Eastman Credit Union continues to offer competitive certificate rates. The two most competitive ones include a 2.00% APY 12-month CD and a 2.30% APY 2-year CD. Minimum deposit is $1,000. An extra 10 basis points are applied to Jumbo CDs with a $100,000 minimum deposit. These rates are listed in the credit union's deposit rates table as of 2/2/2010.
Membership is open to those who live, work or attend school in several counties in the northeast part of Tennessee. Counties in southwest Virginia and in Harrison and Gregg Counties in Texas are also included. There's also a long list of Select Employer Groups. Please refer to the Who Can Join Page for the full details.
Branches are located in Tennessee, Virginia, Texas, South Carolina and Arkansas.
The credit union's ratings for safety and soundness are strong: 4 stars (sound) at Bankrate.com and 5 stars (superior) at BauerFinancial. Both ratings are based on 9/30/09 financial data. The Bankrate rating is one star higher than what I reported in August when it was based on 3/31/09 data.
The credit union is federally insured by the NCUA (Charter # 68095). It's a large credit union with $2.1 billion in assets and 109,770 members based on 11/17/09 NCUA data.
Arkansas Deposit Account Rates and Deals
Browse through the stories below to view current deals for Arkansas banks or select an item from the menu bar above to view current rates in Arkansas.
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Competitive CD Rates at Eastman Credit Union in Parts of TN, VA, TX, SC & AR - Local Only
Tuesday, February 2, 2010 - 9:07 AM CT
Competitive CD Rates at JustBANKit.com
Saturday, January 23, 2010 - 10:27 AM CT
Allied Bank in Arkansas has an internet bank called JustBANKit.com, and they're offering some decent CD rates. The two most competitive are the 1.90% APY 12-month CD and the 2.00% APY 18-month CD. There's also a 1.50% APY 6-month CD and a 2.10% APY 30-month CD. These rates are listed on the bank's home page as of 1/23/2010. Minimum deposit is $1,000. Interest is compounded semi-annually.
Even though the bank's About page states that JustBankIt.com is an internet branch and the online applications currently have no geograhpic limitations listed, I asked the CSR yesterday if it's available nationwide just to make sure. I received an "it depends" answer. The CSR said they may reject your application if your credit report isn't top notch. He wasn't sure if this was a hard or soft pull. They also do a ChexSystems verification.
According to the CSR, the CD can be funded by mailing a check or a wire transfer ($15 fee). The CD rate won't lock until they receive the funds.
The CSR said the early withdrawal penalty is 3 months of interest. If you decide to not let the CD renew, you can instruct them to send a check or initiate a wire transfer ($15 fee). If you also open their free checking account, I would think they would be able to transfer it into the checking.
Branches are located in several cities of Arkansas including Little Rock.
The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 9/30/09 data. The bank has been a FDIC member since 1934 (FDIC Certificate # 91).
Thanks to the reader who emailed me news about this bank and the CDs.
2.10% 15-Month CD at Bank of Fayetteville in AR - Available Nationwide
Tuesday, December 22, 2009 - 9:42 AM CT
Bank of Fayetteville is offering a special 15-month CD with a 2.10% APY. Minimum deposit is $500. This rate is listed at the bank's rates page as of 12/22/09. The CD also has a step-up option.
According to the bank's service rep, you can open a CD online. The "Open an Account" link is on the left sidebar of the rates page under the "Quick Links" tab. I was told once you submit the application, a new-account rep will contact you.
The bank also offers a nationwide reward checking account that currently pays 3.20% APY for balances of up to $50K. It had recently been 3.50% APY, and when I first reported on this account in February 2008, it had a 5.01% APY (see my account review).
The bank has 9 offices in Fayetteville, Farmington, Prairie Grove and West Fork, Arkansas.
The bank's ratings for safety and soundness are a little weak: 2 stars (below peer group) at Bankrate.com (based on 6/30/09 data) and 3 stars (adequate) at BauerFinancial (based on 9/30/09 data). It has been a FDIC member since (FDIC Certificate # 26975).
Other Competitive Certificate of Deposit Rates
According to the bank's service rep, you can open a CD online. The "Open an Account" link is on the left sidebar of the rates page under the "Quick Links" tab. I was told once you submit the application, a new-account rep will contact you.
The bank also offers a nationwide reward checking account that currently pays 3.20% APY for balances of up to $50K. It had recently been 3.50% APY, and when I first reported on this account in February 2008, it had a 5.01% APY (see my account review).
The bank has 9 offices in Fayetteville, Farmington, Prairie Grove and West Fork, Arkansas.
The bank's ratings for safety and soundness are a little weak: 2 stars (below peer group) at Bankrate.com (based on 6/30/09 data) and 3 stars (adequate) at BauerFinancial (based on 9/30/09 data). It has been a FDIC member since (FDIC Certificate # 26975).
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com
- My weekly list of hot nationwide and local CD deals
2.00% 15-Month CD & 2.50% 23-Month CD at Regions Bank in Several States - Local Only
Wednesday, December 16, 2009 - 8:53 AM CT
Regions Bank has adjusted its special CDs, but they remain competitive in many states. All areas appear to have the same long-term CD special rates: 2.50% APY for 23 months and 3.00% APY for 42 months. The 7-month CD special also appears common for all areas, but it's not nearly as competitive with a 1.25% APY. They used to have a 12-month special, but the term is now 15 to 17 months. The APY is 2.00% for many states (I've confirmed this for AL, GA, IL and TX). In some states it's only 1.75% APY (I've confirmed this for FL and IN). The rates vary by area, so you'll have to enter your zip code at Regions CD page to see the rates available for your area. The above rates were checked on 12/16/09.
Minimum deposit for the above specials is $10,000 with a $1 million maximium, and new money is required. Also, the CD page states that you must have or open a Regions checking account. A reader in my last Regions post mentioned that his Texas branch hasn't required him to open a checking account. So you may be able to get out of the checking requirement if you have some nice reps at your local branch.
When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
Regions lost $473 million in the third quarter, and it's in the process of cost-cutting which includes closing some branches. According to this Herald Tribune article, it's closing 22 offices in Florida and 121 in its 16-state footprint. Regions was one of the major banks that were required to raise capital based on the government's stress test last spring (see post).
Regions Bank's rating for safety and soundness at Bankrate.com is 1 star (lowest) based on 6/30/09 data. At BauerFinancial it was 3 stars (adequate) when it was based on 6/30/09 data. It remains 3 stars based on 9/30/09 data. Regions Bank has been a FDIC member since 1934 (Regions' FDIC Certificate # 1368).
Other Competitive Certificate of Deposit Rates
Minimum deposit for the above specials is $10,000 with a $1 million maximium, and new money is required. Also, the CD page states that you must have or open a Regions checking account. A reader in my last Regions post mentioned that his Texas branch hasn't required him to open a checking account. So you may be able to get out of the checking requirement if you have some nice reps at your local branch.
When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
Regions lost $473 million in the third quarter, and it's in the process of cost-cutting which includes closing some branches. According to this Herald Tribune article, it's closing 22 offices in Florida and 121 in its 16-state footprint. Regions was one of the major banks that were required to raise capital based on the government's stress test last spring (see post).
Regions Bank's rating for safety and soundness at Bankrate.com is 1 star (lowest) based on 6/30/09 data. At BauerFinancial it was 3 stars (adequate) when it was based on 6/30/09 data. It remains 3 stars based on 9/30/09 data. Regions Bank has been a FDIC member since 1934 (Regions' FDIC Certificate # 1368).
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com (overview of DepositAccounts.com)
- My weekly list of hot nationwide and local CD deals
$150 Checking Account Bonus at First Tennessee Bank - Local Only
Wednesday, November 4, 2009 - 7:19 AM CT
First Tennessee Bank is offering a checking account promotion in which you can earn up to $150. Details of the promotion are described at firsttennessee.com/150. The promotion is scheduled to end on 12/31/2009. To receive $100 requires that you open a new checking account at a branch and present a copy of this promo or open online. Some of the important small print includes:
It appears that you must be in First Tennessee's market area to be eligible for this offer. The online application requires that you enter your zip code, and it won't let you apply for a First Tennessee checking account if the zip code is outside their area.
Branches are located mostly in Tennessee, but there are also branches in Georgia, Virginia, Arkansas and Mississippi. The bank has been a FDIC member since 1934 (FDIC Certificate # 4977).
Thanks to the reader who mentioned this promotion in the Bank Deals hub page.
Other Bank Bonus Deals:
- Minimum opening deposit to receive bonus is $300.
- If you meet the stated requirements of this promotional offer, the bonus will be credited to your account within 6 weeks and will be reported as income on Form 1099-INT.
- Limit one $100 bonus per household.
- New checking households only.
- Customer agrees to maintain account in good standing for a minimum of six months.
- $50 Bonus is for new or existing customers who have never used First Tennessee Bill Pay Online or who have not used Bill Pay Online with any First Tennessee account since August 1, 2009.
- Customer must pay a minimum of six bills using First Tennessee Bill Pay Online between November 1, 2009, and December 31, 2009, to be eligible for bonus.
- Bills are considered paid as of the actual payment date, which is the date funds are withdrawn and sent to the payee.
- Customers receiving this offer who meet the requirements will receive a direct deposit of $50 into account from which bills were paid on or before January 31, 2010.
- No partial bonus amounts will be awarded.
- Limit one bill pay bonus per household.
It appears that you must be in First Tennessee's market area to be eligible for this offer. The online application requires that you enter your zip code, and it won't let you apply for a First Tennessee checking account if the zip code is outside their area.
Branches are located mostly in Tennessee, but there are also branches in Georgia, Virginia, Arkansas and Mississippi. The bank has been a FDIC member since 1934 (FDIC Certificate # 4977).
Thanks to the reader who mentioned this promotion in the Bank Deals hub page.
Other Bank Bonus Deals:
2.00% 12-Month CD, 2.50% 23-Month CD & 3.25% 42-Month CD at Regions Bank in Several States
Wednesday, October 28, 2009 - 8:05 AM CT
Update 1/09/2010: The special CDs have changed, and the rates have fallen. Please check the bank's website for the latest rates.
Regions Bank just came out with a special 12-month CD rate of 2.00% APY. Also, the longer terms specials continue to be very competitive. The rates vary by state, so you'll have to enter your zip code at Regions CD page to see the rates available for your area. The 2% was available in zip codes in Texas, Illinois, Central Florida and Georgia. However, a lower 1.75% APY was listed for South Florida, Indiana and North Carolina. The longer term rates were the same for all of the above areas. The full list of special CD rates as of 10/28/09 include:
I last posted on these specials in September. Before today the 42-month CD rate had gone down to 3% APY in many areas.
When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
Regions Financial Overview
Regions Financial reported its third quarter results last week. According to this Reuters article, Regions' third-quarter loss was more than what analysts expected. However, the results were good enough to be encouraging to analysts.
One interesting thing to note in the earnings report is that Regions plans to close 121 branches to cut costs. Also, as you might expect with the CD specials that they have offered for many months, their deposits have grown with 270,000 new checking accounts. Average low cost deposits increased $1.3 billion versus the second quarter. These were highlights in the earnings report and show why they require a checking account with these special CDs.
Regions was one of the major banks that were required to raise capital based on the government's stress test last spring (see post).
Regions Bank's rating for safety and soundness at Bankrate.com has dropped from 2 stars to 1 star (lowest). It continues to be 3 stars (adequate) at BauerFinancial. Both ratings are based on 6/30/09 financial data. Regions Bank has been a FDIC member since 1934 (Regions' FDIC Certificate # 1368).
Thanks to the reader who mentioned this new 12-month CD special in the bank deals hub page.
Other High Certificate of Deposit Rates
Regions Bank just came out with a special 12-month CD rate of 2.00% APY. Also, the longer terms specials continue to be very competitive. The rates vary by state, so you'll have to enter your zip code at Regions CD page to see the rates available for your area. The 2% was available in zip codes in Texas, Illinois, Central Florida and Georgia. However, a lower 1.75% APY was listed for South Florida, Indiana and North Carolina. The longer term rates were the same for all of the above areas. The full list of special CD rates as of 10/28/09 include:
- 3.25% APY 42-month CD
- 2.50% APY 23-month CD
- 2.00% APY 12-month CD (1.75% APY in some areas)
- 1.25% APY 7-month CD
I last posted on these specials in September. Before today the 42-month CD rate had gone down to 3% APY in many areas.
When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
Regions Financial Overview
Regions Financial reported its third quarter results last week. According to this Reuters article, Regions' third-quarter loss was more than what analysts expected. However, the results were good enough to be encouraging to analysts.
One interesting thing to note in the earnings report is that Regions plans to close 121 branches to cut costs. Also, as you might expect with the CD specials that they have offered for many months, their deposits have grown with 270,000 new checking accounts. Average low cost deposits increased $1.3 billion versus the second quarter. These were highlights in the earnings report and show why they require a checking account with these special CDs.
Regions was one of the major banks that were required to raise capital based on the government's stress test last spring (see post).
Regions Bank's rating for safety and soundness at Bankrate.com has dropped from 2 stars to 1 star (lowest). It continues to be 3 stars (adequate) at BauerFinancial. Both ratings are based on 6/30/09 financial data. Regions Bank has been a FDIC member since 1934 (Regions' FDIC Certificate # 1368).
Thanks to the reader who mentioned this new 12-month CD special in the bank deals hub page.
Other High Certificate of Deposit Rates
2.75% 25-Month CD at Southern Bank in MO & AR
Wednesday, September 30, 2009 - 9:11 AM CT
Southern Bank is offering a special 25-month CD with a 2.75% APY. Minimum deposit is $500. This special doesn't seem to be listed at the bank's website. I reader mentioned this to me, and I contacted the bank yesterday (9/29/09) for more details.
According to the CSR, the CD can be opened online and through the mail. There's an online application link located at the bank's CD page. In addition to the online application, they require copies of two forms of ID with at least one photo ID. The online application states that accounts are available only to Missouri and Arkansas residents.
Southern Bank also offers a high-yield reward checking account which pays 5.01% APY for balances up to $25,000 if the typical reward checking requirements are met (see post).
Branches are located in Missouri cities of Poplar Bluff, Dexter, Sikeston, Kennett, Doniphan, Van Buren, Qulin and Matthews, and in the Arkansas cities of Brookland, Jonesboro, Leachville and Paragould.
The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). The bank has been a FDIC member since 1951 (FDIC Certificate # 28332).
Other Competitive Certificate of Deposit Rates
According to the CSR, the CD can be opened online and through the mail. There's an online application link located at the bank's CD page. In addition to the online application, they require copies of two forms of ID with at least one photo ID. The online application states that accounts are available only to Missouri and Arkansas residents.
Southern Bank also offers a high-yield reward checking account which pays 5.01% APY for balances up to $25,000 if the typical reward checking requirements are met (see post).
Branches are located in Missouri cities of Poplar Bluff, Dexter, Sikeston, Kennett, Doniphan, Van Buren, Qulin and Matthews, and in the Arkansas cities of Brookland, Jonesboro, Leachville and Paragould.
The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). The bank has been a FDIC member since 1951 (FDIC Certificate # 28332).
Other Competitive Certificate of Deposit Rates
3.25% 42-Month CD & 2.50% 23-Month CD at Regions Bank in Several States
Sunday, September 20, 2009 - 6:29 PM CT
Regions Bank continues to offer some competitive special CD rates. The rates vary by state, so you'll have to enter your zip code at Regions CD page to see the rates available for your area. For zip codes in Texas, Florida, Georgia, North Carolina, Illinois and Indiana, the special CD rates as of 9/20/09 include:
I last posted on these specials in July, and the 2-year CD rate has actually gone up a little.
When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
Regions was one of the major banks that were required to raise capital based on the government's stress test last spring (see post). Regions Bank's ratings for safety and soundness continue to be a little weak: 3 stars (adequate) at BauerFinancial (based on 6/30/09 data) and 2 stars (below peer group) at Bankrate.com (based on 3/31/09 data). It has been a FDIC member since 1934 (Regions' FDIC Certificate # 1368). It's a large bank with $135 billion in assets.
Other High Certificate of Deposit Rates
- 3.25% APY 42-month CD
- 2.50% APY 23-month CD
- 1.60% APY 10-month CD
I last posted on these specials in July, and the 2-year CD rate has actually gone up a little.
When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
Regions was one of the major banks that were required to raise capital based on the government's stress test last spring (see post). Regions Bank's ratings for safety and soundness continue to be a little weak: 3 stars (adequate) at BauerFinancial (based on 6/30/09 data) and 2 stars (below peer group) at Bankrate.com (based on 3/31/09 data). It has been a FDIC member since 1934 (Regions' FDIC Certificate # 1368). It's a large bank with $135 billion in assets.
Other High Certificate of Deposit Rates
5.01% Reward Checking Account at Carter FCU in LA & AR - Local Only
Monday, September 14, 2009 - 9:50 AM CT
Carter FCU is offering a reward checking account called My Carter Rewards Checking. It has the following rates and features if certain monthly requirements are met:
Membership is open to those who live, work, worship or attend school, or are a business or other legal entity in Caddo, Bossier, Webster, Bienville, Claiborne, DeSoto or Red River Parishes, all in Louisiana, plus Columbia or Lafayette Counties, both in Arkansas. Please refer to the credit union's Who Can Join Page for the full details.
Branches are located in the Louisiana cities of Haughton, Shreveport, Springhill, Mansfield and Minden as well as in Magnolia, Arkansas.
The credit union's ratings for safety and soundness are average: 4 stars (excellent) at BauerFinancial and 3 stars (performing) at Bankrate.com. These rates are based on 3/31/09 financial data. The credit union started in 1954 and is federally insured by the NCUA (Charter # 9164).
Other Reward Checking Accounts
To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
- 5.01% APY on balances up to $30,000
- 1.01% APY on portion of balances above $30,000
- 0.11% base rate if qualifications are not met
- ATM fee refunds nationwide without limit
- 11 Visa check card purchases
- One direct deposit or ACH auto debit
- Receive e-statements (valid email address required)
- $100 minimum opening balance
- No minimum balance requirement
- No monthly service charge
- $5 [$1 primary savings; $4 membership processing fee]
Membership is open to those who live, work, worship or attend school, or are a business or other legal entity in Caddo, Bossier, Webster, Bienville, Claiborne, DeSoto or Red River Parishes, all in Louisiana, plus Columbia or Lafayette Counties, both in Arkansas. Please refer to the credit union's Who Can Join Page for the full details.
Branches are located in the Louisiana cities of Haughton, Shreveport, Springhill, Mansfield and Minden as well as in Magnolia, Arkansas.
The credit union's ratings for safety and soundness are average: 4 stars (excellent) at BauerFinancial and 3 stars (performing) at Bankrate.com. These rates are based on 3/31/09 financial data. The credit union started in 1954 and is federally insured by the NCUA (Charter # 9164).
Other Reward Checking Accounts
To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
3.00% 36-Month Triple Option CD at Southern State Bank in Arkansas - Local Only
Monday, September 7, 2009 - 4:28 PM CT
Southern State Bank is offering a special CD called Triple Option CD. The details and rate are listed on the bank's home page as of 9/07/09. These include:
The bank also offers the True Rewards Checking Account which pays 5.01% APY on balances up to $25K if the typical reward checking requiremets are met (as of 9/07/09). Please refer to my True Rewards Checking post for more details about this account.
It appears that a branch visit is required to open an account. Branches are located in the Arkansas cities of Malvern, Rockport, and Haskell.
Southern State Bank is a division of Farmers Bank & Trust Company. FB&T ratings for safety and soundness are fair: 3 stars (performing) at Bankrate.com and 3½ stars (good) at BauerFinancial. Both ratings are based on 3/31/09 financial data.
FB&T was established in 1906 has been FDIC insured since 1934 (FDIC Certificate # 1291).
Other Competitive Certificate of Deposit Rates
- Earn 3.00% APY, 36 month, Bonus of 0.25% if open a True Rewards Checking account
- Select a one-time interest rate increase
- Minimum balance to open is $2,000. A 50% additional deposit on the original balance is allowed
- A no-penalty 50% withdrawal on the original balance is allowed
- CD terms & caveats: penalty for early withdrawal; variable rate CD; interest rate may change prior to maturity; personal accounts only
The bank also offers the True Rewards Checking Account which pays 5.01% APY on balances up to $25K if the typical reward checking requiremets are met (as of 9/07/09). Please refer to my True Rewards Checking post for more details about this account.
It appears that a branch visit is required to open an account. Branches are located in the Arkansas cities of Malvern, Rockport, and Haskell.
Southern State Bank is a division of Farmers Bank & Trust Company. FB&T ratings for safety and soundness are fair: 3 stars (performing) at Bankrate.com and 3½ stars (good) at BauerFinancial. Both ratings are based on 3/31/09 financial data.
FB&T was established in 1906 has been FDIC insured since 1934 (FDIC Certificate # 1291).
Other Competitive Certificate of Deposit Rates
Immediate Access Accounts
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