Alabama Banking Rates and News

BBVA Compass is offering its first major checking account promotion since it added new checking account fees. The promotion is listed on the bank's home page. Here's the direct link to the promotion. You can earn $100 for opening a new Build-to-Order or CompassLink Checking Account online by June 30, 2012. Also required is either a qualifying direct deposit or 3 online bill payments of at least $50 each within 60 days of online account opening. Below is the offer's small print:

$100 Bonus Terms & Conditions: New consumer checking accounts opened online from May 4, 2012...

It has been a while since I last reported on Pen Air Credit Union. It continues to have competitive CD rates. One thing that has changed for the better is an expanded field of membership. The credit union's best CD rate is its special 42-month CD which has a 1.75% APY. There's also a special 13-month CD with a 1.00% APY. The most competitive standard CD is the 5-year term which has a 2.00% APY. The same rates are also available in IRAs. These rates are listed in the credit union's share rates page as of...

Many banks may have ended their free checking accounts, but at least a few are still offering new account bonuses. Customers will have to be more careful if they plan to take advantage of these promotions. That's the case with BB&T which is offering a $100 bonus for opening a checking account and performing some additional activities. Last year BB&T ended its free checking account, so those interested in this promotion will have to make sure they can avoid the fees.

To qualify for the $100 bonus, new customers must open a BB&T checking account and set-up direct deposit OR...

SunTrust Bank has a CD and IRA CD special with a competitive rate. It's a 6-year (72 month) CD with a 2.00% APY. Minimum deposit is $2,000, and the maximum opening deposit is $250,000 per CD. A new or existing checking account is required. This is a limited time special, and the rate may vary by location. This special rate and term are listed at the SunTrust CD rates page for several zip codes as of 2/28/2012.

I wasn't able to find an account disclosure online, so I used SunTrust's online chat service to find out about...

It has been a while since BBVA Compass has offered competitive CD rates. BBVA Compass currently has one CD rate that's competitive. It's a 5-year CD with a 2.00% APY. Minimum deposit is $5,000, and the maximum is $1 million. This is listed on its CD rates page as of the morning of 2/7/2012. Rates may vary by area. I've confirmed this rate for several locations including Southern California, Houston Texas and Jacksonville Florida.

BBVA Compass provides few CD details on its website. I had to call their Telephone Banking Department at 1-800-266-7277 (option 2)...

SunTrust Bank continues to offer its special CD package with the competitive 2.40% APY. I first reported on this special in January. The special requires that you open both a 39-month CD and a 63-month CD with a $2K minimum deposit in both. Both CDs have a 2.40% APY. I have the full details in my SunTrust CD review.

SunTrust just came out with a new CD/IRA special with a higher rate. It's offering a 2.70% APY on a 66-month CD. Minimum deposit is $2K. This is listed at SunTrust's CD page as of...

Redstone Federal Credit Union is offering some competitive long-term CD rates. The best one is the 5-year CD which has a 2.75% APY. Minimum deposit is $1,000. The 5-year IRA CD and Jumbo CD have a 2.80% APY. Jumbo CDs require a $100K minimum deposit. The credit union's 3-year and 4-year CD rates are also fairly competitive with rates of 1.70% APY and 2.25% APY. These rates are listed in the credit union's certificates rate page as of 2/3/2011.

As compared to internet banks on 2/3/2011, the best 5-year CD rate is 2.75% APY at...

SunTrust Bank has brought back its special CD package. As you might expect, it's not as nice as what they were offering last year. Nevertheless, the current offer is competitive. The unusual feature is that it's actually two CDs: one with a 39-month term and one with a 63-month term. Both have a 2.40% APY. You must open both CDs with a minimum deposit of $2K for each CD for a total of $4K. Each CD must be funded with an equal amount. The special also requires that you have a SunTrust checking account. This can be opened at...

State Bank & Trust Company is offering a reward checking account and a companion savings account under the platinum name. These accounts have the following rates and features (as of 11/17/2010):

Platinum Checking Account:

• 3.50% APY on balances up to $15K
• 0.75% APY for over $15K
• 0.10% base rate if requirements are not met
• Refund of nationwide ATM charges up to $20 per month

Platinum Savings Account:

• 1.50% APY on balances up to $15K
• 0.75% APY for over $15K
• 0.10% base rate if requirements are not met

To receive the above rates requires meeting the following monthly requirements:

• 12 debit card purchases
• 1...

Gulf Winds Federal Credit Union is offering a reward checking account called Gulf Winds High-Yield Checking. Like many new reward checking accounts being launched these days, the balance cap is lower than what we have come to expect. Nevertheless, it's always nice to see a new reward checking account. The rates and features of the account if certain monthly requirements are shown below (as of 10/25/2010):

• 3.01% APY for balances up to $15,000
• 0.50% APY for balances over $15,000
• 0.05% base rate if requirements are not met
• ATM fee refunds up to $15 per cycle

Monthly requirements include:

• 12 debit...

Tyndall Federal Credit Union continues to offer a few competitive long-term CD and IRA CD rates. Below are some of the best standard rates as listed in the credit union's rate page as of 10/18/2010:

• 3.00% APY 5-year CD and IRA CD
• 2.50% APY 4-year CD and IRA CD
• 2.25% APY 3-year CD and IRA CD

They also offer a CD laddering program called Certificate Advantage which gives you an extra 0.25% APY on the above certificate rates.

Tyndall FCU also offers a reward checking account called e-Checking Account. However, the rate is...

Tuscaloosa Teachers Credit Union has several competitive long-term CD and IRA CD rates. The best ones are a 3.04% APY 5-year CD and a 2.02% APY 2-year CD. Minimum deposit is $1,000. As a comparison, one of the best internet banks, Sallie Mae Bank, is currently paying 2.75% APY for its 5-year CD. These credit union CD rates are listed at the credit union's rates page as of 10/13/2010.

According to the credit union's certificates page, the early withdrawal penalty for terms of 18 months and above is 90...