New York Bank Rates Versus Credit Union Rates

Both community banks and credit unions are said to offer higher rates than larger chain and national banks, but when it comes down to the two, which is better? Anyone interested in earning the highest New York bank rates should know if there’s a credit union nearby that has even better offers.

Below is a look at the highest interest rates across a variety of accounts from both banks and credit unions in New York:

6-Month CD Rates

Bank: Eastbank, National Association: 1.01% APY
Credit Union: Suma Yonkers Credit Union: 1.51% APY

12-Month CD Rates

Bank: Alma Bank: 1.35% APY
Credit Union: Suma Yonkers Credit Union: 1.77% APY

24-Month CD Rates

Bank: The Bank of Princeton: 1.75% APY
Credit Union: Suma Yonkers Credit Union: 2.02% APY

Savings Account Interest Rates

Bank: Maspeth Federal Savings: 1.05% APY
Credit Union: Merck Employees Federal Credit Union: 1.64% APY

The above interest rates are accurate as of May 26, 2011 but are subject to change at any time in the future.