Best 5 Year CD – Melrose Credit Union

For bigger growth of your savings, go for the best 5 year CD. Melrose Credit Union presently offers the highest rate for a 5 year CD, or in this case, share certificate. Compared to similar products from other financial institutions, yields on Melrose deposit accounts have consistently been some of the highest in the country.

Like all credit unions, Melrose Credit Union stresses service over profit, so members receive above average yields on deposit accounts. And the longer you keep your money in a certificate of deposit, the more your money will earn.

Currently, they have the best rate for a 5 year Share Certificate (otherwise known as CD) in the nation. Their 5 year Share Certificate has an interest rate of 3.25% with an APY of 3.29%. The required minimum deposit is $5000. Share certificate dividends are compounded quarterly. This rate was posted on March 31, 2010 and is still current and effective June 10, 2010.

CD rates may change without prior notice. The interest rate will be determined in the same manner as other share certificates, however, due to the compounding there will be an APY on share certificates which is different than the rate. Members can also have the option of having their quarterly dividend transferred to another share account.

Since Melrose Credit Union has an open New York State charter, there is no geographic or group affiliation field of membership restrictions. Regardless of where you live or how you earn a living, you may qualify for membership.

To become a member of Melrose Credit Union, you need to open a Share Savings Account with an initial deposit of $25.00 and pay a one-time membership fee of $1.00 ($2.00 for joint membership). Once this is done, you can enjoy all the benefits of their high-yield investments and low-rate loans.

Dividends will be paid to your Share Savings Account on a quarterly basis. Every deposit made at Melrose CU is federally insured by the NCUSIF for up to $250,000.

If you have been on the lookout for the best 5 year CD, Melrose Credit Union is currently holding the spot.

For additional resources about CD’s on this website about another state please view Best New Orleans CD Rates.

The Capital One Auto Loans is available on our sister website of onlinebanksblog.com. Also available on the sister site of bankcdratesonline.com is Best June CD Rates 2010.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember the bigger the risk, the larger the reward or loss. Invest with caution.

Posted : June 10th, 2010 by Douglas

Tags: bank cd rates, best 5 year CD, Best CD Rates, CD rates, investing, Melrose Credit Union, money

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Best CD Rates June 2010 | Best CD Rates Says:

[...] For additional resources about CDs on this website about another state, please view Best 5 Year CD – Melrose Credit Union. [...]

Best CD Rates June 2010 | Best CD Rates Says:

[...] For additional resources about CDs on this website about another state, please view Best 5 Year CD – Melrose Credit Union. [...]

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