People’s Alliance Credit Union has a money in the bank opportunity with their certificate of deposit which has the best interest rates. The credit union has the following current CD rates:

• 3 month       0.49% APY
• 6 month       0.69% APY
• 9 month       0.79% APY
• 1 year          0.90% APY
• 2 year          1.31% APY
• 3 year          1.68% APY
• 4 year          2.00% APY
• 5 year          2.24% APY

This money in the bank deal requires you to deposit a minimum of $500 to open an account. Please do remember that once your certificate of deposit account is opened you are no longer allowed to make additional deposits. There is also a penalty for early withdrawal. According to the credit union that their early withdrawal penalty is equivalent to 3 months of interest, and this applies to all CD terms.

The dividends of these top certificates of deposit are compounded and credited every month. You can choose to have it deposited on to your other accounts with People’s Alliance Credit Union or request a check to be mailed to you. These best CD accounts automatically renew once they mature. You can make changes on your certificate of deposit account or withdraw funds within the given grace period to avoid penalty.

Membership with People’s Alliance Credit Union is open to anyone who live, worship, attend school, or work, and in businesses and other legal entities located in several counties in New York including several districts in Brooklyn,New York. Membership is also open to those who reside or work in Hialeah and Miami, Florida. Members of their select employee groups and their family members are also eligible to join.

Individuals who want to apply for membership may call the credit union and request for a copy of their membership form. Once you have received the application, you just need to fill it up and along with it you need to submit a copy of your valid picture ID like driver’s license, passport, or social security card. You also need to open a Prime Share Savings account which will require a minimum of $50. Then mail it back or bring it to the credit union’s office.

If you still have questions with regard to their field of membership, certificate of deposit rates, or requirements you may call their member service line at 631-434-3500. People’s Alliance Credit Union has branches located in the cities of Hauppauge, Yonkers, Westbury, Ronkonkoma, Bronxville, Brooklyn, and Jamaica in the state of New York. They also have a branch in Miami, Florida.

People’s Alliance Credit Union has been assisting its members with their financial needs since 1940. Currently, they have grown to have 38,476 members with over $217 million in declared assets. The credit union is federally insured with the National Credit Union Association and has a charter number 3633.