CFCU Community CU (NY) Adds 2.20% APY 36-Month CD Special


Deal Summary: 36-month Thanks A Billion Certificate Special, 2.20% APY, $100k; 1.85% APY, $25k; 1.60% APY, $10k; 1.25% APY, $500.

Availability: Residents of Tompkins and Cortland Counties, New York.

CFCU Community Credit Union’s (CFCU) recently reached a major milestone: becoming a billion dollar financial institution. To celebrate, CFCU is offering a limited-time 36-month Thanks a Billion (TAB) Certificate Special with tiered APYs, based on deposit levels.

As stated on the promotion page,

Combined balance may not exceed $250,000.00 per member.

CSR explained that this simply means that any one member cannot have more than $250k deposited in one or more TAB Certificate Specials. For example, if you have $100k to open a TAB Certificate Special today, you would be able to deposit an additional $150k in other TAB Certificate Specials in the future, as longer as the offer is available.

When I wrote about CFCU a few months ago, the wording in the fine print about the APY was a concern when I saw the words, “variable rate.”

Compounded Monthly. The APY is a variable rate and may change after the account is opened.

CSR reassured me (again) with this explanation - if the interest, which is compounded monthly, is withdrawn or transferred to another account, the APY may be lower than what is stated.

As stated in the FAQs page, the Early Withdrawal Penalty reads as follows:

For 18 months term or more: all interest earned to date or 180 days, whichever is less.

Thanks to DA reader (and one of CFCU’s newer members), ChasR, for his Forum post about this deal.


Headquartered in Ithaca, CFCU Community Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, or attend school in Tompkins or Cortland Counties eligible to join. CFCU’s FOM is about to be expanded to include the Finger Lake Counties of Cayuga, Ontario, and Seneca.

Membership is also offered to any eligible person’s “spouse, and their lineal ancestors and descendants, including persons related by adoption.” In other words, if you are eligible for membership, but not necessarily a member, your brother in Pennsylvania is also eligible for membership.

Complete details (including an illustrative membership family tree if you’re not sure who your lineal relatives might be) are available on CFCU's Join Today page.

Joining CFCU can be done online, or at any of eleven New York branches located in Cortland (2) and Ithaca (9).

The TAB Certificate Special is currently not listed on the online application; CSR stated that it can be opened on the phone, as well as in-branch.

CFCU is a member of Allpoint ATM Network that provides free access to over 43,000 nationwide ATMs.

Credit Union Overview

CFCU Community Credit Union (NCUA Charter # 68322) has an overall health grade of "A" at, with a Texas ratio of 5.41% (excellent) based on September 30, 2016 data. In the past year, CFCU has increased its total deposits by $55.47 million, an excellent annual growth rate of 6.71%. Please refer to our financial overview of CFCU Community Credit Union for more details.

In 1953, the Cornell Federal Credit Union first opened its doors to the employees of Cornell University. The original charter remained in effect for almost 45 years, at which time a state charter was adopted and the Credit Union became Cornell Finger Lakes Credit Union. In 2003, a community charter was put in place and the name changed to CFCU Community Credit Union. CFCU is currently the 20th largest credit union in New York, with more than 68,300 members and assets in excess of $1 billion.

How the Thanks a Billion Certificate Compares

When compared to the similar length-of-term CDs tracked by that are available to residents in Central New York State, CFCU Community Credit Union's 36-month Thanks A Billion Certificate APYs currently rank in the top 5%, regardless of minimum deposits.

The above rates are accurate as of 2/2/2017.

To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates table, or our new Rates Map page.

Anon E. Moose
  |     |   Comment #1
That is a very attractive interest rate taking into consideration the shorter three year maturity. Tempting.
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