Best CDs in Oregon for 2025: Rates and Pros & Cons
- Oregon Community Credit Union offers a special 13-month share certificate with a 4.25% interest rate.
- Rogue Credit Union offers strong interest rates (3.5%–3.9%) on its short- and long-term CDs.
- Online banks are a great alternative to traditional financial institutions and offer strong interest rates on CDs with varying term lengths.
- Additional cuts to federal interest rates could reduce the overall yield generated by CDs.
Oregon is home to many regional banks and credit unions that offer customers a wide range of opportunities to grow their personal savings with good rates on certificates of deposit. Use this guide to compare the best CD rates, deposit requirements, and term lengths from Oregon’s leading financial institutions.
Oregonians looking for savvy ways to build their personal savings can invest in certificates of deposit. Some CDs provide higher interest rates than standard savings accounts, and the FDIC guarantees both up to $250,000.
Oregon residents can choose from CD terms ranging from a few months to five years to meet both short- and long-term savings goals. The guide below provides insight into the best CD rates in Oregon.
Best CD Rates at Oregon Banks and Credit Unions
Oregon has multiple financial institutions offering competitive interest rates on certificates of deposit.
Popular Banks and Credit Unions in Oregon
Beaver State residents don’t have to look too hard to find a regional bank or credit union offering exceptional interest rates on CDs. Multiple financial institutions offer high interest rates on special introductory and 12-month CDs.
Umpqua Bank: Founded in Oregon in 1953, Umpqua Bank is one of the largest financial institutions in the West, with more than 300 branch locations in eight states.
WaFd Bank: Founded in 1917, Seattle-based WaFd Bank operates 210 locations in nine states. It offers excellent rates of 3.24% to 4.05% on CD terms ranging from seven to 30 months.
Oregon Community Credit Union: OCCU’s roots date back to a handful of state employees pooling their savings into an old shoebox. Members can enjoy special rates of 4% on a 7-month share certificate or 4.25% on a 13-month certificate.
Online Banks: Online-only banks can offer high interest rates on CDs because they have much lower overhead than traditional financial institutions. You won’t be able to visit a regional branch location, but you’ll enjoy lower or zero fees and attractive interest rates on Certificates of Deposit and other savings products.
Online Banks Offering CDs in Oregon
Online banks don’t have physical branch locations, so they don’t have to pay rent at multiple locations and incur other significant capital expenditures. As a result, they can keep their fee structures lower and offer strong interest rates to customers.
Here are other reasons to consider a digital bank over a traditional bank or credit union.
Federally insured
Digital banks that provide insurance through the Federal Deposit Insurance Corporation guarantee personal accounts, including CDs, up to $250,000.
Easy to set up and buy CDs
Online banks excel at providing an easy and simplified customer experience. You can open an account or CD with a few clicks of a mouse or a tap on your smartphone screen.
Green banking
Digital banks don’t have physical branch locations, so you won’t consume fuel driving to the bank. When you choose paperless transactions and banking statements, you are helping conserve natural resources in multiple ways.
Low fees
Online financial institutions typically have low or no fees to attract more customers.
Mobile app banking
Smaller regional banks often lack robust web-based or mobile banking platforms. Digital banks excel at providing robust online banking platforms because it’s the main way they reach and interact with their customers.
Popular Online Banks for Oregon Residents
Here are a few of the many online banks offering Oregonians very competitive interest rates on certificates of deposit.
Bread. Bread Savings offers CDs ranging from 3 to 60 months with interest rates from 3.80% to 4.35%.
TAB Bank. Transportation Alliance Bank of Ogden, Utah, offers CDs ranging from 1 to 5 years. Interest rates vary from 3.81% to 4.21% with a $1,000 minimum opening deposit.
First Internet Bank. First Internet Bank offers numerous high-yield CDs. Terms range from 3 to 60 months, with interest rates ranging from 3.65% to 4.4%.
Sallie Mae Bank. Sallie Mae is more than just student loans. Sallie Mae Bank offers savers a wide range of CDs (6-60 months) and interest rates (3.4% to 4.35%). Minimum deposits start at $2,500.
This is just a handful of digital banks offering CDs. There are dozens more online financial institutions offering some of the highest interest rates available on certificates of deposit.
Factors to Consider When Choosing a CD in Oregon
Oregon had long been known as one of the nation’s largest producers of forestry products, and forestry is still a primary economic driver in the Beaver State. However, Oregon’s economy also includes a strong presence in agriculture, technology, manufacturing, and tourism. Declines in these primary economic drivers could negatively impact Oregon-based banks and credit unions’ ability to offer competitive interest rates on certificates of deposit.
Additional factors that could impact the amount you earn on CDs include:
- Cuts to federal interest rates. If the Federal Reserve makes additional cuts to its benchmark interest rate, it will result in slightly lower interest rates on all types of interest-bearing savings products.
- Promotional rates. Regional banks and credit unions often offer high interest rates on promotional CDs with new-money deposits.
- Personal income tax. Oregonians pay a personal income tax that’s based on gross taxable income. Interest earned from CDs is taxable and must be reported on Form 1040.
Pros and Cons of CDs
CDs are a great savings tool because they provide guaranteed returns. They might not be your best option, though. Here are some considerations:
Pros
- Fixed interest rates so you can predetermine overall yield
- Varying term lengths allow you to stack or ladder multiple CDs
- Guaranteed by the FDIC for minimal risk
Cons
- Lack of liquidity
- Penalties for early withdrawal
- Greater yield may be earned by investing in public equity stocks
Begin Your Journey to Greater Savings
Interest rates for certificates of deposit are still exceptionally strong, but the Federal Reserve may cut interest rates in 2025 and beyond. Start your savings journey today by comparing the best CD rates in Oregon.
FAQs
The interest you earn on CDs is taxable at the state and federal levels.
Interest rates are often higher at online banks, but when you bank with a local financial institution, your money is put to work in your community.
CDs can meet both long- and short-term savings goals. A common savings strategy (called CD laddering) is purchasing multiple CDs with varying maturity dates. Using this strategy, you might purchase a 6-month CD, a 12-month CD, and an 18-month CD, or longer-term CDs such as 2-year certificates in your laddering strategy.
