PathFinder Bank (NY) Ups High Yield MMA, 1 Year Guarantee

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Availability: High Yield Money Market Promo, 1.60% APY guaranteed for 12 months following account opening, $10k min/$1m max deposit, new money required for opening deposit.

Availability: Market area includes 14 central New York counties.

In October, PathFinder Bank added a High Yield Money Market Promo (1.40% APY), with a twelve-month rate guarantee. Yesterday, that rate was raised to 1.60% APY and is “guaranteed for 12 months from account opening.” The minimum initial deposit is $10k of new money, with a maximum eligible balance of $1 million.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.60%$10k$1mPathFinder BankHigh Yield Money Market Promo
Rates as of November 12, 2018.

The High Yield Money Market account has check writing abilities, which are included in the standard six pre-authorized transfers per month. There is a $10 monthly service charge if “the balance falls below $10,000 any day during the month.” If the account is closed within six months of opening, there is a $25 closeout fee.

There is quite a discrepancy between the current rates for the High Yield Money Market and PathFinder’s Money Market Deposit account (five tiers ranging from 0.05% to 0.25% APY). While it is possible the High Yield Money Market may continue to raise its rates, it’s also possible that following the one-year rate guarantee the account may revert to the lower rate structure. Caveat emptor.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.25*%$75k-PathFinder BankMoney Market Deposit
OTHER TIERS: 0.05% $2.5k - $10k | 0.10% $10k - $25k | 0.15% $25k - $50k | 0.20% $50k - $75k
Rates as of November 12, 2018.

27-month CD Special

PathFinder Bank is also offering a limited-time 27-month CD Special (2.00% APY). The minimum deposit is $1k of new money, with no stated balance cap. The Early Withdrawal Penalty is a loss of six months’ interest.

Availability

Headquartered in Oswego in Central New York, PathFinder Bank's market area now includes the New York counties of Broome, Cayuga, Chenango, Cortland, Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, Oswego, St. Lawrence, Tioga, and Tompkins.

The High Yield Money Market Promo can be opened online, or at any of eight full-service New York branches, located in Central Square, Cicero, Fulton, Lacona, Mexico, Oswego (2), and Syracuse.

Bank Overview

PathFinder Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 6.87% (excellent), based on September 30, 2017 data. In the past year, PathFinder Bank has increased its total non-brokered deposits by $89.5 million, an excellent annual growth rate of 17.95%. Please refer to our financial overview of PathFinder Bank (FDIC Certificate # 57497) for more details.

While the Bank has been using the PathFinder name for 18 years, the Bank’s history began in 1859, when the Oswego City Savings Bank was incorporated. In 1995, Oswego City Savings Bank became a stock held institution (initial public offering of $7.50) and formed Pathfinder Bancorp Inc. as a mutual holding company. The Bank’s name was officially changed to PathFinder Bank in 2000.

In March 2016, New York State’s Department of Financial Services Weekly Banking Bulletin announced,

Approval given in principle to the restated Organization Certificate of Pathfinder Bank, providing for the expansion of powers to those of a full service bank with trust powers.
(The restated Organization Certificate is in conjunction with the proposed merger of Pathfinder Bank with and into Pathfinder Commercial Bank under the name, Pathfinder Bank.)

The acquisition/merger was finalized in May 2016. PathFinder Bank is now New York’s 55th largest bank, with assets in excess of $873 million.

How the High Yield Money Market Promo Compares

When compared to the 209 Money Market Accounts tracked by DepositAccounts.com that are available in the Bank’s market area, PathFinder Bank’s High Yield Money Market Promo APY currently ranks third.

The above rates are accurate as of 2/17/2018.

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

Related Pages: Syracuse money market accounts, money market accounts

Comments
PathFinder Bank (NY) Guarantees Money Market Rate For A Year
Availability: High Yield Money Market Promo, 1.40% APY guaranteed for 12 months following account opening, $10k min/$1m max deposit, new money required .

Availability: Market area includes 14 central New York counties.

PathFinder Bank is featuring its High Yield Money Market Promo (1.40% APY). This limited-time offer guarantees the 1.40% APY for twelve months from account opening. The minimum initial deposit is $10k of new money, with a maximum eligible balance of $1 million.

The High Yield Money Market account has check writing abilities, which are...

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PathFinder Bank (NY) Adds 17-Month Fall CD Special
Availability: 17-month Fall CD Special, 1.80% APY, $1k minimum deposit, new money required.

Availability: Market area includes 14 central New York counties.

PathFinder Bank has added a limited-time 17-month Fall CD Special (1.80% APY) to help “Harvest Your Savings.” The minimum deposit is $1k of new money, with no stated balance cap.

Just four months ago, PathFinder Bank was offering an 18-month CD Special that earned 1.65% APY. At the time, the 18-month CD Special’s APY was the second highest available in the Bank’s market area; today, that...

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PathFinder Bank (NY) Promotes 18-Month CD Special
Availability: 18-month CD Special, 1.65% APY, $1k minimum deposit, new money required.

Availability: Market area includes Onondaga and Oswego Counties, New York.

Earlier this month, PathFinder Bank added an 18-month CD Special (1.65% APY). The minimum deposit is $1k of new money, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty for the 18-month CD Special is six months interest. CSR also stated that partial withdrawals are not permitted and a withdrawal will result in the closure of the CD.

Availability

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4.40% 13-Month / 4.15% 5-Month CD at Pathfinder Bank in New York
Update 12/06/08: These special CD rates have fallen. Please check the bank's website for the latest rates.

Pathfinder Bank is offering two very competitive CD specials as of 11/25/08: 4.40% APY 13-month and 4.15% APY 5-month. Minimum deposit is $2,500.

It appears a branch visit is required to open accounts. Branches are located northwest of Syracuse in the cities of Central Square, Fulton, Lacona, Mexico and Oswego.

The bank has solid financial ratings for soundness: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 6/30/08 data....





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