5.50% to 6.50% 12-Month March Madness CD at New York CU (Countryside)

Countryside Community FCU is again having a special March Madness Certificate. The base rate is 5.50% APY for a 12-month term. The minimum deposit is $2,000. If you pick the winning brackets, the yield is increased to 6.50% APY. An additional 0.10% APY is added for each correct Final Four team. An additional 0.20% APY is added for each Final Two team, and an additional 0.20% is added for the National Championship. Picks must be received by 3/21/07.

Field of membership includes those who live, work, worship, or attend school in Onondaga County, New York. The county seat is Syracuse. Membership requires a $5 minimum deposit in the savings account.

Countryside had the same promo last year, but the rates were 0.60% less. Since Syracuse didn't make it to the Final Four last year, Countryside probably didn't have to pay out much.

The credit union is federally insured by the NCUA. It has $96.9 million in assets and 6,359 members.

Tags: New York, Countryside Federal Credit Union, CD rates