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Kentucky Banking Rates and News

Browse through the stories below to view current deals for Kentucky banks or select an item from the menu bar above to view current rates in Kentucky.

General Electric CU Raises Rates On 1-Year Jumbo and 5-Year CDs
General Electric Credit Union

This week, General Electric Credit Union (GECU) raised the rates on two of its CDs: 1-Year Jumbo CD (1.50% APY) and 5-Year CD (2.50% APY). The 1-Year Jumbo CD is also available as an IRA, and both CD and IRA have a minimum $100K deposit. The 5-Year CD is also available as an IRA, but the CD has a $500 minimum deposit, while the IRA requires a $100K minimum deposit.

The Early Withdrawal Penalty is a 90-day dividend penalty for the 1-Year Jumbo CD and 180-day dividend penalty...

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Citizens Union Bank of Shelbyville (KY) Offers Stepped Rate 60-month CD - 2.26%
Citizens Union Bank of Shelbyville

Two days ago, Citizens Union Bank of Shelbyville (Kentucky) began offering a 60-month Stepped Rate CD (2.26% Composite APY). The minimum opening deposit for this CD is $2.5K.

While the composite rate of 2.26% is very attractive, it is important to understand that unless you are prepared to not disturb the CD for the full five years, you will not benefit from the 2.26% rate, and in fact, will earn a substantially lower amount.

Please refer to the "Advantage and Disadvantage" discussion at the bottom of this page for more...

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Citizens Bank's CollegeSaver Account Rewards with End of Term $1,000 Bonus
RBS Citizens, National Association

With school starting soon, it's a good time to review your college savings plan options. And if you say, "What college savings plan?", you may want to consider Citizens Bank's "CollegeSaver Account," as a starting point. The CollegeSaver Account pays a $1K bonus at the end of the deposit term. You will owe taxes on the interest, as the CollegeSaver Account is not a 529, but the funds saved and the $1K bonus do NOT have to be spent on educational costs.

To qualify for the...

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Kemba Credit Union Offers Higher Rates on 4-Year and 5-Year CDs
Kemba Credit Union

In late June 2014, Kemba Credit Union was offering a special 42-month CD with a 2.00% APY. Unfortunately, that CD is no longer available, but Kemba Credit Union has raised its rates on the 4-Year CD (2.10% APY) and the 5-Year CD (2.40%). The required minimum balance to open and earn dividends is $500 and no bonuses apply. These rates are listed at the credit union’s CD page as of 7/29/14.

Kemba Credit Union continues to offer its Get Green Checking Account paying 2.50% APY on balances up to...

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Competitive CD Rate Specials at Fifth Third Bank in Several States
Fifth Third Bank (OH)

Another large regional bank has come out with new CD specials. Fifth Third Bank has improved the CD specials that it started to offer in January. Its two best CD specials are a 2.00% APY 5-year CD and a 1.50% APY 44-month CD. There’s also a 28-month CD with a 1.00% APY. Minimum deposit is $5,000, and a new or existing checking account is required. These rates are listed in Fifth Third’s CD promotional page as of 7/8/2014.

It’s important to note that the early withdrawal penalty for CD terms...

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Competitive 70-Month Promotional CD at Regions Bank - 2.25%
Regions Bank

Every now and then a large bank offers a decent rate on a promotional CD. The latest large bank to offer this type of deal is Regions Bank. It’s advertising two promotional CDs. The best one is a 70-month CD with a 2.00% APY. The other one is a 40-month CD with a 1.10% APY. Only the 40-month iCD is also available in an IRA. Minimum deposit is $10,000, and the maximum is $1 million. A checking account is required, and it must remain open during the entire term...

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Special 42-Month CD at Kemba Credit Union in the Greater Cincinnati Area - 2.5%
Kemba Credit Union

Kemba Credit Union has a special 42-month CD with a 2.00% APY. The minimum balance to open and earn dividends is $2.5K, and no bonuses apply. There is a penalty of up to 6 months dividends for early withdrawal. The special rate is listed at the credit union’s CD page as of 6/25/14. Thanks to DA member Shorebreak for posting on this in the forum.

A 42-month CD is an unique length of term, but when compared to the highest earning nationally available 3-year and 4-year CDs, its rate of return...

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Update on First Financial Bank’s Reward Checking and Savings Accounts
First Financial Bank (AR)

First Financial Bank continues to have very competitive rates on its reward checking and savings accounts, and these accounts are now available to more people than when I last reported on this account in April 2013. The reward checking is called Kasasa Cash, and the savings account is called Kasasa Saver. My first report on these accounts was in January 2013, and the rates have held steady since that time. At the time of my first report, the bank was accepting new customers from any state. That didn’t last long,...

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PNC’s New Account Bonuses of up to $400 in Several States

PNC Bank has some new promotions for its Virtual Wallet accounts. If you live in one of the qualifying states, you can earn up to $400 in bonuses. This is a big increase from its past promotions. You still have to be careful to avoid monthly service charges.

Here’s the link to PNC’s $400 promotion page. The offer is scheduled to end on 8/29/2014 5/31/2014. You can open the account online or choose to have them email you a coupon to take to a branch. There are three levels of bonuses....

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KeyBank $200 Checking Account Bonus in Some States

Update: This promotion has been extended to May 30, 2014. The new promo code is ONFT0514.

KeyBank has another checking account promotion. Last month it was giving away a Kindle Fire HD. That has been replaced with a $200 cash bonus. Like before it's an online-only offer, and it’s only available in certain areas of the country that are in KeyBank’s market area (see below). Here’s the link to KeyBank’s promo page. The offer is scheduled to last until May 2, 2014.

The bonus requires that you open a qualifying KeyBank...

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Special 46-Month CD at Fort Knox FCU - Beware of Its History - 1.65%
Fort Knox Federal Credit Union

If you haven't been turned off by what Fort Knox Federal Credit Union did in 2011, you may want to consider its current CD special. It just came out with a special 46-month CD with a 2.05% APY. There’s also a special 14-month CD with a 1.00% APY. Minimum deposit is $500. These rates are listed in the credit union's Term Share Certificate Rates page as of 2/21/2014.

The small print at the bottom of the credit union’s rates page describes the early withdrawal penalty:

Note, the small print includes language that...

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BB&T $125 Checking Account Bonus That Doesn’t Require Direct Deposit

BB&T has brought back its $125 checking account promotion. Like the one last year, you can qualify for the bonus without direct deposit. That’s rare these days. The one downside remains the same. All of BB&T's checking accounts have potential monthly service fees. So if you open the checking account for the bonus, you have to make sure to avoid the fees.

To qualify for the $125 bonus, customers must open a BB&T checking account and either 1) use online bill pay for 3 bill payments with a minimum payment of...

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