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Massachusetts Banking Rates and News

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

Blue Hills Bank (MA) Introduces New 5-Year Bump Rate CD - 2.1%
Blue Hills Bank

Last week, Blue Hills Bank (Massachusetts) introduced a 5-Year Bump Rate CD (2.10% APY) and a 3-Year Bump Rate CD (1.35% APY). While the 3-Year Bump Rate CD is not that competitive, the 5-Year Bump Rate CD is definitely worth consideration. A $500 minimum deposit opens this 5-Year Bump Rate CD, with interest compounded monthly.

The Early Withdrawal Penalty is six months interest on the amount withdrawn.

According to Blue Hills Bank's Disclosure Page, the Bump Rate feature is as follows:

Availability

Blue...

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Citizens Bank's CollegeSaver Account Rewards with End of Term $1,000 Bonus - 0.1%
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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High-Rate 33-Month CD Special at Everett Co-operative Bank in MA - 1.25%
Everett Co-operative Bank

Everett Co-operative Bank just came out with two CD specials. The best one is a 33-month CD that has a 2.30% APY. One downside is that an active ECB NOW Account with direct deposit is required to open this special CD. Also, it’s not available as an IRA. At maturity this CD will automatically renew to a 12 month CD unless the customer chooses another product. There’s also a 25-month CD special, but this has a much lower rate of 1.25% APY. This doesn’t appear to require the checking account....

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Higher Long-Term CD Rates in Several States at First Republic Bank
First Republic Bank

First Republic Bank has again increased its long-term CD rates, and now they are even more competitive. The 6-year CD rate increased 10 basis points to 2.35% APY. The 5-, 4- and 3-year CD rates increased by 25 basis points. The new rates are 2.25% APY for the 5-year CD, 2.00% APY for the 4-year CD and 1.50% APY for the 3-year CD. Minimum deposit is $10,000. These rates are listed at the bank's rates page as of 6/17/2014. Rates may vary by location. You have to select your region...

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USAlliance FCU Increases Rate of its 35-Month CD Special - 1.71%
USAlliance Credit Union

USAlliance Federal Credit Union has made a nice change to its spring CD special. The rate of its special 35-month CD increased from 1.61% to 1.71% APY. Its special 13-month CD rate remains at the very competitive level of 1.21% APY. Both have a $500 minimum deposit with no maximum deposit. New money and eStatements are required. These specials are listed at the credit union’s CD specials page as of 5/23/2014.

In my last review of USAlliance CDs, DA member cumulus described his experience last year with opening a USAlliance...

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Top Rate on a 2-Year CD at Institution For Savings - MA Only - 1%
Institution for Savings

Last year Institution for Savings started offering 2% CDs with terms under 5 years. The bank just came out with a new 2% CD with a term of only 2 years. Minimum deposit is $500, and the early withdrawal penalty for this 2-year term is 6 months of interest, earned or not earned. The CD details and the link to the rates page are listed in the bank’s CD page as of 5/15/2014. Thanks to DA member scottj who reported on this promo in the DA forum.

When I last...

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Special CDs with Top Rates at USAlliance FCU - Easy Membership - 1.71%
USAlliance Credit Union

USAlliance Federal Credit Union has regularly offered CD specials. The latest one is a spring special with two very competitive CD rates: 1.21% APY for a 13 month term and 1.61% APY for a 35 month term. Minimum deposit is $500, and there’s no maximum deposit. New money and eStatements are required. These specials are listed at the credit union’s CD specials page as of 5/2/2014. Thanks to DA readers cumulus and scottj who mentioned these promos in the DA forum.

Membership

The credit union has an online application that can...

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$200 Checking Account Bonus at Avidia Bank
Avidia Bank

Avidia Bank is offering a nice cash bonus to new checking account customers. You can earn up to $200 for opening a checking account and for using some of its banking services. The full $200 can be earned without direct deposit. The qualifying checking accounts are the Smart Checking and the Value NOW Checking. The Smart Checking is a free checking account with no monthly service charges. Once the checking account is opened, you can earn $50 for each of the following services:

  • Sign up for eStatements
  • Have a Direct Deposit or...
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Checking and CD Specials at Liberty Bank in Connecticut - EXPIRED
Liberty Bank

Update 5/14/2014: These CD specials have ended.

Liberty Bank in Connecticut is offering some good deposit specials. The first is called the "Pick Your Term CD Special", and it offers three competitive rates: 2.50% APY for 5 years, 2.25% APY for 4 years and 2.00% APY for 3 years. Minimum deposit is $1,000, and the maximum is $250,000 with a limit of one account per household. A checking account is required. More details are listed in the bank’s promotions page as of 4/8/2014. One thing not mentioned at that page is...

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First Republic Bank Raises Long-Term CD Rates in Several States
First Republic Bank

First Republic Bank has recently increased its 5-year and 6-year CD rates, and they’re now competitive. You can get higher rates on the internet, but for those who prefer to open CDs at a branch, these might be appealing. The 6-year CD has a 2.25% APY, and the 5-year CD has a 2.00% APY. Minimum deposit is $5,000. These rates are listed at the bank's rates page as of 4/1/2014. Rates may vary by location. You have to select your region to see the CD rates. I have selected a...

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High-Rate 63-Month CD Special at Everett Co-operative Bank in MA
Everett Co-operative Bank

Everett Co-operative Bank just came out with a 63-month spring CD special. It has a very competitive rate of 3.00% APY. Minimum deposit is $500, and the maximum deposit is $250,000. An Everett Co-operative Bank NOW Checking Account is required to open this special CD. This CD special is listed at the bank’s deposit rates page as of 3/20/2014.

No out-of-state deposits are allowed for this special CD. It’s a small bank with one branch located in Everett, Massachusetts which is just north of Boston.

The bank has an overall health...

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Special 3-Year CD Rate at Transportation Federal Credit Union in DC
Transportation Credit Union

Transportation Federal Credit Union is celebrating its 75-year anniversary with a special CD that it calls the Diamond Anniversary Share Certificate. It has a 2.00% APY with a 3-year term. Minimum deposit is $1,000. This is a limited-time offer. This special CD is listed in the credit union’s promotions page as of 2/21/2014.

The CD can be opened online, by phone or at one of the credit union’s branches. The details are listed in the promotions page.

Credit Union Membership

In 2012 when I reviewed this credit union, there didn’t seem to be...

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