Lafayette FCU Named to America's Best Banks List 2022 by Newsweek

The Maryland-based credit union, with branches in Maryland, Virginia and the District, was recognized in the category of Best Certificates of Deposit: Three Year

Newsweek said its critical consideration in selecting Lafayette Federal Credit Union was the payout, but the publication indicated that it also considered factors such as penalties for withdrawing money early and the minimum amount needed to open the account. Newsweek noted that Lafayette FCU’s three-year fixed rate certificate has an interest rate (recent) of 1.01% with a minimum of $500 to open an account.

To identify America's Best Banks and Bank Accounts, Newsweek said it worked in partnership with LendingTree. Credit unions were excluded from consideration for overall bank winner categories but included for individual account winner categories. According to Newsweek, the final rankings were based on factors considered most important to consumers such as digital and branch presence, account and loan options, as well as interest rate offerings and fees.

View Newsweek's List of America's Best Banks 2022