Garden Savings Federal Credit Union has a good middle-term CD if you believe rates will be heading higher: Their 3-year “flex CD” has a rate of 1.96%. By “flex CD,” Garden Savings FCU means that if the rate goes up during the term, you can change the rate to set it higher one time. The CD seems like it has a minimum of $500, which Garden Savings’ normal CDs do, but it’s possible they have different policies for their flex CDs. Garden Savings FCU also has some competitive normal CDs:
- 3-year (normal) CD: 2.01% APY
- 4-year CD: 2.27% APY
- 5-year CD: 2.56% APY
The penalty for early withdrawal is a loss of 90 days dividends earned on any CD, which is pretty reasonable for longer-term CDs like these.
Garden Savings Federal Credit Union is open to anyone who lives, works, worships, volunteers or attends school in Newark, Elizabeth, or Jersey City. Garden Savings FCU has five locations, all in New Jersey: Montville, Morristown, Murray Hill, Newark, and Parsippany.
Sharonview Federal Credit Union has a competitive long-term CD available: a 5-year CD yielding 2.75% APY. This CD has only a $500 minimum. Sharonview FCU has a number of other competitive CDs available at various terms, but most of them require very large deposits. For example, with a $100,000 minimum, their 24-to-35 month CDs are yielding 2.00% APY, but if you reduce that to under a $10,000 deposit, the same CD goes way down to 1.25% APY. Still, some of their middle-term and longer-term CDs may be looking into if you’re planning to open a large or very large CD.
Sharonview Federal Credit Union is open to employees of 250 businesses, although the complete list isn’t on their website. Sharonview FCU has branches in four states, including four branches in New Jersey. All of the New Jersey branches are Bridgewater. Three branches are only open to Sanofi-Aventis employees, but one location (400 Somerset Corporate Blvd.) is open to the public.
- 2-year CD: 1.65% APY
- 30-month CD: 1.75% APY
- 3-year CD: 2.25% APY
- 50-month CD: 2.50% APY
The CDs all have a minimum of $500. The 50-month CD can also get a 0.25% rate bump if you have Clifton’s Crystal Checking Account, although that checking account has a hefty $20/month fee if the balance falls below $15,000, so it’s probably not an option most will be looking to take.
Clifton Savings Bank has 12 branches: five in Clifton, two in Garfield, and one each in Fairlawn, Lyndhurst, Wallington, Wayne, and Woodland Park.
- 18-month CDs: 1.75% APY
- 2-year CDs: 2.00% APY
- 3-year CDs: 2.50% APY
- 4-year CD: 2.75% APY
All the above CDs have minimum deposits of $500. Cross River also has a competitve “I Connect Select Savings” savings account: 1.00% APY for amounts above $10,000, and 1.50% APY for amounts over $50,000.
Cross River Bank has one location: 885 Teaneck Road in Teaneck.
- 3-year CD: 2.00% APY
- 4-year CD: 2.50% APY
- 5-year CD: 3.00% APY
These CDs all have a minimum deposit of $1000. Interestingly, the rate on their 7-year CD goes back down to 2.50% APY. Roma Bank’s savings accounts and money markets are relatively low, however, topping out at 0.65% APY.
Roma Bank has 24 branches, all of them in New Jersey: two branches each in Bordentown and Trenton and one branch each in Burlington, Cherry Hill, Columbus, Cream Ridge, Florence, Hamilton, Hopewell, Lawrenceville, Maple Shade, Marlton, Medford, Mercerville, Moorestown, Mount Laurel, Robbinsville, Vincentown, Voorhees, West Trenton, Whiting, and Yardville.
Aurora Bank has a couple relatively competitive short term CDs available: a 6-month CD that’s yielding 1.08% APY, and a 12-month CD that returns 1.26% APY. Both these CDs have minimum deposits of $1000. If you deposit $100,000 or more into either of these CDs, the rates do go up, but only very slightly: 1.10% APY for the 6-month and 1.27% for the 1-year. Aurora Bank does offer IRA CDs at those terms as well, but the rates are almost comically low—0.25% APY for the 1-year CD, and a measly 0.07% APY for the 6-month certificate. On the plus side, Aurora’s checking account does have a reasonable 0.84% APY on amounts over $10,000.
Aurora Bank has one location in New Jersey: 70 Hudson Street in Jersey City.
Greater Alliance Federal Credit Union has a competitive mid-term CD available: a 2-year CD that’s yielding 1.75% APY. The CD has a minimum deposit of $500, and it is available with the same APY and same minimum deposit as 3-year and 4-year certificates. If you choose to get the CD as an IRA CD, the APY on all the certificates goes up to 1.80% APY.
Membership in Greater Alliance Federal Credit Union is open to anyone who lives, works, worships, volunteers, attends school or does business in Bergen County or Passiac County. Greater Alliance FCU has two locations: 40 W. Century Rd. in Paramus and 359 Main St. in Hackensack.
- 1-year CD: 1.41% APY
- 2-year CD: 1.87% APY
- 3-year CD: 2.22% APY
- 5- year CD: 3.20% APY
These CDs have a minimum deposit of $50,000. The CDs are also available with minimum deposits of $10,000 and $20,000, but you’ll lose between 5 and 25 basis points off the higher-deposit APYs. The CDs are also available as IRA CDs.
South Jersey Federal Credit Union is open to anyone who lives, works, worships, goes to school, or does business in the Atlantic City, Bridgeton, Camden, Lawnside, Millville, Pleasantville, Salem, or Vineland communities. South Jersey FCU has locations in Camden, Deptford, Moorestown, Pleasantville, Vineland, and Voorhees.