4.60% MMA and 5.05% 1-yr CD at UmbrellaBank

UmbrellaBank made several increases in its deposit rates late yesterday. The APY of its Pot o'Gold Money Market Account was increased from 4.40% to 4.60%. The money market account had been at 4.40% APY since December 15th. The 6-month CD APY went up by 0.10% to 4.75% and the 12-month APY went up by 0.20% to 5.05%.

Refer to my previous post for more info on UmbrellaBank. The one big disadvantage of UmbrellaBank seems to be the lack of an ACH transfer system. Another negative is the low Bankrate.com rating of 2 out of 5 stars (below industry average) for its financial health.

UmbrellaBank still has the $20 bonus for opening its checking account and paying your bills online. To get the full $20 requires paying 10 bills over 2 months.

Thanks to the commenter who posted the rate update!