bank rates

Melrose Credit Union: Big CD Rate Boost

Woman holding a piggy bank with her right handFor the first time in three months, Melrose Credit Union has hiked its CD rates, driving already impressive yields even higher.

With the increase, it now extends its lead over three terms on our CD Rates Leaderboard and ties the best nationally available deal in a fourth term.

With a $5,000 minimum deposit, Melrose now pays:

  • 1.15% APY on 12-month CDs (up from 1.10% APY)
  • 1.41% APY on 24-month CDs (up from 1.36% APY)
  • 1.66% APY on 36-month CDs (up from 1.61% APY)
  • 2.02% APY on 48-month CDs (up from 1.86% APY)
  • 2.27% APY on 60-month CDs (up from 2.12% APY)

Before the rate hike, Melrose already topped the best 12-, 24- and 36-month CD rates. The hike ties the new top 60-month offer on our Leaderboard. (We don’t track 48-month CDs.)

We’ve long been impressed with Melrose because of its ease of membership. Anyone can join and purchase certificates of deposit, regardless of where they live or work.

Membership requires a $1 membership fee and a $25 deposit in a savings account.

Members can buy CDs by mail or in person.

Melrose Credit Union has a single office in the Briarwood neighborhood of the New York City borough of Queens.

Learn more about Melrose Credit Union at or call 800-235-0118.

Compare Melrose Credit Union’s returns with the best CD rates from scores of banks in our database.

UPDATE 2/6/15: Melrose has changed rates again: 60-month now pays 2.27% APY; 48-month, 1.92% APY; 36-month, 1.56% APY; 24-month, 1.31% APY; 12-month, 1.05% APY

UPDATE 12/12/14: Here’s what Melrose is paying now: 60-month: 2.37% APY; 48-month: 2.02% APY; 36-month: 1.66% APY; 24-month: 1.41% APY; 12-month: 1.15% APY.

UPDATE 11/21/14: Melrose has changed most of these rates. The 48-month now pays 1.91% APY; the 36-month pays 1.56% APY; the 24-month pays 1.31% APY; and the 12-month pays 1.05% APY.

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