Savings
Savings
Smart Savings Starts Here
When you bank with First New York, you get the credit union products, services, and rates you love with a dedicated team, working to help you reach your financial goals. Become a member by opening a First New York savings account.
Primary & Secondary Share Savings Accounts
Primary Share Savings Account
• $1 minimum balance
• No monthly service charges
• Unlimited depositing with withdrawing of funds
• Monthly e-statements
• Free access to My First New York
• Access all First New York member products and services
Unlock all of First New York’s products and services when you open a Primary Share Savings Account. Become a member today to open a savings account. Apply online, visit us in-branch, or contact us to get started.
Become a Member
Explore Features
Secondary Share Savings Account
• Earn dividends*
• Same free services and benefits as a Primary Share Account
• No minimum balance
• No monthly service fees
Open a First New York Secondary Share Savings Account to earn dividends. You get all the same benefits as our regular Primary Share Savings Account with the ability to earn dividends.
Explore Features
View Dividends
Compare Primary & Secondary Share Savings Account Features
| Savings Account Features | Primary | Secondary |
|---|---|---|
| No monthly service charges | ✓ | ✓ |
| Unlimited depositing and withdrawing of funds | ✓ | ✓ |
| Monthly e-statements | ✓ | ✓ |
| Free access to First New York online banking and mobile app | ✓ | ✓ |
| Access all First New York member products and services | ✓ | ✓ |
| $1 minimum balance | ✓ | No minimum |
| No minimum balance | - | ✓ |
| Earn dividends* | - | ✓ |
| No monthly service fees | - | ✓ |
| *Dividends compounded monthly. Minimum balance of $1 on primary share savings, only. Competitive rates are set monthly. Fees may reduce earnings on this account. | ||
Share Savings Rates
Share Certificates and IRAs
Share Certificates and IRAs
Earn More Savings
• $1 minimum balance
• A minimum of $500 needed to open and earn dividends
• 3 month to 5 year terms available
• Competitive dividend rates
• Rate at opening is in effect for the entire time
• Dividends are compounded and posted monthly
• Certificates automatically renews at maturity
• Dividends may be withdrawn at any time without penalty
• Your aggregate funds are insured by the NCUA to at least $250,000
• Penalty may be imposed for early withdrawal
With First New York’s competitive Share Certificate and IRA rates, you can find the perfect term and rate to meet your short- or long-term savings goals. To open a certificate, you can visit a branch or contact the Contact Center. To get an IRA, you can visit a branch.
Apply Now!
View Rates
Contact Center
View Share Certificates and IRAs Rates
| Term | Annual Percentage Yield* | Dividend Rate |
|---|---|---|
| 3 month | 3.25% | 3.20% |
| 5 month | 3.75% | 3.69% |
| 6 month | 3.25% | 3.20% |
| 9 month | 3.50% | 3.44% |
| 12 month | 0.15% | 0.15% |
| 15 month | 3.75% | 3.69% |
| 18 month | 0.25% | 0.25% |
| 24 month | 0.35% | 0.35% |
| 25 month | 3.80% | 3.74% |
| 30 month | 0.40% | 0.40% |
| 36 month | 0.50% | 0.50% |
| 48 month | 0.60% | 0.60% |
| 60 month | 0.70% | 0.70% |
| Annual Percentage Yield (APY) assumes principal and interest remain on deposit for the term of the Share Certificate. Dividends compounded monthly. Penalty may be imposed for early withdrawal. Fees could reduce earnings on the account. Rates set weekly. Offer good for the initial term only for 9, 15 and 25 month Share Certificates. 5 month Share Certificate does not automatically renew and is for new money deposits only. 9 month Share Certificate is automatically renewed for a 9 month term. 15 month Share Certificate is automatically renewed for a 12 month term. 25 month Share Certificate is automatically renewed for a 24 month term. All other Share Certificates are automatically renewed for same length as initial term. Minimum deposit $2500.00 on 5, 9, 15 and 25 month Share Certificates and $500 for all other terms. 3, 5, 9, 15 and 25 month term Share Certificates are not eligible for IRAs. The rate is determined based on the published rate for the Share Certificate, excluding Share Certificate Specials, that is closest to but not exceeding the term of the Share Certificate. Advertised rate and APY are offered at the credit union’s discretion and may change daily. | ||
Lucky Savers Share Certificate
This special Share Certificate at First New York Federal Credit Union helps you build your savings while giving you a chance to win monthly and quarterly cash prizes! Every $25 deposit (up to $250 per month) into this account gets you a chance to win — that’s up to 10 chances every month! Plus, all the money deposited into your Lucky Savers Share Certificate is still yours and helps to build your savings. It’s a win-win situation!
If you’re 18 years or older and are a First New York FCU member with accounts in good standing, you could be eligible to win these exclusive Lucky Savers prizes:
• Each $25 deposit gives you a chance to win a quarterly prize of up to $5,000
• Each $25 deposit gives you a chance to win a monthly prize of up to $100
To get started, request a 12-month Lucky Savers Share Certificate and make an opening deposit of $25. Your initial deposit is your first step to saving and is your first entry into the monthly and quarterly prize drawings. You can open a Lucky Savers Share Certificate at any of our convenient branch locations. Business, Trust, and employee accounts from any participating institution are not eligible to win prizes.
View Lucky Savers Share Certificate Rates
| Term | Annual Percentage Yield | Dividend Rate* |
|---|---|---|
| 12 month | 0.15% | 0.15% |
| *Prize period runs from October 1, 2024 until September 30, 2025. Business and trust accounts, as well as employee accounts from any participating institution, are not eligible to win prizes. An initial deposit of $25 is required to open and additional deposits can be made throughout the term. The initial deposit and all subsequent deposits mature 12 months after the date that the initial deposit was made. A penalty for early withdrawal may apply. The APY is subject to change without notice. Rates set weekly. Dividends compounded monthly. Official rules at www.savetowin.org. | ||
Unlock Your Full Potential by Comparing Our Share Certificates!
Use this calculator to compare two share certificate terms side by side.
Money Market & Premium Money Market
Money Market & Premium Money Market
Easy Access to More Savings
If you want the higher yield of a certificate, while maintaining the convenience of a savings account, our Money Market savings and Premium Money Market savings accounts give you a competitive market rate based on your balance, with immediate access to your funds. The higher your balance, the higher the dividends you earn. You can visit a branch or contact the Contact Center to open an account.
View Rates
Contact Center
Money Market
| Daily Balance | APY | Dividend Rate* |
|---|---|---|
| $50,000+ | 0.20% | 0.20% |
| $25,000 - $49,999.99 | 0.15% | 0.15% |
| $10,000 -$24,999.99 | 0.10% | 0.10% |
| $2,500 - $9,999.99 | 0.10% | 0.10% |
| *Dividends are compounded monthly. No minimum to open. $2,500 minimum balance must be maintained to earn dividends. Rates subject to change. Fees may reduce earnings on this account. | ||
Premium Money Market
| Daily Balance | APY | Dividend Rate* |
|---|---|---|
| $150,000+ | 0.30% | 0.30% |
| $75,000 - $149,999.99 | 0.25% | 0.25% |
| *Dividends compounded monthly. No minimum to open. $75,000 minimum balance must be maintained to earn dividends. Rates subject to change. Fees may reduce earnings on this account. |
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Business Membership Advantages
Member Business Share Savings Accounts
Establish Your Membership
• Night drop facility available for next day business day processing of deposits
• Purchase money orders and cashiers checks at any branch
• Wire transfer services available
• Payroll deductions available
You can establish your business membership with as little as a $1 Share Savings Account at First New York FCU! For more information on Business Services, please contact Clifford Carignan, Vice President of Lending.
Call Now
Business Share Certificate Accounts
Lock In Your Rate
• Earn a high dividend rate with as little as a $500 minimum deposit
• 3 month to 5 year flexible terms
• Penalty may be imposed for early withdrawal
Lock in a fixed interest rate for a specified period of time and earn the highest rate of return on your investments. For more information on Business Services, please contact Clifford Carignan, Vice President of Lending.
Call Now
Business Money Market Accounts
Earn More on High Balances
• Higher yield of a certificate with the convenience of a savings account
• Tiered rate based on your balance
• Dividends compound monthly
• No minimum to open
• $2,500 minimum balance must be maintained to earn dividends
• Free online access with online banking
• Free online check images
Maintain the liquidity of your funds and earn more on high balances with our Business Money Market account. For more information on Business Services, please contact Clifford Carignan, Vice President of Lending.
Call Now
Business Premium Money Market Accounts
• Higher yield of a certificate with the convenience of a savings account
• Tiered rate based on your balance
• Higher yield of a certificate with the convenience of a savings account
• Tiered rate based on your balance
• Dividends compound monthly
• No minimum to open
• $75,500 minimum balance must be maintained to earn dividends
• Free online access with online banking
• Free online check images
With our Business Premium Money Market Account, you’ll maintain the liquidity of your funds and earn more on higher balances with our Business Premium Money Market account. For more information on Business Services, please contact Clifford Carignan, Vice President of Lending.
Call Now
†Dividends compounded monthly. Minimum balance of $1 on primary share savings, only. Competitive rates are set monthly. Fees may reduce earnings on this account.
Share Savings: *Minimum balance of $1 on Primary Share Savings only. Fees may reduce earnings. Rates set monthly. Dividends compounded monthly.
Share Certificates and IRA Rates: *Annual Percentage Yield (APY) assumes principal and interest remain on deposit for the term of the certificate. Dividends compounded monthly. Penalty may be imposed for early withdrawal. Fees could reduce earnings on the account. Minimum balance $500 on Share Certificates. Minimum balance $250 on IRA Certificates. Rates set weekly. All certificate terms are eligible for IRAs (except the 3, 5, 15 and 25 month). Certificate is automatically renewed for same length as initial term. All Share Certificate Specials Exclude IRAs. ***Certificate is automatically renewed for same length as initial term.
Share Certificate Specials: *Annual Percentage Yield (APY) assumes principal and interest remain on deposit for the term of the certificate. Dividends compounded monthly. Penalty may be imposed for early withdrawal. Fees could reduce earnings on the account. Minimum balance $500 on Share Certificates. Minimum balance $250 on IRA Certificates. Rates set weekly. All certificate terms are eligible for IRAs (except the 3, 5, 15 and 25 month). Share Certificate is automatically renewed for same length as initial term. Minimum deposit $2500.00 on all Share Certificate Specials. All Share Certificate Specials Exclude IRAs. ** Offer good for the initial term only. 15 month Share Certificate is automatically renewed for a 12 month term. 25 month Share Certificate is automatically renewed for a 24 month term. ***5 month Share Certificate does not automatically renew and is for new money deposits only. The rate is determined based on the published rate for the Share Certificate, excluding Share Certificate Specials, that is closest to but not exceeding the term of the Share Certificate. Advertised rate and APY are offered at the credit union’s discretion and may change daily. All Share Certificate Specials Exclude IRAs.
Lucky Savers Share Certificate: *Prize period runs from October 1, 2022 until September 30, 2023. Business and trust accounts, as well as employee accounts from any participating institution, are not eligible to win prizes. An initial deposit of $25 is required to open and additional deposits can be made throughout the term. The initial deposit and all subsequent deposits mature 12 months after the date that the initial deposit was made. A penalty for early withdrawal may apply. The APY is subject to change without notice. Rates set weekly. Dividends compounded monthly. Official rules at www.savetowin.org.