CD Rates with Montauk remains competitive at 2.25% APY for 18-month certificate of deposit- Local NY offer
Posted on August 21st, 2009
The Montauk Credit Union still pushes for their top cd rates despite the drop in the current cd rates. The most attractive money in the bank deal is the 2.25% APY for their 18-month certificate of deposit.
The interest rates are better than most credit unions. They also offer the following:
2.00% 12-month
2.25% 18-month
2.50% 24-month
2.75% 36-month
3.25% 48-month
3.75% 60-month
The best cd rates for the credit union are accurate as of 15 August and may change any time. It will be a wise move to visit their website or call their customer service line so you can get the latest figures.
The Montauk Credit Union does not compound interest rates. All you earnings will be deposited into your Montauk savings account after each quarter.
The credit union follows an open chapter. This means that, practically, any one interested can join the group. This offering by the way is considered local only.
Some may find the application process a bit odd. You have to send a letter of intent to the office of the union and they will give you a go to deposit the funds to your account.
MCU operates an office along the 26th Street near 6th Avenue in New York. There is nothing to worry about though even if they have a small office, BauerFinancial and Bankrate.com gave 5 stars and 3 stars, respectively, when they reviewed the performance of the Montauk Credit Union.
MCU is also insured with the NCUA through charter number 63231.
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Tags: Apy, Cd Rates
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