Hudson Valley FCU Offers New York State's Top-Rate 2-Year CD

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Update 7/14/15: EXPIRED - This 2-year 2% certificate is no longer available.

Availability:

Residents of New York State counties of Dutchess, Orange, Putnam, and Ulster.

This week, Hudson Valley Federal Credit Union (Hudson Valley FCU) added a limited time 2-Year Certificate Account (2.00% APY) to its product line. The minimum opening deposit is $500, with no balance cap.

The 2-Year Certificate Account (CD) is also being offered as an IRA (Traditional, Roth and CESA) at the same APY, with the same funding requirements.

While Hudson Valley FCU does offer higher APYs on some CDs with larger balances, this feature does not apply to the 2-Year CD.

As stated on Hudson Valley FCU’s Disclosure and Account Agreement page, the Early Withdrawal Penalty reads as follows:

Original Certificate Account Term 24-35 Months: 90 days of accrued dividends OR All accrued dividends since the date of issuance or renewal not to be less than 7 days’ dividends on a new account.

Thank you to DA member, zz, who posted this deal in the Forum.

Availability

Hudson Valley Federal Credit Union is a community chartered credit union, with membership available to individuals who live, work, worship, volunteer or attend school in the New York State counties of Dutchess, Orange, Putnam, and Ulster. Membership is also extended to current Hudson Valley FCU members’ immediate family or household members.

Joining Hudson Valley FCU can be done online, or by visiting of any of 20 branches located in Beacon, Brewster, Carmel, Fishkill, Highland, Hopewell Junction (2), Hyde Park, Lake Katrine, Middletown, Montgomery, New Windsor, Newburgh, Pleasant Valley, Poughkeepsie (4), Rhinebeck, and Wappingers Falls.

As detailed on Hudson Valley FCU’s website, the 2-Year CD can be opened in a variety of ways:

  • Stop into any of our branches.
  • Call our Contact Center at 845.463.3011 / 800.468.3011 to open a certificate account by making a transfer from another HVFCU account.
  • Open a regular certificate account online through Internet Banking (IRA, jumbo, and business certificates cannot be opened online). Once signed in, select "Additional Services" and then "Open an Account or Certificate".

Credit Union Overview

Hudson Valley Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 5.28% (excellent) based on December 31, 2014 data. In the past year, Hudson Valley FCU has increased its total deposits by $182.08 Million, an excellent annual growth rate of 5.35%. Please refer to our financial overview of Hudson Valley Federal Credit Union for more details.

Hudson Valley Federal Credit Union’s (NCUA Charter # 15802) history is a classic chronicle of credit unions in America. Established in October 1963 as the IBM Poughkeepsie Employees Federal Credit Union, the credit union had 14 member accounts and $172 in assets by the end of the first year. For the first 30 years, the credit union grew, but its membership was limited to IBM employees. In 1994, the name was changed to Hudson Valley Federal Credit Union to better reflect its SEG-based status. A community charter was adopted in 2003, extending membership to residents of four New York State counties. Today, Hudson Valley Federal Credit Union has over 292,000 members and assets in excess of $4 Billion.

How the CD Compares

When compared to other similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to New York state residents, Hudson Valley Federal Credit Union’s 2-year CD clearly is the front-runner.

The above rates are accurate as of 4/8/2015.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

Comments
Hudson Valley FCU's "Gift The Keeps Giving": A Competitive 140-day CD

Update 12/26/14:

The 140-day CD special has expired.

Availability:

Residents of New York State counties of Dutchess, Orange, Putnam, and Ulster.

Hudson Valley Federal Credit Union (Hudson Valley FCU) has a holiday CD Special: a 140-day Certificate Account (1.40% APY). The minimum opening deposit is $500 and there is no maximum balance cap. The fine print on Hudson Valley FCU’s website reads, "Substantial penalty for early withdrawal," and, according to CSR, the Early Withdrawal Penalty is 30 days interest.

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