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 is the money market account which has a 2.00% APY on balances of at least $50K. If you don't plan to put $50K into this account, it wouldn't be a good deal since it only pays 1.00% APY for balances from $1K to under $50K.

The above rates are listed in the bank's deposit rates page as of 3/29/2010.

On the bottom left side of the deposit rates page, it states:

Deposit accounts are only opened for consumers residing or businesses that are located within 150 miles of our Syracuse, New York location.

This seems a little too far for those in New York City, but it may include those in Albany.

The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1949 (FDIC Certificate # 30397).