bank rates

N.Y. Credit Union Offers 2.33% CD Rates

Greater Metro Federal Credit Union offers its CD rates with a $500 minimum deposit.New York’s Greater Metro Federal Credit Union has a string of decent CD rates, but it’s too bad membership is somewhat limited.

With a $500 minimum deposit, it pays:

  • 1.31% APY for 24-month CDs.
  • 1.77% APY for 36-month CDs.
  • 2.02% APY for 48-month CDs.
  • 2.33% APY for 60-month CDs.

While all beat the top nationally available CD rates for their corresponding terms on our CD Rates Leaderboard, the 60-month CD rate is the best deal.

That’s a third of a percentage point higher than the 60-month term leader.

You have to be a member of Greater Metro Credit Union to buy these certificates of deposit.

Membership is only open to employees, retirees and pensioners in the Manhattan area of IBM, the Veterans Affairs Medical Center New York, the Interchurch Center, Visiting Nurse Service of New York, FedCap Rehabilitation Services Inc., the Population Council and the General Theological Seminary of the Episcopal Church.

The website notes that the list isn’t all-inclusive but that most members are employees of one of those groups.

In addition, members’ immediate family members can join.

Membership requires a $5 deposit in a share savings account.

Members must buy CDs at one of Greater Metro Federal Credit Union’s two branches.

Its main branch is on Long Island, at 31-10 37th Ave., Suite 403; a second branch is on the second floor of the VA Medical Center, at 423 E. 23rd St.

Learn more about Greater Metro Federal Credit Union at www.greatermetrofcu.org or call 718-361-1002.

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

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