Dedicated to Deposits: Deals, Data, and Discussion

Finding The Best Bank Rates and Deals #9


This post is intended to be a place where readers can share info on the best bank deals or other useful banking news. Your help is much appreciated. Also, I'm including websites that list the best CD and money market rates. This is intended to be a place where you can start your search for the best bank deals.

This is the ninth finding-the-best-deals post. The last one was getting too long. Also, when there are more than 200 comments, blogger now requires you to click to the next comment page to see the new comments. So to make it easier to post and review comments, I'll be sure to create a new post once the number of comments exceed 200.

In your comment, please include the link to the deal. If the deal is not on the bank's website, please include the source of the deal (i.e. a New York Times newspaper ad, a sign at a local bank, etc.)

I'll try my best to post on the deals, and I'll be sure to give you credit. If you want to remain anonymous, simply comment as an anonymous user or email me at bankdeals at gmail dot com.

One tip to see if the deal has already been posted is to use the search box at the top of this page or do a search of my archive page or the monthly archives which are located on the right sidebar.

Bank Deals at this Blog and Elsewhere

With new deals from banks and credit unions constantly popping up, no site has a complete list of all the best deals. Some think Bankrate.com has a complete list, but it fails to list many high rate CDs especially those with odd terms like an 11-month term. Also, it does a poor job at credit union certificates.

Below are lists of the best resources for different categories. I've included mine on top of each category (noted by Bank Deals:). If you find another good source of bank deals, please let me know.

Best Certificate of Deposit Rates

Best Money Market / Savings / Checking Account Rates

Bank Bonuses

Latest Deals from Major Banks

Banking and Credit Union Resources

Related Posts

Comments
204 comments.
Comment #1 by Anonymous posted on
Anonymous
US Bank is advertising a $75 checking bonus in Chicago.

1
Comment #2 by tu (anonymous) posted on
tu
LAME, DON'T BOTHER -- PNC Bank, 5% rebate on qualifying check card purchases through 7/31/2008. Fine print indicates promo is capped at $100 in total rebates. More info at pnc.com/offers.

1
Comment #3 by Anonymous posted on
Anonymous
F&M Bank www.fmbanks.com
has a 4.00% APY 48 month CD (minimum deposit $1K). 1-800-444-6989.

1
Comment #4 by Anonymous posted on
Anonymous
If you need to rollover IRS funds and your are into the age group of distribution, you can get 5% APY with KeyDirect. The period is seven years but you can remove the funds anytime under the distribution process so the long time forward is not a problem. KeyDirect does not work in states which have branches. It is also a pain to deal with but 5% is 5% when you are faced with a maturity and nowhere else to go.

1
Comment #5 by Perturbance (anonymous) posted on
Perturbance
Aloha Pacific FCU - www.kalanet.com - in Honolulu, HI has started a Rewards Checking account program. They will pay 4% APY up to $50,000 if you have (1) 10 debit card transactions per month, (2) Direct deposit or ACH bill payment, and (3) electronic statements. Balances over $50,000 pay 0.5% APY. There's a full 100 basis-point bump (to 5% APY) if you also have a Home Equity Line of Credit.

Field of Membership is restricted to
• Employees/retirees of the City & County of Honolulu and their immediate family members.
• Members/employees of the Hawaii Government Employees Association (HGEA).
• Members/employees of a recognized Select Employee Groups (SEG).
• Immediate family/household members of an existing member and organization of such persons.

1
Comment #6 by Sree (anonymous) posted on
Sree
National1st Credit Union got new e-Rewards Checking Account with 5% APY. Terms and Conditions kills the sweetness though.. see below

http://www.national1st.org/WebFederal.asp?Cabinet=Home&Drawer=Main&Folder=Accounts&SubFolder=Checking#erewardsplus

1
Comment #7 by Anonymous posted on
Anonymous
Wood and Huston in Springfield MO continues to offer 5.0% APY on a free checking account with upto a $25,000 balance.

http://www.woodhuston.com/free-checking-that-pays-500-apy-p-4.html

Thanks - Andy

1
Comment #8 by larkin (anonymous) posted on
larkin
Amboy Direct has lowered its rates:
E-Savings 3.56%
Premium Savings 3.65%
Maximizer 4.00%

1
Comment #9 by Chicago CD Rates (anonymous) posted on
Chicago CD Rates
It's possible you've posted on this before, but I haven't been able to find it. CDs up to 5.10% and IRA CDs up to 5.20% at Credit Union 1:

http://www.chicagocdrates.com/2008/03/04/up-to-520-cds-and-ira-cds-at-credit-union-1/

1
Comment #10 by Anonymous posted on
Anonymous
California Pacific FCU continue offering 3 month CD in March. Rate is 5% APY
http://www.calpacfcu.org/asp/products/product_2_2.asp

1
Comment #11 by Hustler (anonymous) posted on
Hustler
Bank of America $100 Business Bonus

http://www.hustlermoneyblog.com/bank-of-america-100-business-checking-bonus/

1
Comment #12 by Anonymous posted on
Anonymous
Best reward checking in the nation
6.02% yield (25,000 cap)
https://secure.charterco.com/turbo/index.cfm

1
Comment #13 by Anonymous posted on
Anonymous
iGObanking.com has a 4.30% APY 60 month CD, which seems pretty competitive now-a-days.

They also have a 4.00% APY 15 month CD, and a bunch of 3.85% APY CD's for long-ish terms.

1
Comment #14 by larkin (anonymous) posted on
larkin
Bankrate shows E*trade going to 3.45% (from 4.10%). I guess it'll post tomorrow.

1
Comment #15 by Anonymous posted on
Anonymous
Cal State 9 CU is offering a 5.0%APY 11 month CD. My 6% 7 mo CD just matured with them. What do you think about rolling it over to this offering? I know about the Conservertorship.

1
Comment #16 by Bozo (anonymous) posted on
Bozo
To: All and Banking Guy
Re: Waiver of early withdrawal penalty on CDs for IRA accounts

A poster above noted an interesting "loophole" for obtaining a waiver of early withdrawal penalties if funds are in an IRA and you are over 59 1/2.

Example: A retiree wants to take advantage of the higher rates in a longish (say, 7 or 10 year) CD but really needs the money in three years. Can the normal early withdrawal penalties be avoided?

Answer: Maybe so. Here's language from one credit union:

"Early withdrawal penalty on IRA certificates will be waived for members age 59 1/2 or older for taxable withdrawals and periodic payments only. The waiver will not apply to rollover or direct transfer withdrawals."

So, in the example above, the retiree will benefit from the higher rate and still be able to withdraw the funds without penalty. Presto, you've piggybacked the longish rate onto a shorter-term CD.

Based on my discussions with several institutions, this policy is NOT uniform. Check the disclosure before you invest.

Yours,

Bozo

1
Comment #17 by Bozo (anonymous) posted on
Bozo
PS: As a follow-up to my post immediately above, there may be other situations where a retiree (59 1/2+) may be able to avoid early withdrawal penalties in an IRA. For example, if rates actually go up, and you want to keep the funds in the same institution, some institutions will waive the early withdrawal penalty for retiree IRAs. Some institutions are not as generous as the quoted credit union. KeyDirect limits waivers to "automated distributions" after 59 1/2, which presumably are limited to MRDs (minimum required distributions). As noted, check your plan disclosure before you attempt to game the system, and always "get it in writing", since CSRs are notoriously ignorant of the nuances of plan details (if the answer isn't in the "Policy and Procedures" manual, they seldom have a clue).

Yours,

Bozo

1
Comment #18 by Anonymous posted on
Anonymous
e*trade down to 3.45%

1
Comment #19 by Anonymous posted on
Anonymous
US Savings Bonds I Series are starting to look good.

4.28% interest for six month. 1.2% over the rate of inflation after that. 3 month interest penalty if cashed in before 5 years.

$5000 limit at bank branch. Additional, $5000 available online.

1
Comment #20 by Anonymous posted on
Anonymous
I'm from the tiny rural town of Hume MO. The bank here failed and was closed today by the MO Div of Finance according to the FDIC page.

1
Comment #21 by ShraZZy (anonymous) posted on
ShraZZy
WAMU 6M CD at 4%

1
Comment #22 by Anonymous posted on
Anonymous
Bankrate.com has an article about indexed cd's. Sort of risky. Has anybody tried these?

1
Comment #23 by Anonymous posted on
Anonymous
Another rewards checking account in Colorado..

integritybankandtrust.com
Hi Rewards Checking

The website didn't have details on the account (it just said to call) but I saw a sign at a branch which I believe said the top interest rate was 5.01%. Didn't notice the fine print such as account limit, usage requirements, etc.

1
Comment #24 by Saver (anonymous) posted on
Saver
Allegacy Federal Credit Union.
offers Reward Checking 6.00%

https://www.smartratechecking.com/index.html

unfortunately only way to join is to work for a particular employer or live in a particular census tract.

Persons who live, work, worship, or attend school in, and businesses and other legal entities located in Census Tract #48 in Mecklenburg County, North Carolina, bounded by the following: Beginning at the intersection of Beatties Ford Road and Interstate 85, then east to the intersection of Interstate 77, then southwest to the intersection of the Seaboard Coastal Railroad, then north on Beatties Ford Road to the intersection of Interstate 85.
Persons who live, work, worship, or attend school in, and businesses and other legal entities located in Census Tract #707 in Stokes County, North Carolina, bounded by the following: Beginning at the intersection with the Stokes/Forsyth County line, following the Stokes/Forsyth County line west to the intersection with Town Fork Creek, then northeast to the intersection with Voss Creek, then north to the intersection with Rosebud Rd., then east to East Rd., then northeast to State Road 89, then north to Powder Dam Rd., Then northeast to the intersection with the Dan River, then southeast to the intersection with the Stokes/Rockingham County line and south along the Stokes/Rockingham County line to the intersection of the Stokes/Forsyth County line.

1
Comment #25 by Anonymous posted on
Anonymous
Not a deal but noticed that ING Direct has dropped its rates effective 3/11/08 on Orange savings (3.1% APY) and Electric checking (2% APY for under 50k).

1
Comment #26 by Anonymous posted on
Anonymous
For Bexar County, Texas residents or people who work or worship here - San Antonio City Employees FCU has become generations federal credit union (yes, the name is not capitalized.) Starting March 10th generations is offering a 6% 6-month share certificate or IRA. All proceeds will be deposited to a regular 12-month share certificate upon maturity (current APY 3.85% on 12 month deposit.) Minimum deposit $1,000, maximum $250,000 per qualified member. This credit union can be reached at 210-229-1128.

Susan in San Antonio

1
Comment #27 by Anonymous posted on
Anonymous
Page Valley Bank in VA has 6.01% APY checking account. Available nationwide. Maximum $25000
http://www.pagevalleybank.com/2713/mirror/p_rewards_checking.htm

1
Comment #28 by Anonymous posted on
Anonymous
Patelco Credit Union has an 8.00% APR savings account through 12/31/08 for anyone who is less than 21 years of age when the account is opened. The maximum amount for the account is $1,000.00. For details go to:

http://patelco.org/accounts/gr8r8.aspx

1
Comment #29 by Anonymous posted on
Anonymous
http://www.elkgrovebankandtrust.com/personal/savings/money_market_2.html

$80 visa gift card for signing up to their account. Not sure if it's nationwide though.

1
Comment #30 by Anonymous posted on
Anonymous
http://www.fnbnp.com/marketing/Marketing?BANKID=79&LVLNBR=4&NAV_ITM_KEY=79100309

$100 cash bonus for signing up for their account. Not sure if it's nationwide though.

1
Comment #31 by Anonymous posted on
Anonymous
Clinton Savings Bank is a local bank that has a few branches in Clinton, MA and neighboring towns.
- Total Access Checking -
-5.01% APY* (first $50k)
-No minimum balance
-No fees
-ATM refunds**

To earn the 5.01% APY* bonus rate and have free ATM transactions nationwide, each monthly statement cycle you must:

-Make at least 10 MasterMoney debit card transactions
-Have at least one direct deposit or automated clearing house debit transaction
-Receive account statements electronically
-Review account information via our online banking

http://www.clintonsavings.com/home/personal.checking

Bank Deals Blog is the best!

1
Comment #32 by Anonymous posted on
Anonymous
ufbdirect down to 3.85%.

1
Comment #33 by Anonymous posted on
Anonymous
Tropical Financial Credit Union (south Florida) 6-month CD 4.25% APY (minimum $50,000) or 4% APY minimum $500.

Website is www.tropicalfcu.org.

It's a good CU. They had 6% APY CD's for terms of 15, 21 or 30 months back in 2006, but have been offering competitive rates on only 6-month CD's since early 2007. It's understandable given the real estate downturn in this area. At least this indicates it's a conservatively managed CU.

1
Comment #34 by Anonymous posted on
Anonymous
Comerica Bank, new branch, 1351 Howard Avenue, Burlingame (used to be Brothers Deli).
Open a new checking account, with $100 minimum, you can open a 7-month 4.0 APY CD, minimum $2500.
As a bonus, if you add direct deposit to the checking account, you get one year free of a security deposit box. They also gave me a Thermos, pen, envelope opener, and computer brush.

1
Comment #35 by Anonymous posted on
Anonymous
ING's down again. CD's all 2.75%, except 3 mo (3.00%) and 60 mo (3.25%).

I don't even want to know what the savings account / electric orange rates will be next week...

1
Comment #36 by Anonymous posted on
Anonymous
Pacific Resource Credit Union is offering a 6 month 3.998% APY CD (new money only, min $1,000). Must give them confirmation number E56789. Account can be opened over the phone at 800-276-6024. Membership is extended to anyone who lives, works, worships or attends school near Los Angeles, CA. New memberships (as of 2 years ago) were subject to a hard credit inquiry.

1
Comment #37 by Anonymous posted on
Anonymous
MYCCCU.COM
4.00% APY for 7 months with new money only
7 months • $1,000 minimum • $10,000 maximum
First certificate only


3.75% APY for 9 months with new money only
9 months • $10,000 minimum • $250,000 maximum

1
Comment #38 by Anonymous posted on
Anonymous
SalemFive Direct down:

0-9,999: 3.10%
10,000 - 24,999: 3.20%
25,000 - 99,999: 3.30%
100,000 - 999,999: 3.60%
1,000,000+: 0.50%

1
Comment #39 by Anonymous posted on
Anonymous
Indymac 4m internet cd down to 2.8 apy. Only term 4+ is 12 and 18 months.
--Ram

1
Comment #40 by Jugulum (anonymous) posted on
Jugulum
City Bank of Lubbock, TX has a Rewards Checking program, up to 4.59% APY. I don't think you've posted about them:
https://www.citybankonline.com/reward-checking-p-4.html

1
Comment #41 by Marc Schoenfeld (anonymous) posted on
Marc Schoenfeld
countrywide CD rates are a bit odd. I think they actually raised the 12 mo to 4.2% after the big cut. Not sure if this is some forecast of rates on their part (they think fed will reverse the cuts in 9 months or so?) or maybe some liquidity issues where they can't have money leave and/or need more coming in prior to the bofa merger consumating.

1
Comment #42 by grobe (anonymous) posted on
grobe
Countrywide is down:
1% under $10,000
3.25% $10,000 plus

1
Comment #43 by Anonymous posted on
Anonymous
Bank of Internet USA (www.bankofinternet.com) is offering three high-yield checking accounts - these are rates posted as of March 19, 2008.

Freedom Checking (open to anyone, no minimum balance or monthly fee)
Rate 3.34% APY 3.40%

Boomer Checking (offered to folks age 40 or better)
Rate 3.39% APY 3.40%

Senior Checking (offered to folks age 55 or better)
Rate 3.68% APY 3.75%

1
Comment #44 by grobe (anonymous) posted on
grobe
Sorry, Countrywide rate decrease did not happen (read the wrong link).

1
Comment #45 by Anonymous posted on
Anonymous
United Teletech Federal Credit Union is offering 4.50% APY on their United Money Mkt Acct. Opening balance is $25K, and you must maintain $25K or above to receive the promo rate. No maximum deposit is mentioned. The 4.50% APY is guaranteed for 4 months.
United Teletech branches are primarily located in Monmouth County, NJ. For more info, check out

http://utfinancial.org/promos/
2008-03-14-money-market.asp

or call 732.530.8100

1
Comment #46 by Bozo (anonymous) posted on
Bozo
I gave up on all these "slick deals" months ago. My jumbo CD with Patelco matures in April. Just gonna put it in Alliant Credit Union. I'll get what I get. Prolly won't beat inflation. I am so depressed.. Just kidding.

Let's talk up the economy. All is well. Hank Paulson, well, he's a Goldman Sachs guy. Not Jewish, but close.

Yours,

Bozo

1
Comment #47 by Anonymous posted on
Anonymous
I found Hanmi Bank that pays
4.55 APY minimum deposit $10,000.
6 month Advance CD. You also need to open checking account for the bank to deposit your interest. Checking account can be closed after 90 days.
Please call to verify. This bank
mainly has a lot of branches in Southern CA https://www.hanmi.com/. Hope this helps.

1
Comment #48 by Anonymous posted on
Anonymous
SafeAmerica CU in California offers 4.50% (4.59%APY) interest money market account with $10,000 minimum balance.
http://www.safeamerica.com/

1
Comment #49 by Anonymous posted on
Anonymous
Alliant CU Promo CDs just went down to 4% for reg. 4.4% for Jumbo. Jumbo was 4.9%.

Century Direct Bank of KY also lowered their Online Savings Acct. to 4.01 from 4.54%

1
Comment #50 by Anonymous posted on
Anonymous
NJ Gateway FCU promotional CDS:
4.25 APY 99 days (1K min)
4.50 APY 186 days (1K min)- new funds only

"Anyone who lives, works, attends school or worships in Middlesex County is eligible to join."

Membership cost is a minimum of one membership share at $5. No checking account is required for these promotional rate cds.

1
Comment #51 by Anonymous posted on
Anonymous
4.00% on $10,000+ at Compass Bank

https://www.compassbank.com/special/200803/money_market/index_dallas.html

1
Comment #52 by Anonymous posted on
Anonymous
Commonwealth CU in KY. Membership is open to those who participate in a Kentucy Retirement System.

https://www.ccuky.org/prodserv/rts.html

MMA 4.75% $2,500 to 100K & UP

CDs top out at 4.85% for 84Mo

1
Comment #53 by Anonymous posted on
Anonymous
Christian Financial Credit Union
http://www.christianfinancialcu.com/asp/rates.asp
NCUA insured
ranges from 4.0 - 4.5 from 1 to 5 year cd rates.

1
Comment #54 by Anonymous posted on
Anonymous
http://www.patelco.org/default.aspx

7.00% APY* $1,000 limit. New Member
Special Certificate
Available for new members only. get 7% for 1 yr but there is a $1,000 limit. It's a California credit union but membership is possible by joining a senior club - see their membership page.

1
Comment #55 by Anonymous posted on
Anonymous
Nationwide Insurance now has a direct bank (NationwideBank.com) and is promoting 3.90% APY for a money market savings account with a minimum $1,000 to open. For a low minimum to open, this is a fantastic rate.

1
Comment #56 by Anonymous posted on
Anonymous
Mission City Federal Credit Union www.missioncityfcu.org
Need to be associated with Santa Clara, CA or Santa Clara University. 12-Month CD rate at 4.52%APY. Other great CDs. Haven't changed CD rates since 2006! So...they were real low for a while but now they are meeting the curve on the way down.

1
Comment #57 by Anonymous posted on
Anonymous
Salem Five Direct Rates are all down 10 basis points (for all tiers).

1
Comment #58 by Anonymous posted on
Anonymous
Whats the scoop on this Smarty Pig savings account? Can you find out the low down? Looks to be some social networking savings plan, but the rate is 4.30% APY. Looks like it might work for smaller goaled savers. Looks like you save until you reach your goal, than you are sent a prepaid debit card to get your money.

SmartyPig.com

1
Comment #59 by Anonymous posted on
Anonymous
Interesting development with iGObanking.com...

On the rates page, there is a field for an "iGOChecking" account. However, it's nowhere to be found on the rest of the site.

I'm so excited! I've been hoping they would open this account. And the rate is 2.65%, so almost an entire percentage point better than ING's Electric Orange. Hooray!

1
Comment #60 by Anonymous posted on
Anonymous
Wachovia is offering 3.75% APY on a 9-mo. CD.

1
Comment #61 by debmc (anonymous) posted on
debmc
Pinnacle Federal Credit Union offering a rewards checking account 5.01% APY; I have the account and have for some time, rewards have gone from 4% when I opened it in 2006 to 6% briefly last year and now 5.01%. I just called today, and was told they expect this to continue.

Pinnacle is based in NJ, with branches throughout the central to north part of the state. This place is for real; I also have an IRA CD with them which I've already renewed once. I highly recommend it.

1
Comment #62 by Anonymous posted on
Anonymous
GMAC's 12 months CD is 3.9% apy

1
Comment #63 by Anonymous posted on
Anonymous
Wamu Online Savings down to 3.30%.

1
Comment #64 by Anonymous posted on
Anonymous
National City has extended again their 4.75% or 5%with a checking or savings account 48month CD til April 12.

1
Comment #65 by valuestocksonly (anonymous) posted on
valuestocksonly
countrywide bank currently has a 4.05% Savingslink account. 5k mininum.

https://bank.countrywide.com/scontent.aspx?cmtag=Content-SavingsLinks

1
Comment #66 by Frugal MoneyMan (anonymous) posted on
Frugal MoneyMan
I found a couple local high-yield rewards checking accounts:

http://www.thewcb.com/announcements.cfm?num=91

http://www.crossplainsbank.com/

1
Comment #68 by Anonymous posted on
Anonymous
I just wanted to warn people to get their money to below 100k in Fremont Investment & Loan

From the LA times:
http://www.latimes.com/business/investing/la-fi-fremont29mar29,1,4992578.story

Seeking to preserve the bank's dwindling capital, the Federal Deposit Insurance Corp. barred Fremont Investment from increasing compensation for officers and directors. The FDIC's order, dated Wednesday, prevents the bank from transferring funds to the holding company or affiliates.

Fremont also was ordered to cut its interest rates on deposits to levels typical of California banks and thrifts.

1
Comment #69 by PNS2CLT (anonymous) posted on
PNS2CLT
KeyBank is offering a $100 gift card if you open up a new checking account & have two automated activities of $100 or more within 60 days. The promo's listed on their homepage.

---

Monroe Bank & Trust (www.mbandt.com) has a reward checking account offering ATM rebates & 5.01% APY on balances up to 25K. Not sure if it's limited to their footprint (lower SE Mich).

1
Comment #70 by Anonymous posted on
Anonymous
In today's Louisville Courier Journal, National City Bank has extended the 48 mo. 5% apy CD promotion through 4/26/08. My wife and I recently secured this offering for some IRA accounts.
Without much effort on our part, the NCB branch manager waived the posted requirement for a checking account. Also, we negotiated reimbursement for the incoming wire fees of $11 on each transfer, and they agreed (in writing) to waive any outgoing wire fees ($20) at maturiy of our CDs.

1
Comment #71 by Anonymous posted on
Anonymous
harborcu.com

For those that live in Wisconsin (To be eligible for membership you must live or work in Brown, Door, Kewaunee, Manitowoc, Oconto, Outagamie, Shawano, or Waupaca Counties in Wisconsin or have an immediate family member who is currently a member.) they have a "Go Green Checking" that will give you 5.67% apy (1.05% on anything over $25,000) on money up to $25,000 as long as you do the following each month (cycle)-

1 12 Visa Check Card Transactions
2 Enroll & Receive an eStatement
3 Your Choice: 1 Direct Deposit
1 ACH Auto Debit or 1 Online Bill Pay

if you don't do these things you only get .20% apy

1
Comment #72 by Kinderegg (anonymous) posted on
Kinderegg
M&T Bank $25 on oppening a new Totally Free Checking Account.

http://www.mtb.com/personal/daily/cash_bonus.cfm

1
Comment #73 by Rick (anonymous) posted on
Rick
Central Virginia Bank
offers Rewards Checking now
http://www.centralvabank.com/104788.html
www.centralvabank.com

Not sure on details, I'm not a customer but saw the ad on local tv in Richmond VA

1
Comment #74 by Anonymous posted on
Anonymous
Farmers and Merchants Bank in Indiana and Ohio has a rewards checking:

https://www.fmreward.com/index.html

1
Comment #75 by larkin (anonymous) posted on
larkin
E*trade heading down to 3.01%
(from 3.45%)

1
Comment #76 by Anonymous posted on
Anonymous
Countrywide SavingsLink now down to 4.05% APY for > $10,000

1
Comment #77 by Marc Schoenfeld (anonymous) posted on
Marc Schoenfeld
Two rate decreases I noticed today: Provident CU has dropped their reward checking from 5 to 4% and Schwab checking has gone down from 3 to 2.25%.

I still think the oddest rate is Countrywide's nice 4.2% 12 mo. CD; all the terms around it are lower by 1%.

1
Comment #78 by Anonymous posted on
Anonymous
Attractive long-term CD rates at Northwest Federal CU effective 4/1.

Here's the link

http://www.nwfcu.org/rates/certificate.html

Note you can get 0.25% more on the CD if you open a premier checking account. I don't know all the details about this account, but CSR told me if you have $50,000 in a CD, you qualify for a free premier checking account (no fees) with free checks.

I joined this CU back when they were offering 18-month CD's at 6% APY.

1
Comment #79 by Anonymous posted on
Anonymous
Chase offers a $75 rebate on purchases of $750 on check card.

https://www.chasegetcash.com

1
Comment #80 by Anonymous posted on
Anonymous
The new Bankrate Safe & Sound ratings are now out (based on 12/31/2008 data). There have been some big ratings drops at a number of banks. It's always wise to check before you invest & watch those FDIC insurance limits. Thanks Banking Guy for your great site.

1
Comment #81 by Anonymous posted on
Anonymous
The new Wachovia bank that opened in Adams Morgan DC, 1804 Adams Mill Rd NW is offering a $75 gift card promo for opening a free checking account and also, be sure to ask them if you are available for the "at work" free checking. Apparently since I work for the Federal Gov't, as most DC people are, they have an "upgraded" free checking that gives free first batch of checks which are discounted there after and some fee waivers for applications, HELOCs, loans, etc. It doesn't cost anything extra and as said before, is just another version of the free checking. Some private sector companies may be eligible as well.

1
Comment #82 by cjdtech (anonymous) posted on
cjdtech
LGE Community Credit Union (GA) is offering a 3.5% reward checking account. In addition to 15 check card transactions and the other standard reward checking account requirements, one web bill pay transaction must be performed monthly. Appears to be local only. www.lgeccu.org

1
Comment #83 by Anonymous posted on
Anonymous
schwab checking fell to 2.26% (from 3.01%) :( just put my money in...

1
Comment #84 by Bozo (anonymous) posted on
Bozo
To: All
Re: Vanguard's Money Market Fund

Ticker symbol VMMXX. Rate is 2.82% and falling. You can do much better in most credit unions.

Well, then again, you can do much better in financial stocks these days, but I always get bashed for saying that.

As Vanguard noted with irony in my last breakdown, my % of the total in money market funds was now 1.7%.

Down from 50% I might add. Dang, I did love the days VMMXX went up a basis point or two a day. When it levelled off, and started to go down, I bailed and went into those 5.75% CDs which don't exist any more (except in my portfolio).

A five year CD at 5.91% (yup). Was available at USAA in August 2006. But, then, USAA loves me, since I've been a member since I was an Ensign. KeyBank may not love me, but they have me locked at 5.75% for ten years. State Farm and LaJolla Bank hate me, but their CDs come due in a year or two, respectively. Heck, LaJolla Bank won't even return my phone calls.

Yours,

Bozo

1
Comment #85 by Anonymous posted on
Anonymous
Patelco Credit Union in CA has 4% 12months CD and $50 bonus for new chacking account with more than $100 direct deposit for three months. They are famous for 5.12% HSA account and still offer 7% CD for only new Patelco member.

1
Comment #86 by Bozo (anonymous) posted on
Bozo
To: All
Re: My funny Wachovia story

OK, so it's April 1, April Fool's Day, and my ****ant little $10K CD is maturing at Wachovia. Mind you, this is the remainder of what used to be about $250K when it was World Savings (I began to move out when the takeover happened and rates fell).

So, I wake up per usual at 3:30 in the morning (don't ask, my sleep schedule is ****ed up), go to the Wachovia web page and print out the "special" CD rate effective April 1. It's 3.75%.

So, I motor on down to the local Lafayette (CA) branch of Wachovia to roll over the CD. I have the print-out with me. The branch manager advises the rate "just dropped" to 3.15%. I look horrified (as if a difference of 60 basis points on $10K is a retirement-breaker), the branch manager leaps to the phone. He says, since the web-site said 3.75% effective April 1, that's the deal.

Whew, kept that safety-deposit box (which is the only reason I keep the $10K in Lafayette) and got that extra 60 basis points.

Off to get my senior discount at Marie Callender's.

Am I being a bit too penurious?

Yours,

Bozo

1
Comment #87 by singlepap@gmail.com (anonymous) posted on
singlepap@gmail.com
Sovereign Bank rolled out 2 new bonuses: $150 for 15k; $75 for no-minimum Checking/DD

1
Comment #88 by Anonymous posted on
Anonymous
www.smartypig.com has liquid savings account at 4.30% APY

1
Comment #89 by Anonymous posted on
Anonymous
More rate drops -- Southland CU has dropped the rate on its FREE SUPER CHECKING account to 3.0% APY from 4.5% APY.

1
Comment #90 by Anonymous posted on
Anonymous
Heartland Credit Union offers 5.50% rewards checking up to $25K.

https://www.heartlandcu.org/rewards/index.asp

Must:
? Receive eStatements
? Access Online Banking
? 12 posted VISA CheckCard transactions
? One Direct Deposit

12 posted transactions includes both debit and credit transactions.

"Anyone living or working in these counties qualifies:

Wisconsin: Dane, Grant, Iowa, Crawford, Lafayette, Sauk, Richland, Dodge, Green, Rock, Jefferson, Columbia or Vernon County

Iowa: Allamakee, Clayton, Dubuque, Winneshiek, Chickasaw, Bremer, Fayette, Buchanan, Delaware, Jackson and Jones County

Illinois: Boone, Jo Daviess, Stephenson & Winnebago County"

FrugalBoyDave
Madison WI

1
Comment #92 by Anonymous posted on
Anonymous
Found your review on Jan 16 on Heartland Credit Union, please delete above comment.

1
Comment #93 by debmc (anonymous) posted on
debmc
Just an FYI -- For anybody still interested in the Susquehanna Bank checking bonus offer, it's been withdrawn. It was supposed to have run until 4/15/08; when I called this morning to refer my niece and her boyfriend, I was told the offer is no longer valid.

1
Comment #94 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the update on the Susquehanna Bank checking promotion. Sorry to see it end early. I've updated that post with this info.

1
Comment #95 by Anonymous posted on
Anonymous
Random increase at ING - 9 month CD at 3.25%. Everything else is the same, the 9 mo. CD is the only one that increased.

1
Comment #96 by Anonymous posted on
Anonymous
Saddle River Bank in NJ is advertising a 4.08% Statement Savings account.

www.srvbank.com

As far as I can tell, they have just one branch in Saddle River NJ.

1
Comment #97 by Anonymous posted on
Anonymous
MYCCCU.COM has 4% 7-9 month cds.
with 1k/10k min/max

asi only easy membership

1
Comment #98 by J (anonymous) posted on
J
Page C8 of yesterday's LA Times had an ad for 4.50% APY FDIC Insured 12 Month CD. It is through Best Interest Financial Group in Camarillo and Glendale. I have never heard of these guys, They say CA Lic# 0D20676. Apprently they are CD brokers? they do not have a website, but their numbers were camarillo - (805) 388-5979 and Glendale - (818) 291-6415. Any Ideas?

1
Comment #99 by Banking Guy (anonymous) posted on
Banking Guy
This January post describes the kind of companies that sell these CDs and their business model.

1
Comment #100 by Anonymous posted on
Anonymous
Special Offer from EverBank ---
The World Energy CD
The global demand from developed and emerging markets for energy resources continues to grow. Concern about the geopolitical risks associated throughout the Middle East continues to grow. That’s why EverBank developed the New World Energy Index CD, which combines the foreign currencies of 3 non Middle Eastern countries rich with energy commodities into a single CD.
Until April 16
http://www.everbank.com/001CurrencyCDIndexNewWorldEnergy.aspx?referid=11639

1
Comment #101 by Anonymous posted on
Anonymous
Sovereign Bank is offering a sign up bonus for their business checking account worth up to $300. Details at their website.

1
Comment #102 by tuphat (anonymous) posted on
tuphat
From today's WSJ --

• The News: Cerberus and GMAC are lobbying the FDIC for a waiver to allow GMAC to keep GMAC Bank, a small but crucial asset.

• Why It Matters: GMAC's struggling ResCap unit is relying more on GMAC Bank for cheap, stable funding, and GMAC is a big investment for Cerberus.

• The Challenge: The waiver isn't a sure thing: The FDIC could be seen as giving special treatment to Cerberus and some high-profile Republicans who work for it.Cerberus has until November to get a waiver from the Federal Deposit Insurance Corp. that will allow the group's continued control of GMAC Bank, a so-called industrial-loan corporation. ILCs are FDIC-supervised lenders that offer a way for commercial firms to own banks without being regulated by a federal banking agency.

Full article: http://online.wsj.com/article_print/SB120779575666704089.html

1
Comment #103 by Anonymous posted on
Anonymous
Not terribly exciting but:

OnBank, a division of M&T Bank. No minimum, no fee online savings account, 3.49% APY. Also 24-month CD for 3.14% APY.

www.onbank.com

1
Comment #104 by Anonymous posted on
Anonymous
fFirst, apologies if this is the wrong place to ask my question; if it is, please direct me to the proper place. I am new to the "turbo-charged" checking progams, but willing to learn. My question concerns the 10 or 12 monthly debit card transactions. Specifically, how do you keep the charges as low as possible? In my case, I would be depositing money I would not normally be spending, just earning interest on. I don't want to end up eating into the interest anymore than absolutely necessary, but still satisfy the debit requirements. Hope I have not managed to make this too confusing! Thank you for any advise.

1
Comment #105 by ShraZZy (anonymous) posted on
ShraZZy
Tell you question on answers.yahoo.com

1
Comment #106 by debmc (anonymous) posted on
debmc
I have one of those accounts, anonymous, and what I do is charge things like coffee (all Dunkin' Donuts in my area accept debit cards for any size purchase), fast food (ditto fast food chains), and small purchases of no more than $20. I find I don't have any trouble at all meeting the 10 debit transactions requirement. I also found that if I automatically debit my account with certain vendors, and use the debit card rather than the checking info, it shows up as a purchase, which also satisfies another debit transaction requirement. It's really not that hard, and the rewards are way worth it! :) Hope this helps!

1
Comment #107 by debmc (anonymous) posted on
debmc
Indus American Bank, with branches in several areas of New Jersey, currently has a 4.50% APY 18-mo CD, $500 minimum deposit, which are valid for IRA CDs. I'm not sure when the offer will expire; I just talked to a CSR at the Iselin NJ branch, who advised me a branch visit is necessary, and the offer has no set expiration date right now. I have had CDs with this bank before at favorable rates and terms, and although they're not a huge operation and they are a fairly new bank, I have found the experience to be satisfactory and basically without problems.

1
Comment #108 by Anonymous posted on
Anonymous
Thanks, debmc. Your comments are very helpful. I'm retired and live in a somewhat isolated area, but for 6% interest, I'm going to do this.

1
Comment #109 by debmc (anonymous) posted on
debmc
You're welcome. Just be careful, because some of the requirements for debit card transactions require signature-based transactions, and you need to understand and define with the bank exactly what that means to you.

Another thing I do is ask the vendors where I'm using the debit card to split up the transactions. Especially when they conveniently forget to include something I ordered. This happened to me twice last week, and netted me a total of four debit transactions. :)

1
Comment #110 by Anonymous posted on
Anonymous
Savoy Bank, 1675 Broadway, NYC, is now paying 3.67% apy on a 12-mon. CD, minimum investment $2K.
--anonymous

1
Comment #111 by Anonymous posted on
Anonymous
IndyMac Bank - online only, 6 mo and 1 year CD's are yielding 4.15%.

1
Comment #112 by Banking Guy (anonymous) posted on
Banking Guy
Thanks. I posted on the latest Indymac 6mo CD on Tuesday.

1
Comment #113 by Anonymous posted on
Anonymous
ING has a 12-month CD at 3.30%. The 9-month CD is also down to 2.50%.

1
Comment #114 by Anonymous posted on
Anonymous
Countrywide CD's and SaingsLink dropped

1
Comment #115 by Anonymous posted on
Anonymous
Credit Union of Southern California www.cusocal.org and Visterra Credit Union www.visterracu.org have announced they will merge. Visterra serves Riverside County; CUSoCal serves Orange County, the San Gabriel Valley "and cities in between." Neither CU has sensational deals at the moment, but they might when the merger is complete. BankingGuy, would you keep an eye on them for us?

1
Comment #116 by Anonymous posted on
Anonymous
I found that Citibank is advertising "callable" CDs between 5.35-5.75% in NJ/NY. Min term that will not be called is 6-12 months. The maturity is 13-20 years. My question is: if it is called, I will get 100% back. Obviously, I do not wait until maturity. If it is not called back or if I want to redeem("sell") before, what the choice? I heard you can sell them in secondary market but price not guaranteed. Does any one know how does this work and what the risks are? Does it have also impact of the market interest rates on price, similar to bonds? TIA.

1
Comment #117 by Cyclone (anonymous) posted on
Cyclone
My rep called me today about Wachovia's new rates.

3.15% APY 9-mo
3.00% APY 18-mo
3.75% APY 36-mo
4.25% APY 48-mo
4.75% APY 60-mo

This is in South Florida. No clue about the rest of the country.

1
Comment #118 by Anonymous posted on
Anonymous
Indymac 4.07% Apy money-market.

http://www.imb.com/Individuals/Banking/page.asp?pSection=OnlineEMMRate

1
Comment #119 by Bozo (anonymous) posted on
Bozo
RE: Callable CDs

Read the disclosure. As a rule of thumb, "callable" CDs operate in only one direction => the issuer. You can't redeem (i.e., get your money out without penalty) but they can "call" (send you a check for the balance, plus interest accrued) at any time beyond the "lock". It protects the issuer if rates fall, ergo, somewhat higher rates are offered.

Hope this helps.

Yours,

Bozo

1
Comment #120 by Bozo (anonymous) posted on
Bozo
PS on callable CDs

Now, mind you, I have never, ever, bought a callable CD. However, if I did, I would want to check and see if it were marketable. If you buy a CD through a brokerage (Schwab, for example), you can always check and see whether you can redeem it prior to maturity.

I, for one, think callable CDs are unwise investments.

Just my $.02.

Yours,

Bozo

1
Comment #121 by Anonymous posted on
Anonymous
About callable CDs. You might check out https://www.auctions.zionsdirect.com/ . See also "FDIC-Insured CDs" on the left side.
Banking Guy, what are your thoughts on these auctions?

1
Comment #122 by Anonymous posted on
Anonymous
Get a $100.00 donation to your favorite charity or a $50.00 VISA gift card for yourself when you open a checking account with Sun Trust. There are very little requirements to receive the bonus. They offer six different personal checking accounts, one of which is a free checking account with no minimum balance requirements. Offer is good through June 30, 2008. Here’s the link:

https://promotion.suntrust.com/mycause/

I already have an account with Sun Trust and I have no complaints about their service.

1
Comment #123 by Anonymous posted on
Anonymous
I-bonds
http://clarkhoward.com/shownotes/category/7/76/352/
Note that it's 5k/ss#

1
Comment #124 by tuphat (anonymous) posted on
tuphat
Interesting that retail CDs are mentioned as one part of National City's rescue/recapitalization plan. See link below to live-blog of today's analysts call, 1112 entry.

http://blogs.wsj.com/marketbeat/2008/04/21/live-blogging-the-national-city-earnings-call/?mod=WSJBlog

1
Comment #125 by jchaugen (anonymous) posted on
jchaugen
Great Wisconsin CU is offering a new account bonus for their checking accounts ($50 min to open). $75 for opening + $25 for refering a friend (only one referal though). The $75 will be available after six months.

Bonus advertised on local radio Madison, WI with reference to the website, but I was unable to find the deal online.

Spoke to CSR and she was very helpful stated it also requires monthly direct deposit (no min), and checks or check card.

1
Comment #126 by Anonymous posted on
Anonymous
Way2save bonus interest for June, July, and August

http://www.wachovia.com/way2savegolf

If historical results play out... Rate could be anywhere from 10 to 13%.

1
Comment #127 by David Cowen (anonymous) posted on
David Cowen
Sovereign Bank is offering a $75 and $150 bonus for two different checking accounts. Details are here:

http://www.sovereignbank.com/checking-accounts/premier-checking-account.html?cmp=8q2&prd=pre&sou=sov&pos=billboard

1
Comment #128 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for posting this promotion. I have more info on it in this post.

1
Comment #129 by Anonymous posted on
Anonymous
Received a promotion in the mail for a new internet account from Newtown Savings Bank located in Fairfield County, CT. It is called U-Sweep and has an apy of 3.50% with no fees and no minimums. Application must be printed and mailed or faxed. Site is www.nsbusweep.com

1
Comment #130 by Anonymous posted on
Anonymous
I found a Great Checking Account at 5% APR with Community West Bank in California.
You do need to visit one of their branches located in Santa Barbara, Santa Ana, Ventura County.
The requirements to qualofy this APR are 10+ monthly debit card purchases and 1 direct deposit or 1 automatic debit payment transaction. Plus you need to recieve e-statement and access at least once your online account.
Details are
http://www.communitywestbank.com/personal/PersonalChecking.aspx#grc

1
Comment #131 by Anonymous posted on
Anonymous
BB&T offered free checks, ID Theft Insurance, and a $40 annual rebate when you open a free checking account.

After reading further you find out that it is actually an ad on package that they normally charge about $5 a month for.

Seems like a pretty good deal. Anyone else seen this offer?
http://www.bbt.com/bbt/plusdiscounts/

1
Comment #132 by Anonymous posted on
Anonymous
HSBC Bank Canada has boosted the interest rate for new deposits to its Direct Savings Account to 4.75 per cent to reward Canadian savers. This online high rate savings account can be set up at www.hsbcdirect.ca. The HSBC introductory interest rate for online savings accounts is one of the highest in the country.

1
Comment #133 by Anonymous posted on
Anonymous
AmegyBank of Texas has attractive tiered rates on their Personal Internet Money Market Account, 1k min (to avoid fees), has atm access (but fees for non-Amegy ATMs). 1-9.99k 3.35% yield; 10-24.99k 3.65%;. Application seems nosy; wants to know your occupation, employer, source income, as well as personal info with driver's license # (that's normal for bank accounts).

1
Comment #134 by Anonymous posted on
Anonymous
ING CD rates for 6, 9 and 12 months are all 3.30%.

1
Comment #135 by Anonymous posted on
Anonymous
Community West Bank
Rewards Checking
5.00% APY up to $25,000

Requirements:

-Use your check card at least 10 times per cycle
-Establish at least 1 direct deposit (such as payroll or government check) or 1 automatic debit (such as mortgage or car payments)
-Receive electronic statements monthly
-Access Online Banking at least once each cycle

You do need to visit their branch to complete the application.

1
Comment #136 by ShraZZy (anonymous) posted on
ShraZZy
GMAC raised their long term CDs

1
Comment #137 by Anonymous posted on
Anonymous
Merril Lynch knows squat. I put them right in the same league as Abbey Jos Cohen from Goldman Sachs.....she predicted the S&P at 1525 a few years ago. What a total idiot. Inflation is so high and now that the genie is out of the bottle, no one can get it back in. Surely not helicopter Ben. Hope everyone enjoys their $600 "stimulus" check as the Fed keeps cutting. What a total joke.

1
Comment #138 by Anonymous posted on
Anonymous
Eastern Financial Florida Credit Union has a High Yield Checking Account that pays 6.01% annual percentage Link for membership information
yield.http://www.effcu.org/default.aspx?id=116

Account Requirements
1. Use your MoneyPlus debit card a minimum of 12 times per month for purchases.

2. Initiate one Direct Deposit or an electronic automatic transaction each month. (Transfers between your existing EFFCU accounts do not satisfy this requirement). Electronic transactions may be made on any EFFCU account on which you are listed as primary owner. Most Bill Payer payments qualify.

3. Sign up to receive your statements electronically within 10 days of opening your account. Instructions below:

1
Comment #139 by Mario (anonymous) posted on
Mario
University Federal Credit Union in Austin, TX:

$50 graduation gift for graduating seniors - need to visit one of two specific branches - exp. 5/31/08

I wish this would have been around when I graduated ... :)

Some details here:

https://www.ufcu.org/about/contests/2008_04_15_graduating_seniors.php

It doesn't say much about who is eligible. The wording implies it is geared towards those who already are members. It doesn't specify if it's limited to Univ of Texas graduates (where the specific branches are located) or if it's open to recent fall graduates etc.

1
Comment #140 by Marc Schoenfeld (anonymous) posted on
Marc Schoenfeld
not huge news, but countrywide has bumped their cd rates for certain terms 5 bps over the online rates for certain zip codes. 94133 is one of them. ad in local paper had the higher rates listed.

1
Comment #141 by Anonymous posted on
Anonymous
New Savings Bonds Rate:

EE Bonds: 1.40%

I Bonds: Fixed Rate =0.00% (that is not a typo, it is 0.00%)

Rate = 4.84%

1
Comment #142 by Anonymous posted on
Anonymous
5% APY National City ends Sat

1
Comment #143 by Anonymous posted on
Anonymous
ufbdirect down to 3.01 following fed cut I guess...

1
Comment #144 by ShraZZy (anonymous) posted on
ShraZZy
GrandYield Direct down from 3% to 2.75%

1
Comment #145 by ShraZZy (anonymous) posted on
ShraZZy
GMAC 1 year cd now at a nice 4.10% rate =]

1
Comment #146 by Anonymous posted on
Anonymous
AARP Financial Savings Center is offering High-Yield Savings accounts at 4.50% APY with only a $1 minimum. Check it out at www.aarpsavings.com

1
Comment #147 by Anonymous posted on
Anonymous
re: AARP Savings: 50K min. bal. will yield 4.75%. If you have a large CD coming due this may be a good place to park it. Thanks so much for posting this!!

1
Comment #148 by Bozo (anonymous) posted on
Bozo
To: All
Re: Long-term ladder planning

With all the ups and downs of late, the best-kept secret is the stability of really-long rates. KeyDirect is still a smidge over 5% for a ten-year jumbo (over $50K). Now, that's not as good as it was a few months back (5.75%), but it's still over 5%. If you (as I) have a ten-year ladder, anything over 5% is a gift.

Yours,

Bozo

1
Comment #149 by Bozo (anonymous) posted on
Bozo
To: All
Re: Long term rates versus inflation

I know some may argue locking in 5% (or a tad over that) for ten years is unwise, given the way inflation is going. OK, I give you that argument, if you lock in all you have. The point is to ladder; for example, 10 CDs at $50,000 each, each maturing at one-year intervals.

Moreover, you should have a fair amount in stocks, bonds, and real estate (don't gag, real estate won't be down forever).

As a rule-of-thumb, I always shoot for 1/3 cash (CDs and bonds), 1/3 stocks (with 20% of those in international exposure), and 1/3 real estate.

Over 40 years, it has worked quite well. Of course, the key is and was to spend less than you make, which is not exactly the norm.

Yours,

Bozo

1
Comment #150 by Anonymous posted on
Anonymous
Sun National Bank (sunnbnj.com) has some competitive checking and saving and cd accounts; their Checking Rewards account has interest 3.00%, was 3.25% for a while, free use of other banks ATMs and reimbursements (when min daily balance $2500 maintained),

1
Comment #151 by Mike (anonymous) posted on
Mike
United FCU in Michigan (and other states) has a new interest plus checking.

6.01%/25K cap

$25 per month ATM refund

10 debit card transactions required per month

1 Direct Deposit or ACH required per month

Electronic statements required

1
Comment #152 by Anonymous posted on
Anonymous
People's State Bank based in Wausau, WI (www.psbwi.com) is offering a Rewards Checking Program:

FREE Nationwide ATM Usage (fees refunded at the end of the month)
4.51% APY on your checking
balance up to $25,000

.25% if req's arn't met
1.00% over 25k

same req's as most...
1 dd
10 debit card purchases
recieve statements online.

1
Comment #153 by Anonymous posted on
Anonymous
I've been trying to reach the New York office of State Bank of India, (212)521-3200, but none of the numbers are working - main number, fax number, direct numbers, etc. ("All circuits are busy now")

Anyone know why this might be happening? Perhaps they're having phone problems?
N

1
Comment #154 by Bert (anonymous) posted on
Bert
Some of the funky requirements make you jump thru hoops to get the "deal".

Do you personally feel that you increase your yield enough to justify the additional requirements or do you think buying brokered CD's which do not have the funky requirements are a better deal.

I place my CD orders with Ameritrade. I find return to be competitive . When CD's mature funds are automatically placed in TDAM sweep account paying around 2% currently.

Free ACH transfers. No direct deposit required. Funds FDIC insured. Very easy to manage.

1
Comment #155 by Mike (anonymous) posted on
Mike
"Go Green Rewards Checking" at RCB Bank in Oklahoma offers 5.10% APY rewards checking (electronic statements, login at least once per statement cycle, and at least 12 Visa check card transactions per statement cycle).

http://www.rcbbank.com/index.cfm?objectid=30166C10-F8C6-E230-84355E38B48BF108

1
Comment #156 by jjgom (anonymous) posted on
jjgom
If you live in South Jersey near Philly, there is a small but growing bank, Liberty Bell Bank, that offers 4% for an online personal checking acct (up to 15k), and 5% for a business account (up to 50K). see http://www.libertybellbank.com/index.lbb
for details.

1
Comment #157 by jjgom (anonymous) posted on
jjgom
In south New Jersey (Cherry hill, Moorestown) Liberty Bell Bank

http://www.libertybellbank.com/index.lbb

4% for online personal checking account (up to 15k)
5% for business checking account (up to 50k)

1
Comment #158 by Anonymous posted on
Anonymous
In south New Jersey (Cherry hill, Moorestown) Liberty Bell Bank

4% for personal checking
(up to 15k)
5% for business checking
(up to 50k)

http://www.libertybellbank.com/index.lbb

BTW, tried to log in via AIM 3x, won't work

1
Comment #159 by Jeff in Illinois (anonymous) posted on
Jeff in Illinois
People's State Bank appears to no longer be offering their reward checking program - could find no reference of it on their web site: http://www.psbnewton.com/. (This program was mentioned in your blog here: http://bankdeals.blogspot.com/2007/07/610-reward-checking-account-at-illinois.html). I have not called them, but I would think there would be at least some mention of it on their site if they still do it.

1
Comment #160 by Anonymous posted on
Anonymous
Bankguy, I'm sure you already know this: Air Academy FCU MAX Reward checking to 4.50% APY effective 6/1/2008.

1
Comment #161 by Hustler (anonymous) posted on
Hustler
New Chase $125 bonus good until July 31st

http://www.hustlermoneyblog.com/chase-125-bonus-good-until-july-31st/

1
Comment #162 by Frugal Frugalson (anonymous) posted on
Frugal Frugalson
E-Loan is guaranteeing a 3.75% APY on a savings account for new savings customers through 7/31/08.

It's not clear what qualifies someone to be a "new savings customer" though. For example, what if you have E-Loan CDs, but no savings account there?

They've also bumped CD rates up a bit.

1
Comment #163 by Anonymous posted on
Anonymous
Connecticut State Employees’ Credit Union (CSE)

4.34% APY share savings
http://www.csecreditunion.com/cse/main/saving_rate.asp

1
Comment #164 by Anonymous posted on
Anonymous
iGObanking.com launched the iGOchecking account. It says that a MasterCard will be available soon.

Sounds like they are pitching it as a complement to the iGOsavings account. I might open the checking account so that I can access my iGOsavings funds at an ATM.

Also the rate isn't terrible... 2.65% APY. Much higher than Electric Orange, for the bottom tier anyway.

1
Comment #165 by Anonymous posted on
Anonymous
Nine branch bank closed by FDIC
http://biz.yahoo.com/ap/080509/bank_closed.html?.v=4

Federal regulators says they've closed ANB Financial National Association banks after discovering "unsafe and unsound" business practices there.
David Barr, a spokesman for the Federal Deposit Insurance Corp. says many customers served by the bank's nine locations had accounts under $100,000, which will be fully insured by the government. Barr says customers can continue to write checks and draw money from ATMs through the weekend.

Barr says Pulaski Bank and Trust Co. agreed to assume control over ANB Financial's bank locations, which will be open Monday.

1
Comment #166 by Anonymous posted on
Anonymous
One more thing about the iGOchecking account MasterCard... it charges you $1 for a point-of-sale PIN-based transaction, but there is no-charge for point-of-sale signature-based transactions.

There must be some reason why signature-based is better for them (PayPal, for example, gives 1% cash back for signature but not for PIN transactions). Does anyone know why that is?

1
Comment #167 by Reynolds (anonymous) posted on
Reynolds
AARP Jumbo Money Market Account Update:

Buyer beware: Hard Credit Report ding for me with my opening up the Jumbo MMA.

Also, reading the fine print: Initially, money is placed with Huntington Bank. But the fine print states that they have the right to put my money in any FDIC bank they choose, at any time. Currently, they only have two banks they are dealing with for the Jumbo MMA: Huntington and Countrywide. They absolutely can transfer your money to Countrywide and they absolutely could add additional banks in the future.

AARP.org gets paid money for the use of their name and organization as their members open these accounts. AARP does not pay out any money nor subsidize these accounts.

From the disclosure info:

"AARP and AARP Financial Inc. receive fees from Waterfield Financial Services Inc. for AARP's license of its intellectual property and AARP Financial Inc.'s oversight of the AARP Financial Savings Center."

So, it is Waterfield Financial that is managing these accounts and choosing the banks.

Waterfield Financial has to be making money from these accounts, otherwise it could not afford to pay the fees to AARP.org, nor could it sustain 4.75% APY on the Jumbo MMA.

So, be careful here people. How is Waterfield making the extra money? Do they attempt to sell you other products? Do they sell your financial information to other companies who might try to sell you stuff?

I think some kind of investigation is in order here for our peace of mind.

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Comment #168 by Chester (anonymous) posted on
Chester
Waterfield Financial Corp. is a mortgage company.

It was bought out in 2006 by American Home Mortgage.

American Home Mortgage decided to allow Waterfield Financial Corp. to stay running under their original name.

You can see why Waterfield would choose Countrywide as one of their banks since both Countrywide and Waterfield issued mortgages at lower cost or market value, etc.

Bottom line: Your AARP Savings or Money Market account is being managed by a mortgage company who is placing your money in an FDIC insured bank.

Now armed with this information, can anyone figure out how Waterfield can profit enough to cover the higher interest paid on the savings and jumbo money market accounts? What is it they are doing?

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Comment #169 by Anonymous posted on
Anonymous
The new Eloan promotional rate of 3.75% is only good through 7/31/08. Then the interest rate drops to the standard rate, which is now 3.01%

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Comment #170 by djc314 (anonymous) posted on
djc314
I worry about the AARP deal. I opened the account and everything is going fine. However, if they move my mone to Countrywide I will then be over the FDIC protection of $100K as I already have money at Countrywide.

I can not find any information that says AARP will notify if a move is made of your money only that they have the right to move it...any help out there?

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Comment #171 by Michael (anonymous) posted on
Michael
To DJC314,

It is important that you call AARP Savings and officially request that your money not be moved from Huntington to Countrywide.

I believe that they allow this request to be made.

Make sure you inquire if you need to make this request in writing.

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Comment #172 by methridge (anonymous) posted on
methridge
Tax Stimulus 5.09% APY 10-month CD!
$300 min/$1,200 max
http://www.wingsfinancial.com/asp/general_40.asp

Unfortunately very restrictive membership to those in the airline industry:
http://www.wingsfinancial.com/asp/membership.asp

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Comment #173 by Anonymous posted on
Anonymous
3.05% checking account Plainsboro, NJ, call 609-750-0200

Plainsboro Office
Plainsboro Plaza Shopping Center
11 Schalks Crossing Rd.
Plainsboro, NJ 08536
1-609-750-0200
plainsboro@1stconstitution.com
1stconstitution.com

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Comment #174 by Anonymous posted on
Anonymous
I got an email from AmBoy Direct offering "We want you back" CD's for 3.5%. Min. 10 grand with 6 and 12 month terms. Not the greatest by any means, but thought I would mention it. I'm not sure if it is only available to current account holders. I liked AmBoy when they had good rates but have switched to greener pastures.

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Comment #175 by infirm (anonymous) posted on
infirm
I don't know if this has been posted before, but California-based First Entertainment Credit Union is offering a 7% APY on the first $500 in their savings account, provided you have a checking account, sign up for e-statements only, and use either their direct deposit or online bill paying site. http://www.firstent.org/promo/promo_2008_04.html

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Comment #176 by infirm (anonymous) posted on
infirm
Also at FirstEnt -- 3.70% 7-mo CD (certificate), $1000 min. I heard about First Entertainment through this site and have had good experiences, though they have now closed their NYC branch (where I originally signed up).

http://www.firstent.org/images/banner21.jpg

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Comment #177 by Anonymous posted on
Anonymous
Although technically this is not a bank deal, it could be an instant 15% cash return on your money. Kroger, Albertson’s, Sears, and K-Mart all add 10% value to a gift card if purchased with your tax refund stimulus check. Since we shop at Kroger I bought four of their gift cards. (You can buy up to four at Kroger. The maximum amount on a gift card is $330.00 which is purchased for $300.00). However, rather than using a check or cash to purchase the card, I used my credit card. I will get 5% cash back on the credit card, plus I received an additional 10% cash value on the Kroger card that I bought. (In addition to groceries, one can use the Kroger gift card for gas purchases at the Kroger gas stations.)


There are a few of things to take into consideration when one buys gift cards. First, anyone can use them and if they are lost or stolen you will not receive your money back (so hang on tight to your cards!). Second, if the company goes into bankruptcy, gifts cards are viewed by law as an “unsecured loan” to the company from which you purchased your card. Therefore, one should make sure that whichever store you choose to buy a gift card is financially sound. Last, one should check to see if there are any expiration dates or fees involved with the gift card. With the Kroger card there are none.

Like I said, this really isn’t a bank deal, but I did feel pretty good in getting an instance 15% return ($180.00) on my money today!

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Comment #178 by Bozo (anonymous) posted on
Bozo
To: All
Re: Gift card "bonuses"

Initially, you had to bring in your check, and cash it, to get the "bonus" gift cards. Then, oops, somebody pointed out many folks were getting direct deposits, and had no "check". Then, somebody pointed out that "rich folks" didn't qualify for the stimulus, and were the "target of discrimination" (egads!!!!!), so they didn't get a check or the direct deposit.

So, basically, many retailers threw in the towel, jerked up their prices 20%, then gave everyone a 15% discount.

Is that American, or what?

I love America, ever inventive.

Yours,

Bozo

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Comment #179 by Anonymous posted on
Anonymous
etrade has been offering something they
call max-rate checking, for some time
which currently pays 3.25 APY on balances over 5k. The rate hasn't changed in a few months.

It's a basic checking account, does not
require online statements, or debt card
transactions to qualify.

Did not require a credit pull to
open (I've got my credit files frozen
so I know for sure if when credit pulls
happen).

high level details about they accounts
and rates can be found here:
https://us.etrade.com/e/t/banking


By way of comparison the etrade complete savings account requires: online statements, pays only 3.15 APY (rates have been lower than max-rate checking for months), requires a min-balance of
nothing, has a limit of 6 withdrawals
per month.

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Comment #180 by Anonymous posted on
Anonymous
I just received and email from FNBO direct:

"How are we doing? We would like to know."

When I went to take the survey (immediately upon receiving the email) I got a message stating they have already had enough reponses.

Good thing AARP came along and received all the cash I had at FNBO.

I guess they knew I wasn't going to give them at good response.

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Comment #181 by Anonymous posted on
Anonymous
A Good Article on those High-Yield Bank Accts

http://www.marketwatch.com/News/Story/Story.aspx?guid=9b9b180d8b25496797f0df7b84e904ba&siteid=nwhpf

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Comment #182 by Bill (anonymous) posted on
Bill
Bank Deals received a mention in the New York Times today (May 17, 2008), in the Five Basics for Building a Solid Financial Future column by Ron Lieber. The paragraph in question:

Thankfully, a number of Web communities and blogs have grown up around almost every aspect of spending and saving. Travelers and collectors of frequent-flier miles have FlyerTalk. FatWallet is terrific on credit cards. Another site, the Bank Deals blog, is a great resource for new high-rate account offerings. A separate site, Consumerist (both the blog posts and the comments), is strong on advice for anyone who feels as if they have gotten a bad deal from a particular retailer or service provider. And committed index-fund investors hang out at the Bogleheads investment forum.

occurs on Web page 2 of the article under the heading, PEERS MAY KNOW MORE THAN PROFESSIONALS.

[Emphasis added]

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Comment #183 by Anonymous posted on
Anonymous
I am wondering if you could do a story on CDARS.

This is where a bank spreads out your money to various other banks so that all of your money (even above 100K) is insured.

Is this as good as it sounds or are there any pitfalls I should be aware of?


Here is an example:

http://www.saddlerivervalleybank.com/cdars.html

http://www.bankrate.com/brm/news/sav/20030820a1.asp

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Comment #184 by Anonymous posted on
Anonymous
Arizona Bank & Trust is offering 6.01% on a Reward Checking account. I haven't looked into it yet, but it's worth checking out.

http://www.arizbank.com/announcements.cfm?num=85

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Comment #185 by preferred stocks (anonymous) posted on
preferred stocks
Eriebank has a 4% wow checking . 1st bank in this area to offer one . GE fcu was 1 st credit union to offer it

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Comment #186 by Michael (anonymous) posted on
Michael
Dear Bank Guy,

I found this by doing more Google searching of the ABA Routing Number AARP Savings says people can use to wire money to fund your Jumbo MMA account:

Did anyone else realize that Waterfield and Huntington Bank are also offering the exact same kind of account as at AARP Savings at:

http://www.
teamsterbankingcenter.com/mm.aspx

...only the rate paid is only 3.5%?

Go to the site and see it is laid out exactly like AARP Savings, only in a different color.

They say it is exclusively for Teamsters members. So, if you are a member of the Teamsters, you get 3.5% on your Jumbo MMA, yet if you are a member of AARP you get 4.75%. Why doesn't anyone tell the Teamsters that they are less valuable than AARP Members? Why doesn't anyone tell the Teamsters members they can join the AARP even as an Associate Member and then get 4.75%?

Let the comments begin.

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Comment #187 by Anonymous posted on
Anonymous
Wachovia's new feature CDs

3.15% APY 9-mo
3.25% APY 12-mo
3.30% APY 18-mo
3.50% APY 24-mo
3.75% APY 36-mo
4.25% APY 48-mo
4.75% APY 60-mo

This is in South California and not list in their web

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Comment #188 by Anonymous posted on
Anonymous
SERIOUS ISSUE WITH AARP SAVINGS ACCOUNTS:

I have just learned something from AARP Financial Savings that should be a serious consideration for anyone considering getting involved in that account.

They tell me any deposits by personal checks will not start to earn interest until AFTER the check clears and the money is received from the other bank -- which they say could take up to 10 days.

While the check might very well clear faster, and the money be at AARP sooner than 10 days, you will still lose some days of interest and could lose as many as 10 days of interest.

In my experience, this is very unusual for a bank. All banks I have dealt with start the interest the day they receive your check -- although they will put it all on hold until the check clears.

On, say, a check for the jumbo savings account totaling $75,000, the interest lost for merely two days would be about $19.52, and for 10 days it would be about $97.58.

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Comment #189 by Pierre (anonymous) posted on
Pierre
Thank you, Anonymous, for the AARP check deposit warning.

This can be fixed in the long term by setting an ACH relationship with an external bank. Use your external bank to ACH your funds into your AARP Savings account. If the money is received via either ACH transfer or wire transfer, the money makes interest from AARP immediately after receipt.

Do not mail a large amount check to AARP. Do an ACH transfer.

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Comment #190 by Anonymous posted on
Anonymous
It appears, Bank Guy, that Waterfield is managing many accounts, and not just AARP Savings and the Teamsters Bank:

Some other Websites related to Waterfield and the highest rate you can get as of 5/20/08:

www.nationalinterbank.com (2.70% APY)
www.ufbdirect.com (3.00% APY)
www.afibankingcenter.com (3.25% APY)
www.afsabankingcenter.com (3.00% APY)
www.amabankingcenter.com (3.25% APY)
www.boatbankingcenter.com (3.00% APY)
www.caattorneybankingcenter.com (2.75% APY)
www.iaff-fcbankingcenter.com (3.75% APY)
www.jnetbankingcenter.com (3.00% APY)
www.lualumnibankingcenter.com (3.00% APY)
www.nrabankingcenter.com (3.00% APY)
www.nualumnibankingcenter.com (3.00% APY)
www.nursesbankingcenter.com (2.75% APY)
www.nwfbankingcenter.com (3.25% APY)
www.realestatebankingcenter.com (2.75% APY)
www.texasvfwbankingcenter.com (3.00% APY)
www.veteransbankingcenter.com (3.25% APY)
www.vtalumnibankingcenter.com (3.25% APY)
www.nafebankingcenter.com (3.25% APY)
http://www.afabankingcenter.com (2.75% APY)


I've added the current APY as of 05/20/2008 for the Jumbo Money Market Account (or Jumbo Savings if the Jumbo Money Market Account was not offered at a particular site) at each of the above sites. It's interesting to note that out of these 20 organizations not one of them even comes close to the current 4.75% APY being offered through the AARP for the Jumbo MMA. The 3.75% at the International Association of Firefighters site is the only "high" rate that stands out in the above list.

So are the rates at AARP simply teaser rates to supply a quick and large influx of cash and then they will be adjusted to be in line with the above rates? Time will tell. Perhaps they are hoping that after people go through the trouble of applying for and setting up these AARP accounts most people will not move their money out if the rates are adjusted to be in line with the above rates.

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Comment #191 by Anonymous posted on
Anonymous
First State Bank, a community bank, with branches in Macomb County Michigan (Metro Detroit) has an iPod offer til June 12th. Shuffle or Nano for new checking and savings accounts with direct deposit. Details at:
http://www.thefsb.com/ipod.html

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Comment #192 by Anonymous posted on
Anonymous
AmTrust e-Savings dropped to 2.75%. I beleive that has been the second drop in the last few weeks. :(

1
Comment #193 by Anonymous posted on
Anonymous
questioning Keydirect, does anyone have info about them. Supposely a 5% apy 5 year cd. thank you

1
Comment #194 by Anonymous posted on
Anonymous
I just wrote to the FDIC asking for some clarification about AARP Financial and its relationship w/Waterfield - I asked about FDIC insurance, and who is ultimately responsible if there's a failure.

1
Comment #195 by Syzygy (anonymous) posted on
Syzygy
Thank you, Anonymous, for putting the question to the FDIC.

But just the fact that this question has to be asked in the first place, is it worth $60 extra in interest per month (on a $100,000 balance) to be parked at a bank where we have to ask this question...and so many other questions?

Folks, please do the math.

Let's deal with a $100,000 balance here (as there are many people, in my humble opinion) that desire not to exceed $100,000 in any one bank or perhaps they only have $100,000 or less in cash to put in savings.

AARP Savings is currently paying a flat interest rate of 4.65% for their Jumbo Money Market Account.

Alliant Credit Union is paying a flat interest rate of 3.93%.

On our balance above. we would make just $60 more per month at AARP than at Alliant Credit Union.

With Alliant CU, there is no middleman Waterfield or Affinity or whatever.

With Alliant, there is no worrying at all.

With Alliant, there are no questions, no mortgage mess, no bankruptcy, no wondering if someone will transfer your money into an alternate bank, no nothing. Just $60 per month in interest less.

Now, I think 100% of the people will agree that AARP Savings will be lowering that 4.65% rate as soon as they get enough deposits. So when that happens, assuming Alliant keeps their rate at 3.93%, that $60 per month loss will decrease.

So the question begs: Is dealing with all these unknowns of Waterfield/Affinity worth $60 extra per month?

You tell me...please.

If Alliant lowers their rate while AARP keeps theirs, of course the risk becomes more tolerable. But we are talking about a $60 per month difference as of today on a $100,000 balance.

Thank you.

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Comment #196 by Bozo (anonymous) posted on
Bozo
To: Anonymous "questioning KeyDirect"

KeyDirect is the online arm of Key Bank. KeyDirect has two rate structures, one for states in which it has a brick-and-mortar presence (13 as I recall) and another for everybody else. KeyDirect is FDIC insured. You can check their rates and terms at their website. Use your ZIP code to find out what rates and terms apply to you. They have a handy toll-free number with friendly CSRs. I opened a 10 year IRA CD at KeyDirect last January and it was easy as pie.

Yours,

Bozo

1
Comment #197 by Bozo (anonymous) posted on
Bozo
Correction re KeyDirect:

More precisely, KeyDirect offers its products in the states in which Key Bank does not have a brick-and-mortar presence. This is made clear on the KeyDirect website (click "about us").

If you live in one of the states where Key Bank has a branch (they are listed), then you deal with Key Bank, not KeyDirect. When I opened my account last January, I did note that the rates and terms were different (KeyBank v. KeyDirect), so do check the website.

Yours,

Bozo

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Comment #198 by Still Sofa King Frustrated (anonymous) posted on
Still Sofa King Frustrated
Well, people, I guess we don't have to doubt the legitimacy of AARP Savings anymore.

If you sign up today for a Jumbo MMA, you will only get 3.93%, with an APY of 4.05%.

If you signed up prior to today, you are still getting that 4.75% APY, but this is only temporary. Maybe for a month? The reason is, they got a huge amount of sign-ups this month of May, and they know if they drop the rate for all of these new accounts in just a few weeks after opening, there would be a mass exodus. Why? Because you can now get the same 3.93% from a few other banks and credit unions...and you wouldn't have to deal with a middleman like Waterfield or Affinity!

Watch AARP's sign-up rate to now plummet.

And I urge all depositors who signed up this month prior to 5/24: when our account also drops to 4.05% APY, we all need to bank hop over to perhaps Alliant CU or another bank paying a similar rate, which might show AARP Savings that they just shouldn't have dropped the rate so soon.

Who is with me?

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Comment #199 by Michael (anonymous) posted on
Michael
I just got off the phone with a nice female CSR at AARP. I guessed my call would not be successful, but I thought I'd try anyway.

My AARP Jumbo MMA is 10 days old.

I asked her how long I can expect my 4.65% rate to last until it too is lowered.

She said she had absolutely no idea, but of course I should keep in mind that my rate is variable.

Basically, she was saying my rate will of course drop to equal that of all the other post 5/24 accounts, but that they did not tell her when.

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Comment #200 by Anonymous posted on
Anonymous
I called one of my credit unions because it lost $8 million in 1Q and I was concerned about its financial condition. This credit union has $2 billion in assets, but it is in Tampa, FL ... an area hard hit by falling real estate values. It's Texas ratio was 19% as of YE2007, and it has likely deteriorated further since then.

Within 5 minutes I got a call back from the President of the credit union. He spent about 15 minutes talking to me about my concerns.

Just try that with a bank! I have sufficient NCUA insurance to cover my deposits (2 POD beneficiaries) and I contacted their call center to make sure their records were accurate. Still, you don't want the anxiety of finding out your credit union has gone into NCUA conservatorship.

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Comment #201 by Perturbance (anonymous) posted on
Perturbance
Central Willamette Credit Union (www.centralwcu.org) in Oregon is offering a 5.67% APY rewards checking account on balances up to $25k. They will also refund ATM fees from non-credit union machines. Requirements:

10 cleared Debit card transactions
One direct deposit or ACH Auto Debit
Receive a monthly Electronic Statement
Access Online Banking

If you don't meet all the requirements, the rate drops to 0.1%. In addition, they won't refund ATM fees if you don't meet these requirements. Balances over $25k will earn 1% APY.

FOM is limited to people who live or work in Benton, Linn, Marion or Polk counties in Oregon. They have branches in Albany, Corvallis, Lebanon and Salem. They are insured by the NCUA.

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Comment #203 by Anonymous posted on
Anonymous
Citibank UK is offering to new customers a US Dollar Reward Saver account that pays 4.5% AER for six months. Existing customers can get this rate if they meet certain qualifications.

1
Comment #204 by Banking Guy (anonymous) posted on
Banking Guy
I've created a new Finding-Deals-Post @

Finding Deals post # 10

Please post all new comments in that post.

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