SEATTLE –As deposit rates have been slowly declining, some banks and credit unions are making the strategic decision to increase CD rates to attract deposits, according to a new analysis.
In fact, nearly 60% of CD rate changes from CD Valet’s bank and credit union partners in 2026 have been rate increases, CD Valet reported.
“Forward-thinking institutions are taking what can often be considered a legacy product and leveraging it in a modern way to fuel meaningful growth,” Mary Grace Roske, head of marketing and communication, said in a statement. “While the overall CD rate environment is trending downward, many of our partner institutions are actually thoughtfully raising CD rates, using strategic pricing and smart digital marketing to differentiate themselves in a competitive deposit landscape.”
Data Points of Note
According to CD Valet, other points of note from its February analysis (which covers rate activity from January 04, 2026-February 03, 2026 for nearly 5,000 financial institutions and 40,000+ rates) include:
- In January, nearly eight of ten CD rates changes were a decrease.
- There were 3,542 CD decreases over the past month, averaging 23 basis points, compared to 919 increases averaging 32 basis points.
- Of the institutions that increased CD rates, approximately 62% were credit unions while approximately 38% were banks.
