5.30% 36-Month / 5.25% 24-Month CD at a New York CU (Municipal).

Update 12/29/07: These CD rates have fallen. Please see the credit union's website for the latest rates.

Municipal Credit Union has competitive rates on its share certificates. The top yield is 5.30% APY for a 36-month term. The 24 and 30 month CDs have a yield of 5.25% APY. The minimum deposit is $500. The rates are available as IRA certificates. Other CDs include a 5.10% APY 6 and 9-month CD, a 5.15% APY 12-month CD, and a 5.20% APY 18-month CD.

I had last reported on this credit union in March when the CD yields were as high as 5.64%. The current yields are not great, but they're still very competitive as you can see from my weekly rate summary.

Field of membership is primarily based on select employer groups which includes New York City employees, Federal or State employees who work in the five boroughs, and health care professionals (private or public) working in New York State. See site for the full list. Membership requires a minimum $5 deposit in the share savings account.

Branches are located in New York, Brooklyn, Bronx, Elmhurst, Staten Island, Elmont, Melville and Yonkers. The credit union is federally insured by the NCUA (Charter # 60153). It's a large credit union with $1.31 billioin in assets and 292,266 members.

Tags: New York, Municipal Credit Union, CD rates, IRA rates