Saturday, March 27, 2010 - 9:38 AM
It looks like Alliant’s dropping their savings rate by ½% (from 2.0 to 1.5%) is having an immediate impact on local rates here in the Chicago area. I have 2 rewards checking accounts at a local bank and cu and their rates have already fallen. Consumers CU announced that they were cutting their rate by ½% (from 4.09 to 3.59) starting April 1st, and Devon Bank cut their rate from 4.15 to 3.01%. The Devon Bank cut was particularly annoying as they made no effort to announce their rate cut and it became effective immediately. Since Alliant is an easy CU to join and its accounts are available nationally, it probably means that this rate cut will ripple through the nationally available rates as well.
2,282 posts since
May 9, 2010
Rep Points: 3,917