bank rates

Bay Ridge Federal Credit Union: 5 Top CDs

Man holding arms out as money floats down from the sky
UPDATE 5/26/15: Bay Ridge’s rates have fallen since the original post. It now pays 0.75% APY on both 6- and 12-month CDs; 1.01% APY on 24-month CDs; 1.25% APY on 36-month CDs; and 1.50% APY on 48-month CDs.

By ponying up a little more than the typical minimum deposit, Bay Ridge Federal Credit Union’s members have their pick of top CD rates.

With a $20,000 minimum deposit, it pays:

  • 1.01% APY for 6-month CDs.
  • 1.25% APY for 12-month CDs.
  • 1.50% APY for 24-month CDs.
  • 1.75% APY for 36-month CDs.
  • 2.00% APY for 48-month CDs.

Where do we start?

All easily beat the top nationally available CD rates for their corresponding terms on our CD Rates Leaderboard.

But the 36-month CD beats its term leader by more than a quarter of a percentage point.

You must be a member of Bay Ridge Federal Credit Union to buy these certificates of deposit.

Membership is open to members and employees of various New York City metropolitan area corporate limousine groups, schools and community districts and organizations, as well as branches of the International Longshoreman’s Association.

But anyone who lives in the metropolitan area can become a member by first joining the Brooklyn Consumer Federation, which costs $10.

Bay Ridge Federal Credit Union has no membership requirement or fee.

Members have to buy CDs in person at one of the credit union’s two Brooklyn branches, situated at 1750 W. 86th St. and 1609 Avenue Z.

Learn more about Bay Ridge Federal Credit Union at www.brfcu.org or call 718-680-2121.

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

UPDATE 3/6/15: Bay Ridge has lowered its 6-month rate to 0.75% APY.

UPDATE 10/21/14: Bay Ridge has lowered four of these rates: 12-month now pays 1.01% APY; 24-month pays 1.25% APY; 36-month pays 1.50% APY; 48-month pays 1.75%.

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