Connexus Credit Union has increased the rates on their internet CDs, but they added an interesting catch. The 6-month CD rate is now very competitive at 1.50% APY. The other rates are also competitive: 1.75% APY for 12 months and 3.00% APY for 60 months. These rates are listed at the credit union’s deposit rates page.

The catch is that these CD rates now require an “active checking”. Here’s how they define active checking in the small print:

Active Checking is defined as having at least 1 Direct Deposit of net pay, including salary, wages, government benefits or pension made to the account each month; having 10 checks and/or signature debit card transactions clear the account by the last business day of each month; and electing to receive eStatements.

Note how similar these requirements are to their reward checking requirements. So if you already have one of their reward checking accounts, you should be able to easily qualify for these CD rates. This CD probably makes the most sense for current Connexus Credit Union customers.

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1. Golden 1 Credit Union 5.50% CD