Island Federal Credit Union has two competitive certificates: a 2.40% APY 11-month CD and a 2.65% APY 18-month CD. These are also available in an IRA CD (Traditional, Roth and Education). Minimum deposit is $1,000. These rates are listed in the credit union's rate table as of 8/21/09. The effective date is 8/19/09 so hopefully, these rates will last for a while.
My last post of this credit union was in February of this year when it was offering a 3.10% 15-month CD and a 3.05% 7-month CD.
Membership is open to those who live, work, worship or attend school in Nassau County or Suffolk County (with the exception of the townships of East Hampton, Southampton or Shelter Island). Refer to the credit union's Who We Are page for more details. Membership requires a minimum balance of $5 the regular savings account.
Branches are located in Hauppauge, Sayville and Hicksville, New York.
Island FCU continues to have solid financial ratings for safety and soundness: 5 star rating (superior) at BauerFinancial and 4 star rating (sound) at Bankrate.com. Both ratings are based on 3/31/09 data. The credit union is federally insured by the NCUA (Charter # 10023).
Other Competitive Certificate of Deposit Rates