Dedicated to Deposits: Deals, Data, and Discussion
Island Federal Credit Union2.00%$1k-60 Month Certificate
Accounts mentioned in this post. Rates as of August 22, 2014

Top 30-Month CD Rate at Island FCU in New York - Local Only


Island Federal Credit Union

Island Federal Credit Union continues to have a few competitive CD and IRA CD rates. The best one is the 30-month CD which has 2.05% APY. The 5-year CD is also pretty good with a 2.74% APY. They used to have a good short-term CD special, but the current one isn't that great: 1.26% APY for 11 months. This special requires an Island Checking Account with VISA CheckCard and Direct Deposit (or pay 3 bills by Island Online Bill Payer). Minimum deposit is $5,000. These rates are listed in the credit union's rates page as of 3/3/2011.

The best 30-month CD rate available from an internet bank is 1.91% APY at USAA Bank but this requires a $175K deposit. The rate is 1.65% APY for a $1K minimum (rates accurate as of 3/3/2011).

Membership is open to those who live, work, worship or attend school in Suffolk County or Nassau County (with the exception of the townships of East Hampton, Southampton or Shelter Island). Please 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 Sayville, Hauppauge and Hicksville, New York.

Island FCU has an overall health score at of 4 stars (out of 5) with a Texas Ratio of 3.11% (excellent) based on December 2010 data. Please refer to the financial overview of Island Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 10023).

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Comment #1 by Wil posted on
Proponent FCU in Nutley, NJ has a better rate, 2.10% APY, for a 30-month CD.

Comment #2 by barnarbas posted on
it's a lot harder to join Proponet Federal Credit Union, they only allow certain employers

Comment #3 by Anonymous posted on
Island FCU is wonderful! I've been banking here for years and wouldn't go anywhere else!