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Melrose Credit Union Review – CD Rates

Melrose Credit Union located in the Bronx, New York – is a federally insured credit union. The rates at Melrose Credit Union are all based on APY (annual percentage yield) and are subject to change.

Review: Melrose Credit Union, by its own claim, is one of the most successful banking institutions today. Services include an arry of deposit accounts: savings, CDs, IRA, E-Z Checking. They also offer loans and mortgages: Auto Loans, Personal Loans, Share Secured, SBA Loans Calculators, Fixed and Adjustable Rate Mortgages, Second Home Mortgages, Jumbo Mortgages, No Income Check Mortgages, Commercial Mortgages, Home Equity Lines of Credit, E-Z Mortgage Center.

Today that community commitment has helped transform Melrose into an over $1 billion credit union with over 20,000 members residing across the country and around the world. Melrose Credit Union currently ranks as one of the most successful financial institutions in the United States.

Melrose Credit Union Account Rates

  • Share Account – 0.75% APY
  • EZ Checking* – 0.25% APY
  • IRA Account – 0.75% APY

Share Certificates ( Certificate of Deposit) and IRA Certificates Rates

  • 1 Year CD yields 1.41% APY
  • 2 Year CD yields 1.66% APY
  • 3 Year CD yields 2.17% APY
  • 4 Year CD yields 2.42% APY
  • 5 Year CD yields 2.93% APY

Certificate Rates for Financial Institutions

  • 1 Year CD yields .90% APY
  • 2 Year CD yields 1.15% APY
  • 3 Year CD yields 1.66% APY
  • 4 Year CD yields 1.91% APY
  • 5 Year CD yields 2.42% APY

Terms of Melrose Credit Union:

The minimum purchase for Share Certificates is $5,000. The minimum purchase for IRA Share Certificates is $4,000.  All Member Accounts Insured To At Least $250,000 By NCUA.

It seems that anybody can take advantage of these CD Rates:

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

There is a $1.00 one time membership fee and a minimum opening deposit of $25.00. Individuals must provide:

  • Valid Photo ID (Driver’s License, Non-Driver ID, Passport)
  • Proof of Address (Utility Bill)
  • Social Security Number
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