Louisiana Banking Rates and News

If you live in the market area of Capital One Bank, new customers can still get a good checking account deal. They have been offering this deal for awhile, and I’m still seeing it advertised. It has become a better deal as rates at other banks have fallen. Capital One is guaranteeing a promotional rate (1.00% APY for most areas) for balances up to $100,000 for the first 12 months. Details of this promotion are listed at the Capital One High Yield checking page. Note, it will only show if your zip code is in their...

Regions Bank is again advertising a checking account promotion in which you can earn $125. This is another big bank that lacks free checking so you'll have to be careful to avoid monthly fees. The offer requires a new customer open a LifeGreen Checking Account online with the promo code 125, have at least $500 in total direct deposits and at least 10 Visa check card purchases in the first 60 days. Offer is scheduled to end on 4/7/2013. The offer is listed in this Region's promotion page.

There's no mention of this offer on Region's home...

It's common for banks to offer bonuses for opening a new checking account, but it's less common for reward checking accounts. The high rate of the reward checking account is often enough of an incentive. That's why I was surprised to see this $100 bonus that Home Federal Bank in Louisiana is offering.

The $100 bonus is available for the bank's personal checking accounts which include the Smart Rewards Checking. I first reviewed this account in 2011 when it was paying 4.00% APY for balances up to $25K. Surprisingly, it still pays 4.00% APY. The balance cap has fallen,...

Louisiana is one of the states with highest deposit rates, and some of the best CD rates continue to be offered by Jefferson Financial Credit Union. There are two rate tiers, and the top tier only requires a $10,000 minimum deposit. The following are the most competitive share and IRA certificate rates listed at the credit union's share certificates rates page as of 12/7/2012:

• 2.25% APY 5-year CD and IRA CD
• 2.00% APY 4-year CD and IRA CD
• 1.75% APY 3-year CD and IRA CD
• 1.50% APY 2-year CD and IRA CD

The above rates require a minimum deposit of $10,000....

Update 9/28/2012: Readers have been told by the bank CSRs that the yield is scheduled to fall from 3.25% to 2.25% on October 15, 2012.

Community Trust Bank is offering a very competitive reward checking account that it calls Trust Plus Checking. Both the rate and the balance cap make this a good deal. The details are shown below. The rates and balance cap are based on what's listed at the bank's rates page as of 9/25/2012:

• 3.25% APY for balances up to $30,000
• 1.00% APY for portion of balance over $30,000
• 0.10% APY on all balance if requirements are...

If you live in the market area of Capital One Bank, new customers can get a good checking account deal. They're guaranteeing a promotional rate (1.00% APY for most areas) for balances up to $100,000 for the first 12 months. Details of this promotion are listed at the Capital One High Yield checking page. Note, it will only show if your zip code is in their market area.

This 1.00% APY promotion appears to be offered in all of Capital One market areas which includes Washington DC, Delaware, Maryland, New Jersey, New York, Texas and Virginia....

With the recent rate cut of Patelco Credit Union's special 7-year CD, we have a new 7-year CD rate leader for CDs available nationwide. It's Northrop Grumman Federal Credit Union which has a 2.19% APY 7-year CD for a minimum deposit of $40,000. The yield is 2.04% APY for a $2,500 minimum deposit. Its 5-year CD rate isn't quite a rate leader, but it's near the top with a 1.88% APY for a $40,000 minimum (1.72% APY for a $2,500 minimum). These rates are listed in the credit union's term savings rates page as of...

Regions Bank is advertising a checking account promotion in which you can earn $125. This is another big bank that lacks free checking so you'll have to be careful to avoid monthly fees. The offer requires a new customer open a LifeGreen Checking Account online with the promo code Online125Bonus, have at least $500 in total Direct Deposits and at least 10 Visa CheckCard transactions in the first 60 days. Offer is scheduled to end on 9/30/2012. The offer is listed in this Regions promotion page.

There's no mention of this offer on Region's home page. I...

Crescent Bank & Trust is offering several very competitive mid-term and long-term CD rates. My last report of this bank was back in 2010. Its rates haven't changed much while rates of other banks have fallen. That has made its rates very competitive. The best one is a 2.50% APY 5-year CD. Minimum deposit is $1,000. There are also 3 very competitive CD specials with a $5,000 minimum deposit. These include a 2.25% APY 44-month CD, a 2.20% APY 37-month CD and a 2.15% APY 35-month CD. These rates are listed in the bank's rates page...

Northrop Grumman Federal Credit Union used to be a rate leader for many CD and IRA CD terms. That changed a couple of years ago. I just noticed that the credit union's CD rates are becoming more competitive. In addition, it has recently added a 7-year CD that also has competitive rates. The best one is a 2.42% APY for a $40K minimum deposit (2.26% APY for a $2.5K minimum). The 5-year CD rate is also fairly competitive with a 2.05% APY for a $40K minimum. These rates are listed in the credit union's term savings...

Community Trust Bank is offering a 13-month CD special with some competitive rates. If you meet all the checking account requirements, you can get a very competitive rate of 1.65% APY. That requires opening a checking account with a debit card, online banking, e-statements and direct deposit. Without direct deposit, the rate falls to 1.40% APY. Without a checking account, the rate is still quite competitive with a 1.15% APY. Minimum deposit is $5,000, and new money is required. This special is listed at the bank's promotions page as of 2/3/2012.

It appears that a branch visit...

Air Force Federal Credit Union did something that's not common these days. It made some large rate increases on its share certificates. Its long-term CDs and IRA CDs are now competitive. The best ones include a 2.75% APY 7-year CD, 2.20% APY 5-year CD and a 1.60% APY 3-year CD. Minimum deposit is $100,000. For the 7-year and 5-year CDs, rates are 5 basis points lower for a $2,500 minimum deposit. These rates are listed in the credit union's rates page as of 1/19/2012.

The credit union's early withdrawal penalty is a little convoluted:

The early withdrawal penalty...