The Island Federal Credit Union in New York launches its high yield CD ratse for its members. The 4-month certificate exceptional program earns depositors 5.12% APY for a minimum deposit of $1000. It also calls for new funds. This offer can be browsed on the union’s front page.

Interested individuals may visit their branches at Hicksville, New York and Hauppauge, Sayville.

According to Island Federal customer representatives, the special program might run for 2 weeks. She further clarified that the CD offer has no maximum deposits and doesn’t require a checking account.

The union’s representative further explains that Island Federal still lives by its motto “The best value for your dollar, the best service for your family.”

Like other credit unions it is very financially stable amidst the worries of consumers that banks offer higher rates to desperately gain extra deposits to boost their funds.

Membership can be initiated at the Who We Are Page of the Island FCU website. For a low minimum savings balance of $5, residents, students, and people who worship or are employed in Nassau County and Suffolk County can sign up. South Hampton, East Hampton, or Shelter Island is excluded from the special offer.

The Island FCU has been a federally chartered credit union providing financial services and products since 1955. It is a respected financial institution earning a Superior 5-star rating from BauerFinancial and a 4-star review from Bankrate.com based on collected studies last 30 June 2008.

The NCUA under its Charter # 10023 covers the credit union.