Hudson Valley CU is offering several competitive CD and IRA CD Rates. The rates are not great, but they are respectable in today's low-rate environment. The credit union also provides a nice bump in rates (extra 0.15%) for IRA CDs. Below are some of the best deals as listed in the credit union's rates page as of 7/12/2010:
- 3.00% APY 60-month CD (3.15% IRA)
- 2.40% APY 36-month CD (2.55% IRA)
- 2.00% APY 24-month CD (2.15% IRA)
- 1.50% APY 12-month CD (1.65% IRA)
- 1.20% APY 6-month CD (1.35% IRA)
Minimum deposit is $500. Higher CD rates are available for Jumbo CDs: extra 0.10% for $50K and an extra 0.20% for $100K. According to the Truth in Savings disclosure (pdf), the early withdrawal penalties are a smaller than average: 30 days interest for 11 month terms and under, 60 days interest for 12 months to under 24 months, 90 days interest for 24 months to under 36 months, 120 days of interest for 36 months and above.
Membership is open to anyone who lives, works, worships, volunteers or attends school in Dutchess, Ulster, Orange or Putnam County New York. Please refer to their Membership page for more details. Membership requires a minimum deposit of $5 into your savings account.
Branches are located in several cities in New York State.
The credit union's ratings for safety and soundness are above average: 5 stars (superior) at BauerFinancial, 3 stars (performing) at Bankrate.com and an overall health score of 4 out of 5 at DepositAccounts.com (see our Hudson Valley Credit Union financial overview). These ratings are based on March 2010 data except for Bankrate which is based on 12/31/09 data. The credit union is federally insured by the NCUA (Charter # 15802). It's a large credit union with $2.8 billion in assets.
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.
Edits: Added info on Jumbo CD rates and added Putnam County to FOM.