New York Deal: CDs Pay As Much As 2.30%

SECNY Federal Credit Union has the highest 60-month CD rates we’ve found this week — and they’re even better for its central New York members able to make a significant deposit.

It pays 2.10% APY with a $1,000 minimum deposit and 2.30% APY with a $50,000 minimum deposit.

The lower of those two rates is still nearly a quarter of a percentage point higher than the top nationally available 5-year CD rate on our CD Rates Leaderboard.

It also offers 2.00% APY for 48-month CDs with a $1,000 minimum deposit and 2.10% APY with a $50,000 minimum deposit.

But you have to be a member of SECNY Federal Credit Union to buy these certificates of deposit — and have a checking account there in order to earn the top rates.

The good news: Its checking accounts have no monthly fees. So this restriction to buy CDs appears pretty minimal.

Membership is limited to anyone who lives, works, worships or attends school in the central New York counties of Onondaga, Madison, Oswego and Cayuga, and requires a $5 deposit in a share savings account.

Members have to buy CDs in person. There are seven branches, in Baldwinsville, Manlius, North Syracuse, Skaneateles and Syracuse.

Learn more about SECNY Federal Credit Union at www.secny.org or call 315-469-5599.

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