Dedicated to Deposits: Deals, Data, and Discussion

6.00% 6-Month CD at a New York CU (Empower)

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Empower FCU is offering a 6.00% APY 6-month share certificate. The minimum deposit is $500. It's available for both regular and IRA share certificates. According to the front page, the certificate special runs through May 31st.

Field of membership includes those who live, work, worship or attend school in several New York cities including Buffalo, Fulton, Syracuse and Utica. See site for complete list. You can also be eligible to join via a company or an association. There are many societies and associations listed including the American Cancer Society and the Boy Scouts of America. Another one is The Society of Creative Anachronism, Inc. Membership is open to all and can be done online for a minimum cost of $20.

The credit union is federally insured by the NCUA (Charter # 3025). It has $309.5 million in assets and 32,499 members.

Thanks to the commenter who mentioned this special in the finding deals post.
  Tags: New York, CD rates

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Comments
4 comments.
Comment #1 by Anonymous posted on
Anonymous
Although the front page of the website implies the promo runs through 5/31/2007, the fine print on the linked PDF flyer states they can withdraw it at any time. I assume the fine print controls.

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Comment #2 by Anonymous posted on
Anonymous
Well, I called them today about noon NY time. The CSR didn't know about the Society for Creative Anachronism qualification for membership. She put me on hold and checked with her Supervisor and apparently that CSR didn't know about it either. The CSR said she would call if there was a way for an Arizona resident to qualify for membership. It was fun to reading the "History" portion of the "About Us" link!

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Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
I should have mentioned that I found that Society listed on page 22 of their SEG document (pdf). I hope the list is accurate.

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Comment #4 by Anonymous posted on
Anonymous
This deal continues to be active as of this writing; but Empower has ceased heavy advertising. I was able to become a member by means open to anyone, provided you can visit a branch one time, earlier in the week. I do not know whether joining can be accomplished by mail. I would rate the difficulty of becoming a member as the rough equivalent of joining Justice FCU, for those who participated in that deal a few weeks back. It's a pretty big hassle, but not insurmountable. For my trouble I netted an APR of circa 6.07, with the APY being higher of course. To me that's a high rate. Empower FCU only recently was formed and they are still working their way through some growing pains. Empower FCU came into being earlier this year when Empire FCU and Power FCU joined together. If you try for this, good luck.

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