The best Buffalo, New York CD Rates are following the national trend of being from credit unions for local financial institutions. The Buffalo Metropolitan Credit Union (BMCU) has the best APY for a 2 year shared certificate. The shared certificate from a CU is the same kind of term deposit account as a CD is from a bank.
To become a member of the BMCU all a person has to do is live, study, go to work or worship in the county of Erie NY. They have a 5 year SC with an APY of 2.80%. The 4 year SC has an APY of 2.45%. The 3 year SC has an APY of 2.00%. The 2 year SC has an APY of 1.75%. The 18 month SC has an APY of 1.50%. The 1 year SC has an APY of 1.25% and the 6 month SC has an APY of 1.00%. The minimum deposit is $500 and the rates were posted on June 25, 2010.
The Greater Woodlawn Federal Credit Union has the second best rates for a local financial institution. They have a 3 year SC with an APY of 2.00%. The 2 year SC has an APY of 1.65%.
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These Rochester, New York CD rates are from the only 3 local community banks located in the city. There are 127 bank branch offices is Rochester, but most of them are with nationwide financial institutions like Bank of America, Ally, Chase Bank, and HSBC Bank USA, to name a few.
The bank CD rates from the local institutions are from Canandaigua National B&TC, Genesee Regional Bank, and Upstate National Bank.
The Genesee Regional Bank has a 60 month CD with an APY of 2.10%. The 48 month CD has an APY of 1.85%. The 36 month CD has an APY of 1.60%. The 24 month CD has an APY of 1.20%. The 18 month CD has an APY of 1.10%. The 17 month special CD has an APY of 1.25%. The 12 month CD has an APY of 0.90%. The 6 month CD has an APY of 0.40%. The 7 days to 5 month CD has an APY of 0.25%. Each of these requires a minimum of $500 to open an account and the rates were posted on December 15, 2009 and were still current as of July 15, 2010.
The Canandaigua National B&TC has two promotional CDs.
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