Deal Summary

$1000 minimum deposit, 6-month to 5-year terms, no annual service fees, fixed rate up to 0.90% APY

Desert School’s Top CD Rates

Savings and IRA CD’s are available for 6-month to 5-year terms.

6-month terms have an APY of 0.35%.

1-year terms have an APY of 0.45%.

18-month terms have an APY of 0.50%.

2-year terms have an APY of 0.60%.

3-year terms have an APY of 0.70%.

4-year terms have an APY of 0.80%.

5-year terms have an APY of 0.90%.

Saving and IRA CD’s through Desert Financial have a minimum balance of $1000.

Jumbo Savings CD’s are available for the same set of terms, 6-month through 5-years, with an additional 5% added to the APY. Rates vary between 0.40% for the 6-month term to 0.95% for the 5-year term. The minimum balance for a Jumbo Savings CD is $100,000.

They have a College Savings CD which has an APY of 0.50% for a 1-year term only. The minimum balance is $1000.

There are applicable penalties for early withdrawal on all CD accounts. Dividends for CD’s are credited on the last day of each month.


The requirement for buying a CD with Desert Financial is that you must first be a member. Signing up for an account can be done online at or at one of the over 60 branch locations in Arizona. You must live, work, or attend school in Arizona. Apache, Graham, Greenlee and Santa Cruz are the only counties not included in the member coverage area.

Branches in Arizona

Apache Junction, Buckeye, Chandler, Gilbert, Glendale, Goodyear, Laveen, Maricopa, Mesa, Payson, Peoria, Phoenix, Queen Creek, Scottsdale, Sun City, Surprise, Tempe

Bank Overview

Desert Schools Credit Union, also known as Desert Financial, has been serving their community for over 80 years. They have many modern banking services such as online banking, mobile deposit, debit cards, free checking accounts, and a relationship rewards service which offers benefits for returning customers. They offer a full range of financial services including lending, saving, and checking accounts in addition to Certificates of Deposits. 

Desert Schools Credit Union provides education support for Maricopa, Gila and Pinal counties in Arizona. They are committed to sharing their success throughout their community and in 2019 alone gave back over $2.3 million to the communities they serve. This included $100,000 in scholarships, fundraising for the Valley of the Sun United Way, Random Acts of Kindness, 1 Darn Cool School at the Phoenix Children’s Hospital, and 53 teacher appreciation events for local schools.  The credit union has a community give back program called Desert Financial Foundation which helps organizations like schools and nonprofits throughout their service area. The foundation was founded in 2017 and works to create opportunities for the financial institution to give back, with a focus on education and building strong communities. Among the services that the foundation provides are scholarship and financial literacy programs.