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Credit Union CD Rates – 18-Month – New York 2019

Below are eighteen month Certificates of Deposit (CD) rates from credit unions in New York. Eighteen Month CDs offer a bit more yield than 1 year CDs but require a longer time-commitment. Like any CD, you should consider the trade-off between the difference in yield and the required time commitment. If an 18 month CD pays significantly above the yield of a 12-month CD, it may be worth opening.

NY - March 24, 2019

18 Month CD National Average : 1.20% ?

Advertiser Disclosure
Credit UnionS APY MIN MILES ?
Cfcu Community
Restrictions
3.00% $500 -
Sperry Associates
Restrictions
2.80% $500 -
G.p.o.
Restrictions
2.75% $1,000 -
The Summit
Restrictions
2.75% $500 -
Empower
Restrictions
2.75% $10,000 -
Sunmark
Restrictions
2.75% $75,000 -
Quorum
Restrictions
2.75% $100,000 -
Americu
Restrictions
2.70% $1,000 -
Quorum
Restrictions
2.65% $1,000 -
People's Alliance
Restrictions
2.65% $500 -
2.60% $100,000 -
Teachers
Restrictions
2.60% $1,000 -
2.60% $100,000 -
Pittsford
Restrictions
2.60% $90,000 -
Island
Restrictions
2.60% $1,000 -
Pentagon
Restrictions
2.60% $1,000 -
Sunmark
Restrictions
2.50% $500 -
Pittsford
Restrictions
2.50% $50 -
2.40% $500 -
2.40% $500 -
Geico
Restrictions
2.37% $1,000 -
2.35% $10,000 -
Usalliance
Restrictions
2.35% $500 -
Nassau Financial
Restrictions
2.30% $1,000 -
2.30% $1,000 -
2.27% $1,000 -
Riverside
Restrictions
2.26% $250 -
Xceed Financial
Restrictions
2.25% $500 -
2.20% $500 -
People's Alliance
Restrictions
2.16% $500 -
Affinity
Restrictions
2.10% $500 -
Inner Lakes
Restrictions
2.07% $500 -
2.01% $1,000 -
Geico
Restrictions
1.92% $1,000 -
Justice
Restrictions
1.91% $500 -
1.91% $500 -
Mohawk Valley
Restrictions
1.87% $10,000 -
1.78% $1,000 -
Financial Trust
Restrictions
1.76% $1,000 -
United Nations
Restrictions
1.55% $500 -
Mid-hudson Valley
Restrictions
1.50% $500 -
Greater Woodlawn
Restrictions
1.50% $2,500 -
Corning
Restrictions
1.50% $100,000 -
Western New York
Restrictions
1.50% $1,000 -
Palisades
Restrictions
1.46% $10,000 -
Corning
Restrictions
1.45% $1,000 -
First Heritage
Restrictions
1.41% $1,000 -
Polish & Slavic
Restrictions
1.31% $500 -
Centra
Restrictions
1.30% $500 -
Visions
Restrictions
1.26% $500 -
A C M G
Restrictions
1.26% $1,000 -
1.25% $500 -
Ghs
Restrictions
1.20% $500 -
Teg
Restrictions
1.15% $500 -
Servu
Restrictions
1.10% $1,000 -
0.95% $2,500 -
Sidney
Restrictions
0.95% $500 -
0.95% $500 -
Sea Comm
Restrictions
0.90% $1,000 -
0.80% $500 -
Olean Area
Restrictions
0.75% $500 -
Good Neighbors
Restrictions
0.75% $500 -
Advantage
Restrictions
0.70% $500 -
Mcgraw Hill
Restrictions
0.60% $10,000 -
Meridia Community
Restrictions
0.60% $500 -
Ulster
Restrictions
0.55% $500 -
Cfcu Community
Restrictions
0.55% $500 -
Esl
Restrictions
0.55% $500 -
Reliant Community
Restrictions
0.55% $1,000 -
Finger Lakes
Restrictions
0.55% $10,000 -
Affinity One
Restrictions
0.50% $1,000 -
Dannemora
Restrictions
0.40% $1,000 -
Twin Rivers
Restrictions
0.35% $1,000 -
Municipal
Restrictions
0.30% $250 -
Partners 1st
Restrictions
0.26% $500 -
First New York
Restrictions
0.25% $500 -
Ticonderoga
Restrictions
0.25% $500 -
0.20% $500 -
All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Credit Union Certificates of Deposit 2019

Credit union certificates of deposit (“CDs”, also commonly called “time deposits�t at credit unions) are contract-based and time-based savings vehicles that are offered by credit unions. In return for agreeing to keep your money tied up with the credit union for a given time period, you earn a fixed rate or return that cannot change over the course of that period. Should you need your money before the expiration of the contractual period, the penalties for early withdrawal can be severe. Not all credit unions even offer early withdrawal from CDs; many that do offer it maintain the right to deny it in their fine print. It therefore is important to fully understand the terms of any time-based deposit that you enter with a credit union. Read this article for further detail on early withdrawal penalties. {hyperlink: https://www.bestcashcow.com/articles/can-you-always-withdraw-your-money-early-from-a-cd-9178}

Many Americans enjoy performing their banking transactions with credit unions, citing better rates, non-profit status (owned by its depositors), more helpful employees, and a commitment to the community that is above the level offered by local banks. You will find a map with all credit unions that are close to you here. It is important to note that some credit unions have limited fields of membership, although others are more open ended. Under any circumstance, you must meet the membership requirements in order to become a member and open a CD or time deposit.

Those who are willing to tie up their money for one year will often get a slight premium over the best available savings rates. People who work with credit unions may find that they offer better rates on CDs or time deposits than local banks and online banks. You however should check the local bank rates where you live here and the online rates here.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

NCUA Insurance

Most, but not all, credit unions listed on BestCashCow are insured by the National Credit Union Administration (NCUA). You should confirm that the credit union that you are working with is NCUA-insured by visiting that institution’s BestCashCow page (NCUA coverage is detailed on the overview tab). The NCUA insures each named individual's deposits to $250,000 for all accounts at the credit union within ownership class. The rules are very similar, but not identical, to those for FDIC insurance. You should always stay within NCUA insurance limits.

BestCashCow strongly recommends that you deposit money only in NCUA insured credit unions and that you stay within insured limits. If you are considering depositing over $250,000 at a single NCUA-insured credit union across products (share certificates, time deposits, etc.) or across types of ownership (individual, joint, etc.) you should use the NCUA’s Share Insurance Toolkit in order to be sure that you are not exceeding coverage limits.

FREQUENTLY ASKED QUESTIONS ABOUT CREDIT UNIONS

Is my money any less safe at a credit union?

As long as your credit union is NCUA insured and you stay within the NCUA limits, As long as your credit union is NCUA insured and you stay within the NCUA limits, your money is no less safe than it would be in an FDIC-insured bank.

Is there any difference between a time deposit offered by a credit union and a CD account offered by a bank?

The difference is mainly one of terminology. But, you should always completely understand the terms of a time deposit or CD before you enter it, paying careful attention to the early withdrawal penalties. A reasonable early withdrawal penalty for a 1-year CD or time deposit is 3 months, and a reasonable early withdrawal penalty for a longer term CD is 6 months.

Does the small amount of interest gained on a time deposit make sense given the fact that I am losing access to my capital (liquidity)?

This is a decision that depends on your own specific circumstances, your needs for cash, and other investments that you may wish to pursue over the period of your time deposit or CD. The premium in a one-year CD is very small, with the premium of longer-term CDs being a little wider. A small difference in compounding interest can make a large difference over long period of time. You may wish to familiarize yourself with our Savings Booster Calculator  {insert hyperlink} in order to understand the importance of compounding interest at higher rates on your money over time.

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