New York Banking Rates and News

There are a few credit unions around the nation that offer top CD rates. Unfortunately, most of these credit unions have narrow fields of membership, and that's the case with Sea Comm Federal Credit Union. The credit union continues to offer very competitive rates for its share and IRA certificates. The best deals are its long-term and mid-term certificates which include a 2.49% APY 5-year CD and a 2.02% APY 3-year CD. Other top rates include a 2.25% APY 4-year CD and a 1.43% APY 2-year CD. Minimum deposit is $1,000. These rates are listed at the

Citizens Bank has a new-account promotion in which you can earn up to $225. To get the full $225 requires opening a new personal checking account and a money market account or CD. It's important to note that both the checking and money market accounts have potential monthly fees. So keep that in mind when considering the bonus.

To qualify for the promotion, complete the form at this Citizens Bank promotions page to get a coupon that you can print and take to your local branch. Accounts must be opened by 6/2/2012 to qualify for the bonuses.

For...

Webster Bank is offering four checking account bonuses with values that range from $50 to $100. The amount of the bonus depends on the checking account that is opened. As you might expect, the higher the bonus, the harder it is to avoid the monthly fees. Webster Bank used to have the Totally Free Checking account, but this changed to the Value Checking which has potential monthly fees.

Here's the checking promotion page. The offer is scheduled to end on 6/22/2012.

To qualify for the bonus, the customer must complete one of the following by 7/20/2012:

• 1 direct deposit,...

A reader just informed me of these CD specials at Valley National Bank. The rates are very competitive, but there's a catch. The two specials are a 2.30% APY 5-year CD and a 1.60% APY 30-month CD. Minimum deposit is $5,000, and the maximum deposit is $100,000. The specials are listed in the bank's promotions page as of 5/11/2012.

The catch is that these CD specials require an active checking account. The details are described in the offer's small print. Below is an excerpt of the important details:

To qualify for promotional CD rates, a Perfect Promo Checking...

Last week I started writing updated reviews of some of the mature reward checking accounts that are still nationally available. In this updated review, I'm taking another look at North Country Savings Bank and its reward checking account that it calls Advantage Checking. I first reported on this account in 2009 when the yield was 3.00% for balances up to $50K. As you might have guessed, the rate has fallen. However, the balance cap remains at $50K (at least as of today). It's the only nationally available reward checking that still has a $50K balance cap. Most have...

It has been a while since I reported on First Republic Bank. Its CD rates have finally changed for the better to make it noteworthy. The bank now has a few competitive CD rates. The two best ones are a 1.30% APY 2-year CD and a 1.20% APY 18-month CD. Minimum deposit is $5,000. Below is the list of all of the competitive CD rates as listed at the bank's rates page as of 5/2/2012:

• 1.75% APY 6-year CD
• 1.60% APY 5-year CD
• 1.50% APY 4-year CD
• 1.40% APY 3-year CD
• 1.30% APY 2-year CD
• 1.20% APY 18-month CD
• 1.00% APY 1-year CD

Rates...

We have seen many rate leaders cut their CD rates this month. The latest one is Melrose Credit Union which recently reduced its long-term CD rates by 10 basis points. The 1-year and 2-year CD rates did not change. This is only the second time this year that Melrose Credit Union has cut its CD rates. The last one on February 1st was much worse when the 5-year CD yield fell 41 basis points. Below is a summary of the new rates as listed at Melrose Credit Union's share rates page as of 4/27/2012. I also...

Island Federal Credit Union continues to offer some competitive CD and IRA CD rates. The best one is a special 18-month certificate which has 1.26% APY. The standard CDs with terms over 1 year also have competitive rates. Minimum deposit is $1,000. These are listed at the credit union's rates page as of 4/18/2012 and are shown below:

• 2.07% APY 5-year CD
• 1.87% APY 4-year CD
• 1.70% APY 3-year CD
• 1.31% APY 2-year CD
• 1.26% APY 18-month special CD

Membership is open to those who live, work, worship or attend school in Suffolk County or Nassau County (with the exception of...

McGraw-Hill Federal Credit Union is again offering a top CD rate. Hopefully, it will last longer than the last time it was offering a top rate in October. This new top rate is 1.50% APY for a 15-month share certificate. Minimum deposit is $1,000. The credit union also has a competitive 5-year CD with a 2.25% APY. This has a $10,000 minimum deposit. CDs are also available in IRAs. These rates are listed in the credit union's deposit rates page as of 4/6/2012.

With help from readers, we learned in October that the early withdrawal penalty...

Countryside Federal Credit Union is again offering a special March Madness CD special. If you pick the right final four teams, you can get a 2.00% APY 1-year CD. If you don't get any picks right, you'll still receive a competitive base rate of 1.00% APY. Minimum deposit is $5,000. The special is listed on the credit union's promotion page. You have to pick the four teams that you think will make it to the Final Four of the NCAA basketball tournament. You also pick the final two and the national champion. The brackets must be...

Flushing Bank is again offering a $150 checking account bonus for opening one of its checking accounts. Both its Totally Free Checking and its BestRate Checking qualify. The requirements to qualify for the bonus include:

• $75 for 5 debit card transactions of $25 or more, AND
• $75 for 5 bill pays online of $25 or more OR for recurring Direct Deposit of $250

Here's the link to the promotions page that was on Flushing Bank's website on 3/7/2012. I don't see an expiration date. Below is a copy of the offer's small print:

New checking account with new money only....

It has been over a year since my last post of Justice Federal Credit Union. Over the years I have done several posts on this credit union due to its competitive rates and a field of membership that allows many people to qualify. Even though many may be able to qualify for JFCU membership, it doesn't mean it's easy as a reader described in this review. Because of this problem, I haven't mentioned this credit union for the last year. However, it continues to offer some top CD rates. Also, several readers have been able to join. Thus,...