This is an area I know a little bit about, doing business with many banks and CU's using them each as their own bucket. Some, welcome bonus opportunities.
First, doing business with a bank or CU, is hit and miss if they want to inquire about a Chex system report. Not all of them will, but Chex systems is basically a reference to whether you've been a good or bad boy, doing business with a lending institution. If you don't have a negative interaction with a lender, they won't care. Even if you do, they still might not care. As for pulling this report for a CD, that's not logical nor necessary. It's a "hello, should we as a bank or CU, do business with you - based on your banking history" report.
Secondly, CU's are always going to offer you better percentages over a bank, usually in the form of their promo offers. Many CU's, won't enforce the "new money" only restrictions either, when you roll over. They simply don't want the money to leave their facility. Just make sure to send their online team an email, stating that you want all maturing CD money placed back into your account. As everything is online these days, you can set up a CD online with many entities, and you can capture the ideal promo rate while doing so.
Third, there is a time and place for everything. Banks vs CU's, each are situational. As for as CD's go, I would go CUs. In regards to high yield accounts, CU's place you through limitations for a higher percentage. Jump through the hoop kind of nonsense to acquire the 6-7% (capped at $7500). Or the swipe your debit card 20 times in a month nonsense. Banks won't do this, but they can offer decent, but discounted rates.
$XXX,XXX in credit lines. First digit isn't a one or two.
4-5 weeks in free credit reward vacations, booked through 2028.
$X,XXX in bank rewards in only 12 months.
I like FREE...
800+ FICO.
Making all numbers dance on a financial ledger.
Abuse that score responsibility for maximum gain.
