bank rates

Long Island Deal On Long-Term CD Rates

Teachers Federal Credit Union offers its top CDs for a $1,000 minimum deposit.Teachers Federal Credit Union has a trio of great CD rates for Long Islanders.

With a $1,000 minimum deposit, it’s paying:

  • 1.85% APY for 36-month CDs.
  • 2.15% APY for 48-month CDs.
  • 2.35% APY for 60-month CDs.

While those are all way better than the top nationally available CD rates for their corresponding terms on our CD Rates Leaderboard, that 60-month CD rate beats its term leader by a full four-tenths of a percentage point.

You have to be a member of Teachers Federal Credit Union (www.teachersfcu.org) to purchase these certificates of deposit.

Membership is available to those who live, work or worship in the Long Island counties of Nassau and Suffolk, not including Southampton, East Hampton and Shelter Island townships.

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

Members can buy CDs online, by mail or fax, or in person at one of Teachers Federal Credit Union’s 23 New York branches, which are located in Amityville, Bay Shore, Central Islip, Commack, East Northport, Farmingville, Hauppauge, Holbrook, Huntington, Nesconset, North Babylon, Oakdale, Port Jeff Station, Riverhead, Rocky Point, Selden, Shirley, Smithtown, South Setauket, Stony Brook (on the SUNY campus) and Upton (at Brookhaven National Lab).

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

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Comments (2)
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2 Existing Comments
  1. Kathy at Bankaholic said:
    on February 5th at 12:37 pm

    Teachers FCU has lowered all of these rates: 36-month CD is now 1.75% APY; 48-month is 2.00% APY; 60-month is 2.26% APY.

  2. Kathy at Bankaholic said:
    on February 23rd at 10:30 am

    The lower rates are still available.