Melrose Credit Union Offers Competitive CD Interest Rates Ranging from 3.03% to 3.91% APY for 1 to 5 year Deals
The Melrose Credit Union still offer competitive cd interest rates even though banks have cut the gains recently. Their best cd rates are ranging from 3.03% APY for their 1 year deal to 3.91% APY for their 5 year program. Other certificates gain 3.19% APY (2-year), 3.34% APY (3-year), and 3.49% APY (4-year).
These accounts require a minimum funding of $5000.They are also available as IRA certificates for a minimum deposit of $4000.
Jumbo certificates have best cd rates of 25 basis points higher than their regular certificates of deposit. This account needs at least $1 million of funding.
Some readers shared their experience with the slow account setup by the Melrose staff. Following up will be good so you can take advantage of the good rates before they drop.
Early withdrawal penalties appear to be 90 days of earnings for certificate of deposits for the 12 month deal. CDs which have longer than 12 months term will be deducted with 180 days of penalty.
The Melrose Credit Union welcomes individuals from any state who would like to sign up for membership. They can do this since they have an open NY State charter which does not restrict the affiliations by geography or group association.
Bankrate.com and BauerFinancial issued 4 and 5 stars, respectively, when they reviewed the financial performance of Melrose Credit Union using their September 2008 data.
The union has offices in Queens, New York specifically in Briarwood. Melrose is a member of the NCUA through charter # 62005.
I have a CD that is maturing on 2/13 and I would like to invest the money in your one year CD with an intrest rate of 3.03%. Please send me the particulars to do this.
The maturing amount is $57,000 and we will add a personal check for $20,000, making $77,000. I live in Missouri.
Comment by Rosalie Smith — January 14, 2010 @ 5:25 pm