5.35% 12-Month CD at a New York CU (Open To All?)

Melrose Credit Union has some very high rates on its share certificates. The one year CD has an APY of 5.35%. The APY of the 5-year CD is 5.77%. Below is the full list of rates:

Term      APY
1 year    5.35%
2 year    5.46%
3 year    5.56%
4 year    5.67%
5 year    5.77%

The minimum deposit requirements is $5K. IRA certificates at these same rates are also available. You can even get an extra 25 basis points on these terms with a jumbo CD. However, the jumbo is not the typical jumbo. The minimum jumbo CD deposit is $1 million.

Melrose CU doesn't have a typical field of membership. It appears open to anyone in the US. Here a quote from the membership page:

Since Melrose Credit Union has an open New York State charter there are no geographic or group affiliation field of membership restrictions. So, regardless of where you live or how you earn a living, you may qualify for membership.

I've sent the credit union an email to confirm that those from out-of-state can join and if membership and CDs can be opened by mail or online.

Melrose CU is located in Briarwood, New York. It's a small credit union in terms of members with less than 15,000 but it's a medium size in terms of assets with over $740M. Perhaps there are several members who have jumbo CDs. The credit union is NCUA insured.