Today I bring a new post with the highest 1-year CD rates that I can find.

The FDIC has shuttered thirty-eight banks so far in 2010.  They are on pace to shutter more this year over last year.  Three hundered to six hundred  of banks are in the under-capitalized category and most of those will not be able to survive.  Still looming residential losses plus impending commercial losses will just break the camels back.

When thinking about one year CD rates you want your bank to hang around for a while.  So check the health of the bank.

Nevertheless here are some high CD yields I found.

It looks ilke NCUA insured credit unions are leading the pack.

Alliant Credit Union has a 2.10% APY for a one year Certificate.  The rate is good from 1-year to 23-months.  Interest is paid at maturity only.  5-star Rating. 

Melrose Credit Union in New York has a 2.07% interest rate.

Amazingly, I found a bank with a 2.00%.  Most banks are in the 1.50% range because of the FDIC National rate cap.  Check out First City Bank.  2.00% APY.  They can be reached at 888-244-5151.  Of course there are a couple of caveats.  It is a 15-month CD which is what gets them around the FDIC cap.  They have a 0-Star rating.  And to make it worse, they are located in Florida.  But they are FDIC insured.

Discover Bank (4-stars) has a 1.60%.  They are located in Delaware.

Use the FDIC or NCUA website to do your own safety check.  Take a look at the various ratios.  Look for a Equity/Assets ratio above 7%, a total risk based capital above 10% (only applicable to banks), and if the institution has a loss, make sure it is only about 25% of the capital when you adjust for yearly earnings.  These are just suggestions.  The web also offers some free bank and credit unionrating tools.  One is found at bankrate[dot]com.