Teachers Federal CU (Long Island) Very Competitive 18-month CD Special

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Over the weekend, Teachers Federal Credit Union (Long Island, NY) began offering a new 18-month CD Special (1.50% APY). According to the Teachers Federal Credit Union’s (TFCU) website, this is a limited time offer. The minimum opening deposit is $1K, with no maximum balance cap. This 18-month CD Special is also available as an IRA (Traditional and Roth) at the same rate.

As stated on the Teachers FCU Certificates page, the Early Withdrawal Penalty is as follows:

Terms of MORE THAN ONE YEAR, the penalty for premature withdrawal will be the lesser of the following: all dividends earned since the date of issuance or 270 days dividends.

Availability

No, you don’t have to be a teacher to join Teachers Federal Credit Union. Any U.S. citizen or resident alien who lives, works (or regularly conducts business) worships, or attends school in Nassau County, New York, or the following portions of Suffolk County, New York, can join Teachers Federal Credit Union: Town of Huntington; Town of Babylon; Town of Smithtown; Town of Islip; Town of Brookhaven; the Poospatuck Reservation; Town of Riverhead; or Town of Southold.

Joining Teachers FCU can be done online, or in person at any of 25 branches located in Amityville, Bay Shore (2), Central Islip, Commack, East Northport, Farmingville, Hauppauge (2), Holbrook, Huntington, Nesconset, North Babylon, Oakdale, Port Jefferson, Riverhead, Rocky Point, Selden, Shirley, Smithtown, South Setauket, Stony Brook (2), Upton, and Wading River.

TFCU does have online banking for managing accounts, but opening a CD requires an in-person branch visit.

Credit Union Overview

Teachers Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 2.38% (excellent) based on June 30, 2014 data. Teachers FCU has an above average capitalization level of 10.20%, holding assets of $4.97 Billion, with $506.53 Million in equity. Please refer to our financial overview of Teachers FCU for more details.

Teachers Federal Credit Union, one of the largest credit unions in the country, is a full-service, not-for-profit financial institution. TFCU was founded on Long Island in 1952 (NCUA Charter # 8116) and now has over $4.9 billion in total assets, serving more than 239,000 members. According to TFCU’s President/CEO Robert G. Allen, "approximately 20% of all Suffolk County households are already TFCU members," and future expansion plans aim to increase that number.

How the Rate Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com requiring a $1K minimum deposit and available to New York State residents, Teachers Federal Credit Union’s 18-month CD Special is highly competitive.

Interest Rate CD Length Institution
1.50% APY 18-month CD Special Teachers Federal Credit Union
1.20% APY 18-month CD The Berkshire Bank
1.06% APY 18-month CD Nationwide Bank

These rates are accurate as of 9/28/2014.

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

Comments
2.50% 16-Month Jumbo CD Continues at Teachers Federal Credit Union in New York - Local Only
Update 1/09/2010: The Jumbo 16-month CD special rate has fallen to 2.30% APY.

Teachers Federal Credit Union continues to offer a special 16-month Jumbo certificate with a 2.50% APY. Minimum deposit for Jumbos is $100,000. For a $1,000 minimum, the APY is 2.20% which is still very competitive. This special is also available in an IRA and Coverdell Education Savings Account. These rates are listed in the credit union's rate table as of 10/07/2009.

The credit union also continues to offer competitive rates on its Tiered Money Market Account. The rates have...



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2.40% 16-Month Jumbo CD at Teachers Federal Credit Union in New York - Local Only
Update 12/05/09: The Jumbo 16-month CD rate has fallen to 2.30% APY. The regular 16-month rate has fallen to 1.85% APY. Please check the credit union's website for the latest rates.

Teachers Federal Credit Union is still offering a special 16-month Jumbo certificate. The rate has gone down since October, but it's still very competitive with a 2.40% APY. Minimum deposit for Jumbos is $100,000. For a $1,000 minimum, the APY is 2.20% which is still very competitive. This special is also available in an IRA and Coverdell Education Savings...

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2.50% 16-Month CD at Teachers Federal Credit Union in New York - Local Only
Teachers Federal Credit Union is offering a special 16-month Jumbo certificate with a 2.50% APY. Minimum deposit for Jumbos is $100,000. For a $1,000 minimum, the APY is 2.20%. This special is also available in an IRA and Coverdell Education Savings Account. These rates are listed in the credit union's rate table as of 8/04/2009.

The credit union also has competitive rates on its Tiered Money Market Account. The rates are down from my May post, but they're still not bad for a brick-and-mortar institution. The rates include a 1.96% APY...

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Competitive Jumbo Money Market and CD Rates at Teachers FCU in New York
Teachers Federal Credit Union is offering a special 11-month Jumbo certificate with a 2.60% APY. Minimum deposit for Jumbos is $100,000. The credit union also has competitive rates on its Tiered Money Market Account with a 2.42% APY for a $100,000 balance and a 2.16% APY for balances between $50,000 and $100,000. These rates are listed in the credit union's rate table as of 5/11/2009.

Membership is open to those who live, work or worship in parts of Suffolk County. Also eligible are employees, students, family members and volunteers of Suffolk...

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2.75% 6-Month Jumbo CD at Teachers Federal Credit Union in New York
Teachers Federal Credit Union is offering a special 6-month Jumbo certificate with a 2.75% APY. Minimum deposit for Jumbos is $100,000. There's also a fairly competitive 12-month CD with a 2.30% APY. Minimum deposit is $1,000. An extra 0.10% applies to new funds deposited into IRA certificates by 4/15/09. These rates are listed in the credit union's rate table as of 4/01/2009. The Jumbo certificate rate table has an effective date of 3/31/2009.

Membership is open to those who live, work or worship in parts of Suffolk County. Also eligible are...

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