4.00% 8-Month CD at a New York CU - Jumbo (Teachers).

Update 3/22/08: The CD rate has gone down. Please check the financial institution's website for the latest rates.

Update 3/15/08: The Jumbo 8-month CD rate has fallen from 4.10% to 4.00% APY. The title has been modified to reflect this change.
Update 3/8/08: The Jumbo 8-month CD rate has fallen from 4.40% to 4.10% APY.

Teachers Federal Credit Union has a special 8-month Jumbo Certificate with a yield of 4.40% APY. The minimum deposit is $100,000.

Membership is open to those who live, work or worship in parts of Suffolk County. Also eligible are employees, students, family members and volunteers of Suffolk County schools, colleges and other sponsor groups. Please refer to the credit union's Membership Eligibility page for the full details. Membership requires a $1 deposit in the Share Savings Account.

It's a large credit union with $2.3 billion in assets and 177,231 members. It's federally insured by the NCUA (Charter # 8116).

Thanks to the reader who sent me info on this special CD.

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