Melrose CU CD Rates

If you are looking for a credit union that is dependable and offers you the products and services that you need then open the door of the Melrose Credit Union (CU) and walk in! The friendly staff is waiting to serve you.

If you are looking for a credit union that is dependable and offers you the products and services that you need then open the door of the Melrose Credit Union (CU) and walk in! The friendly staff is waiting to serve you.

The Melrose CU got its start in 1922. It was originally started in order to provide individuals and small business owners from the Bronx, New York with the financial resources they required. Over time the Melrose Credit Union branched out and expanded. Today it boosts over 20,000 members not just in the state of New York but across the country as well as across the globe. To its credit the Melrose CU has been ranked as “one of the most successful financial institutions in the United States.”

A certificate of deposit opened through the Melrose Credit Union is a smart way to save your money for an allotted period of time. The Melrose CU CD rates are worth taking a closer look at if you are contemplating opening such an account. The share certificates offered by the credit union require an opening minimum deposit of $5,000. The terms you can choose from are one year, two years, three years, four years or five years. Share certificate dividends are compounded on a quarterly basis. It is important before you choose your CD to be aware of the fact that the longer a term you choose the more interest your certificate will have the potential to earn for you.

If you wish to open a CD account at Melrose CU you first must become a member of the credit union. To become a member you are required to open a share savings account. You then must make an initial deposit of $25.00 and pay a one-time membership fee of $1.00 (or $2.00 if the membership is a joint one). Once you do those things then you can enjoy all of the benefits that go along with being a part of the Melrose CU community. You can explore the options available to you when it comes to certificates of deposit (CDs) and you can also explore the other types of high-yield investments that the financial institution makes available to its many customers.

The dividends earned will be paid to your share savings account quarterly. Rest assured that the money that you keep in this account as well as your CD account is completely safe. The National Credit Union Share Insurance Fund (NCUSIF) ensures each depositor up to the amount of $250,000.

To see the latest Melrose CU CD rates visit the website at http://www.melrosecu.org/.