bank rates

Take Home 1.60% On 25-Month CDs In New York

For western New York savers willing to stretch a month, The Summit Federal Credit Union is offering a chance to outearn the top nationally available 2-year yield.

Paying 1.60% APY on 25-month certificates, Summit edges ahead of the 1.55% APY you can earn over 24 months from the banks on our CD Rates Leaderboard.

It’s not an enormous margin, but a search through Bankrate’s extensive database of the day’s best CD rates will likely show few, if any, deals to beat Summit’s.

Membership in the credit union is offered to anyone who lives or works in Buffalo, Geneva, Rochester, Syracuse or Tonawanda, as well as all of Cortland County and the towns of Amherst, Henrietta and Tonawanda.

In addition, employees, retirees and volunteers of almost 1,000 member companies can join, as can immediate family of an eligible member, even if that person has not become a member themselves.

Joining Summit and opening one of its certificates of deposit can be done online, by mail or in person at one of the credit union’s 18 branches.

A minimum $500 deposit of new money is required.

For dozens more top-paying local deals like this one, check out our constantly updated roundup of the nation’s best credit union and community bank CDs.

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