Top CD and Money Market Rates at Self Reliance New York FCU - Local Only
Self Reliance New York FCU is another small NYC credit union which offers very competitive CD rates. The credit union current has some very competitive short term rates as of 4/15/2010:
- 1.75% APY 3 months
- 1.95% APY 6 months
- 2.00% APY 9 months
- 2.30% APY 12 months
- 2.40% APY 18 months
- 2.65% APY 24 months
The longer term rates are not quite as competitive:
- 2.70% APY 30 months
- 2.80% APY 36 months
- 2.90% APY 48 months
- 3.50% APY 60 months
Minimum deposit is $500. The money market account and IRA are also very competitive. The money market account has a 1.87% APY. Minimum balance is $2,500, and withdrawals are required to be at least $500. The IRA savings account has a 3.67% APY. These rates are listed in the credit union's rate table as of 4/15/2010.
It has been just over a year since my last post on this credit union. They do have a history of top rates. I had forgotten to mention them in my list of the small NYC credit unions offering the best rates in New York City. Fortunately, a reader reminded me of them in the comments.
Membership is open to members of the Selfreliance Association of American Ukrainians. More details are listed at the bottom of the credit union's About Page:
To become a member at Self Reliance (NY) Federal Credit Union one must first qualify for membership at the Selfreliance Association of American Ukrainians. There are branches of the Association in New York City at 98 Second Avenue, New York, in Uniondale and Kerhonkson New York. An initial minimum deposit of $50.00 is required to open a basic share account, plus a $5 membership fee to the Selfreliance Association.
This appears to have changed from last year. In the current description it only says you first must qualify for the association. Last year it provided the requirements to qualify for the association such as being of Ukrainian descent. So perhaps Selfreliance Association has made it easier to qualify for membership.
The credit union continues to have strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 5 stars (superior) at Bankrate.com (based on 9/30/09 data). The credit union is federally insured by the NCUA (Charter # 7217).
Thanks to the reader who mentioned this credit union in the comments
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