CD Rate Specials in Miami and NYC at People's Alliance FCU
People's Alliance Federal Credit Union is offering two certificate specials with competitive rates. The best one is its 28-month CD. It has a 1.35% APY. The other one is a 15-month CD with a 1.00% APY. Minimum deposit is $500, and new money is required. These rates are listed at the credit union's rates page as of 3/25/2014.
The credit union used to offer very competitive standard CD rates. That has changed, and now you can get higher rates at many internet banks.
People's Alliance continues to offer other nice perks like a free checking account with no minimum balance requirement and with no monthly maintenance fee. It also belongs to ATM networks which give members surcharge-free access to ATMs nationwide.
Membership
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.
Credit Union Overview
People's Alliance Federal Credit Union branches are located in the New York cities of Jamaica, Brooklyn, Bronxville, Hauppauge, Ronkonkoma, Westbury and Yonkers and, and in Miami, Florida.
The credit union used to be Pan American World Airways Credit Union. Pan American World Airways, commonly known as Pan Am, used to have its headquarters in New York City and Miami. That explains why the credit union has branches in those two cities. Pan Am went bankrupt in 1991.
The credit union has an overall health grade at DepositAccounts.com of a B+ with a Texas Ratio of 8.41% (excellent) based on December 2013 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
These two CD specials have competitive rates, but they’re not the best rates as compared to some nationally available CDs. There are no nationally available 28-month CDs, but the best 24-month CD rate that’s nationally available is 1.40% APY at Northrop Grumman Federal Credit Union. This requires a $40K minimum deposit. The best rate at an internet bank is 1.20% APY at Bank5 Connect and CIT Bank. The Bank5 Connect CD allows add-on deposits. CIT Bank’s CD is called the Achiever CD and it allows an add-on deposit and a rate bump. Minimum deposit is $25K.
The best 15-month CD rate that’s nationally available is 1.15% APY at GE Capital Retail Bank. Xceed Financial Credit Union has a special 17-month CD with a 1.50% APY. Xceed Financial is an all-access credit union that makes it easy to join via an association.
The above rates are accurate as of 3/25/2014.
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.
