Island Federal Credit Union continues to offer some competitive CD and IRA CD rates. The best one is a special 18-month certificate which has 1.26% APY. The standard CDs with terms over 1 year also have competitive rates. Minimum deposit is $1,000. These are listed at the credit union's rates page as of 4/18/2012 and are shown below:
- 2.07% APY 5-year CD
- 1.87% APY 4-year CD
- 1.70% APY 3-year CD
- 1.31% APY 2-year CD
- 1.26% APY 18-month special CD
Membership is open to those who live, work, worship or attend school in Suffolk County or Nassau County (with the exception of the townships of East Hampton, Southampton or Shelter Island). Please refer to the credit union's Who We Are page for more details. Membership requires a minimum balance of $5 the regular savings account.
Island Federal Credit Union branches are located in Bellmore, Sayville, Selden, Hauppauge and Hicksville, New York.
Island FCU has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 2.50% (excellent) based on December 2011 data. Please refer to our financial overview of Island Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 10023).
How These CD Rates Compare
The highest 18-month CD rate that's nationally available is 1.20% APY at KeySource Commercial Bank. For longer-term CDs, Melrose Credit Union mostly has the highest CD rates. These include a 1.36% APY 2-year CD, a 1.86% APY 3-year CD, 2.07% APY 4-year CD and a 2.27% APY 5-year CD. These rate are accurate as of 4/18/2012.
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: