| Bank or Credit Union | Apy | Min | Max | Product | |
| Progressive Credit Union | 2.32% | - | - | 5 Year CD | |
| Progressive Credit Union | 1.61% | - | - | 3 Year CD | |
| Progressive Credit Union | 1.36% | - | - | 2 Year CD | |
| Progressive Credit Union | 1.11% | - | - | 18 Month CD | |
| Progressive Credit Union | 0.80% | - | - | 1 Year CD | |
| Progressive Credit Union | 0.80% | - | - | 15 Month CD |
Top CD Rates Continue at the Exclusive Progressive Credit Union in New York City
Several readers have been wanting to join Progressive Credit Union, but its unique field of membership doesn't make it easy. According to the credit union's About Us page:
In order to become a member, an individual or credit union needs to be recommended by another member.
Readers have been trying to find members willing to give them recommendations, but there doesn't seem to be many members out there, and strangely, the number has been going down. When I reported on this credit union in January, the latest NCUA data showed a total of 5,905 members. That's now down to 5,344 members. Those ex-members must not be savers. If they were savers, they would be sticking with Progressive for its very competitive CD rates. Below are the current CD and IRA CD rates as listed in the credit union's rates page as of 9/19/2011:
- 1.41% APY 12-month CD
- 1.51% APY 15-month CD
- 1.51% APY 18-month CD
- 1.66% APY 24-month CD
- 2.17% APY 36-month CD
- 3.03% APY 60-month CD
Another plus with these CDs is an early withdrawal penalty of only 180 days of interest for terms of 3 and 5 years. Shorter terms have a penalty of only 90 days. These are listed in the right column of the rate table.
Progressive Credit Union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with at 6.45% (excellent) based on June 2011 data. Please refer to our financial overview of Progressive Credit Union. The credit union is federally insured by the NCUA (Charter # 60064).
How These Rates Compare
There is one other small NYC credit union that has even higher CD rates. It's Self Reliance New York FCU, but it's even harder to qualify to join unless you have direct ties to the Ukraine. These two are the rare institutions offering over 3.00% APY on a 5-year CD. Nationally available 5-year CD rates don't come close to 3.00% these days. The highest rate is currently 2.68% APY at Melrose Credit Union (as of 9/19/2011).
Searching for the Best CD and IRA CD Rates
To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com:
Banks Mentioned in this Post:
- Weekly Rate Summary
- Bank Reviews
- Bank Health Ratings
- Savings Account Rates (filterable)
- CD Rates (filterable)
- IRA Rates (filterable)
- Checking Accounts (filterable)
- 40 Ways to Get the Most Out of Your Bank
- The Big List of Credit Unions Open to Anyone
- What Do You Need to Open a Bank Account?
- Difference Between Banks and Credit Unions
- Interest Rate vs. APY
- Difference Between Wire Transfer and ACH
- How ACH Transfers Work
- Do I Have to Pay Taxes on Bank Account Interest
- How to Build a CD Ladder
- Blog Archive
- Popular Blog Categories
3-year Term IRA CD
1.21% APY
Capital One 360
360 Checking Account
0.85% APY
me1004 - #1, Monday, September 19, 2011 - 1:07 PM
Just once again, if any Progressive member could see fit to provide me the necessary recommendation to join, I would appreciate it. If there is some standard for that recommendation, we don't know what that might be, but I very likely would meet it. For this recommendation only, you can contact me at: me2you1004@yahoo.com. Thanks.
will009 - #3, Monday, September 19, 2011 - 3:56 PM
Somebody needs to camp out outside the Progressive office and wait until a member comes out and then see what can be done.
Anonymous - #5, Monday, September 19, 2011 - 5:01 PM
Thats what I did Will and it worked - so be creative
C CHECKER (anonymous) - #8, Tuesday, September 20, 2011 - 7:32 AM
Hope operation twist is a hit will sell more music what happened to comments 2 yet 3 4 5 remain o yea and i quote they are being ligtt heated quite hypocritical in my book
noram ok (anonymous) - #11, Tuesday, September 20, 2011 - 12:10 PM
com e on ken 10 has got to go
Anonymous - #16, Friday, September 23, 2011 - 6:24 AM
hay 14 check w scotty j he has a better body part that is twisted
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