New York

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Credit Union CD Rates – 4-Year – New York 2020

Below are four year CD Rates from credit unions in New York. Four Year Certificates of Deposit (CD) are not as popular as the three and five year terms which means the rates often aren’t as competitive. The best four year cd rates are often only marginally above the 3 year rates. Nevertheless, for those who want to lock in a rate for a longer period of time, 4 year cds are worth a look.

NY - May 29, 2020

4 Year CD National Average : 0.81% ?

Advertiser Disclosure
Credit Unions APY MIN MILES ?
Suma Yonkers
Restrictions
1.92% $100,000 - Learn More
Great Meadow
Restrictions
1.90% $500 - Learn More
American Airlines
Restrictions
1.87% $10,000 - Learn More
Suma Yonkers
Restrictions
1.82% $1,000 - Learn More
Saint Lawrence
Restrictions
1.71% $75,000 - Learn More
Visions
Restrictions
1.71% $500 - Learn More
Wings Financial
Restrictions
1.66% $100,000 - Learn More
Sidney
Restrictions
1.66% $100,000 - Learn More
Great Erie
Restrictions
1.66% $10,000 - Learn More
Buffalo Service
Restrictions
1.66% $500 - Learn More
Inner Lakes
Restrictions
1.66% $1,000 - Learn More
Ohio Catholic
Restrictions
1.65% $500 - Learn More
Cfcu Community
Restrictions
1.65% $100,000 - Learn More
Wings Financial
Restrictions
1.61% $10,000 - Learn More
Sea Comm
Restrictions
1.55% $1,000 - Learn More
1.55% $1,000 - Learn More
Corning
Restrictions
1.55% $100,000 - Learn More
1.51% $250 - Learn More
Alternatives
Restrictions
1.51% $500 - Learn More
Saint Lawrence
Restrictions
1.51% $1 - Learn More
First Heritage
Restrictions
1.51% $1,000 - Learn More
Geico
Restrictions
1.51% $1,000 - Learn More
Financial Trust
Restrictions
1.51% $50,000 - Learn More
Teg
Restrictions
1.50% $500 - Learn More
Finger Lakes
Restrictions
1.50% $500 - Learn More
Corning
Restrictions
1.50% $1,000 - Learn More
1.50% $100,000 - Learn More
1.45% $10,000 - Learn More
Palisades
Restrictions
1.41% $100,000 - Learn More
Sidney
Restrictions
1.41% $500 - Learn More
A C M G
Restrictions
1.41% $1,000 - Learn More
Cfcu Community
Restrictions
1.40% $500 - Learn More
Greater Metro
Restrictions
1.36% $500 - Learn More
Meridia Community
Restrictions
1.36% $500 - Learn More
Mid-hudson Valley
Restrictions
1.35% $500 - Learn More
1.31% $2,500 - Learn More
Empire One
Restrictions
1.31% $1,000 - Learn More
Advantage
Restrictions
1.30% $500 - Learn More
1.30% $1,000 - Learn More
The Summit
Restrictions
1.30% $500 - Learn More
Empower
Restrictions
1.30% $10,000 - Learn More
First Source
Restrictions
1.30% $1,000 - Learn More
Quorum
Restrictions
1.29% $100,000 - Learn More
Financial Trust
Restrictions
1.26% $1,000 - Learn More
Suffolk
Restrictions
1.25% $500 - Learn More
Pentagon
Restrictions
1.25% $1,000 - Learn More
Jovia Financial
Restrictions
1.25% $1,000 - Learn More
1.25% $500 - Learn More
Bethpage
Restrictions
1.25% $50 - Learn More
Teachers
Restrictions
1.25% $1,000 - Learn More
1.21% $50,000 - Learn More
Palisades
Restrictions
1.21% $10,000 - Learn More
Ukrainian
Restrictions
1.21% $500 - Learn More
Island
Restrictions
1.20% $1,000 - Learn More
Quorum
Restrictions
1.19% $1,000 - Learn More
1.18% $500 - Learn More
Sperry Associates
Restrictions
1.15% $500 - Learn More
People's Alliance
Restrictions
1.14% $500 - Learn More
1.11% $500 - Learn More
1.11% $50,000 - Learn More
1.11% $1,000 - Learn More
Xcel
Restrictions
1.10% $500 - Learn More
Affinity
Restrictions
1.10% $500 - Learn More
Pittsford
Restrictions
1.10% $90,000 - Learn More
Usalliance
Restrictions
1.00% $500 - Learn More
Centra
Restrictions
1.00% $500 - Learn More
Reliant Community
Restrictions
1.00% $50,000 - Learn More
1.00% $500 - Learn More
Xceed Financial
Restrictions
1.00% $500 - Learn More
Pittsford
Restrictions
1.00% $50 - Learn More
1.00% $500 - Learn More
1.00% $500 - Learn More
Justice
Restrictions
0.98% $100,000 - Learn More
0.95% $1,000 - Learn More
Centra
Restrictions
0.95% $100,000 - Learn More
Access
Restrictions
0.95% $1,000 - Learn More
G.p.o.
Restrictions
0.95% $1,000 - Learn More
Ohio Catholic
Restrictions
0.90% $100,000 - Learn More
First New York
Restrictions
0.90% $500 - Learn More
0.90% $100,000 - Learn More
0.90% $500 - Learn More
Justice
Restrictions
0.88% $500 - Learn More
Affinity One
Restrictions
0.88% $1,000 - Learn More
0.85% $500 - Learn More
Reliant Community
Restrictions
0.85% $1,000 - Learn More
Americu
Restrictions
0.85% $500 - Learn More
Olean Area
Restrictions
0.80% $500 - Learn More
0.80% $1,000 - Learn More
Riverside
Restrictions
0.80% $250 - Learn More
Ohio Catholic
Restrictions
0.80% $25,000 - Learn More
Western Division
Restrictions
0.80% $250 - Learn More
0.75% $1,000 - Learn More
0.75% $5,000 - Learn More
0.75% $500 - Learn More
0.75% $500 - Learn More
0.70% $500 - Learn More
Nassau Financial
Restrictions
0.70% $1,000 - Learn More
0.70% $500 - Learn More
Dannemora
Restrictions
0.70% $1,000 - Learn More
Ufirst
Restrictions
0.60% $10,001 - Learn More
Ticonderoga
Restrictions
0.55% $500 - Learn More
Niagara's Choice
Restrictions
0.50% $500 - Learn More
Polish & Slavic
Restrictions
0.50% $500 - Learn More
Partners 1st
Restrictions
0.45% $500 - Learn More
Auburn Community
Restrictions
0.45% $500 - Learn More
0.41% $100,000 - Learn More
Esl
Restrictions
0.40% $100,000 - Learn More
0.36% $1,000 - Learn More
Esl
Restrictions
0.35% $500 - Learn More
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 2020

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.

SAVINGS & CD CALCULATOR

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