bank rates

New York Deal: 11-Month CDs Paying 2%

This Long Island credit union is paying 2.00% on 11 month CDs.

Island Federal Credit Union has a great special on 11-month CD rates for its Long Island members.

It’s paying 2.00% APY with a $1,000 minimum deposit.

That’s nearly six-tenths of percentage point more than the top nationally available 12-month return on our latest CD Rates Leaderboard.

But you must be a member of Island Federal Credit Union ( to purchase these certificates of deposit.

Membership is open to those who live, work, worship or attend school in the New York counties of Nassau or Suffolk, with the exception of East Hampton, Southampton and Shelter Island townships.

To join, you must open a savings account and maintain a $5 balance.

Members can buy CDs over the phone, at a branch or online – although the online route can be confusing.

Island Federal Credit Union currently has four branches, in Brooklyn, Hauppauge, Hicksville and Selden, and can be reached by calling 631-851-1100.

See how this special compares with the best CD rates from scores of banks in our extensive database.

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Comments (1)
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One Existing Comment
  1. Mike Cetera said:
    on June 21st at 02:46 pm

    Island Federal Credit Union has dropped its 11-month CD rates to 1.20% APY.