Pennsylvania

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Credit Union CD Rates – 2-Year – Erie, Pennsylvania 2019

Below are two year Certificates of Deposit (CD) rates from credit unions located in Erie, Pennsylvania. Two year CDs generally offer a higher rate than 1 year CDs but require a longer commitment. Depending on the economy, longer term CDs may or may not offer more premium as the term increases. If you expect rates on credit union and bank products to drop, can afford to lock the money away, and feel you are receiving enough premium for the time commitment, then longer-term CDs may be appropriate.

Erie, PA - December 7, 2019

2 Year CD National Average : 1.09% ?

Advertiser Disclosure
Credit UnionS APY MIN MILES ?
2.30% $100,000 4854.55
Horizon
Restrictions
2.27% $500 4977.12
Riverfront
Restrictions
2.25% $1,000 4896.53
Clarion
Restrictions
2.25% $500 5080.01
2.20% $10,000 4854.55
2.15% $25,000 4861.94
2.10% $500 4887.35
Patriot
Restrictions
2.10% $10,000 4954.62
Genisys
Restrictions
2.10% $500 4860.75
Cacl
Restrictions
2.10% $5,000 4921.20
Philadelphia
Restrictions
2.10% $25,000 4943.03
Service 1st
Restrictions
2.05% $500 4949.38
Trumark Financial
Restrictions
2.05% $75,000 4845.60
2.02% $10,000 4975.61
Bellco
Restrictions
2.02% $500 4897.05
Sru
Restrictions
2.02% $500 5104.50
Philadelphia
Restrictions
2.00% $10,000 4943.03
Discovery
Restrictions
2.00% $500 4898.61
Citadel
Restrictions
2.00% $75,000 4873.65
Freedom
Restrictions
2.00% $500 4852.89
Trumark Financial
Restrictions
2.00% $500 4845.60
Franklin Mint
Restrictions
2.00% $500 4855.43
Sun East
Restrictions
2.00% $500 4854.51
2.00% $1,000 4861.94
Palco Fcu
Restrictions
1.96% $10,000 4969.39
1.96% $500 4878.69
Diamond
Restrictions
1.95% $75,000 4877.60
Citadel
Restrictions
1.95% $500 4873.65
South Jersey
Restrictions
1.92% $1,000 0.00
Tri County Area
Restrictions
1.92% $500 4878.87
Frick Tri-county
Restrictions
1.90% $500 5045.84
American Heritage
Restrictions
1.90% $1,000 4846.38
Century Heritage
Restrictions
1.90% $100,000 5072.32
Diamond
Restrictions
1.90% $1,000 4877.60
Tendto
Restrictions
1.88% $10,000 5146.51
Widget
Restrictions
1.82% $1,000 5145.55
Century Heritage
Restrictions
1.80% $500 5072.32
Inspire
Restrictions
1.76% $500 4840.46
Heritage Valley
Restrictions
1.75% $500 4914.63
Ardent
Restrictions
1.75% $100 4847.17
First Capital
Restrictions
1.75% $1,000 4918.02
Grove City Area
Restrictions
1.75% $2,000 5108.87
Pentagon
Restrictions
1.75% $1,000 4795.42
First Heritage
Restrictions
1.72% $100,000 5010.58
Police & Fire
Restrictions
1.70% $1,000 4846.43
Ingersoll-rand
Restrictions
1.66% $1,000 4985.68
Guthrie
Restrictions
1.66% $1,000 4986.18
Lebanon
Restrictions
1.65% $75,000 4916.76
Corning
Restrictions
1.65% $100,000 4952.65
1.65% $500 4979.44
First Heritage
Restrictions
1.62% $1,000 5010.58
1.61% $75,000 4930.89
Corning
Restrictions
1.60% $1,000 4952.65
1.60% $500 5080.01
Usx
Restrictions
1.60% $10,000 5092.25
Lebanon
Restrictions
1.60% $10,000 4916.76
Sun
Restrictions
1.56% $500 4847.29
1.51% $10,000 4930.89
Visions
Restrictions
1.51% $500 4973.37
Bayer Heritage
Restrictions
1.51% $500 5087.47
White Rose
Restrictions
1.50% $500 4913.89
Hershey
Restrictions
1.50% $500 4927.47
Americhoice
Restrictions
1.50% $500 4935.05
1.50% $1,000 5076.72
Ohio Catholic
Restrictions
1.45% $100,000 -
1.41% $500 4954.12
Members 1st
Restrictions
1.40% $100,000 4935.06
1.36% $500 4929.36
Ohio Catholic
Restrictions
1.35% $25,000 -
1.31% $500 5077.94
Democracy
Restrictions
1.31% $1,000 4846.23
Clearview
Restrictions
1.30% $1,000 5090.34
Ohio Catholic
Restrictions
1.25% $500 -
Members 1st
Restrictions
1.25% $10,000 4935.06
People First
Restrictions
1.20% $500 4884.89
Galaxy
Restrictions
1.16% $500 5107.38
1.15% $500 4845.90
Erie
Restrictions
1.05% $1,000 5143.87
1.00% $500 4961.84
1.00% $1,000 4931.47
Parda
Restrictions
0.90% $500 4905.25
Net
Restrictions
0.90% $1,000 4924.81
Penn East
Restrictions
0.90% $1,000 4926.87
Norristown Bell
Restrictions
0.89% $500 4860.85
0.75% $500 4949.68
Lanco
Restrictions
0.75% $500 4902.26
0.70% $500 4885.73
The United
Restrictions
0.65% $500 5046.68
Vantage Trust
Restrictions
0.55% $2,500 4927.55
0.40% $500 4858.39
Spe
Restrictions
0.40% $500 4998.56
Penn State
Restrictions
0.25% $500 4997.72
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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