bank rates

Top 2-, 5-, 7-Year CD Rates at N.Y. CU

Montauk Credit Union offers its top rates with a $2,500 minimum depositA tiny Manhattan credit union is offering CD rates that pay nearly a third of a percentage point better than the top nationally available leaders.

Anyone can join Montauk Credit Union, but you must do so in person. So this is probably a good place to bank for New Yorkers only.

With a minimum deposit of $2,500, Montauk pays:

  • 1.50% APY for 24-month CDs.
  • 2.50% APY for 60-month CDs.
  • 2.75% APY for 84-month CDs.

With the best nationally available 60-month CDs on our CD Rates Leaderboard paying just 2.20% APY, Montauk’s long-term CD rates look especially appealing.

In particular, the 7-year CD rate would be a nice fit if you employ a strategy of buying certificates of deposit with the highest rates and the longest maturities. There are only a few local banks and credit unions that offer higher CD rates.

Its 24-month CDs pay well above the top nationally available rate of 1.34% APY as well.

Membership is free (although you must open an account and deposit $25) and available to anyone. But you must visit the credit union to buy these CDs.

Montauk Credit Union ( has a single office at 111 W. 26th St.

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

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Comments (5)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 5.00 out of 5)
5 Existing Comments
  1. Kathy at Bankaholic said:
    on October 13th at 11:20 am

    These rates are all still available.

  2. Kathy at Bankaholic said:
    on October 17th at 07:49 am

    You can still get all of these rates.

  3. Kathy at Bankaholic said:
    on October 24th at 07:53 am

    Montauk’s rates are still being offered.

  4. Kathy at Bankaholic said:
    on October 25th at 06:50 am

    Two-plus years out, Montauk has lowered these rates a quarter point:

    84-month = 2.50% APY
    60-month = 2.25% APY
    24-month = 1.25% APY

  5. Kathy at Bankaholic said:
    on January 24th at 08:39 am

    Montauk has raised these rates, so they are back to what they were when this was posted in 2011:
    84-month CD = 2.75% APY
    60-month CD = 2.50% APY
    24-month CD = 1.50% APY