SJP Federal Credit Union

If you don't meet residency requirements, you can become a member of this credit union by joining Healthy Buffalo for $10.00 (+.68 processing fee). The application and account opening process was easy and straightforward, and CSR Sarah was very knowledgeable. I learned that NY state law requires you to name a beneficiary on a CD, which could be a problem for some people. The following details are from SJP's website: " The minimum dollar amount required to open a Certificate of Deposit is $500. There is no minimum dollar amount to earn the APY on Certificate of Deposits. The APY is paid on the entire balance. Fees could reduce the earnings on the account. An early withdrawal penalty will be imposed on early withdrawals. The early withdrawal penalty is equal to half the days interest to maturity earned on the respective term. Dividends are paid monthly on IRAs and Money Market accounts. Dividends are paid at maturity on Certificate of Deposits."