The Chemung Canal Trust Bank is a New York chartered commercial bank.  Chemung Canal Trust Bank was established in 1833 and is headquartered in Elmira, New York.
 
The bank is a full service community bank that offers commercial and consumer banking and trust services.  Chemung Financial is the parent to Chemung Canal Trust Company, the company provides bank and trust services from 20 bank offices in and around southern New York’s Chemung County. 

The bank’s services include deposit services such as savings accounts, checking accounts, money market accounts, IRAs, bank CDs with a wide selection of NY CD rates.  The bank also offers credit card services, and originates a variety of loans, including personal, small business, and residential mortgage loans.  Chemung Financial subsidiary, CFS Group, offers an array of financial services including mutual funds, full and discount brokerage services, annuity and other insurance products and tax preparation and other financial services.

The bank certificates of deposit offer a good saving option to residents in the market area served by the bank including competitive New York CD rates.  The minimum deposit amount for the bank CDs with terms under three months is $2,500.  The minimum deposit for the bank CDs with terms equal to or greater than three months is $1,000 .  Bank CD interest rates in NY offered by the bank vary based on the term selected .  There is a penalty for withdrawing funds before the term has expired .

CD rates in New York and the surrounding area offered by Chemung Canal Trust include the following rates and terms:

7-89 days CD rate 0.15%
3 month bank CD rate 0.45%
5 month CD interest rate 1.25%
6 month CD rate 0.90%
10 month bank CD rate 1.55%
12 month CD rate 1.10%
15 month bank rate 1.60%
18 month CD interest rate1.10%
24 month CD rate 1.35%
25 month bank CD rate 1.90%
30 month CD interest rate 1.35%
36 month bank CD rate 1.55%
48 month bank rate 1.60%
60 month CD interest rate 1.70%
84 month CD rate1.70%

CD rates in NY and the surrounding area offered by Chemung Canal Trust are subject to change.  Bank CD interest is compounded quarterly.  To earn annual percentage yield the bank CD account holder must have interest compounded.  CD interest rates may change at the discretion of Chemung Canal Trust Company.  For current CD rates and additional account information contact the bank at (800) 836-3711.  The bank website can be found at www.chemungcanal.com.

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