Competitive Jumbo Money Market and CD Rates at Teachers FCU in New York

Teachers Federal Credit Union is offering a special 11-month Jumbo certificate with a 2.60% APY. Minimum deposit for Jumbos is $100,000. The credit union also has competitive rates on its Tiered Money Market Account with a 2.42% APY for a $100,000 balance and a 2.16% APY for balances between $50,000 and $100,000. These rates are listed in the credit union's rate table as of 5/11/2009.

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.

Teachers FCU has strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 12/31/08 financial data. The credit union federally insured by the NCUA (Charter # 8116). It's a large credit union with $2.7 billion in assets and 189,227 members.

Thanks to the reader who mentioned this money market account in the comments.

Tags: New York, money market accounts, Teachers Federal Credit Union, CD rates, IRA rates