bank rates

3 Top CD Rates At Island FCU In New York

New York state quarterIsland Federal Credit Union has a trio of decent special CD rates for its Long Island members.

First, it pays 1.00% APY on 4-month CDs with a $1,000 minimum deposit of new money.

We’d just about given up on terms with that short of a duration. The top nationally available 3-month CD on our CD Rates Leaderboard pays 0.45% APY – more than half of a percentage point less.

Also, with that $1,000 minimum deposit but no new money requirement, Island Federal Credit Union pays:

  • 1.10% APY for 11-month CDs.
  • 1.25% APY for 18-month CDs.

Both beat their corresponding standard terms by five one-hundredths of a percentage point.

You have to be a member of Island Federal Credit Union to purchase these certificates of deposit. Membership is open to anyone who lives, works, worships or attends school in the New York counties of Nassau or Suffolk, with the exception of East Hampton, Southampton and Shelter Island townships.

Membership requires a $1 deposit in a share savings account.

Members can buy CDs over the phone, online or at a branch.

Island Federal Credit Union has seven branches, in Bellmore, Hauppauge, Hicksville, Massapequa, Riverhead, Sayville and Selden.

Learn more about Island Federal Credit Union at www.islandfcu.org or call 631-851-1100.

See how these returns compare with the best CD rates from scores of banks in our extensive database.

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