Bank of America is offering an NEA-sponsored money market account with a rate guarantee of 2.00% APY through 12/31/09. Details of this offer are described at this NEA webpage. NEA is the National Education Association and is composed of active, student and retired teachers. According to the NEA webpage, the offer is only available to NEA members. Some important details of this offer described at the NEA webpage include:
- Accounts must be opened by 8/15/09
- To open account, call 1-800-215-2727 and mention Group ID #62982. (Mon-Sun, 7 a.m-10 p.m.ET)
- $5,000 minimum opening deposit (new money)
- The NEA-Sponsored Money Market Savings APYs are available exclusively to NEA members who open their accounts by phone
- These rates and APYs do not apply to accounts opened at Bank of America banking centers
Readers have reported that Bank of America doesn't check one's NEA status. However, I've been told by a Bank of America CSR that you are suppose to be a NEA member to open this account. Since the NEA membership requirement is also stated at the NEA webpage I'm considering this deal limited to NEA members.
Credit for this find goes to FW member PhoenixDude who mentioned it in this FW thread.
For other high-yield savings and money market accounts, refer to my weekly rate summary.