Chemung Canal Trust Company (NY) Has 48-Month CD Special


Deal Summary: 48-month CD Special, 3.03% APY, $10k min/$1m max, new money.

Availability: Market area includes 12 New York counties and one Pennsylvania county.

Chemung Canal Trust Company recently added three CD Specials: 48-month (3.03% APY), 24-month (2.01% APY), and 11-month (1.76% APY). The 48-month is clearly the most competitive. The minimum opening deposit is $10k of new money and “account balance may not exceed $1,000,000 with the exception of future interest payments.” There is a limit of one CD Special (not one of each term length) per primary account holder.

According to CSR, the Early Withdrawal Penalty is “six months interest or $70, whichever is greater."


Headquartered in Elmira in the southern tier of New York State, Chemung Canal Trust Company’s market area includes 12 New York counties and one Pennsylvania county.

The 48-month CD Special can be opened by phone (800.836.3711) or with an in-person visit at any of 27 New York branches located in the counties of Broome, Cayuga, Chemung, Cortland, Schuyler, Seneca, Tioga, and Tompkins, or the three Bradford County, Pennsylvania branches. The 48-month CD Special is also offered at the five branches operating under the Capital Bank brand, located in Albany, Saratoga, and Schenectady Counties, New York.

Bank Overview

Chemung Canal Trust Company has an overall health grade of "B" at DepositAccounts, with a Texas Ratio of 11.64% (above average) based on March 31, 2018 data. In the past year, Chemung Canal has increased its total non-brokered deposits by $11.06 million, an above average annual growth rate of 0.86%. Please refer to our financial overview of Chemung Canal Trust Company (FDIC Certificate # 597) for more details.

Established in 1833, Chemung Canal Trust Company is currently the 38th largest bank headquartered in New York, with assets in excess of $1.7 billion.

When the doors first opened, Andrew Jackson was President of the United States, which consisted of only 24 states, veterans of the American Revolution were still living, and the City of Chicago was established by 350 settlers.

Chemung Canal Trust Company has a unique history: it’s been both a public corporation and a privately-owned family bank. The Bank originally issued stock and was publicly owned until 1857, when the Arnot family gained control. For the next 46 years, the Bank was a private family bank and returned to public ownership in 1903.

How the CD Special Compares

When compared to the 196 similar length of term CDs tracked by that are require a minimum deposit of $10k or less and available in the Bank’s market area, Chemung Canal Trust Company’s 48-month CD Special APY currently ranks fourth.

The above rates are accurate as of 7/25/2018.

To find the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Binghamton CD rates, Albany CD rates, Syracuse CD rates, Elmira CD rates, Wilkes Barre CD rates, 5-year CD rates


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