Colorado Banking Rates and News

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...

The seven banking divisions of BOK Financial Corporation are offering a cash bonus for opening a new checking account. Four of the divisions are offering a $100 bonus, and the other three are offering a $50 bonus. To qualify for the bonus, the customer must either activate direct deposit OR make 10 debit card purchases ($10 minimum per transaction). The promotion is scheduled to end on May 31, 2012. Below are the links to the promotion pages of the seven divisions:

• $100 bonus at Bank of Texas (free checking)
• $100 bonus at Colorado State Bank and...

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...

Air Academy Federal Credit Union has some competitive long-term CD and IRA CD rates. The two best ones are a 2.45% APY 5-year CD and a 2.00% APY 4-year CD. Minimum deposit is $10,000. The rates are 10 basis points lower for a $500 minimum deposit. These rates are listed in the credit union's share certificates rates page as of 3/21/2012.

One downside with these long-term CDs is a harsh early withdrawal penalty. According to the credit union's account agreement, "for accounts having a term greater than 47 months, the penalty imposed will equal...

Denver Community Credit Union is offering is offering two competitive 5-year CD and IRA CD rates. The maximum rate is 2.35% APY for a $50K minimum deposit. For a $100 minimum, it's 2.10% APY. These rates are listed in the credit union's deposit rates page as of 3/6/2012.

A nice feature is listed at the bottom of the rates table for IRA CDs. It states that "Contribution and rollover deposits are allowed at anytime when invested in a IRA share certificate with any term of 36 months or greater with a minimum transaction amount of $25."

The credit...

• 2.50% APY 7-year CD (was 2.76%)
• 2.00% APY 5-year CD (was 2.25%)
• 1.74% APY 4-year CD (was 2.00%)
• 1.25% APY 3-year CD (was 1.50%)
• 0.99% APY 2-year CD (was 1.25%)
• 0.90% APY 1-year CD (was 1.16%)

PenFed calls their CDs...

It has been a while since BBVA Compass has offered competitive CD rates. BBVA Compass currently has one CD rate that's competitive. It's a 5-year CD with a 2.00% APY. Minimum deposit is $5,000, and the maximum is $1 million. This is listed on its CD rates page as of the morning of 2/7/2012. Rates may vary by area. I've confirmed this rate for several locations including Southern California, Houston Texas and Jacksonville Florida.

BBVA Compass provides few CD details on its website. I had to call their Telephone Banking Department at 1-800-266-7277 (option 2)...

Mountain View Bank of Commerce is listing several competitive CD rates. The two most competitive CDs are 2.03% APY for 3 years and 2.35% APY for 4 years. Minimum deposit is $1,000, and the maximum deposit is $100,000. These rates are listed in the bank's rates page as of 1/25/2012.

It appears that a branch visit is required to open accounts. It's a small bank with one office located in Westminster, Colorado which is just north of Denver.

The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5)...

There had been rumors that Pentagon Federal Credit Union (PenFed) was going to finally start offering 10-year certificates to all members in January. A reader reported that he was told by a CSR the yield would be 3.00%. I wasn't able to confirm this 10-year CD last week, and there isn't any mention of this new CD at PenFed's website. New January rates are posted with no mention of a 10-year CD or IRA CD.

There is some good news with PenFed's January rates. First, the 1-year CD yield has increased from 0.99% to 1.16% APY. This is...

I just confirmed that Alliant Credit Union will be keeping its savings and checking rates the same for December. Alliant Savings Account has a 1.15% APY on balances of $100 or more. Its High Rate Checking has a 1.10% APY on all balances. This checking rate requires monthly electronic deposits and e-statements.

With these rates holding through December, Alliant has become the only institution that has kept its savings account rate unchanged for all of 2011. It was back in December 17, 2010 that we learned that Alliant was going to cut its 1.35% APY to the...

Westerra Credit Union is again offering a checking account promotion. This time there's no gift option. The bonus is $125 cash. Direct deposit is required. The promotion is listed on the credit union's front page and on its checking account page as of 11/07/2011. Here's the offer's small print:

Offer valid for new checking accounts only. Direct Deposit of payroll/retirement and electronic statements required. $125 will be awarded after the first direct deposit is received in the account - stop by any branch or call 303-321-4209 to obtain $125. Bonus will be reported to IRS as...

On Friday US Bank did something that's rare these days. It raised the rate of its competitive long-term CD. The rate of the 59-month CD special increased from 2.00% to 2.25% APY. The two other special CDs with shorter terms are not nearly as competitive. One is a 1.25% APY 37-month CD and the other is a 1.01% APY 19-month CD. Minimum deposit is $1,000, and the maximum is $249,999. These rates are listed in US Bank's CD page as of 10/31/2011. Rates could change at any time, but they typically change on Friday mornings.