bank rates

Long Island Deal: 2.00% on 4-Year CDs

We’re always happy to find CD deals that pay 2% or more, and Island Federal Credit Union has us smiling.

It’s paying New York savers 2.00% APY for 48-month certificates of deposit.

You can try searching Bankrate’s extensive database of the best CD rates from hundreds of banks and credit unions, but we suspect you’ll have a hard time beating Island Federal’s deal.

It matches the best nationally available 48-month return offered by the banks on our CD Rates Leaderboard.

That yield is also good enough to land Island Federal a spot in our rankings of the best local deals from credit unions and community banks around the country.

Island Federal serves the New York counties of Nassau and Suffolk, with the exception of East Hampton, Southampton and Shelter Island townships. Members of New York City area locals of the Communications Workers of America are also eligible to join.

The minimum deposit is a reasonable $1,000, and CDs are sold by phone, online or at one of the credit union’s seven branches in Bellmore, Hauppauge, Hicksville, Massapequa, Riverhead, Sayville and Selden.

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