Understanding Interest Rate and APY
Understanding the different terms used to describe interest rates can be confusing at first. Generally you will see the term interest rate mentioned, along with APR or APY, so what’s the differ ...
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Review of Person-to-Person Payment Services from ING Direct, FNBO Direct & UnivestDirect
More banks are starting to offer person-to-person (P2P) payment services which allow you to send money to anyone with a US-based bank account using just an email address. These services are similar to PayPal but they have an advantage in that you don't...
High-Yield Reward Checking & Savings Accounts at Security Bank in Illinois - Local Only
Security Bank is offering a reward checking along with a companion savings account. The checking is called the Kasasa Cash and the savings is called Kasasa Saver . Kasasa Cash has the following rates and features if certain monthly requirements are met...
Top Checking Account and CD Rates at East River Bank in Philadelphia - Local Only
East River Bank continues to offer a very competitive rate on its Ultimate Checking Account. The rate is down a bit since my January post , but it remains competitive with a 2.01% APY for balances of at least $100. This is listed in the bank's rate...
Competitive CD and IRA Rates Continue at Atlas Savings and Loan Association in New York City - Local Only
Atlas Savings and Loan Association continues to offer competitive CD and IRA CD rates. Short-term CD rates have fallen a bit since my January post , but they remain attractive compared to what other banks are offering. The most competitive CDs and IRA...
CPI Numbers for February - Low Inflation Continues
The Bureau of Labor Statistics released its CPI numbers for February . According to the summary: On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in February, the U.S. Bureau of Labor Statistics...
Market Share of Big and Small Banks - NYT Infographic
This is an interesting infographic from the New York Times. It's a color-coded U.S. map that shows the market share percentages of large and small. Urban areas tend to be dominated by the large banks. Small banks have the largest market share in rural...
The NCUA Report for March
The NCUA newsletter includes some interesting 2009 stats on the nation's credit unions. These include: Delinquent loans to total loans grew to 1.82 percent Loans grew 1.1 percent to $572.4 billion from $566.0 billion Shares (deposits)...
Update on ING Direct's $50 Electric Orange Promotion
Here's another ING Direct promotion, ingdirect.com/nofees . You can earn a $50 bonus by applying for the Electric Orange (Reference Code FEELESS) and by making at least 3 signature-based purchases within 45 days of account opening. It's very similar to...
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