Competitive CD Rates at Empower Federal Credit Union in New York

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APYMINMAXINSTITUTIONPRODUCTDETAILS
1.85*%$100k-Empower Federal Credit Union5 Year Share Certificate
1.85*%$100k-Empower Federal Credit Union10 Year Share Certificate
1.70*%$100k-Empower Federal Credit Union4 Year Share Certificate
1.40*%$100k-Empower Federal Credit Union3 Year Share Certificate
Accounts mentioned in this post. Rates as of December 10, 2016.

Empower Credit Union is one of the few credit unions still offering 2% CDs and IRA CDs. However, you will need a large balance. The top rate is 2.05% APY for 5-, 7- and 10-year terms. This has a $100,000 minimum deposit. The rate is 2.00% APY for a $50,000 minimum. There are 5 lower tiers with yields that range from 1.95% to 1.75%. The 3-year and 4-year CDs are also fairly competitive, but the short-term CD rates are low. These rates are listed in the credit union's deposit rates page as of 8/20/2012.

The CD details are listed in the credit union's disclosure, "Truth In Savings: Share Certificates". This is available in the credit union's disclosure page. According to this disclosure, the early withdrawal penalty for terms over 1 year is 180 days of dividends. One EWP exception that's listed is "where the account is an IRA or Keogh and the owner attains age 59½".

Membership

Empower FCU has a long list of employers and associations. However, I don't see any easy-to-join association that can qualify anyone for credit union membership. You can also qualify for membership if you live, work, worship, or attend school in one of several areas in New York State. Some of these include the City of Buffalo, City of Binghamton, City of Syracuse, City of Utica and Oswego County. Please refer to the credit union's membership page for more details. Membership requires a minimum $25 in the share savings account.

Credit Union Overview

Empower FCU is a sizable credit union with many branches located throughout New York State.

The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 6.74% (excellent) based on March 2012 data. Please refer to our financial overview of Empower FCU for more details. The credit union is federally insured by the NCUA (Charter # 3025).

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:

Comments
6.14% 36-Month / 5.67% 18-Month CD at a New York CU (Telco)
Telco FCU is offering some high certificate rates including a 6.14% APY 36-month CD, a 5.77% APY 24-month CD and a 5.67% APY 18-month CD. These require a minimum deposit of $10,000. Certificates with a $1K minimum are available with lower rates.

Field of membership seems limited to select employer groups and immediate family of members. See site for the full details. Membership requires a minimum deposit of $5 into the share savings account.

Branches are located in Elmira, New York. The credit union is federally insured by the NCUA (Charter #...



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6.00% 6-Month CD Continues at Empower FCU in New York
Empower FCU continues to offer a 6.00% APY 6-month share certificate. It's scheduled to end on May 31st. I thought this was worth reminding folks before it's too late. I first reported on this in mid April. The minimum deposit is $500. It's available for both regular and IRA share certificates.

A reader mentioned being able to get 6.25% APY. There is a 0.25% CD rate bump provided for G-Smart members.

Field of membership includes those who live, work, worship or attend school in several New York cities including Buffalo, Fulton,...



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6.00% 6-Month CD at a New York CU (Empower)
Empower FCU is offering a 6.00% APY 6-month share certificate. The minimum deposit is $500. It's available for both regular and IRA share certificates. According to the front page, the certificate special runs through May 31st.

Field of membership includes those who live, work, worship or attend school in several New York cities including Buffalo, Fulton, Syracuse and Utica. See site for complete list. You can also be eligible to join via a company or an association. There are many societies and associations listed including the American Cancer Society and the...

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