UmbrellaBank Money Market Now 4.15%
Nov 10, 2005 - 7:35 AM by Ken Tumin
UmbrellaBank just increased its Pot o'Gold Money Market account from 4.00% to 4.15% APY. This account has some advantages that EmigrantDirect doesn't have. This includes check writing access and an ATM card. A big disadvantage, however, is that you can't initiate ACH bank-to-bank transfers from this account. Your initial deposit can only be done with a wire transfer or by mailing a check. Future deposits can be done by ACH transfer initiated from another bank. Refer to my previous post for more UmbrellaBank info.
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Anonymous - #1, Thursday, November 10, 2005 - 8:34 AM
Called the Self Help Credit Union yesterday 11/9/2005. They change their rates daily. Today the one year rate is 4.78%. They do not reserve rates. You get the rate of the day when your check arrives. They were not quite clear about an ACH. You can wire the money, but it will get the next days rate.
Banking Guy (anonymous) - #2, Thursday, November 10, 2005 - 5:27 PM
Thanks for the info about SHCU. It's interesting to see how much their rates change each day. It would be an ideal CU/bank if they had a good online system that worked well with ACH tranfers.
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