Sunmark FCU (NY) Has New, Competitive 18-Month CD

POSTED ON BY

Availability: Residents of Albany, Montgomery, Rensselaer, Saratoga, Schenectady, and Schoharie Counties, New York

Sunmark Federal Credit Union (Sunmark) raised the rate on its 18-month Regular Share Certificate (1.50% APY) yesterday. The minimum deposit is $150K, with no balance cap. Unlike Sunmark’s other Certificates, no additional deposits are permitted.

This is a new product (added in early October), and yesterday’s 25 basis point increase was the first rate change.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.50%$150k-Sunmark Federal Credit Union18 Month CD
1.50%$150k-Sunmark Federal Credit Union18 Month IRA
Accounts mentioned in this post. Rates as of August 27, 2016.

The 18-month Regular Share Certificate is also available as an IRA (Traditional), earning the same APY with the same funding requirements.

As stated on Sunmark’s Truth In Savings document, the Early Withdrawal Penalty reads as follows:

If you withdraw any principal, including any credited dividends, before the maturity date on a term share account with a term greater than one year, you will be penalized six months’ dividends.

Availability

Headquartered in Latham, Sunmark Federal Credit Union offers membership to individuals who live, work, worship, attend school, own a business, or volunteer in the following New York (Capital Region) counties of Albany, Montgomery, Rensselaer, Saratoga, Schenectady, and Schoharie.

In addition, there are hundreds of companies and organizations listed as membership eligible Community Business Partners. Complete details can be found on Sunmark’s Membership page.

Joining Sunmark and/or a CD can be done online, or at any of nine New York branches located in Albany, Ballston Spa, Colonie, Glenville, Halfmoon, Latham, Schenectady (2), and Watervliet.

Sunmark is a member of the CO-OP Shared Branch network, which gives members access to over 5,000 nationwide credit union branches and over 2,000 self-service locations.

Credit Union Overview

Sunmark Federal Credit Union (NCUA Certificate #1884) has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 14.76% (above average) based on September 30, 2015 data. In the past year, Sunmark FCU has increased its total deposits by $33.31 Million, an excellent annual growth rate of 8.57% APY. Please refer to our financial overview of Sunmark Federal Credit Union for more details.

Sunmark Federal Credit Union was established in 1937 as the Schenectady General Electric Turbine Department's Federal Credit Union. In 1983, the name was shortened to Turbine Federal Credit Union and soon after, two additional branch offices were opened in Glenville. The most significant growth happened in 2002, following a name change to Sunmark, with membership opened to all residents of the Capital Region. Today Sunmark Federal Credit Union has assets in excess of $473 Million and more than 48,800 members.

How the CD Compares

When compared to the 256 CDs tracked by DepositAccounts.com that are available to New York residents, Sunmark Federal Credit Union's 18-month CD APY currently ranks second, regardless of minimum deposit.

The above rates are accurate as of 12/23/2015.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Comments
Sunmark Federal Credit Union's New 17-Month CD With Competitive Rate

UPDATE 11/7/2014: The rate is now 1.00% APY.

Three weeks ago, Sunmark Federal Credit Union (SFCU) added a new CD to their offerings: a 17-month CD (1.25% APY). It is also available as an IRA with the same 1.25% APY. This 17-month CD can be opened with a $500 minimum deposit, but unlike all the other CDs offered by SFCU, no additional deposits are permitted.

The Early Withdrawal Penalty, as stated in SFCU's Terms and Disclosures, is substantial:

Availability

Membership in Sunmark Federal Credit Union...

Continue Reading
5.50% No-Minimum Online Savings Account at a New York CU (RateEdge)
Update 7/01/09: Yield is now 0.20% APY. See bottom of post for the rate history.

RateEdge just increased the rate on its online savings account from 5.35% to 5.50% APY. This account only requires $5 to open and has no minimum requirement to earn interest. The only problem with RateEdge is that it's a division of Sunmark Federal Credit Union which has a limitied field of membership. For those eligible to join, it's a great deal.

RateEdge was launched around September of 2005 and it has always maintained very competitive with rates...



Continue Reading
5.35% No-Min Online Savings Account
RateEdge just increased the rate on its online savings account from 5.25% to 5.35% APY. This account only requires $5 to open and has no minimum requirement to earn interest. The only problem with RateEdge is that it's a division of Sunmark Federal Credit Union which has a limitied field of membership. For those eligible to join, it's a great deal.

RateEdge was launched around September of 2005 and it has always maintained very competitive rates. It had maintained rates 25 basis points above the Fed funds rate until last June...

Continue Reading
$50 Bonus and 5.25% Savings Account at a New York CU (RateEdge)
RateEdge.com is offering a $50 cash bonus for opening a RateEdge.com account with $5,000 or more. It must be a new account and the money must be new to Sunmark FCU (the parent of RateEdge). The offer is good through 12/31/06. The account must remain open for 90 days after account opening. The $50 will be credited within 30 days.

This promotion is a little surprising since this RateEdge's 5.25% APY savings account is the best online savings account from any credit union. RateEdge.com is an online division of Sunmark...

Continue Reading
5.25% No-Minimum Savings Account (New York CU)
If Citibank's 4.75% no-minimum savings account sounds good, how about 5.25%? The yield on RateEdge.com's no-minimum online savings account reached 5.25% APY today. RateEdge.com has consistently maintained a yield higher than the online savings accounts offered by the banks. Unfortunately, RateEdge.com is a division of Sunmark FCU which has a field of membership (FOM) that's primarily limited to those who live in areas of New York State.

One note regarding their FOM, you can also be eligible even if you don't live in this area of New York State. If an...

Continue Reading

More Past Offers