Credit unions are trumping banks when it comes to average certificate rates, according to a new GoBankingRates.com study. Rates on $10,000 certificates are 44% higher at credit unions than at banks, said the Los Angeles-based personal banking website.

The study found that the top CD rates were  offered by the $400 million, 42,000-member America's Credit Union at Joint Base Lewis-McChord, Wash., and the $147 million, 2,900-member Montauk Credit Union in New York City.

"The fact is credit unions destroy banks with higher rates and lower deposit requirements," said Casey Bond, managing editor of GoBankingRates.com. "There are definitely better deals on the local level in general, but right now, even community banks can't keep up with the savings credit unions are providing members."

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