Greater Metro Federal Credit Union has made some changes with lower rates on its Jumbo short-term CDs. However, they remain competitive. The rates are 1.51% APY for 1 year, 1.26% APY for 6 months and 1.11% APY for 3 months. Minimum deposit is $50K. Its long-term CD and IRA CD rates haven't changed since December, and they remain very competitive: 3.30% APY for 5 years, 3.05% APY for 4 years and 2.28% APY for 3 years. Minimum deposit is $500. These rates are listed in the credit union's rates page as of 2/14/2011.
As a comparison to credit unions with nationwide memberships, the best 5-year CD rate is 3.00% APY at Connexus Credit Union as of 2/14/2011. However, this requires an active checking account. Melrose Credit Union is in second place with a 2.93% APY.
Membership in Greater Metro FCU is primarily based on select employer groups. Unfortunately, this makes it difficult for many to join. Please refer to the credit union's Membership Eligibility section for more details. Greater Metro FCU was originally established in 1970 by a group of IBM employees in the Metropolitan New York area. They've added more employer groups, but they haven't gone to a community-based field of membership.
Branches are located in New York City.
The credit union has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 2.25% (excellent) based on September 2010 data. Please refer to our financial overview of Greater Metro Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter 20382).
Searching for the Best CD Rates
To search for the best nationwide rates and the best rates in your state, please refer to the following tables at DepositAccounts.com: