Q:

How high are Melrose Credit Union's rates?

A:

Quick Answer

Melrose Credit Union offers competitive interest rates on certificates of deposit when compared to the U.S. national averages as reported by Bankrate. Yields on certificates of deposit at Melrose Credit Union were at least 1.26 percent, as of December 2015, compared with a national average one-year rate of 0.27 percent.

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Full Answer

Savers can choose longer term share certificates for the highest possible returns on their money. Melrose Credit Union offers 2.42 percent on a five-year CD, almost double the yield available on a one-year certificate.

Investors interested in interest-bearing checking or savings accounts are offered an APY of 0.25 to 0.50 percent, which is not as competitive as rates offered by other financial institutions. Synchrony Bank offers 1.05 percent interest on savings accounts, more than double what Melrose Credit Union offers.

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