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Insights For Finding The Best Deposit Rates

Friday, July 20, 2012 - 3:21 PM
If you have been wondering why some banks and credit unions offer top deposit rates or why some areas of the nation offer the best rates, this Wall Street Journal article provides some interesting insights. It also shows why banks often shun out-of-state customers. Here's one example mentioned in the article:
Outsiders, by contrast, are likely to get the cold shoulder from Mr. Wait, who wants to keep bank assets below $100 million to avoid tougher regulatory reporting requirements. When CDs held by customers with no other ties to the bank mature, "we are declining to renew them," he says.

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Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
Rep Points: 123,675
1. Saturday, July 21, 2012 - 9:22 AM
Ken, you're too modest (you didn't note that you were one of the "go-to" guys in the article).

Keep up the good work.
2
BozoBozo135 posts since
Feb 14, 2011
Rep Points: 917
2. Saturday, July 21, 2012 - 9:47 AM
Thanks, Ken.

$250K at 1.1% APY is pretty sad, just saying.  What has this world come to?:D
1
51hh51hh1,460 posts since
Jan 16, 2010
Rep Points: 6,348
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