United Community Bank is offering several competitive CD rates. The two best are the 2.00% APY 10-month CD special and the 2.25% APY 18-month CD. Minimum deposit is $500. There's also a 2.50% APY IRA CD. These rates are listed in the bank's rates page as of 1/28/2010.
It appears a branch visit is required to open an account. Branches are located in the southeast Indiana cities of Lawrenceburg, St. Leon and Aurora which are just west of Cincinnati, Ohio.
The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 9/30/09 financial data. The bank has been a FDIC member since 1936 (FDIC Certificate # 29620).
Indiana Deposit Account Rates and Deals
Browse through the stories below to view current deals for Indiana banks or select an item from the menu bar above to view current rates in Indiana.
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Competitive CD Rates at United Community Bank in Southeast Indiana - Local Only
Thursday, January 28, 2010 - 9:45 AM CT
Rewarding Debit Card Use - M&I Bank's New Checking Account and Bonus
Friday, January 22, 2010 - 9:08 AM CT
As I've been reporting, banks are trying new ways to encourage customers to use their debit cards with the credit (signature-based) option. High-yield reward checking is one way, and this mostly benefits those with larger balances ($25K or more). The larger banks have tried reward checking that rewards with cash back rather than high interest rates. M&I Bank is the latest example with their Cash Back Checking.
In addition to the cash-back features, M&I Bank is offering a $100 cash bonus for opening their Cash Back Checking Account. Offer is scheduled to last until 2/12/2010. Here's the small print of the offer:
Simply open an M&I Cash Back Checking account by February 12, 2010. To receive your $100 you must make five qualifying** purchases with your M&I Bank Check Card within the first 45 days after account opening. Your account will be reviewed 45 days after opening. The $100 cash bonus will be paid within 2 weeks of that review if the requirement above has been met. Offer applies to new accounts opened with new money not currently on deposit with M&I Bank, no exceptions. One bonus per household ever 12 months. Cannot be combined with other offers.
Note, qualifying purchases requires signature-based purchases with the debit card.
Here's the summary of the cash back features of this checking account:
- 0.25% cash back bonus based on the total amount of your net signature-based M&I Bank Check Card purchases made during the statement cycle.
- $0.25 for a deposit up to a maximum of $2 per statement cycle (8 deposits)
- $0.25 for each monthly online statement
- $0.05 for automatic payments deducted from your account (Online Bill Payment, internal M&I loan payment and ACH debit) up to a maximum of $2 per statement cycle (40 payments)
Note, high-yield reward checking accounts often require the above activity to qualify for the high yield. For those with small balances, the above cash-back features could earn you more than high interest rate.
One downside to the Cash Back Checking is the potential of a $10 monthly maintenance fee which would eliminate the benefits of the above rewards. The bank lists these three options to avoid this fee:
- making 3 transactions per statement cycle
- maintaining $1,000 minimum average daily balance in the account
- if you are under the age of 25
The offer appears to only be available where M&I Bank has branches. You need to enter your zip code if you apply online, and it'll tell you if you're not in their market area. According to their branch locator, the states where they have branches include: Arizona, Florida, Illinois, Indiana, Kansas, Minnesota, Missouri, Nevada and Wisconsin. Most of the branches are located in Wisconsin which is where their headquarters is located.
M&I is a large regional bank with $51.6 billion in assets. It has been a FDIC member since 1934 (FDIC Certificate # 1020).
Credit for this find goes to FW member buyerbware who posted it on this FW thread.
2.50% 25-Month CD Continues at First Financial Bank in OH, IN & Other States - Local Only
Friday, January 15, 2010 - 9:37 AM CT
First Financial Bank continues to offer a special 25-month CD with a 2.50% APY. Minimum deposit is $10,000, and new money is required. This special is not listed at the bank's website. I just called the bank to confirm the rate. According to the CSR, this special is available at all branches. The CSR didn't know how much longer it would last, but they usually update rates on Tuesdays.
A branch visit is required to open an account. Most of the branches are located in Ohio and Indiana. The FDIC also shows branches in several other states including California and Arizona. These are the branches that First Financial acquired when Irwin Union Bank failed in September.
First Financial Bank's ratings for safety and soundness are a little above average: 4 stars (excellent) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 6600).
Other Competitive Certificate of Deposit Rates
A branch visit is required to open an account. Most of the branches are located in Ohio and Indiana. The FDIC also shows branches in several other states including California and Arizona. These are the branches that First Financial acquired when Irwin Union Bank failed in September.
First Financial Bank's ratings for safety and soundness are a little above average: 4 stars (excellent) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 6600).
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com (overview of DepositAccounts.com)
- My weekly list of hot nationwide and local CD deals
$150 Checking Bonus at Commonwealth Bank and Trust Company for KY, IN & OH Residents
Thursday, January 7, 2010 - 2:00 PM CT
Commonwealth Bank and Trust Company is offering up to $150 for opening its Extreme Checking Account and making 15 payments using its internet Bill Pay service. You'll get $15 for each bill payment for up to $150. Refer to the bank's promo page for more details. Below is the offer's small print:
The Extreme Checking account is a high-yield reward checking account that I first reported on in 2008. It's currently paying 4.50% APY on balances up to $25K, and the rate is guaranteed through the Derby 2010 (starts on the first Saturday in May). Refer to my account review for more details. A commenter in that post reported that there's no hard pull in the application. I've sent an email to confirm. Update: I received the following reply about the credit inquiry: "It is a soft inquiry that will not impact your credit score."
It's rare to see both an attractive bonus and reward checking account.
There's an online application for the account, but it states on the Extreme Checking page that it's only available for residents of Kentucky, Ohio and Indiana.
Thanks to the reader who commented on this deal.
Other Bank Bonuses
To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts.
Offer valid for new Extreme Checking accounts only. Account must be open for at least 60 days to earn cash bonus. One bonus per customer. Maximum bonus of $150. No minimum balance required; however, you must deposit $100 to open account. Miscellaneous income reportable to the IRS.
The Extreme Checking account is a high-yield reward checking account that I first reported on in 2008. It's currently paying 4.50% APY on balances up to $25K, and the rate is guaranteed through the Derby 2010 (starts on the first Saturday in May). Refer to my account review for more details. A commenter in that post reported that there's no hard pull in the application. I've sent an email to confirm. Update: I received the following reply about the credit inquiry: "It is a soft inquiry that will not impact your credit score."
It's rare to see both an attractive bonus and reward checking account.
There's an online application for the account, but it states on the Extreme Checking page that it's only available for residents of Kentucky, Ohio and Indiana.
Thanks to the reader who commented on this deal.
Other Bank Bonuses
To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts.
2.00% 15-Month CD & 2.50% 23-Month CD at Regions Bank in Several States - Local Only
Wednesday, December 16, 2009 - 8:53 AM CT
Regions Bank has adjusted its special CDs, but they remain competitive in many states. All areas appear to have the same long-term CD special rates: 2.50% APY for 23 months and 3.00% APY for 42 months. The 7-month CD special also appears common for all areas, but it's not nearly as competitive with a 1.25% APY. They used to have a 12-month special, but the term is now 15 to 17 months. The APY is 2.00% for many states (I've confirmed this for AL, GA, IL and TX). In some states it's only 1.75% APY (I've confirmed this for FL and IN). The rates vary by area, so you'll have to enter your zip code at Regions CD page to see the rates available for your area. The above rates were checked on 12/16/09.
Minimum deposit for the above specials is $10,000 with a $1 million maximium, and new money is required. Also, the CD page states that you must have or open a Regions checking account. A reader in my last Regions post mentioned that his Texas branch hasn't required him to open a checking account. So you may be able to get out of the checking requirement if you have some nice reps at your local branch.
When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
Regions lost $473 million in the third quarter, and it's in the process of cost-cutting which includes closing some branches. According to this Herald Tribune article, it's closing 22 offices in Florida and 121 in its 16-state footprint. Regions was one of the major banks that were required to raise capital based on the government's stress test last spring (see post).
Regions Bank's rating for safety and soundness at Bankrate.com is 1 star (lowest) based on 6/30/09 data. At BauerFinancial it was 3 stars (adequate) when it was based on 6/30/09 data. It remains 3 stars based on 9/30/09 data. Regions Bank has been a FDIC member since 1934 (Regions' FDIC Certificate # 1368).
Other Competitive Certificate of Deposit Rates
Minimum deposit for the above specials is $10,000 with a $1 million maximium, and new money is required. Also, the CD page states that you must have or open a Regions checking account. A reader in my last Regions post mentioned that his Texas branch hasn't required him to open a checking account. So you may be able to get out of the checking requirement if you have some nice reps at your local branch.
When I had last checked with Regions on its special CDs, a branch visit was required to open an account. Branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
Regions lost $473 million in the third quarter, and it's in the process of cost-cutting which includes closing some branches. According to this Herald Tribune article, it's closing 22 offices in Florida and 121 in its 16-state footprint. Regions was one of the major banks that were required to raise capital based on the government's stress test last spring (see post).
Regions Bank's rating for safety and soundness at Bankrate.com is 1 star (lowest) based on 6/30/09 data. At BauerFinancial it was 3 stars (adequate) when it was based on 6/30/09 data. It remains 3 stars based on 9/30/09 data. Regions Bank has been a FDIC member since 1934 (Regions' FDIC Certificate # 1368).
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com (overview of DepositAccounts.com)
- My weekly list of hot nationwide and local CD deals
2.20% CDs with Terms from 6 to 18 Months at Communitywide FCU in Indiana - Local Only
Wednesday, December 16, 2009 - 8:45 AM CT
Communitywide Federal Credit Union has a certificate special with a 2.20% APY for terms of 6 to 18 months. It also has competitive rates on its regular CDs including a 3.20% APY 48-month CD and a 3.50% APY 60-month CD. These rates are listed at the credit union's dividends page as of 12/16/09.
Eligibility for membership is primarily based on employee groups. However, donor members of two organizations also appear to allow a person to be eligible. Please refer to the credit union's membership page for the full details.
Branches are located in the Indiana cities of South Bend, Mishawaka, Granger, Elkhart and Plymouth.
The credit union's ratings for safety and soundness are fair: 3 stars (adequate) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The credit union is federally insured by the NCUA (Charter # 18336).
Other Competitive Certificate of Deposit Rates
Eligibility for membership is primarily based on employee groups. However, donor members of two organizations also appear to allow a person to be eligible. Please refer to the credit union's membership page for the full details.
Branches are located in the Indiana cities of South Bend, Mishawaka, Granger, Elkhart and Plymouth.
The credit union's ratings for safety and soundness are fair: 3 stars (adequate) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The credit union is federally insured by the NCUA (Charter # 18336).
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com (overview of DepositAccounts.com)
- My weekly list of hot nationwide and local CD deals
Update on National City's $300 Bonus and PNC's $100 Bonus - Limited to Certain States
Monday, December 14, 2009 - 9:34 AM CT
National City continues to offer its $300 checking account promotion. I first reported on this promo in November. They're advertising it again, and it's now scheduled to end on 12/19/09. Refer to my November post for the details. The latest ad for this promo was in the Sunday edition of the St. Louis Post-Dispatch. The ad is available online here.
A branch visit is required, and this promo appears to only be available in areas where National City has branches that have not yet been converted to PNC branches. So this would exclude Florida. Other states with National City branches include IL, IN, KY, MI, MO, OH, PA and WI. All markets are scheduled to be converted by the end of June. More details about the conversions are provided at the PNC transition website.
For those with nearby PNC branches, PNC is offering another $100 checking account bonus. This was advertised in the Sunday edition of the Treasure Coast Newspaper. The ad is available online here. This is in Southeast Florida, so the promo may not be available in all markets. According to the ad:
The offer is scheduled to end on 12/19/09.
PNC continues to offer a $100 bonus for opening its Virtual Wallet account. Refer to my September post for more details. One thing that has changed is that the small print now states that the offer is limited to residents of: DC, DE, IN, KY, MD, NJ, OH, PA, VA.
Other Bank Bonus Deals:
A branch visit is required, and this promo appears to only be available in areas where National City has branches that have not yet been converted to PNC branches. So this would exclude Florida. Other states with National City branches include IL, IN, KY, MI, MO, OH, PA and WI. All markets are scheduled to be converted by the end of June. More details about the conversions are provided at the PNC transition website.
For those with nearby PNC branches, PNC is offering another $100 checking account bonus. This was advertised in the Sunday edition of the Treasure Coast Newspaper. The ad is available online here. This is in Southeast Florida, so the promo may not be available in all markets. According to the ad:
Open a select new PNC Personal Checking Account with qualifying direct deposit and get more than you expected, like $100 deposited in your account
The offer is scheduled to end on 12/19/09.
PNC continues to offer a $100 bonus for opening its Virtual Wallet account. Refer to my September post for more details. One thing that has changed is that the small print now states that the offer is limited to residents of: DC, DE, IN, KY, MD, NJ, OH, PA, VA.
Other Bank Bonus Deals:
2.50% 25-Month CD at First Financial Bank in OH, IN & Other States - Local Only
Sunday, December 13, 2009 - 12:38 PM CT
First Financial Bank has a few competitive CD specials. The best ones include a 2.50% APY 25-month CD and a 3.00% APY 42-month Flex CD. The 25-month special requires a $10,000 minimum deposit. The Flex CD has a $500 minimum deposit. It has the option during the term to convert the CD to a 12-month CD with the 12-month CD rate. Other CD specials include a 2.00% APY 19-month CD and a 1.50% APY 13-month CD. Both have a $10,000 minimum deposit. These specials are not listed at the bank's website. A reader mentioned these to me, and I called the bank on Friday. According to the CSR, these specials are available at all branches. The CSR didn't know how much longer these would last, but they usually update rates on Tuesdays.
A branch visit is required to open an account. Most of the branches are located in Ohio and Indiana. The FDIC also shows branches in several other states including California and Arizona. These may be the branches that First Financial acquired when Irwin Union Bank failed in September.
First Financial Bank's ratings for safety and soundness are a little above average: 4 stars (excellent) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 6600).
Other Competitive Certificate of Deposit Rates
A branch visit is required to open an account. Most of the branches are located in Ohio and Indiana. The FDIC also shows branches in several other states including California and Arizona. These may be the branches that First Financial acquired when Irwin Union Bank failed in September.
First Financial Bank's ratings for safety and soundness are a little above average: 4 stars (excellent) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 6600).
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com (overview of DepositAccounts.com)
- My weekly list of hot nationwide and local CD deals
3.00% 42-Month CD at First Financial Bank in IN & IL - Local Only
Friday, December 11, 2009 - 9:22 AM CT
First Financial Bank, N.A. has a a competitive special CD with a 3.00% APY for a 42-month term. There's also a 13-month special, but it's much less competitive with a 1.35% APY. Minimum deposit is $2,500. These rates are listed in the bank's CD rates page as of 12/11/09.
It appears that a branch visit is required to open an account. Branches are located in several cities in Indiana and Illinois including Terre Haute, Clinton, Farmersburg, Rockville, Robinson and Danville.
The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 9/30/09 data) and 4 stars (sound) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 4382).
Other Competitive Certificate of Deposit Rates
It appears that a branch visit is required to open an account. Branches are located in several cities in Indiana and Illinois including Terre Haute, Clinton, Farmersburg, Rockville, Robinson and Danville.
The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 9/30/09 data) and 4 stars (sound) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 4382).
Other Competitive Certificate of Deposit Rates
- CD rates at DepositAccounts.com
- My weekly list of hot nationwide and local CD deals
3.01% Reward Checking Account at Indiana Bank & Trust Company - Indiana State Only
Tuesday, December 8, 2009 - 12:04 PM CT
Update 12/23/09: The top rate has fallen to 3.01% APY.
Indiana Bank & Trust Company is offering a high-yield reward checking account called Maximum Yield (MY) Checking. It has the following rates and features if certain monthly requirements are met:
There may be a hard credit inquiry in the application process. The following must be selected at the start of the application: "By applying for an account, I also agree that my credit and account history may be reviewed with consumer reporting agencies."
Branches are located in the Indiana cities of Indianapolis, Austin, Batesville, Brownstown, Columbus, Greensburg, Hope, Madison, North Vernon, Osgood, Salem and Seymour.
The bank's ratings for safety and soundness are a little above average: 3½ stars (good) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1943 (FDIC Certificate # 28285).
Other Reward Checking Accounts
To find reward checking accounts in other areas of the nation, please refer to the reward checking section of DepositAccounts.com. To learn more about reward checking, please refer to this reward checking overview.
Rate History:
12/23/09: 3.01% APY up to $25K
12/08/09: 4.01% APY up to $25K; 0.10% over; 0.10% base
Indiana Bank & Trust Company is offering a high-yield reward checking account called Maximum Yield (MY) Checking. It has the following rates and features if certain monthly requirements are met:
- 3.01% APY on balances up to $25,000
- 0.10% on portion of balance over $25,000
- 0.10% base rate if requirements are not met
- free ATMs nationwide
- 10 debit card purchases
- 1 direct deposit or automatic ACH payment or Online Bill Payment
- Log on to Online Banking
- Receive e-statements
- $500 minimum initial deposit (listed in application)
- No minimum balance requirement
- No monthly service charge
- Free bill payment
There may be a hard credit inquiry in the application process. The following must be selected at the start of the application: "By applying for an account, I also agree that my credit and account history may be reviewed with consumer reporting agencies."
Branches are located in the Indiana cities of Indianapolis, Austin, Batesville, Brownstown, Columbus, Greensburg, Hope, Madison, North Vernon, Osgood, Salem and Seymour.
The bank's ratings for safety and soundness are a little above average: 3½ stars (good) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1943 (FDIC Certificate # 28285).
Other Reward Checking Accounts
To find reward checking accounts in other areas of the nation, please refer to the reward checking section of DepositAccounts.com. To learn more about reward checking, please refer to this reward checking overview.
Rate History:
12/23/09: 3.01% APY up to $25K
12/08/09: 4.01% APY up to $25K; 0.10% over; 0.10% base
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