Fredonia, New York Savings Rates - September 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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The best savings rates for Fredonia, New York and the surrounding area include Western Division Federal Credit UnionWestern Division Federal Credit Union264 E MAIN ST, FREDONIA, NY 14063 1412A+5.0 ★Texas Ratio: 0.52%Real return: +1.14%APY minus 2.8% CPI (February 2026) Savings & IRA at 3.94% APY, Lake Shore Savings BankLake Shore Savings Bank30 E Main St, Fredonia, NY 14063A+5.0 ★Texas Ratio: 1.23%Real return: +0.70%APY minus 2.8% CPI (February 2026) Savings at 3.50% APY, SUNY Fredonia Federal Credit UnionSUNY Fredonia Federal Credit Union280 CENTRAL AVE, FREDONIA, NY 14063 1127A+5.0 ★Texas Ratio: 0.58%Real return: -1.20%APY minus 2.8% CPI (February 2026) IRA Share at 1.60% APY, Inner Lakes Federal Credit UnionInner Lakes Federal Credit Union3795 Lakeview Rd, Fredonia, NY 14063 1972A+5.0 ★Texas Ratio: 1.87%Real return: -2.15%APY minus 2.8% CPI (February 2026) Regular Savings at 0.65% APY, and Woodforest National BankWoodforest National Bank10401 Bennett Rd, Fredonia, NY 14063A-5.0 ★Texas Ratio: 14.96%Real return: -2.45%APY minus 2.8% CPI (February 2026) Savings Account at 0.35% APY.
Fredonia has 15 local institutions in our database, with savings rates as high as 3.94% APY from Western Division Federal Credit Union at 264 E MAIN ST, FREDONIA, NY 14063 1412. Use the table below to compare all available offers, including options from institutions serving the broader New York area. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Fredonia, New York and the surrounding area. Last Updated and Verified: September 10, 2026
Compare the Best Savings Rates in Fredonia, New York & Surrounding Communities
# New Money
Savings rates as high as 3.50 See below for details.
As High As
The interest rate is variable and may change after the account is opened. Fees could reduce earnings on the account. Transaction Limits Limited
Monthly service charges and/or excessive withdrawal fees may reduce earnings. Interest rate is variable and may change after the account is opened. Ask a Woodforest Retail Banker for minimum opening deposits.
Minimum $5
The interest rate is variable and may change after the account is opened. Fees could reduce earnings on the account. Transaction Limits Limited
Monthly service charges and/or excessive withdrawal fees may reduce earnings. Interest rate is variable and may change after the account is opened. Ask a Woodforest Retail Banker for minimum opening deposits.
Minimum $5
Promotional rate on balances up to $10,000.00. Balances in excess of $10,000.00 will earn dividends at the Credit Union's regular Money Market rate.
Youth Savings available to members under the age of 21 years old and earns 5.00% APY up to $1,000 deposited, Regular Share Savings rate for balances thereafter; at 21, Youth Savings converts to a Regular Share Savings account.
on the first $1,000 on deposit
Balance for APY is blended and may range from 0.05% to 5.00%. Balance of $1-$500 earns 5.00% APY; balances over $500 earn 0.05% APY. Fees may reduce earnings. Gift is awarded when account is opened. We reserve the right to substitute a gift of similar value.
Balance for APY is blended and may range from 0.05% to 5.00%. Balance of $1-$500 earns 5.00% APY; balances over $500 earn 0.05% APY. Fees may reduce earnings. Gift is awarded when account is opened. We reserve the right to substitute a gift of similar value.
Balance for APY is blended and may range from 0.05% to 5.00%. Balance of $1-$500 earns 5.00% APY; balances over $500 earn 0.05% APY. Fees may reduce earnings. Gift is awarded when account is opened. We reserve the right to substitute a gift of similar value.
Balance for APY is blended and may range from 0.05% to 5.00%. Balance of $1-$500 earns 5.00% APY; balances over $500 earn 0.05% APY. Fees may reduce earnings. Gift is awarded when account is opened. We reserve the right to substitute a gift of similar value.
Balances <= $3,000.00
Qualifying balance up to $1,000.00
Balances over $500 will earn the current savings APY. Variable rate accounts rates and terms are subject to change without notice. Available for children 16 and under. Island Federal will contribute the first dollar to open the account.
Age: 16 and Under
APY on balances up to $1,000
UP TO AGE 21
10 times higher than our savings account
These rates are blended for balances over $1,000. For example, if a member has $1,000 in savings they would receive dividends at the 5.00% APY rate on the first $1,000 in funds, then dividends at the 0.20% rate on any balances between $1,000.01 and $5,000.00, and then dividends at the 0.15% rate on any balances over $5,000. Rates may change after the account is open. Fees incurred may reduce earnings on the account. Limit one NEXT eSavings account per social security number. You must have an open and active NEXT rewards Checking account. Rates accurate as of June 1, 2023.
Qualifying balance up to $1,000.00
Due to exceptional demand, we have created a waiting list for our Personal High Yield Savings accounts while maintaining the rate structure and service to our thousands of existing, satisfied savings clients. We look forward to servicing your needs. We would welcome and appreciate the opportunity to call you in the future, show you the Newtek Advantage, and service all your savings and depository needs.
Rate subject to change after account opening. For new accounts. Fees may reduce earnings. Available in eligible markets only.
Exclusive online
Boosted Rate; Base Rate
When linked to a Kasasa checking account
Earn 0.500% APY* on balances over $25,000
Earn 4.00% APY on balances of $10,000 and over. No account fees when you stay enrolled in eStatements. Federally insured deposits. Your savings are insured up to $250,000 per person.
Promotional Rate. Balances at or below $9,999.99 do not qualify for this promotional rate and are subject to the current non-promotional interest rate applicable to this account type. At the end of the 180-day promotional period, the interest rate and APY will revert to the then-posted non-promotional rate(s) applicable to this account type. The interest rate(s) and annual percentage yield(s) are variable and may change at any time before or after the account is opened. To qualify, you must be a new personal savings client of Flagstar Bank and open a Flagstar Ready Savings account. You must deposit additional funds, to maintain a balance greater than or equal to $10,000 is required and must be "new money," which is defined as money that is not currently on deposit in any Flagstar Bank account; money moved from any Flagstar Bank affiliate or subsidiary account or funded from a Flagstar/affiliate loan or line of credit does not qualify. For purposes of this offer, funds from maturing certificate of deposit accounts held at Flagstar Bank will be considered eligible. The account must remain open for the full 180-day promotional period. This offer is limited to one promotion per household. If any signer on this account has previously received a savings promotion from Flagstar Bank, you are ineligible for this offer. This offer cannot be combined with any other offers or promotions. An early account closure fee may be imposed for accounts closed within 180 days. Offer subject to change or cancellation at any time without notice. Receiving this offer does not guarantee eligibility. All account applications are subject to our normal approval process. Personal accounts only. Area restrictions may apply.
Minimum Average Daily Balance to earn APY: $100 to $999,999.99
Simple Banking Program
Retirement Savings - Interest Compounded Monthly
Qualifications Required: 1 ACH direct deposit transaction per monthly qualification cycle; at least 4 debit card transactions per monthly qualification cycle; $5,000 average daily balance; Enrollment in electronic services (i.e., online banking, e-statements) and log-ons are required to meet qualifications.; When your Max Cash or Max Cash Back qualifications are met.
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Fredonia, NY Savings Rate Trends
Compare local Fredonia, NY savings rate quotes against the statewide average
Daily savings rate averages tracked across our database of 8,500+ banks and credit unions, updated every evening.
New York high-yield savings rates rose 0.404 points over the past 7 days to 1.980% APY, up from 1.575%.
New York standard savings rates fell 0.239 points over the past 7 days to 0.814% APY, down from 1.053%.
Fredonia, New York Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current NY high-yield average and a Fed funds spread to project the likely rate trajectory for 2026–2027.
Savings account rates are variable and move in close correlation with the Federal Reserve’s federal funds rate target. Our 12-month forecast is derived from the current NY high-yield savings average of 1.980% APY and a Fed funds spread model calibrated to the historical relationship between policy rate changes and deposit rate adjustments at banks and credit unions.
Key assumptions: the Federal Reserve holds the federal funds rate at its current level over the next 12 months, with the possibility of one 25 basis point increase; deposit rates at banks and credit unions track policy-rate changes within 60–90 days. High-yield online savings rates tend to adjust faster than standard branch-based savings rates.
Important notice: This forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions in Fredonia, New York.
Savings Account Earnings in Fredonia, New York
Annual interest earnings at current NY average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (1.980% APY) | Monthly Earnings | Standard Savings (0.814% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $98.98 / year | $8.25 | $40.69 / year | $3.39 |
| $10,000 | $197.95 / year | $16.50 | $81.38 / year | $6.78 |
| $25,000 | $494.88 / year | $41.24 | $203.45 / year | $16.95 |
| $50,000 | $989.75 / year | $82.48 | $406.90 / year | $33.91 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, and daily balance maintained. Rates are variable and subject to change. Source: Fredonia, New York savings rate averages as of September 10, 2026. | ||||
About Our Fredonia, New York Savings Rate Database
MonitorBankRates found 5 institutions with branches in Fredonia (2 banks, 3 credit unions), plus 31 additional state-chartered and national online institutions available to Fredonia residents. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website, no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1–5), and Texas Ratio, objective financial health metrics calculated from FDIC and NCUA regulatory data, so you can compare yield and institutional safety in one place.
Current top rate: Western Division Federal Credit Union offers a savings account at 3.94% APY with a minimum deposit of $5,000. Use the rate table above to compare all current offers in Fredonia, New York.
How to Find the Best Savings Rates in Fredonia, New York
What to compare when shopping for a savings account in Fredonia, New York
To find the best savings APYs in Fredonia, New York, start with credit unions and online-only banks: Fredonia, New York has 19 credit unions in our database, and they consistently offer some of the highest yields because they are member-owned nonprofits with lower overhead than traditional banks.
Always compare the APY (Annual Percentage Yield), not just the interest rate. APY reflects compounding and is the true measure of what you’ll earn. Savings accounts that compound daily earn slightly more than those compounding monthly at the same stated rate. The current NY high-yield savings average is 1.980% but top local institutions are offering as high as 3.94%, so shopping around pays off.
Unlike a CD, savings account rates are variable. Your rate can change at any time with Federal Reserve policy. Many institutions offer elevated introductory rates that reset after a promotional period. Review your account periodically to ensure your APY remains competitive.
When a High-Yield Savings Account Makes Sense
- Emergency fund: Financial experts recommend 3–6 months of expenses in a liquid, FDIC-insured account. Fredonia, New York high-yield savings rates currently average 1.980% APY, far above a typical checking account.
- Short-term savings goals (6–24 months): If you may need the money soon, a savings account gives you immediate access without early withdrawal penalties.
- Parking cash between investments: A high-yield savings account at Fredonia, New York institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 36 institutions in Fredonia, New York report savings rates to our database.
- You’re among Fredonia, New York’s 19.9% of residents aged 65+ for whom liquid, accessible savings complement fixed-income holdings.
- No rate lock-in risk: Unlike a CD, your rate moves up with the market if rates rise further.
Consider an Alternative If…
- You want a locked-in, guaranteed return → Fredonia, New York CD rates
- You want check-writing flexibility → Fredonia, New York money market rates
- You need daily transaction access → Fredonia, New York checking rates
Fredonia, New York Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
19.9% of residents are 65 or older, in line with the national average of 17.3%. At today’s NY high-yield savings average of 1.980%, saving 10% of the local median salary ($1,940/year) would earn an additional $38 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Fredonia, New York Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Fredonia, New York.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current NY Avg APY | 1.980% | 0.814% | View MMA Rates | View CD Rates |
| Rate Type | Variable | Variable | Variable | Fixed for term |
| FDIC / NCUA Insured | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K |
| Withdraw Anytime | ✓ Yes | ✓ Yes | ✓ Yes | ✗ Penalty applies |
| Check Writing | ✗ No | ✗ No | ✓ Often yes | ✗ No |
| Debit / ATM Card | Some institutions | ✗ Rarely | ✓ Often yes | ✗ No |
| Typical Min Deposit | $0 – $100 | $25 – $100 | $0 – $2,500 | $500 – $1,000 |
| Rate Risk | Variable, moves with Fed policy | Variable, moves with Fed policy | Variable, moves with Fed policy | None, locked for term |
| Best For | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Active savers wanting flexibility + check writing | Locking in a rate for a defined period |
APY data reflects Fredonia, New York averages tracked in our database as of September 10, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Fredonia, New York
At NY’s top rate of 3.94% from Western Division Federal Credit Union, a $10,000 deposit earns $394 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Fredonia, New York earner is roughly $4,900. At 1.980% APY, saving $400/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsNew York’s high-yield savings average is 1.980% APY, variable and always accessible. A local CD may offer a higher fixed yield in exchange for locking in your deposit. Compare both side-by-side to find the better fit for your timeline.
Budget CalculatorBefore you can grow your savings, you need to know how much you can set aside each month. The median Fredonia, New York earner makes $19,409/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 1.980% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 1.980% APY grows to roughly $37,000 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Fredonia, New York savings rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Savings Rate Data: We aggregate savings account rates for Fredonia, New York directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every savings rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Fredonia, New York. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in NY.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update savings rates daily. Because savings account yields can fluctuate rapidly, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Savings Accounts in Fredonia, New York
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Fredonia, New York safe?
How often do savings rates change in Fredonia, New York?
Do I need a minimum deposit to open a savings account?
What is the difference between a Savings Account and a Money Market Account?
Are online banks better than local banks in Fredonia, New York?
How do I open a savings account in Fredonia, New York?
Best Savings Rates in Fredonia, New York
- Western Division Federal Credit Union
Savings & IRA: 3.94% APY - Lake Shore Savings Bank
Savings: 3.50% APY - SUNY Fredonia Federal Credit Union
IRA Share: 1.60% APY - Inner Lakes Federal Credit Union
Regular Savings: 0.65% APY - Woodforest National Bank
Savings Account: 0.35% APY
Fredonia, New York Rates & Resources
