| Bank or Credit Union | Apy | Min | Max | Product | |
| Peoples Alliance Credit Union | 1.56% | $500 | - | 5 Year CD | |
| Peoples Alliance Credit Union | 1.45% | $500 | - | 4 Year CD | |
| Peoples Alliance Credit Union | 1.29% | $500 | - | 3 Year CD | |
| Peoples Alliance Credit Union | 0.95% | $500 | - | 2 Year CD |
Top CD Rates in Miami & NYC at People's Alliance Federal Credit Union
People's Alliance Federal Credit Union continues to offer competitive CD rates. The rates have gone down since my last post, but they remain competitive. Another plus is that the early withdrawal penalty is only 3 months of interest. A reader who opened a CD at this credit union informed me of this penalty (I wasn't able to find the disclosure online so make sure you request one before opening a CD.) The best CD rates are currently 2.24% APY for 5 years, 2.00% APY for 4 years, 1.68% APY for 3 years and 1.31% APY for 2 years. Minimum deposit is $500. These rates are listed at the credit union's rates page as of 10/28/2011.
People's Alliance offers a free checking account with no minimum balance requirement and with no monthly maintenance fee. It also belongs to ATM networks which gives members surcharge-free access to ATMs nationwide.
Membership into People's Alliance FCU is open to those who live, work, worship or attend school in several areas of New York including parts of Brooklyn, New York, and in Miami and Hialeah, Florida. You can also be eligible via Select Employer groups and via family. Please refer to the credit union's Membership page for more details. Membership requires a minimum deposit of $50 into the prime share savings account.
People's Alliance Federal Credit Union branches are located in the New York cities of Jamaica, Brooklyn, Bronxville, Ronkonkoma, Westbury, Yonkers and Hauppauge, and in Miami, Florida.
The credit union has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 9.12% (above average) based on June 2011 data. Please refer to our financial overview of People's Alliance Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 3633).
How These Rates Compare
The best nationally available 4-year CD rate is 2.20% APY ($25K minimum) at Alliant Credit Union and the best 5-year CD rate is 2.68% APY at Melrose Credit Union. You can get a little higher rates at Digital Credit Union, but this requires a relationship checking.
Searching for Top CD and IRA CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com. For IRA CD rates please refer to the best IRA rates section.
Banks Mentioned in this Post:
- Weekly Rate Summary
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- 40 Ways to Get the Most Out of Your Bank
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- What Do You Need to Open a Bank Account?
- Difference Between Banks and Credit Unions
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3-year Term IRA CD
1.21% APY
Gail W. (anonymous) - #1, Friday, October 28, 2011 - 12:51 PM
Ken-
Interesting post, but I don't understand why those 5-yr. rates are so worthy of mention. Elsewhere in NY, many CU's have the same or better. Examples: Bethpage CU, Nassau Educators CU, Sperry CU, Teachers FCU all have 5-yr. CD rates which are about the same (or higher, in the 2.30% range) than this one. Why do you consider this one so great?
Anonymous - #2, Friday, October 28, 2011 - 2:53 PM
2.25% for 5 yrs is also fairly common around here with most CU's at that lvl.or slightly above. Have also seen some 2.5%'s but less common.
KenBDG - #3, Friday, October 28, 2011 - 3:48 PM
Unfortuantely, there aren't as many competitive CD rates in South Florida.
Gail W. (anonymous) - #4, Friday, October 28, 2011 - 4:38 PM
Oh, so you are featuring this CU because they are also in Fla.? If so then it makes sense. Because in NY or other areas, that 2.24% 5 yr. CD rate doens't seem that amazing.
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