SECNY Federal Credit Union has some very competitive CD and IRA CD rates on its 4-year and 5-year terms. The best rates require either an IRA CD or a Jumbo CD with a $50K minimum deposit. These include a 2.30% APY for 5 years and 2.10% APY for 4 years. For a regular CD with a $1,000 minimum the APYs are 2.10% for 5 years and 2.00% for 4 years. The rates for shorter terms are not nearly as competitive. These rates are listed in the credit union's savings rates page as of 10/11/2012.
Direct Deposit Bonus
The credit union is also having a $50 cash incentive offer. Members who had no prior direct deposit relationship with SECNY can get $50 for establishing net pay direct deposit in their SECNY checking accounts by 10/31/2012. There's a $25 bonus for having direct deposit into the savings account. More details are listed in this credit union's promo page.
It's not a big bonus, but if you open a CD there, this bonus may be worthwhile.
According to the credit union, its name "SECNY" stands for Serving Everyone in Central New York. Membership is open to any person working, living, worshiping, attending school in Onondaga, Cayuga, Madison and Oswego counties. Please refer to the credit union's member benefits page for more details.
Credit Union Overview
SECNY FCU branches are located in the Central New York cities of Syracuse, North Syracuse, Baldwinsville, Manlius and Skaneateles.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 1.34% (excellent) based on June 2012 data. Please refer to our financial overview of SECNY Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 20496)
How These CD Rates Compare
The highest 5-year CD rate that's available nationwide is 2.00% APY at several all-access credit unions. The highest 5-year CD that's nationally available at a bank is 1.86% APY at State Bank of India NY. CIT Bank is close behind with a 1.85% APY. These rates are accurate as of 10/11/2012.
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: