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Thursday, July 31, 2014 - 11:36 AM
Grand Rivers Community Bank (3 Yr CD, 2%APY), also RCA ($10K, 2%APY)
Grand Rivers Community Bank
While the bank's Texas ratio has a DA rating of B+, the low asset base results in an overall health rating of C+. 

The RCA may not have broad interest due to the low cap.  It is a Kasasa account with an accompanying Kasasa Saver.  RCA qualifications are as follows:
  • Have at least 12 check card purchases post and settle
  • Be enrolled and receive eStatement notice
  • Be enrolled and log into online banking
Note there does NOT appear to be a requirement for direct deposit.

Edited to add:  Per a helpful CSR: 
1) EWP is 3 months of interest on the 3-year CD.  There is a $1K minimum to open the account. 
2) The bank can mail the paperwork necessary to open the CD account.  The paperwork must be notarized before it is returned, and you must include a bill (example: electric bill) with your name and address, a copy of your driver's license and of your Social Security card.  If anyone else will be on the account you must include a copy of their license and SS card as well.
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,274
Thursday, July 31, 2014 - 8:16 AM
Here's What The Numbers On Your Credit Card Really Mean
From Business Insider via Yahoo Finance:

The string of digits presented on the front of a credit or debit card is enough to confuse even the smartest of shoppers.

Yet, each number plays a crucial role in identifying the card provider, bank, and account information, as well as providing a security check.

Read more
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,274
Thursday, July 31, 2014 - 8:14 AM
Defined Benefits Pension Plans Cost 1/2 Of What A DC (401K) Plan Costs
Another big finding in the study was that DB plans are more economically efficient than defined contribution plans, with 63.2 percent of benefits coming from investment earnings, not from employer or employee contributions. In addition, the institute’s research showed that pensions can provide the same level of retirement benefits at approximately half what a DC plan costs.
Pensions deliver $943 billion economic punch | BenefitsPro 
BradenBraden47 posts since
Apr 27, 2014
Rep Points: 135
Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,662
Wednesday, July 30, 2014 - 6:19 PM
6 Ways Federal Reserve Policy Hurts Retirees
Beware retirement woes.
In late 2012, Federal Reserve Chairman Ben Bernanke fessed up and revealed the worst-kept secret in finance: The low rates the Fed has maintained in an attempt to ignite the U.S. economy are badly hurting retirees and others who rely on fixed income.
Read more:
cumuluscumulus339 posts since
Jan 16, 2010
Rep Points: 1,592
Wednesday, July 30, 2014 - 11:49 AM
Funding An HSA In An Alternative Fashion
Another Way to Fund a Health Savings Account-Kiplinger
If you have an HSA-eligible health insurance policy, then you can roll money over from a traditional IRA to an HSA and avoid a tax bill on that money when you withdraw it for medical expenses.
Cas Saint DenisCas Saint Denis16 posts since
Jun 24, 2014
Rep Points: 57
Tuesday, July 29, 2014 - 7:33 PM
17-Month 1.50% APY CD. Quick Look.
Darien Rowayton Bank
17-month 1.50% APY CD, $500 minimum
Available nationwide, buy online or in person
Darien Rowayton Bank (Connecticut)

Competitors in this timeframe:
  Xceed FCU 1.50% 17-mo
  Synchrony 5y with EWP after 17mo = 1.49%
  Barclays    5y with EWP after 17mo = 1.46%

Read more
cumuluscumulus339 posts since
Jan 16, 2010
Rep Points: 1,592
Tuesday, July 29, 2014 - 2:06 PM
53 Banks Still Owe Taxpayers Money
From Bauer Financial:
Treasury continues winding-down the bank investments it made under the Capital Repurchase Program (CPP) of TARP (Troubled Asset Relief Program). When the programs were launched in 2008, the belief was that it would all be behind us by now. Banks in the program were given incentive to exit, in the form of a dividend payment hike, once they were healthy enough to do so
Read more
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,274
Tuesday, July 29, 2014 - 1:59 PM
Our Perception Of Time Says Everything About How We Handle Our Finances
From Yahoo Finance:

If you want to get better at managing your finances, stop fussing over dollars and cents — instead, take a good hard look at how you perceive time.

.... People who based their decisions on the past tended to be more cautious with their spending and more financially healthy. Those who focused mostly on their present situation were more likely to make the sort of impulsive decisions that could lead to more debt and living beyond their means.

“Whether you can do math or have a high degree of financial literacy does not mean we can predict if you’ll be financially sick or financially healthy,” ...  “But we can tell whether you’ll be financially healthy or sick based on your time perception.”
Read more
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,274
Tuesday, July 29, 2014 - 1:45 PM
Retirement Regrets: Costly Mistakes To Avoid
From Yahoo Finance: 

If you talk to enough baby boomers or new retirees about what they wish they could do differently, chances are many of them would mention a retirement plan do-over of some kind.

And even if you’ve managed to build up a sizable nest egg, executing on the right way to withdraw those funds is just as important as saving. Crucial mistakes along the way can jeopardize the money you’ve worked so hard to save up.

Read more
Among the mistakes may regret: having too many retirement accounts with different institutions, borrowing from yourself, not revising your financial plan.
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,274
Tuesday, July 29, 2014 - 9:08 AM
America's 10 Most Hated Banks
If you put out a complaint box for customers of US banks and financial firms, you will get hundreds of thousands of complaints. That's what the Consumer Financial Protection Bureau—which was set up by Elizabeth Warren before she became a US senator—has discovered. And the bank that has drawn the most complaints is Bank of America. Wells Fargo, JPMorgan Chase, and Citibank were other top targets of consumer wrath.

America's 10 Most Hated Banks | Mother Jones
ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
Tuesday, July 29, 2014 - 7:41 AM
What Banks Should Really Call ‘Savings Accounts’
Savings accounts were designed to encourage people to sock money away. But that's not how people actually use them. So what should banks and credit unions call "savings accounts" if they aren't really used for savings?

What Banks Should Really Call 'Savings Accounts'
ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
Tuesday, July 29, 2014 - 7:32 AM
You Only Think You Know How To Get Long-Term Care Insurance
"While the cost of care among all care providers has steadily increased, the cost of facility-based providers has grown at a much greater rate than that for home care," Genworth says. "As the American population ages and requires these services, it is vital to be aware of the associated costs in order to build a better long-term care plan."   Way too many Americans nearing or in retirement aren't getting the memo, and they're paying too much for insurance -- or getting rejected for long-term care for preventable reasons, one industry group claims.

http://www.bankingmyway.com/insur...term-car..
ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
Tuesday, July 29, 2014 - 7:12 AM
The Pentagon's 26,000 Tax Deadbeats Pose A Security Risk, GAO Says
Thousands of Pentagon employees and contractors with security clearances owe the U.S. Treasury unpaid taxes, the Government Accountability Office reports. Together they owed $730 million in 2012.   Why is the GAO, the investigative arm of Congress, even looking at this? Because people who are hard up for cash might be more easily compromised. “An individual who is financially overextended is at risk of having to engage in illegal acts to generate funds,” the agency writes, and that factor must be considered when deciding who can access government secrets.

http://www.businessweek.com/artic...tagon-se..
ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
Tuesday, July 29, 2014 - 7:04 AM
1 In 3 U.S. Adults With A Credit History Have 'Debt In Collections'
An estimated 1 in 3 adults with a credit history -- or 77 million people -- are so far behind on some of their debt payments that their account has been put "in collections."

1 in 3 American adults have 'debt in collections' - Jul. 29, 2014
ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
Monday, July 28, 2014 - 2:49 PM
(NOT) America's Best (Savings) Rates Q2 2014
This purported list of savings rates contains general comments
making it useful, but its' "best" list pales in comparison to
what Ken provides us weekly.  (Note the absence anything greater
than 0.95%.)

The real takeaway here is recognition of Ken's continued first-class
comprehensive efforts. THANK YOU Ken.

Read more:
cumuluscumulus339 posts since
Jan 16, 2010
Rep Points: 1,592
Monday, July 28, 2014 - 2:28 PM
Lloyds Pays $370M To Settle Libor Probes
Britain-based Lloyds Banking Group will pay $370 million to U.S. and United Kingdom investigators to resolve investigations over its suspected manipulation of financial benchmarks used to set rates on trillions of dollars in loans. The payments will settle or avoid charges that employees of the banking group attempted to rig the London Interbank Offered Rate for several currencies, including the U.S. dollar, British pound and Japanese yen.

Lloyds pays $370M to settle Libor probes
ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
BradenBraden47 posts since
Apr 27, 2014
Rep Points: 135
Monday, July 28, 2014 - 7:19 AM
The Biggest Credit Myth That Just Won’t Die
For the average person who is trying to build or maintain a good credit score, a number of myths about credit that continue to circulate — no matter how hard financial experts try to squash them — make the process difficult and frustrating.  And the biggest myth out there is that closing your oldest accounts will hurt your credit score by reducing the length of your credit history.

Closing Credit Card Accounts Won't Hurt Your Credit History | GOBankingRates
ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
Sunday, July 27, 2014 - 4:17 PM
The Typical Household, Now Worth A Third Less
The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower. But during the same period, the net worth of wealthy households increased substantially.

The Typical Household, Now Worth a Third Less - NYTimes.com
ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
Sunday, July 27, 2014 - 4:14 PM
Consumers Are Padding Their Checking Accounts
Americans are hoarding more cash in their checking accounts than at any time during the last 25 years.

Consumers are padding their checking accounts
ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
Sunday, July 27, 2014 - 4:10 PM
Continued Wage Stagnation May Keep Interest Rates Low For Years To Come
(Reuters) - After injecting trillions of dollars into the global financial system over the last six years, the world's central bankers now face a vexing question: why is so little of it showing up in workers' paychecks? For both Fed Chair Janet Yellen and BoE head Mark Carney, however, wage growth has become an anchor that could keep rates tied down. Yellen has said wage growth that keeps pace with both inflation and productivity is one of her key markers for a healthy labor market, and she has warned that anything short of that means household income, consumer spending and the economy overall would underperform.

http://www.reuters.com/article/20...2KZ2014072

ShorebreakShorebreak2,624 posts since
Apr 6, 2010
Rep Points: 14,220
Saturday, July 26, 2014 - 6:09 PM
Match Your CD To Your Short- Or Long-Term Goals
This will appeal to those staying on the sidelines awaiting higher
rates:

Now that CD rates have likely hit rock bottom and will, albeit very slowly, begin climbing again, anyone who locks himself into a long-term CD account will undoubtedly sabotage himself out of better rates in the future.

It's just getting more diffcult to believe.

Read more:
cumuluscumulus339 posts since
Jan 16, 2010
Rep Points: 1,592
Saturday, July 26, 2014 - 5:49 PM
RCA (2.02%, $25K) 1.01% .GT. 25K! Quick Look.
New Horizons Credit Union
Difference between this RCA and others is, while
the account pays 2.02% APY for balances up to the
$25K cap, balances above the cap earn 1.01% APY!

Ultimate Checking account
  ..12 check card purchases
  ..Enrollment in eStatements
  ..One Direct deposit or Automatic payment
Restricted membership & must open at a branch
New Horizons Credit Union (Alabama)

Read more:
cumuluscumulus339 posts since
Jan 16, 2010
Rep Points: 1,592
Saturday, July 26, 2014 - 12:26 PM
Liberty First Credit Union RCA (2.5%APY, $25K)
Liberty First Credit Union
The Nebraska credit union has a health rating of A on DA.  The RCA is a Kasasa account with a Kasasa Saver. 

Qualification requirements:
Have at least 12 debit card purchases post and settle
Be enrolled and log into Online Access
Be enrolled and receive eStatements 
Have at least one (1) net direct deposit post and settle

There is a limit of one account per SSN. 

If you live, work, worship, attend school or volunteer in Lancaster county, you are automatically eligible. Those outside of Lancaster county are also welcome to join through a family member or participating employer.  See membership details here.
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,274
Saturday, July 26, 2014 - 12:01 PM
Vantage Bank Texas RCA (2.12%APY, $50K)
Vantage Bank Texas
The RCA has an unusually high cap. 

Qualification requirements:
15 Debit Card Purchases (posted and cleared)
1 Direct Deposit of at least $250 or 1 ACH Debit (posted and cleared)
Receive E-Statements via Online Banking

The bank, which has a health rating of A on DA, has locations only in the Texas cities of  San Antonio, Laredo, Refugio and McAllen.
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,274
Friday, July 25, 2014 - 6:24 PM
Promo CD Rates Aren’t Thrilling Savers
Savers continue to withdraw CD deposits from banks and thrifts  [...]   That’s because even the special rates aren’t all that special

Read more:
cumuluscumulus339 posts since
Jan 16, 2010
Rep Points: 1,592
Friday, July 25, 2014 - 2:18 PM
This Has No Redeeming Value Other Than To Make You Say "What?"
Seriously Bloomsberg?

It's Hard to Make a Dollar Breeding Fancy Rats - Businessweek

It’s not uncommon to find a highbred rat whose breeder can trace its forebears back 20 generations.

Cas Saint DenisCas Saint Denis16 posts since
Jun 24, 2014
Rep Points: 57
Friday, July 25, 2014 - 2:10 PM
Capital One 360 Or Ally Bank???
Capital One 360
I'd like to open up a debate I haven't seen here in a while.  I'm trying to decide between Capital One 360 or Ally Bank as a secondary bank for me.  I'd like to get the community's thoughts on this.

My needs: A checking and a savings. Average balance in checking: $1,000-$2,000. Average balance in savings: $500-$1,000.

The checking account will mainly be used only when travelling (mostly domestic, possibly some international travel in future). The savings account will be used to save funds for the holidays or special occasions.  Both accounts will have funds pushed into them from my primary bank at least once a month. I may use BillPay to pay the credit card that I use for travel. A person-to-person payment service may be used to disburse the funds I've saved for holiday spending.

I currently have a Capital One credit card.  I do not have any loans or other accounts with Ally.

I'm looking for a longer-term banking relationship.  I'm not one to change banks every few years, so I'd like this bank choice to be a keeper.

Can you all help me decide:  Capital One 360 or Ally?
TampaBayBCTampaBayBC3 posts since
Aug 14, 2011
Rep Points: 26
Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,662