This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

5-Year CD Rates in Greater Buffalo Region Lower Than National Average

NEW YORK - RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST), reported today that national averages for CD rates of all durations this week remained unchanged as the Federal Reserve continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.

"National averages of CD rates generally were unchanged as investors await further insight into the Federal Reserve's thinking on interest rates at an annual Aug. 21 gathering in Wyoming hosted by the Federal Reserve Bank of Kansas City," reported Antoine Gara, reporter for TheStreet. "The Fed, while it continues to reduce its monthly bond purchases in the face of a strengthening U.S. economy, continues to see significant underutilization in the labor market, indicating rates won't change for a considerable time after the end of its economic stimulus program."

NATIONAL AVERAGE RESULTS - $10K

Avg Rate This week Avg Rate Last week
Money Market 0.15% 0.15%
1 month CD 0.11% 0.11%
3 month CD 0.15% 0.15%
6 month CD 0.23% 0.23%
1 year CD 0.36% 0.36%
2 year CD 0.55% 0.55%
3 year CD 0.75% 0.75%
4 year CD 0.93% 0.93%
5 year CD 1.15% 1.15%

In the Greater Buffalo Region area, the average 5-year CD rate sat at 0.71%, lower than the national average of 1.15%. Rates on the 5-year CD ranged from 0.1% on the low end to 1.55% at the high end, which can be found at Five Star Bank. The average 3-year CD rate in Greater Buffalo Region was 0.4% with a range of 0.1% to 0.75% found at Five Star Bank. And if you are on the market for a 1-year CD, take a look at Five Star Bank, which currently offers a rate of 0.25% as compared to the Greater Buffalo Region average of 0.19%. Other top rate issuers can be found in the tables that follow.

GREATER BUFFALO REGION AVERAGE RESULTS - $10K

Avg Rate This
week
Highest Available
Rate
Highest Available Rate Issuer
Money Market 0.08% 0.15% Northwest Savings Bank
1 month CD 0.06% 0.1% KeyBank National Association
3 month CD 0.07% 0.1% Northwest Savings Bank
6 month CD 0.1% 0.15% Northwest Savings Bank
1 year CD 0.19% 0.25% Five Star Bank
2 year CD 0.29% 0.45% Five Star Bank
3 year CD 0.4% 0.75% Five Star Bank
4 year CD 0.54% 1.15% Five Star Bank
5 year CD 0.71% 1.55% Five Star Bank

TOP RATE ISSUERS - $10K





This is a list of issuers with top interest rates in the Greater Buffalo Region area. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed.
Money Market Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Northwest Savings Bank
716-854-2265
www.northwestsavingsbank.com
B 5000 0.15
First Niagara Bank, National Association
716-447-9048
www.fnfg.com
C 5000 0.1
Community Bank, National Association
800-975-4722
www.communitybankna.com
B 10000 0.05
Woodforest National Bank
716-297-7636
www.woodforest.com
A- 1 0.05
KeyBank National Association
716-847-7726
www.key.com
B 10000 0.05
1 Month CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
KeyBank National Association
716-847-7726
www.key.com
B 10000 0.1
Northwest Savings Bank
716-854-2265
www.northwestsavingsbank.com
B 2500 0.05
First Niagara Bank, National Association
716-447-9048
www.fnfg.com
C 500 0.05
Woodforest National Bank
716-297-7636
www.woodforest.com
A- 500 0.05
Manufacturers & Traders Trust Company
716-842-4200
www.mtb.com
C 1000 0.05
3 Month CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
KeyBank National Association
716-847-7726
www.key.com
B 10000 0.1
Northwest Savings Bank
716-854-2265
www.northwestsavingsbank.com
B 2500 0.1
Five Star Bank
716-655-8248
www.five-starbank.com
B 10000 0.1
First Niagara Bank, National Association
716-447-9048
www.fnfg.com
C 500 0.05
Woodforest National Bank
716-297-7636
www.woodforest.com
A- 500 0.05
6 Month CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Northwest Savings Bank
716-854-2265
www.northwestsavingsbank.com
B 500 0.15
KeyBank National Association
716-847-7726
www.key.com
B 10000 0.1
Five Star Bank
716-655-8248
www.five-starbank.com
B 10000 0.1
Community Bank, National Association
800-975-4722
www.communitybankna.com
B 1000 0.08
First Niagara Bank, National Association
716-447-9048
www.fnfg.com
C 500 0.05
1 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Five Star Bank
716-655-8248
www.five-starbank.com
B 10000 0.25
Northwest Savings Bank
716-854-2265
www.northwestsavingsbank.com
B 500 0.2
Woodforest National Bank
716-297-7636
www.woodforest.com
A- 500 0.15
KeyBank National Association
716-847-7726
www.key.com
B 10000 0.1
Community Bank, National Association
800-975-4722
www.communitybankna.com
B 1000 0.1
2 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Five Star Bank
716-655-8248
www.five-starbank.com
B 10000 0.45
Northwest Savings Bank
716-854-2265
www.northwestsavingsbank.com
B 500 0.3
Woodforest National Bank
716-297-7636
www.woodforest.com
A- 500 0.25
Community Bank, National Association
800-975-4722
www.communitybankna.com
B 1000 0.2
KeyBank National Association
716-847-7726
www.key.com
B 10000 0.15
3 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Five Star Bank
716-655-8248
www.five-starbank.com
B 10000 0.75
Community Bank, National Association
800-975-4722
www.communitybankna.com
B 1000 0.501
Northwest Savings Bank
716-854-2265
www.northwestsavingsbank.com
B 500 0.45
Woodforest National Bank
716-297-7636
www.woodforest.com
A- 500 0.25
KeyBank National Association
716-847-7726
www.key.com
B 10000 0.2
4 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Five Star Bank
716-655-8248
www.five-starbank.com
B 10000 1.15
Northwest Savings Bank
716-854-2265
www.northwestsavingsbank.com
B 500 0.6
Community Bank, National Association
800-975-4722
www.communitybankna.com
B 1000 0.552
Woodforest National Bank
716-297-7636
www.woodforest.com
A- 500 0.5
Manufacturers & Traders Trust Company
716-842-4200
www.mtb.com
C 1000 0.351
5 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Five Star Bank
716-655-8248
www.five-starbank.com
B 10000 1.55
Community Bank, National Association
800-975-4722
www.communitybankna.com
B 1000 0.803
Northwest Savings Bank
716-854-2265
www.northwestsavingsbank.com
B 500 0.75
Woodforest National Bank
716-297-7636
www.woodforest.com
A- 500 0.75
Manufacturers & Traders Trust Company
716-842-4200
www.mtb.com
C 1000 0.552

Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 96,000 financial institution locations across the United States.

More About CDs:

CDs, or certificate of deposits, are bank-issued promissory notes wherein an investor deposits money for a set amount of time and, provided the money remains untouched, receives interest on the total sum when the investment matures.

While the money can't be accessed during that time (without incurring penalties), the advantage of a CD over a regular savings deposit is the higher rate of interest. Typically, a CD can be taken out on as few as three-month terms but can range to up to five years; generally, the longer the timeframe the higher rate of interest.

CD Laddering:

To provide further financial security, a CD laddering strategy offers conservative investors the opportunity to stagger their capital across numerous deposits set to expire at different intervals. Not only does this hedge against variable rate fluctuations by offering a guaranteed return at a locked-in interest rate, it also increases liquidity given that one CD will mature at predictable and established intervals.

Using an example of a five-year ladder strategy, an investor would divide his or her money amongst one-, two-, three-, four-, and five-year CDs. Once the one-year deposit matures, he or she will reinvest the money into a five-year CD, and will do so every subsequent year upon each CD's maturation. In this way, the investor has a CD that matures each year and thus, steady income from the interest on the maturing investments.

Nevertheless, investors must keep in mind that the onus of developing a ladder strategy is on the investor, not the bank or financial institution. In developing a strategy, map out each rung of the ladder, determining how long you want to invest for, the kind of return you are targeting and the length of time you can tolerate not having access to the principal and interest.

About RateWatch

For over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States. Consistently providing top quality, highly relevant data RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 96,000 locations. Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available. To learn more about RateWatch, visit www.rate-watch.com. RateWatch is a division of TheStreet, Inc.

National average is calculated using one unique rate per institution. Averages are based on banks, savings & loans, brokers and Internet banks with assets greater than $1 billion.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,881.15 +53.40 0.30%
S&P 500 2,070.83 -2.00 -0.10%
NASDAQ 4,796.2450 +8.9280 0.19%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs