Garden Savings Federal Credit Union has recently begun to offer a very competitive 2-year CD special. It has a 1.51% APY, and a minimum deposit of $1,000. New deposits are required which are defined as funds that have not been on deposit at Garden Savings for at least 90 days prior to CD opening. The credit union continues to offer a 6-month CD special with a 1.00% APY. I first reported on this 6-month CD in June. These CD rates are listed in the credit union’s rates page as of 8/28/2013.
You can qualify for membership into Garden Savings FCU by joining the American Consumer Council (ACC). This is now listed in the credit union's Field of Membership list. In fact, the credit union even lists the ACC website where you can join. Anyone can join ACC.
Membership is also open to those who live, work, worship, or attend school in Newark, Elizabeth, or Jersey City. In addition, you can be eligible to join via Select Employer Groups and via family. Please refer to their membership page for more details. Membership requires a minimum deposit of $5 into the share savings account.
Credit Union Overview
Garden Savings FCU branches are located in Parsippany, Newark, Murray Hill, Montville and Morristown, New Jersey.
The credit union's overall health score at DepositAccounts.com is 4 stars (out of 5) with a Texas Ratio of 11.00% (above average) based on March 2013 data. Please refer to our financial overview of Garden Savings Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 18710).
How This CD Rate Compares
This Garden Savings CD rate beats the best 2-year CD rates from other all-access credit unions. Fort Knox Federal Credit Union has a special 23-month CD with a 1.40% APY, but the credit union has an unsavory history. Connexus Credit Union has a 2-year CD with a 1.30% APY, but this requires an active checking account. The best nationally available 2-year CD rate at a bank is 1.25% APY at Salem Five Direct. These rates are accurate as of 8/28/2013.
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.