United States to offer high customer satisfaction with Mobile Banking Apps among the regional banks for five years in a row. The bank was also included in the best Large employers award list of Forbes and Statista.

  1. Michigan State University Federal Credit Union

Savings APY:  0.05%

CD APY: 1-year Add-On Certificate (4.60% APY, $50 min) and 1-year Jumbo Add-On Certificate (4.86% APY, $100k min), 4.26% APY on the 5-year Jumbo and 4.31% APY on the 7-year Jumbo

Monthly Fees: $0-$5 on Chase Savings; up to $25 on checking accounts

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? Michigan State University Federal Credit Union has 13 branches in Michigan.

Featured product: Business Services‚ Car Loans‚ Checking‚ Credit Cards‚ Home Equity‚ Investments‚ Mortgages‚ Personal Loans‚ Savings & CDs‚ Student Loans


  • Low minimum opening deposits on savings, checking, and share certificates
  • Decent interest rates, compared to brick-and-mortar institutions


  • Interest compounds monthly instead of daily on some accounts

Michigan State University Federal Credit Union (MSUFCU), headquartered in East Lansing, Michigan, is the largest university-based credit union in the world and is federally chartered and regulated under the National Credit Union Administration (NCUA). MSUFCU provides a variety of financial products and services including deposit accounts, personal and business loans, investments, and insurance, among others. MSUFCU is owned by its membership and overseen by a board of directors elected by said membership. As of year-end 2020, MSUFCU has 21 branches, over 300,000 members, more than $5.6 billion in assets, and nearly 900 employees.

MSU Federal Credit Union provides financial products and services like checking, savings, IRAs or loans to the MSU community, their families, and select employee and community groups. It also offers services to anyone who lives, works, worships, goes to school, or owns a business in Oakland, Genesee, Lapeer, Livingston, and Macomb Counties.

  1. Members First Credit Union

Savings APY:  0.25% with minimum $5.00

CD APY: 6 months: 1.75%, 1-year 2.25% APY, $1000, 2 years – 2.50%, 5-year 3.25 % with $1000

Monthly Fees: $7.50/month

Insured by: National Credit Union Share Insurance Fund (NCUSIF)

How many branches are in the State? Michigan State University Federal Credit Union has 4 branches in Michigan.

Featured product: Car Loans‚ Checking‚ Credit Cards‚ Home Equity‚ Investments‚ Mortgages‚ Personal Loans‚ Savings & CDs


  • Hispanic American-led financial institution that serves a local community
  • No monthly fees on accounts


  • Only available to residents in certain areas in Texas (Nueces or Cameron County)
  • High early withdrawal penalties on short-term share certificates
  • Online banks offer higher interest rates

When you open your account with MFCU, you become a member and owner of the credit union. At MFCU, they believe in you. Their promise is to be trustworthy, caring and enthusiastic to help you succeed. It comes naturally to them to listen carefully and build relationships in order to not only find solutions, but also minimize financial stress and maximize happiness. MFCU encourages its members to go after whatever makes them happy, always knowing they’ll find it! Members First Credit Union is a Federally Insured State Chartered Credit Union with 2 branches, assets of $200,806,324 that is headquartered in Midland, MI.

  1. Lake Michigan Credit Union

Savings APY: 0.15% APY on first $2,500 to $24,499 and 0.20% APY thereafter. However, there is a $10 monthly maintenance fee for accounts with balances under $2,500.

CD APY: 6 months: 3.75%, 1-year 4.05% APY, $1000, 2 years – 3.75%, 5-year 3.00 %

Monthly Fees: $5.95/month

Insured by: National Credit Union Share Insurance Fund (NCUSIF), an arm of NCUA.

How many branches are in the State? Michigan State University Federal Credit Union has 43 branches in Michigan.

Featured product: Car Loans‚ Checking‚ Credit Cards‚ Home Equity‚ Investments‚ Mortgages‚ Personal Loans‚ Prepaid Cards‚ Savings & CDs‚ Student Loans


  • All CDs only require a $500 opening deposit.
  • The Max Checking account pays a juicy APY on balances up to $15,000.
  • The money market account pays decent yields across balance tiers.
  • Lake Michigan Credit Union lets you schedule appointments online for opening a new account or getting help with an existing account.


  • Max Checking account holders must meet several requirements to earn the APY.
  • The money market account’s $2,500 minimum balance requirement to earn interest could be a barrier for some customers.

Lake Michigan Credit Union has been serving the state of Michigan since 1933 when Grand Rapids teacher Lloyd F. Hutt saw a need for reliable banking amid the Great Depression. What followed was the Grand Rapids Teachers Credit Union. In 2002, the financial institution changed its name to Lake Michigan Credit Union.

Lake Michigan Credit Union is a Federally Insured State Chartered Credit Union with 39 branches, assets of $4,390,391,710 that is headquartered in Grand Rapids, MI. Lake Michigan Credit Union is the largest credit union in West Michigan. Lake Michigan Credit Union offers a full range of financial services. From savings and checking programs, to debit cards and online services, to mortgages and auto loans, we have it all. They provide great rates and offer services with no or low fees. They also offer investment services, retirement planning and insurance products including auto, homeowners and life insurance. At Lake Michigan Credit Union, our members are our #1 priority.

Lake Michigan Credit Union is best suited for those in Lower Michigan and southwestern Florida looking for a full-service financial institution who prizes branch access over the best possible rates.

  1. State Farm Federal Credit Union

Savings APY: 1.01%

CD APY: 1.75% with minimum opening deposit starting at $5.

Monthly Fees: $10

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? Michigan State University Federal Credit Union has 1 branch in Michigan.

Featured product: Business Services‚ Car Loans‚ Checking‚ Credit Cards‚ Home Equity‚ Investments‚ Mortgages‚ Personal Loans‚ Savings & CDs‚ Student Loans


  • It is available in all 50 states
  • Offers the best dividend yield
  • Easy loan process and affordable rates


  • Lacks penalty certificate option
  • There is no IRA CD

State Farm Federal Credit Union was founded in 1936 by G.E. Mecherle, the son of State Farm founder, G.J. Mecherle to offer benefits to the employees and associates.

The credit union deals in a wide range of saving options including Primary accounts, secondary accounts, Trust accounts, business accounts, Minor accounts, IRA accounts, and Specialty accounts. They also offer loans for vehicle, personal, and business purposes.

They are attentive to the customer’s requirements and serve the community with all types of financial resources. State Farm Federal Credit Union is a Federal Credit Union with 23 branches, assets of $3,785,004,489 that is headquartered in Bloomington, IL. Since our origin in 1936, our philosophy has been “People helping people”. State Farm Federal Credit Union is a controlled not-for-profit financial cooperative, owned by its members. Unlike a bank or savings and loan association, we are not for profit and are dedicated only to serving members who share a common bond.

  1. Wildfire Credit Union

Savings APY: 0.100% with $5 minimum opening balance:

CD APY: 6 months :2.0% 1-year 2.25%, and on the 5-year 3.20% minimum opening balance for all certificates: $500.

Monthly Fees: No Monthly Charges

Insured by: National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States Government.

How many branches are in the State? Michigan State University Federal Credit Union has 7 branches in Michigan.

Featured product: Business Services‚ Car Loans‚ Checking‚ Credit Cards‚ Home Equity‚ Investments‚ Mortgages‚ Personal Loans‚ Savings & CDs‚ Student Loans


  • Lower borrowing rates and higher deposit yields.
  • No monthly fees
  • Variety of products


  • Membership required.
  • Not the best rates.

Wildfire Credit Union has a variety of products and services available to choose from, including: checking accounts, savings accounts, business services, credit cards, personal loans, mortgages, auto loans, online banking and much more! Wildfire Credit Union is a Federally Insured State Chartered Credit Union with 5 branches, assets of $669,484,041 that is headquartered in Saginaw, MI.

Wildfire Credit Union began operating on September 9, 1937 as Saginaw Telephone Employees Credit Union with the first office being located in the basement of the home of Credit Union Treasurer Hank Koski. As time and the world moved forward, so did we.

In 1977, after a series of small office upgrades, this once little credit union gained an office building at its current location on Bay Road in Saginaw and merged with Flint Telephone Employees Credit Union that same year. Then in 1984 we changed our name to Communications Family Credit Union (CFCU) and expanded to include employees of communication-related industries from Flint all the way up to the Mackinac Bridge.

In the following decades we merged with more credit unions, expanded our office, and opened a branch in Midland all before changing our name to Wildfire in 2009. Since then we have opened two more branches in Saginaw Township and Bay City and opened a few school branches. Today, Wildfire serves the entire state of Michigan allowing anyone who works, lives, worships or attends school in the state of Michigan to join Wildfire. Just as we did during our humble beginnings over eighty years ago, we continue to strive to be the best kind of place for our members to manage their finances and serve our community.

  1.  Advia Credit Union

Savings APY: 3.30% with a $0 minimum balance

CD APY: 3 months : 0.95% 6 months 1.15%, 1-year 1.35%, 2-year 1.95%, and on the 5-year 2.50% minimum opening balance for all certificates: $500.

Monthly Fees: $10

Insured by: (NCUA ) National Credit Union Administration.

How many branches are in the State? Advia Credit Union has13 branches in Michigan.

Featured product: Business Services‚ Car Loans‚ Checking‚ Credit Cards‚ Home Equity‚ Investments‚ Mortgages‚ Personal Loans‚ Savings & CDs


  • Insured deposits
  • More personal service
  • Educational resources


  • Limited accessibility.
  • May offer fewer products and services.

Advia Credit Union’s mission is to provide financial advantages. They look to proactively seek the quickest and easiest solutions available for members to maximize the financial value provided to them. Their name means something – they provide advice, they are member advocates, and they offer advantages. They do this via innovative financial solutions. Advia Credit Union became official on January 1, 2014, but their story began long before that.

Michigan Economic Statistics

Michigan’s economic landscape offers a rich tapestry for investors. It is characterized by its diverse industries ranging from automotive manufacturing to agriculture and technology.

As of the latest statistics, the state boasted an average household income of approximately $59,584, reflecting the economic conditions and living standards of its residents. Other than this, with an average home value around $228,329, Michigan presents an affordable housing market relative to national averages. All of this makes it an attractive place for investment and savings in real estate and financial products like CDs.

Most of all, the state’s population, nearing 10 million, underscores a substantial market and labor force that contribute to its economic dynamics.

Economic IndicatorStatistic
Average Household Income$59,584
Average Home Value$228,329
PopulationNearly 10 million

For those who are considering the best CD rates in Michigan, these statistics highlight the importance of choosing investment vehicles that can outpace inflation while complementing the state’s cost of living and economic growth trends.

How to Get the Best CD Rates in Michigan?

To secure the best CD rates in Michigan, it’s essential to adopt a comprehensive and strategic approach.

  • Start by comparing rates from a wide variety of financial institutions, including both local credit unions and national banks, as they often offer different rates depending on their operational goals and liquidity needs.
  • Pay close attention to the term lengths, as they can significantly affect the interest rate; generally, longer terms offer higher rates.
  • Additionally, consider any promotional rates and the fine print for minimum deposit requirements and early withdrawal penalties.
  • Leveraging online financial comparison tools can streamline this process, allowing you to view rates from multiple institutions side by side.

CD Rates Methodology

Our methodology for identifying the best CD rates in Michigan involved an extensive review of 96 banks and credit unions to capture a broad spectrum of available rates.

Out of these, 63 institutions made the list, chosen based on their offering of competitive rates, customer service, and the flexibility of terms.

This thorough selection process ensures that our recommendations include options that cater to a wide range of financial goals and preferences, providing savers with the best opportunities to maximize their returns.


Finding the best CD rates in Michigan requires diligent research and a strategic approach. By considering a variety of financial institutions and term lengths, you can identify the most advantageous rates available.

The best CD rate for you will depend on your specific needs, including your desired term length and how much you’re willing to deposit, making it crucial to shop around and consider all your options before committing.


Who has the best CD rates in Michigan?

First National Bank of America, offering a competitive 5.05% rate for an 18-month CD, stands out as the institution with the best CD rates in Michigan.

What Credit Union has the Best CD rates in Michigan?

Portland Federal Credit Union leads among credit unions in Michigan with an impressive 5.41% rate for an 18-month CD, providing an excellent opportunity for members to maximize their savings.