bank rates

Melrose Credit Union Is Back On Top

calculator and a penLongtime fan-favorite Melrose Credit Union has raised its CD rates for the first time in six months.

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

  • 2.12% APY for 60-month CDs.
  • 1.86% APY for 48-month CDs.
  • 1.61% APY for 36-month CDs.
  • 1.36% APY for 24-month CDs.
  • 1.10% APY for 12-month CDs.

Melrose Credit Union was a frequent leader back in the days when we included credit unions on our CD Rates Leaderboard.

With this rate hike, it would lead the 24- and 36-month terms and co-lead the 12-month term.

But that 60-month rate isn’t good enough to beat EverBank’s current offering of 2.16% APY.

You have to be a member of Melrose Credit Union to buy these certificates of deposit. Anyone can join, 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 www.melrosecu.org or call 800-235-0118.

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

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Comments (1)
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  1. Kathy at Bankaholic said:
    on March 28th at 06:28 am

    Melrose has just raised these rates:

    60-month now pays 2.27% APY
    48-month pays 2.02% APY
    36-month pays 1.66% APY
    24-month pays 1.41% APY
    12-month pays 1.15% APY