5% 15-Month CD at a New York CU

Here's another holiday theme CD deal. The Capital Communications Federal Credit Union is offering a 15-month 5.00% APY CD. There's only a $500 minimum deposit requirement.

There's also a 13-month 4.50% APY CD with a $500 minimum deposit requirement. I don't know why anyone would pick the 4.50% CD. An extra 0.50% for just 2 months seems like an easy choice.

There are two other CDs with a unique feature. You can withdraw up to $1K a month without a penalty. They're called Monthly Allowance CDs. The 21-month certificate earns 4.35% APY and requires $5K minimum deposit. The 57-month certificate earns 4.75% APY and requires $15K minimum deposit. $500 has to remain in the CD to earn the APY. If the rates on these Monthly Allowance CDs were over 5%, they could be better deals than the 15-month 5% CD. But with the rates being lower, I don't see any advantage.

The field of membership includes anyone who lives, works, worships or attends school in the New York State cities of Albany, Cohoes, Mechanicville, Rensselaer, Schenectady, Troy, Watervliet or the Town of Green Island. There is also a long list of eligible employee groups.

Branches are located in Albany, Troy, Latham, Clifton Park and Niskayuna New York.