Municipal Credit Union CD Rates

Municipal Credit Union, based out of New York City, New York, is the 18th largest credit union in the country in terms of membership (roughly 300,000 members).

MCU has been serving the financial needs of hard working people since opening for business in 1916. They were originally chartered as an outgrowth of concern of then New York City Mayor, John Purroy Mitchel who wanted city employees to have a way to save at reasonable rates and a low cost borrowing alternative to loan sharks.

They started out with one branch in the Municipal building using handwritten ledger entries. Today they offer online transactions and loan applications at the speed of the internet, eight full service branches, and access to funds 24/7 at their large network of MCU ATMs.

Its deposit accounts offer dividends with decent interest rates. You can open a certificate of deposit account ranging from 3 months to 3 years and earn the following interest rates:

- 3 month Certificate will provide an interest rate of 0.55% APY with a minimum deposit of $500 required.

- 6 month Certificate will provide an interest rate of 0.65% APY with a minimum deposit of $500 required.

- 9 month Certificate will provide an interest rate of 0.75% APY with a minimum deposit of $500 required.

- 12 month Certificate will provide an interest rate of 1.20% APY with a minimum deposit of $500 required.

- 24 month Certificate will provide an interest rate of 1.65% APY with a minimum deposit of $500 required.

- 30 month Certificate will provide an interest rate of 1.65% APY with a minimum deposit of $500 required.

- 36 month Certificate will provide an interest rate of 1.90% APY with a minimum deposit of $500 required.

Features:
@ The above rates have been noted as on March 11, 2010.
@ Penalties apply for early withdrawals.
@ Your funds are insured by NCUA up to $250,000.

A minimum deposit of $500 is required for the CD accounts.

Contact Info:

Phone: (800) 323-6713

Website: www.nymcu.org

address:

Municipal Credit Union
P.O. Box 3205
Church Street Station
New York City NY 10007