Dedicated to Deposits: Deals, Data, and Discussion

High CD Rates Continue at Progressive Credit Union in New York - Limited Membership


Progressive Credit Union
Progressive Credit Union continues to offer very competitive CD rates. The rates as listed in the credit union's rate table as of 11/29/09 include:
  • 2.78% APY 12 month
  • 2.89% APY 15 month
  • 2.88% APY 18 month
  • 3.03% APY 24 month
  • 3.56% APY 36 month
  • 4.06% APY 60 month
A reader mentioned in the comments that these CD rates are scheduled to fall 50 basis points on all terms except the 5-year term on Tuesday. These rates will still be competitive even with a 50bps rate cut.

The reader also mentioned that he had opened one of these CDs last week. Hopefully, he'll be willing to provide recommendations since the only way one can qualify to join this credit union is if you have a letter of recommendation from an existing member. In my February post several readers left comments asking for help from existing members, but they didn't have any luck. Hopefully, we'll have better luck this time. Feel free to ask for recommendations in the comments. If a few readers are able to join, perhaps they can spread the effort of providing recommendations so many readers will be able to join.

Refer to the credit union's About US page for more details about eligibility. Membership requires a $10 deposit and a $2.50 membership fee.

Progressive is a small, one-office credit union located in New York, New York.

The credit union's ratings for safety and soundness are average: 3 stars (performing) at and 3 stars (adequate) at BauerFinancial. Both ratings are based on 6/30/09 financial data. It's federally insured by the NCUA (Charter # 60064).

Thanks to the reader who commented about this credit union in the bank deals hub

Other Competitive Certificate of Deposit Rates

  Tags: New York, CD rates, Progressive Credit Union

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Comment #1 by me2u1004 (anonymous) posted on
I certainly would appreciate a letter of recommendation to join the credit union. I have been wanting to join for some time but don't know any member.

If any member should read this, please get in touch and let us arrange for a letter. I presume it will be nothing more than one sentence saying to let me join.


Comment #2 by Aise Hi (anonymous) posted on
Aise Hi
can somebody please provide a recommendation to me. I already have a credit union from school in Florida but need something in NY which is now closer to me.

Comment #3 by Anonymous posted on
I would be very grateful if someone would be willing to provide a recommendation for me. Please contact me offline at Thanks, Howard.

Comment #4 by frank (anonymous) posted on
I would pay someone $50 for a letter of recommendation. If interested please email me at
Thank you

Comment #5 by b (anonymous) posted on

I am a New Yorker and very excited to join this credit union. My wife teaches at a CUNY college and I am also a teacher in the city.

If any members reading this would be willing to recommend us, we would be incredibly pleased. I have been looking to leave the world of commercial banking behind for a good credit union. This looks like one of the best.

Please click on my name above the post to send me an email.


Comment #6 by anonymous77 (anonymous) posted on
Did anyone have any luck finding members willing to offer the required 'recommendation' for membership?

From my personal experience stopping by Progressive's NYC headquarters, they are serious (dour, even) about the 'member recommendation' requirement, although the rep I spoke to seemed not to know the reason for it.  She also offered no information on how one might locate a member.  Thus, it seems almost like a cabal of sorts. ;)

Comment #7 by Anthony (anonymous) posted on
Can I please get a recommendation to join progressive CU. I've tried for months but cannot find anyone. My email is thanks

Comment #8 by Anonymous posted on
I am a healthcare provider in NY and would pay $50 for a letter of recommendation. Please email me at Replys are descreet. Thanks, Harry.

Comment #9 by Anthony Lopez (917)868-3941 (anonymous) posted on
Anthony Lopez (917)868-3941
hi to any member or someone here who is a new member, I will make it very easy for you to recommend me.  Here is my cell which you can text or ring anytime and weekends too.  Anthony (917) 868-3941 or email me at  I will do all the work of drafting up the letter and printing it and all and i will show up to the progressive office at your convenience to meet you and all or we could meet before hand if you prefer.  Welcome the good Karma from this and I will  help you out in some way with some good advice. Lived in NYC for 17 years and know alot about landlord tenant issues, parking tickets, city life in general.  thanks Anthony