California Banking Rates and News

NuVision Federal Credit Union has another $150 checking account promotion. It has been over two years since my last report on one of these. This new one is advertised on the credit union's home page. The details are listed in this NuVision promotions page as of 5/25/2012.

The first $50 requires that you open a free checking account and establish direct deposit of at least $200 within the first 90 days. Also, eStatements must be established and maintained.

The second $50 requires that you keep the checking account active by having a minimum of 5 signature-based debit card...

Coronado First Bank is offering a very competitive 4-year CD and IRA CD rate of 1.92% APY. Minimum deposit is $1,000. The Jumbo 4-year CD actually has a lower rate. This 4-year CD rate is listed in the bank's deposit rates page as of 5/10/2012. I don't see any online disclosure. At the bottom of this rates page, it states to "contact bank for complete account information and disclosures."

The bank has two branches in Coronado and San Diego. It appears a branch visit is required to open an account. The bank used have...

BBVA Compass is offering its first major checking account promotion since it added new checking account fees. The promotion is listed on the bank's home page. Here's the direct link to the promotion. You can earn $100 for opening a new Build-to-Order or CompassLink Checking Account online by June 30, 2012. Also required is either a qualifying direct deposit or 3 online bill payments of at least $50 each within 60 days of online account opening. Below is the offer's small print:

$100 Bonus Terms & Conditions: New consumer checking accounts opened online from May 4, 2012...

F&A Federal Credit Union continues to offer several very competitive checking, CD and IRA CD rates. I first reported on this credit union in 2010. I haven't been tracking it closely since it has a narrow field of membership. I thought it was worth another post for the few who can qualify to join.

The first noteworthy account is F&A's Hi Yield eChecking Account. It has an APY of 1.26%. This is listed in the credit union's rates page and Hi Yield eChecking page as of 5/7/2012. I don't see any balance cap,...

It has been a while since I reported on First Republic Bank. Its CD rates have finally changed for the better to make it noteworthy. The bank now has a few competitive CD rates. The two best ones are a 1.30% APY 2-year CD and a 1.20% APY 18-month CD. Minimum deposit is $5,000. Below is the list of all of the competitive CD rates as listed at the bank's rates page as of 5/2/2012:

• 1.75% APY 6-year CD
• 1.60% APY 5-year CD
• 1.50% APY 4-year CD
• 1.40% APY 3-year CD
• 1.30% APY 2-year CD
• 1.20% APY 18-month CD
• 1.00% APY 1-year CD

Rates...

It has been almost 5 years since my first review of Provident Credit Union's reward checking account. Rates have gone down, but it has remained competitive. Also, the balance cap has stayed the same. The last time the rate has fallen was in January 2011. When Provident does cut rates, the cuts are usually small. Most rate cuts have been 25 or 50 basis points. As we have seen with some reward checking accounts at other institutions, rate cuts can often be a percentage point or more.

Below is the list rates and features of Provident's Super...

It has been a long time since I've seen a good CD deal at Patelco Credit Union. Good CD deals were common before the financial crisis, but since that time, Patelco CD rates have been a little low. That finally has changed with a 7-year CD special. It has a competitive 2.50% APY. Minimum deposit is $1,000 for a regular CD and $500 for an IRA CD. The early withdrawal penalty is 365 days of interest. The CD rates and its details are listed in Patelco's certificates page as of 4/16/2012. Thanks to the reader who...

Alliant Credit Union reduced its savings account and High Rate Checking rates by 5 basis points. The new April yields are 0.95% for the savings account and 0.90% for the High Rate Checking. There was also a cut to the Health Savings Account rate. The yield fell from 1.75% to 1.50%.

I was hoping that Alliant would be repeating 2011 when they kept the savings and checking accounts rates steady for the whole year. At least they only cut these rates by 5 basis points this time.

It's also disappointing to see the savings account rate fall below 1.00%. In my...

Northrop Grumman Federal Credit Union used to be a rate leader for many CD and IRA CD terms. That changed a couple of years ago. I just noticed that the credit union's CD rates are becoming more competitive. In addition, it has recently added a 7-year CD that also has competitive rates. The best one is a 2.42% APY for a $40K minimum deposit (2.26% APY for a $2.5K minimum). The 5-year CD rate is also fairly competitive with a 2.05% APY for a $40K minimum. These rates are listed in the credit union's term savings...

CBC Federal Credit Union has some competitive CD and IRA CD rates. The best rate is 2.20% APY for a 5-year CD with a minimum deposit of $100K. The rate is 2.15% APY for a $50K minimum and 2.10% APY for a $500 minimum. There's also a special 18-month IRA CD with a 1.25% APY. These rates are listed in the credit union's share rates page as of 3/8/2012.

The credit union was started to support the personnel at the Ventura County naval base, but it has expanded so membership is now open to everyone who lives,...

Pacific Marine Credit Union is offering several competitive CD and IRA CD rates. The best deal is the 5-year IRA CD which has a 2.25% APY. The regular 5-year CD has a 2.15% APY. Minimum deposit is $1,000. These rates are listed in the credit union's rate sheet as of 3/6/2012.

One downside to this credit union's share certificates is a very harsh early withdrawal penalty. According to the credit union's Truth-in-Savings disclosure, the EWP is equal to all dividends earned for withdrawals after 6 days from opening.

Credit union membership is open to all...

It has been over a year since my last post of Justice Federal Credit Union. Over the years I have done several posts on this credit union due to its competitive rates and a field of membership that allows many people to qualify. Even though many may be able to qualify for JFCU membership, it doesn't mean it's easy as a reader described in this review. Because of this problem, I haven't mentioned this credit union for the last year. However, it continues to offer some top CD rates. Also, several readers have been able to join. Thus,...