Best CD Rates in Milwaukee, Wisconsin

Milwaukee is a city known for its rich history and vibrant cultural scene. It also offers a variety of options for those looking to maximize their savings through CDs.

Whether you’re a local resident or someone considering investing in the area, the competitive rates offered by Milwaukee’s banks and credit unions can be an attractive option for securing your financial future.

With interest rates fluctuating based on economic conditions and financial institutions vying for your business, finding the best CD rates can be like discovering a hidden gem in the city’s bustling financial landscape.

Overall Best CD rates in Milwaukee, Wisconsin

No.	Bank Name	APY	Term Length	Address
1	WaterStone Bank	5.50%	6-month	11200 West Plank Court, Wauwatosa, WI 53226
2	Landmark Credit Union	5.00%	12-month	5445 South Westridge Drive, New Berlin, WI 53151
3	Premier Bank	5.00%	3-month	10851 West Park Place, Milwaukee, WI 53224
4	First Federal Savings Bank of Wisconsin	5.00%	3-month	239 West Johnson Street, Fond du Lac, WI 54935
5	PyraMax Bank	4.95%	6-month	8001 West National Avenue, West Allis, WI 53214
6	North Shore Bank	4.94%	6-month	15700 West Bluemound Road, Brookfield, WI 53005
7	Northern Trust Company	4.90%	12-month	411 East Wisconsin Avenue, Milwaukee, WI 53202
8	Westbury Bank	4.90%	6-month	17160 West North Avenue, Brookfield, WI 53005
9	Johnson Bank	4.85%	3-month	8311 North Port Washington Road, Fox Point, WI 53217
10	Community Bank & Trust	4.73%	6-month	4100 North Calhoun Road, Brookfield, WI 53005
11	Waukesha State Bank	4.65%	12-month	151 East St. Paul Avenue, Waukesha, WI 53188
12	Seaway Bank and Trust Company	4.60%	12-month	Online
13	Self-Help Federal Credit Union	4.60%	12-month	210 East Capitol Drive, Milwaukee, WI 53212
14	Hartford Savings Bank	4.55%	3-month	1400 Schauer Drive, Hartford, WI 53027
15	PenFed Credit Union	4.50%	12-month	1555 North Rivercenter Drive, Suite 302, Milwaukee, WI 53212
16	Seaway Bank & Trust Company	4.50%	3-month	2102 West Fond Du Lac Avenue, Milwaukee, WI 53206
17	Educators Credit Union	4.50%	6-month	7025 West Greenfield Avenue, West Allis, WI 53214
18	Landmark Credit Union	4.33%	6-month	5445 South Westridge Drive, New Berlin, WI 53151
19	Northwestern Mutual Credit Union	4.25%	12-month	720 East Wisconsin Avenue, Milwaukee, WI 53202
20	First Bank Financial Centre	3.55%	12-month	500 West Brown Deer Road, Milwaukee, WI 53217
21	Republic Bank	3.50%	3-month	5600 West Brown Deer Road, Brown Deer, WI 53223
22	PNC Bank	3.50%	6-month	411 East Wisconsin Avenue, Milwaukee, WI 53202
23	Guardian Credit Union	3.45%	3-month	11222 W Lincoln Ave, West Allis, WI 53227
24	Johnson Bank	3.00%	12-month	735 West Wisconsin Avenue, Milwaukee, WI 53233
25	PrivateBank and Trust Company	3.00%	12-month	770 North Water Street, Milwaukee, WI 53202
26	Summit Credit Union	2.96%	6-month	2149 Miller Park Way, West Milwaukee, WI 53219
27	Wisconsin Bank & Trust	2.75%	3-month	780 Regent Street, Madison, WI 53715
28	Inland Bank & Trust	2.50%	6-month	6530 West Capitol Drive, Milwaukee, WI 53216
29	Citizens Bank	2.40%	3-month	10901 West Lake Drive, Milwaukee, WI 53224
30	Educators Credit Union	2.25%	12-month	4060 North Port Washington Road, Milwaukee, WI 53212
31	Associated Bank, National Association	2.23%	12-month	330 East Kilbourn Avenue, Milwaukee, WI 53202
32	Aurora Credit Union	2.23%	12-month	1025 North Broadway, Milwaukee, WI 53202
33	Bank Mutual	2.23%	12-month	4949 West Brown Deer Road, Milwaukee, WI 53223
34	Our Lady of Good Hope Credit Union	2.05%	12-month	7152 North 76th Street, Milwaukee, WI 53223
35	Prime Financial Credit Union	2.00%	12-month	5656 South Packard Avenue, Cudahy, WI 53110
36	Tri City National Bank	2.00%	12-month	3701 South 27th Street, Milwaukee, WI 53221
37	University of Wisconsin Credit Union	2.00%	12-month	231 West Michigan Street, Milwaukee, WI 53203
38	Wells Fargo Bank, National Association	2.00%	12-month	100 East Wisconsin Avenue, Milwaukee, WI 53202
39	Brewery Credit Union	1.85%	12-month	1351 North Doctor Martin Luther King Jr. Drive, Milwaukee, WI 53212

Current CD Rates of Milwaukee, Wisconsin

The current landscape of CD rates in Milwaukee, Wisconsin, showcases a diverse range of options for investors. It comprises wide rates varying significantly across different banks and credit unions. Local branch banks in Milwaukee offer CD rates that range broadly, with some of the highest rates found in credit unions and online banking options.

As per the dynamic nature of interest rates, it is advisable for investors to stay informed about the latest offerings and to carefully consider the terms and conditions associated with each CD. It includes the potential penalties for early withdrawal and minimum deposit requirements.

Best 6 Month CD Rates

In the search for short-term investment opportunities, 6-month CD rates offer an appealing blend of higher interest compared to savings accounts with a commitment that’s manageable for most investors.

1. Superior Choice Credit Union

Minimum Amount: $500

APY / Rate: 5.65% APY

Pros:

• A 7-month term deposit with Superior Choice Credit Union is eligible for a high APY of 5.65%.
• The $500 minimum deposit required to open an account is quite low when compared to other high-yield to savings options.
• Anyone who has $5 or more in a savings account and to pays a $8 membership fee to the nonprofit American Consumer Council is eligible to join Superior Choice Credit Union.

Rules:

• The account can be closed at any moment, although early withdrawals are subject to a six-month interest charge.
• There is no option to shorten or extend the deposit’s term once the account has been set up; it is automatically set at 7 months.

2. NASA Federal Credit Union

Minimum Amount: $10,000

APY / Rate: 5.65% APY

Pros:

• The NASA Federal Credit Union’s optimal APY is 5.6% for deposits that must be $10,000 or more.
• Several kinds of financial services and products, such as loans, credit cards, checking, and savings accounts, are offered by the credit union.
• The NASA Federal Credit Union is a well-known organization with a history of helping persons working in the aerospace industry.

Rules:

• The minimum deposit needed to earn the claimed APY is $10,000, and then the 5.65% APY is only available for a 12-month term deposit. Early withdrawal from the account is permitted, but there is a penalty of 180 days of dividends on the amount removed.
• Only those connected to NASA, the National Space Society, or other exclusive organizations, or who reside in certain areas of Maryland, Virginia, or Washington, D.C. and work, worship, or attend school there, are eligible to join NASA Federal Credit Union.

3. Bellco Credit Union

Minimum Amount: $500

APY / Rate: 5.50% APY

Pros:

• For a 6-month term deposit, Bellco Credit Union provides a success APY of 5.50%.
• When compared to other high-yield savings options, the $500 minimum deposit needed to create an account is somewhat modest.
• Anyone who contributes $10 to the Bellco Foundation, pays the $5 one-time application cost, and maintains a minimum balance of $25 in a Bellco savings account is eligible to join Bellco Credit Union.

Rules:

• Only a 6-month term deposit qualifies for the claimed APY of 5.50%.
• A 3-month interest penalty applies to early withdrawals from the account, which are permitted.

Best 1 Year CD Rates

For those who are looking to slightly extend their investment horizon, 1-year CDs strike a balance between yielding a higher return and retaining access to funds within a relatively short period.

1. Canadian Imperial Bank USA

Minimum Amount: $25,000

APY / Rate: 5.36% APY

Pros:

• A high APY of 5.36% is available from Canadian Imperial Bank USA on deposits of at least $25,000.h
• The bank is a division of the Canadian Imperial Bank of Commerce, one of the largest banks in Canada.
• The financial services and goods offered by Canadian Imperial Bank USA include checking and savings accounts, loans, and credit cards.

Rules:

• The APY of 5.36% is only available for 6-month term deposits, and a minimum deposit of $25,000 is needed to earn the advertised APY.
• An early withdrawal from the account is permitted, but there is a 90-day interest penalty on the amount taken out.

2. Popular Direct

Minimum Amount: $10,000

APY / Rate: 5.35% APY

Pros:

• When you deposit $10,000 or more, Popular Direct offers a competitive APY of 5.35%.
• Customers can control their accounts from anywhere with an Internet connection since the bank is an entirely online business.
• Popular Direct offers a range of financial services and products, including certificates of deposit, savings accounts, and money market accounts.

Rules:

• The advertised APY has a $10,000 minimum deposit requirement and is only valid for 6-month term deposits to qualify for the 5.35% APY.
•  An early withdrawal from the account is permitted, but there is a 90-day interest penalty on the amount taken out.

3. Rising Bank, a division of Midwest BankCentre

Minimum Amount: $10,000

APY / Rate: 5.30% APY

Pros:

• For deposits of $10,000 or more, Rising Bank offers a competitive APY of 5.30%.
• Because the bank exclusively operates online, clients may conveniently manage their accounts from any location with an Internet connection.
• The majority of the financial services and goods that Rising Bank offers are certificates of deposit, money market accounts, and savings accounts.

Rules:

• The APY of 5.30% is only available for 6-month term deposits, and the minimum deposit needed to earn the advertised APY is $10,000.
• Early account withdrawals are permitted, however, there is a 180-day interest penalty on the amount taken out.

Best 2 Year CD Rates

A 2-year CD can provide a notable increase in interest rates, rewarding savers willing to lock in their funds for a medium-term period.

1. Idabel National Bank

APY / Rate: 4.85%

APY / Rate: 5.20%

Pros:

• Idabel National Bank offers some of the highest APYs on CDs in the country. For example, its 24-month CD currently has an APY of 4.85%.
• Idabel National Bank has low minimum deposits for its CDs. For example, its 24-month CD has a minimum deposit of just $1.
• Idabel National Bank does not charge any fees for its CDs. This includes fees for early withdrawal, ATM withdrawals, and maintenance.

Rules:

• If you close the account before the term is up, you may have to pay an early withdrawal penalty.
• The account must be in good standing.
• The account must be FDIC insured.

2. Bread Savings

Minimum Amount: $1,500.00

APY / Rate: 5.00%

Pros:

• FDIC insured up to $250,000.
• No monthly maintenance fees.
• The interest rate is compounded daily, so you earn interest on your interest.
• You can open a CD online or at any Bread Savings™️ branch.
• You can set up automatic transfers from your checking account to your CD.

Rules:

• Minimum deposit of $1500.
• There is a 90-day early withdrawal penalty if you withdraw your money before maturity.
• The interest rate is subject to change.

3. Marcus by Goldman Sachs

Minimum Amount: $500.00

APY / Rate: 4.85%

Pros:

• FDIC insured.
• No monthly maintenance fees.
• The interest rate is compounded daily, so you earn interest on your interest.
• You can open a CD online or through the Marcus by Goldman Sachs app.
• You can set up automatic transfers from your checking account to your CD.

Rules:

• There is a 90-day early withdrawal penalty if you withdraw your money before maturity.
• The interest rate is subject to change.

Best 5 Year CD Rates

Investors who are looking for the highest rates in the CD spectrum may find 5-year CDs to be the most lucrative. It offers premium interest rates for a long-term savings strategy.

1. Self-Help Federal Credit Union

Minimum Amount: $500.00

APY / Rate: 4.65%

Pros:

• Higher rates on longer terms
• Terms from 3 months to 5 years
• No overdraft fees.
• All term certificates are NCUA- insured

Rules:

• The account must be in good standing.
• The account must be open for the entire term.
• There is a 90-day early withdrawal penalty for terms of 12 months or less, and a 180-day early withdrawal penalty for terms greater than 12 months.

2. Landmark Credit Union (WI)

Minimum Amount: $500.00

APY / Rate: 5.00%

Pros:

• A new member must open a VIP Savings Account with a minimum of $5 to establish a membership with Landmark.
• Accounts can be opened online or at any of our local branch locations.
• Landmark Credit Union is also federally insured by the NCUA

Rules:

• Dividends are paid on the entire daily balance whenever it is $2,500 or more.
• APY may range from 7.50% – .11% on balances over $500.
• Account cannot be opened online and must be opened within the branch.
• There is a penalty for early Certificate withdrawal.
• Premium Checking base rate is 0% APY. Premium Checking Accounts with e-statements (valid email address required) and direct deposit earn 7.50% APY on balances up to $500. APY may range from 7.50% – .11% on balances over $500. Direct deposit is defined as a minimum of $250 per month in ACH deposits, which may include payroll, pension or government benefit payments. One Premium Checking Account per member.

3. Bank Five Nine (WI)

Minimum Amount: $500.00

APY / Rate: 4.00%

Pros:

• Low minimum daily balance
• Competitive interest
• $300 cash reward when you open a checking account with qualifying activity*
• Unlimited check writing plus first order of checks are free
• Online banking, bill pay, mobile banking with check deposit, eStatements, and low balance alerts are free
• Debit card included with access to 600+ free ATMs statewide

Rules:

• An active Bank Five Nine consumer checking account is required to receive higher APYs for Special Relationship pricing.
• Fees may reduce earnings.
• A penalty may be imposed for early withdrawal from the accounts listed unless otherwise noted.
•  Offer valid to consumer accounts only.
• Bank Five Nine does not generally accept institutional or brokered deposits to any of our deposit products.

Milwaukee, Wisconsin Economic Statistics

For investors who are considering the best CD rates in Milwaukee, Wisconsin, understanding the economic landscape of the city can provide valuable insights.

• Milwaukee, with a population of approximately 563,305, has seen a slight decrease in population from April 2020.
• The city’s median household income per capita income stood at $45,318v.
• The median value of owner-occupied housing units during the same period was reported at $157,800​​.

These statistics indicate a diverse economic environment that may influence the savings and investment choices available to residents.

Statistic	Value
Population	563,305
Median Household Income	$49,733
Per Capita Income	$45,318

How to Get the Best CD Rates in Milwaukee, Wisconsin?

Securing the best CD rates in Milwaukee, Wisconsin, involves a few strategic steps.

• Begin with thorough research, focusing on a variety of financial institutions within the city, including both traditional banks and credit unions.
• Since credit unions often offer higher interest rates due to their not-for-profit status, they should not be overlooked. It’s also crucial to consider online banks, which frequently offer competitive rates due to their lower overhead costs.
• Diversify your search to include both large national banks and smaller local institutions that might offer special rates to local residents or members.
• Stay informed about the overall economic conditions, as interest rates on CDs can fluctuate based on the Federal Reserve’s actions and broader economic indicators.

CD Rates Methodology

In the analysis of CD rates, a comprehensive review covered 80 banks and credit unions within and around Milwaukee, assessing their offered CD rates across various terms.

The methodology behind selecting which institutions made the list out of these 80 involved several key factors, including the competitiveness of the rates, the financial health and stability of the institution, customer service ratings, and any additional benefits tied to CD accounts such as the ease of account management and renewal options.

From the initial review, 39 institutions were highlighted for offering the most attractive CD rates combined with strong customer service and financial health.

Conclusion

Overall, the analysis methodology, considering a wide array of banks and credit unions, emphasizes the importance of comprehensive research in identifying the top CD rates. The institutions making the final list represent a balance between competitive rates and the overall value offered to customers, highlighting the diverse opportunities available to savers in Milwaukee.

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