Decent 3 month CD rates for New York, NY residents

BankVibe.com reader Yosh sent us a pretty solid 3 month CD available to residents in New York City. It comes from Marathon Bank and pays and APY of 1.0% on deposits between $1,000 and $100,000. We realize a 1 percent yields on any deposit products are never anything to get giddy over, however, it still crushes the current national average for 3 month CD’s by almost 1/2 percent.

Marathon National Bank of New York was founded in 1989 to serve the financial needs of local consumers and business owners in the greater New York Metropolitan area. The bank’s principal belief was that it’s ability to provide high quality customer service would be the key factor in retaining and growing a solid customer base. For almost two decades, this full service commercial bank has been dedicated to the ideal of providing creative financial solutions and unparalleled personal service to its customers.

Marathon banks other certificate of deposit offerings are fairly lack luster. The only decent CD rate they have (when compared to the national average) is there 3 month product. Their longer term deposits aren’t even noteworthy.

Complete List of CD rates offered through Marathon Bank:

Like all bank rates, these are time-sensitive in nature and may change without notice. Please refer to the date of this article for accuracy. You may view Marathon Bank’s current CD rates here.

Compare these rates to other CD rates in New York.

Incredible Bank’s CD Rates and Review (online 12 mo. CD)

Incredible Bank, an online division of River Valley Bank in Wisconsin, is offering an “INCREDIBLE CD” that is only available online. As of the 28th of May this 12 month CD comes with any APY of 2.00%. To put this offer in perspective, the current national average for 1 year CDs sits at roughly 1.15% APY. Their are a few catches with this product that you must take into account before opening – first, you accumulate your interest in a somewhat awkward fashion. For example, with their 12 month CD, you will incur an interest rate of just 1.75% APY on your first 6 months, then the second 6 months of the 1 year term yields 2.25% APY …averaging out to 2.0% APY for the life of the deposit. Second, they require a rather steep minimum deposit of $10,000 and you will need to make this deposit online through Automated Clearing House Network.

This offer is available to consumers across and is federally insured by the FDIC.

Details, Terms and Conditions associated with Incredible Bank’s “Incredible CD”:

• Annual percentage yield offered as of 05/28/2010 for this 12 month-IncredibleBank certificate of deposit.
• APY may change at any time without prior notice.
• First six months earns 1.75% APY. Second six months earns 2.25% APY.
• $10,000 minimum deposit to open the CD. $10,000 minimum balance to earn the stated APY.
• Maximum of $225,000 allowed to be invested in one or more IncredibleBank certificates of deposit.
• Alternative terms not allowed.
• Fees may reduce earnings.
• Penalty for early withdrawal.
• Additional restrictions apply.

They also have a high interest checking account available online as well. Here are the features of that account:

• $0-$250,001 earns 1.53% APY. Above $250,001 earns 1.00% APY.
• Rate offered as of 5/3/10.
• $1,000 minimum deposit to open the account.
• Fees may reduce earnings.
• Rate subject to change without notice.

Top 12 month CD rates in New York smash national average!

We were forwarded a pretty sweet 12 month CD rate over the weekend by New York state resident Neil F. Currently if you are eligible to join American Airlines Federal Credit Union you can take advantage of a 12 month CD yielding a whopping 1.91% APY with a $10,000 minimum deposit (1.81% APY with a $1,000 deposit)! To put this offer in perspective the current national average for bank CDs (certificate of deposits) with 1 year maturities sits at roughly 1.14% APY.

America Airlines Credit Union (Jamaica, New York) CD Rates:

- 12 month CD yielding 1.81% APY with a minimum deposit of $1,000 required and 1.91% APY with a minimum deposit of $10,000 required.

- 24 month CD yielding 1.91% APY with a minimum deposit of $1,000 required and 2.02% APY with a minimum deposit of $10,000 required.

- 30 month CD yielding 2.32% APY with a minimum deposit of $1,000 required and 2.42% APY with a minimum deposit of $10,000 required.

- 36 month CD yielding 2.52% APY with a minimum deposit of $1,000 required and 2.63% APY with a minimum deposit of $10,000 required.

- 48 month CD yielding 2.98% APY with a minimum deposit of $1,000 required and 3.14% APY with a minimum deposit of $10,000 required.

- 60 month CD yielding 3.14% APY with a minimum deposit of $1,000 required and 3.39% APY with a minimum deposit of $10,000 required.

Before you get too excited about these rates (particularly their 12 month CD rates) understand that AACU is a fairly difficult credit union to join. If you dont have family members who work for -or are retired from- AA or related organizations such as TSA, FAA, etc., then you may be tough out of luck. So for those New York residents who don’t qualify here are some other valuable options…

Best 12 month CD rates available to New York residents:

- CCSE Federal Credit Union (out of Salamanca, New York) has a 12 month CD yielding 1.764% APY with a $1,000 minimum deposit required.

- CFCU Community Credit Union (out of Ithica, New York) has a 12 month CD yielding 1.76% APY with a $500 minimum deposit required.

- Atlas Bank (out of Brooklyn, New York) has a 12 month CD yielding 1.66% APY with a $2,500 minimum deposit required.

Like all bank rates, these are time sensitve in nature so please refer to the date of this article for accuracy. You may want to scroll through our archive of New York CD Rates to look for more offers available in your area.

Top 30 month CD rates offered through TFCU

The best 30 month CD rates we found this week came out of a relatively small credit union in the El Paso, Texas region. Unfortunately, like most member-owned, community credit unions, this one is nearly impossible to join if you live outside of Texas and don’t have family members whom are currently members.

If you are fortunate enough to be eligible to join this organization you will be able to snag a 30 month CD yielding 2.68% APY with a minimum deposit of just $500.

To put this offer in perspective the current national average for 12 month CD’s sits at roughly 1.17% APY and the current national average for 36 month CD’s sits at just 1.98% APY.

CD Rates offered through El Pase Area Teachers Federal Credit Union:

12 months 1.76% APY
18 months 2.17% APY
30 months 2.68% APY
60 months 3.50% APY

- You may want to compare these rates with other CD rates in Texas. If you live in the state you may also want to review other credit unions in Texas.

Membership Requirements:Individuals who live or work in El Paso, Texas can join this credit union. You will be required to put in a minimum of $25 into a savings account when you sign up. Take a look at their membership details to learn more about the entire membership process.

Unique Approach to Online Banking: TFCU’s website interface gives you two options from the get go – you can either go corporate or go hippie! The corporate website is a no-nonsense interface with professional images and straight foward navigation. The hippie side is completely different – with a psychedelic feel and look it almost makes online banking fun!

If you have experience with TFCU, feel free to share by leaving a comment!

$100 Bonus with new 4-year Online CD (certificate of deposit)

A pretty sweet bank promotion is underway at OneUnited Bank. Currently when you open a new 4 year CD with a minimum deposit of $25,000 they will drop $100 into your account after 90 days. The interest rate you will receive with this promotion is 2.40% APY – which isn’t too shabby considering the top 4 year online CDs are barely paying over 2.50% APY. You can also look at this offer as a 4 year CD yielding 2.80% APY if you choose to deposit the $25k minimum required for the bonus (the $100 bonus essentially ads another 0.40% to your CD yield).

* One thing to note is that their rates haven’t changed since December 1, 2009. And at that time we were experiencing slightly higher CD rates than we are experiencing today…so this offer has grown to be a bit more lucrative than it was in December of last year.

Details, Terms and Conditions:

The interest rate (2.40%) and annual percentage yield (APY) are effective as of December 1, 2009. $1,000 minimum balance to open and earn disclosed APY.

$25,000 minimum balance to earn the $100 bonus. $100 bonus will be deposited into your account 90 days after account opening.

All rates are subject to change daily. Interest on CDs is compounded at the end of the term or annually, which ever is shorter. A penalty may be imposed for early withdrawals on all CDs, and fees may reduce earnings on the account.

Eligible accounts must be opened by 6/30/10 and cannot be overdrawn. Limit $100 bonus per customer. This offer cannot be combined with any other offer from OneUnited Bank. $100 bonus is subject to 1099 MISC reporting.

Hyperion Bank CD Rate Specials and Promotions

Hyperion Bank, based out of Philadelphia, Pennsylvania currently has some pretty lucrative CD rates given the current market for savings accounts. Their best products come in the form of short term CD rates. They have a 3 month CD special available as of May, 18, 2010 which offers a return of 1.15% APY with a minimum deposit of just $399.00 required. To put this offer in perspective, the national average for 3 month CDs sits at around 0.30% APY.

About Hyperion Bank:

Hyperion Bank claims to be the first community bank to locate in the urban section of Philadelphia in more than 20 years, opening its doors in November of 2006 in the Northern Liberties area, about a mile and a half north of the Liberty Bell. They chose this site because of its extensive residential redevelopment, expanding small businesses and deep-rooted neighborhood residents.

In addition to bringing a new urban banking center to the neighborhood, Hyperion Bank also brought urban revitalization. Housed in a stunning red brick building (above) that over a century ago was Philadelphia’s Eighth National Bank, their initial branch and corporate headquarters, located at the northeast corner of Second Street and Girard Avenue, was a vacant warehouse for the last couple of decades. Now the 135 year old bank building has been restored to its original 1871 grandeur, has received an award from the Preservation Alliance for Greater Philadelphia and is a signature footprint in the area’s urban revitalization.

Current CD Rates offered through Hyperion Bank:

- 30 day CD yielding 0.65% APY with a minimum deposit of $399 required.

- 3 month CD special yielding 1.15% APY with a minimum deposit of $399 required.

- 6 month CD yielding 0.85% APY with a minimum deposit of $399 required.

- 9 month CD yielding 1.00% APY with a minimum deposit of $399 required.

- 12 month CD yielding 1.15% APY with a minimum deposit of $399 required.

To get a better idea of CD rates in this region you may want to compare this offer with the best CD rates in Pennslyvania or the top CD rates in Philadelphia.

Recent News for Hyperion Bank:

- In February of this year Hyperion Bank was held up and robbed at gun point by an unkown man standing around 5’6″ and as of February of this year, the criminal who robbed this bank was still at large. Read Full Story.

Prairie National Bank offers top short term CD Rates

Prairie National Bank, based out of Illinois, has a few short term CD rates that demolish the current national average for their respective durations. They also have a promotional 9 month CD and 15 month CD which are available for a limited time.

Prairie National Bank has just two locations in Illinois, one in Shelby County and the other in Effingham. You can stop by a bank or contact a rep via phone to discuss opening a deposit account.

Short Term CD Rates offered by Prairie National Bank:

Their promotional CD rates include a 9 month CD yielding 1.50% APY as well as a 15 month CD yielding 1.85% APY. Both of these offers come with a minimum deposit amount of $500.

To put some of the offers located in the table (above) in perspective. The national average for 3 month CD’s sits at roughly 0.30% APY. The national average for 6 month CD’s sits at roughly 0.80% APY. The national average for 12 month CD’s sits at roughly 1.17% APY and the national average for 3 year CD’s sits at roughly 1.98% APY.

About Prairie National Bank:

Prairie National Bank is a full service community bank.  Lending services include farm loans, business loans, consumer loans and home mortgage loans.  Checking services include free checking, NOW and Money Market accounts, business checking and the Shazam check card.  They also offer certificates of deposit, savings accounts and individual retirement accounts (IRA). Their deposit products are federally insured by the FDIC.

Bank of Kampsville offering exceptional CD rates

The Bank of Kampsville, based out of Pleasant Hill, Illinois, is currently offering some short term CD rates that are beating the national average by a fairly substantial margin. Unfortunately for most of us, these products will be off limits as the bank is a small regional bank that accepts local funds. However, if you do live in Illinois and are in the market for a short term CD, you may want to stop by one of their branches. They have 4 locations within the state of Illinois – Kampsville, Brussels, Pleasant Hill, and Hardin.

Current CD Rates offered by The Bank of Kampsville:
3 Month Certificate of Deposit               1.26
6 Month Certificate of Deposit 1.51 – current national average sits at just 0.80% APY
12 Month Certificate of Deposit 2.02 – current national average sits at just 1.17% APY
18 Month Certificate of Deposit              2.02
24 Month Certificate of Deposit              2.02
30 Month Certificate of Deposit             2.27
36 Month Certificate of Deposit 2.27 – current national average sits at 1.98% APY
48 Month Certificate of Deposit              2.52
60 Month Certificate of Deposit              3.03

Terms and Conditions:
- $1,000 minimum deposit required
- penalties for early withdrawal
- rates accurate as of March 5, 2010

The margin in which The Bank of Kampsville’s CD rates beat the national average tapers off a bit as the duration of the product increases. In other words, when compared to the national average you are receiving a much better offer if you opt for the short term products (6 month – 36 month) then you would if you signed up for a long term CD (4-5 years). Their 5 year CD rate is pretty much on par with the national average for that given duration.

If you live in the midwest and are in the market for a bank CD, you may want to compare The Bank of Kampsville’s CD rates with other CD rates in Illinois, CD rates in Missouri or CD rates in Oklahoma.

Here is a superb 12 month CD rate in Missouri!

We have just recieved an email from BankVibe.com reader Kristina who claims to have just opened a 12 month CD through the Bank of Grandin in Missouri and she informed us that she recieved a whopping yield of 2.31% APY. To put this offer in perspective, the national average sits at 1.17% APY.

The Bank of Grandin does not make their interest rates public, so we have not yet confirmed the accuracy of this rate. You must contact a rep to find out their current yields. We will update this post after we’ve confirmed this offer to be valid.

Bank of Grandin is a fairly small bank and has just 4 branches in Missouri. They can accept local deposits and they require a minimum deposit of $1,000. They also offer jumbo CDs with minimum deposits starting at $50,000.

Here are the details, terms and conditions of their certificates of deposit:

• Interest bearing accounts
• $1000 deposit required to open accoun, $50,000 min for jumbo CDs
• Available in a variety of terms (3 months to 3 years)
• Interest may be compounded, paid by check, or deposited to an account at our institution
• Penalty for early withdrawal
• Account will automatically renew at current interest rate

Bank of Grandin’s FDIC insurance (from the Bank of Grandin website):

The Bank of Grandin has chosen not to participate in the FDIC’s Transaction Account Guarantee Program. Customers of The Bank of Grandin with noninterest-bearing transaction accounts will continue to be insured through December 31, 2013 for up to $250,000 under the FDIC’s general deposit insurance rules.

Police and Fire Federal Credit Union offers top CD rates

Thanks to BankVibe.com reader Tim for submitting one of the highest yielding 5 year CD rates in the country. As of May 20, 2010, if you are eligible to join Police and Fire Federal Credit Union, you can lock in a 5 year CD at 4.0% APY. The minimum deposit required is just $500 and they offer this rate for both traditional 5 year CD’s and for IRA CDs.

Police and Fire Federal Credit Union has locations throughout Pennsylvania and can accept any active or retired Philadelphia police officer or firefighter and their family members. They also accept those employed by a select group of businesses and organizations in the Philadelphia region.

Current CD Rates offered through Police and Fire Federal Credit Union:

- 5 years 4.00% APY
- 4 years 3.50% APY
- 3 years 3.00% APY
- 30 months 2.50% APY
- 2 years 2.25% APY
- 18 months 1.50% APY
- 15 months 1.45% APY
- 1 year 1.40% APY
- 9 months 1.35% APY
- 6 months 1.25% APY
- 3 months 1.20% APY

Terms and Conditions:

- You will be paid the interest rate until first maturity.

- Compounding frequency: Unless otherwise paid, dividends will be compounded every month.

- Crediting frequency: Dividends will be credited to your account every month. Alternatively, you may choose to have dividends paid to you or to another account every month rather than credited to this account.

- Dividend period: For this account type, the dividend period is monthly.

Minimum balance requirements:
The minimum balance required to open this account is $500.00.
The minimum balance required to open the Jumbo Certificate is $50,000.00.

- Average daily balance computation method: Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.