Geddes Federal S&L Adds Rate-Leading 30-Month CD Special


Deal Summary: 30-month CD Special, 5.13% APY, $500 minimum deposit.

Availability: Market area is within 150 miles of Syracuse, New York.

Geddes Federal Savings and Loan Association (Geddes Federal) is currently offering four CD Specials, but only the 30-month (5.13% APY) has a competitive rate. The minimum opening deposit is $500, and the maximum is $1 million.

According to CSR, the 30-month CD Special is subject to two different Early Withdrawal Penalties (EWP), based on when a withdrawal (partial or complete) occurs.

  • If a withdrawal is made within the first 365 days of account opening, the EWP is 180 days interest on the amount withdrawn.
  • If a withdrawal is made after the first 365 days of account opening, the EWP is 90 days interest on the amount withdrawn.

Availability and Account Opening

Headquartered in Syracuse, New York, Geddes Federal Savings and Loan Association offers deposit accounts to “consumers residing or businesses that are located within 150 miles of our Syracuse location” – an area that stretches from Buffalo to Albany.

Opening a CD Special can be done online or in person at either of the two New York branches, located in Syracuse (Westvale Plaza) and Manlius (Limestone Commons Plaza). Appointments are available and can be scheduled online.

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – ACH, wire, cashier’s check, cash, internal transfer.
  • Ownership – Individual, joint, or trust.
  • Interest – Compounded daily/credited quarterly; interest can be withdrawn penalty-free.
  • Maturing Funds – Cashier’s check or internal transfer.
  • Grace Period – 7 calendar days before automatic renewal.
  • Beneficiaries – Unlimited, with equal shares. Social Security numbers preferred, but not required.
  • Credit Check – Hard pull and ChexSystems.

Bank Overview

Geddes Federal Savings and Loan Association has an overall health grade of "A" at, with a Texas Ratio of 1.86% (excellent) based on March 31, 2023 data. Geddes Federal has an excellent capitalization level (16.35%), the result of holding $609.4 million in assets with $99.66 million in equity. Please refer to our financial overview of Geddes Federal Savings and Loan Association (FDIC Certificate # 30397) for more details.

Originally established in 1948, the locally-owned and managed Geddes Federal Savings and Loan Association is currently the 69th largest bank headquartered in New York State, with deposits in excess of $435 million and more than 11,500 customer accounts.

Savings and loan associations were originally insured by the Federal Savings and Loan Insurance Corporation (FSLIC), which was administrated by the Federal Home Loan Bank Board. Following soaring interest rates in the late ‘70s and early ‘80s, hundreds of S&Ls failed, forcing the FSLIC into insolvency. Attempts to recapitalize the FSLIC with taxpayer money ($15 billion,1986; $10.75 billion,1987) were futile and the FSLIC was abolished under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). Responsibility for savings and loan deposit insurance was transferred to the Federal Deposit Insurance Corporation (FDIC) in late 1989.

How the 30-Month CD Special Compares

When compared to similar length-of-term CDs tracked by which are available within the market area and have minimum deposit requirements of $10k or less, no bank or credit union has a higher rate than currently offered on the Geddes Federal Savings and Loan Association 30-Month CD Special. The following table compares the 30-Month CD Special to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.

The above information and rates are accurate as of 6/27/2023.

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

Related Pages: Syracuse CD rates, 5-year CD rates

Geddes Federal S&L (NY) Adds 63-Month CD
Deal Summary: 63-month CD, 3.00% APY, $500 minimum deposit

Availability: Market area is within 150 miles of Syracuse, New York.

As of this writing, there are 19 banks/credit unions offering 5-year CDs with APYs of 3.00% and above. One of the newest members of the ”3 for 5 Club” is Geddes Federal Savings and Loan Association (Geddes Federal), which added a 63-month CD (3.00% APY) last week. Part of the “Grow Your Gold at Geddes Federal” CD promotions, the 63-month requires a minimum deposit of $500, with...

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Top Rates for CDs, IRAs and Money Market Account at Geddes Federal Savings in NY - Local Only

Geddes Federal Savings and Loan Association is offering some competitive CDs and IRA CDs. The best regular CD has a 2.25% APY for a 25-month term. Other competitive ones include a 2.15% APY 20-month CD and a 1.70% APY 13-month CD. Rates are much higher for IRA CDs. All terms from 12 months to 60 months have rates that are 50 basis points higher than the regular CD rates. These include a 2.20% APY for 13 months and 2.75% APY for 25 months. Minimum deposit is $500.

Another noteworthy deposit account...

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.