Garden Savings Federal Credit Union is offering competitive interest rates for their long term certificate of deposit. Below are the current CD rates:

• 18 months        1.11% APY
• 2 years             1.21% APY
• 3 years             1.31% APY
• 4 years             2.06% APY
• 5 years             2.26% APY

The credit union requires a low minimum opening balance of $500. The earnings of this best CD account is paid depending on its term. If it is less than 1 year term then the interest rate is paid upon maturity. If it is 1 year term or greater then the interest rate is paid monthly. In case you decide to withdraw funds before the maturity date, you will have to shoulder an early withdrawal penalty which will be charge on your account.

You can also enjoy benefits that this certificate of deposit offers like free online banking with bill payment, and free electronic bank statement. Please remember that once CD account is opened the interest rate may change, so make sure to check with the credit union for the latest number.

Membership with Garden Savings Federal Credit Union is open to everyone who live, work, attend school, worship, volunteer, or do business in the cities of Jersey, Elizabeth, or Newark. If you are an active member of the credit union, your immediate family members are also eligible to join. You may also visit the credit union’s website to check the list of their field of membership.

You may complete the membership application online or if you are not comfortable putting your information online you may also visit one of the credit union’s office. You must also bring valid picture identifications like passport, driver’s license, or social security card when you apply. The membership also requires a minimum deposit of $5 on your new share savings account. Garden Savings Federal Credit Union has branches located in the cities of Morristown, Montville, Whippany, Newark, and Parsippany in the state of New Jersey.

Garden Savings Federal Credit Union was founded in 1968 to serve the financial needs of its members. This small credit union has 13,807 members with over $204.72 million in declared assets. The credit union is also a member of the National Credit Union Association with charter number 18710.