The Melrose Credit Union still offer some pretty high CD rates, despite recent rate drops. The best CD rates include: 3.03% APY for 1 year, 3.19% for 2 year, 3.34% for 3 year, and 3.49% for 4 year.

A minimum of $5,000 is required to open a CD. IRA CDs are also available for $4,000.

Melrose Credit Union also offers Jumbo CDs with rates that are .25% higher than the regular rates at the same term.

Early withdrawal penalties appear to be 90 days of earnings for certificate of deposits for the 12 month deal. CDs which have longer than 12 months term will be deducted with 180 days of penalty.

The Melrose Credit Union welcomes individuals from any state who would like to sign up for membership. They can do this since they have an open NY State charter which does not restrict the affiliations by geography or group association.

The union has offices in Queens, New York specifically in Briarwood. Melrose Credit Union is NCUA insured.