I guess OneUnited Bank felt it couldn't hang on to 5.30% APY any longer. It finally cut the rate, but surprisingly, it's a modest cut of only 15 basis points. The new yield is 5.15% APY.
You have to wonder about OneUnited's strategy on this. Have they decided to do a bunch of small cuts rather than one large cut? After the recent massive Fed rate cuts, this new yield is still way above the competition.
For more details on OneUnited's online savings account, please refer to my account review, and for info on a $50 bonus, please refer to this post.
OneUnited Bank has been FDIC insured since 1982 (Certificate # 23966).
Thanks to the readers who mentioned this recent rate change.