New Mexico Banking Rates and News

BBVA Compass is offering its first major checking account promotion since it added new checking account fees. The promotion is listed on the bank's home page. Here's the direct link to the promotion. You can earn $100 for opening a new Build-to-Order or CompassLink Checking Account online by June 30, 2012. Also required is either a qualifying direct deposit or 3 online bill payments of at least $50 each within 60 days of online account opening. Below is the offer's small print:

$100 Bonus Terms & Conditions: New consumer checking accounts opened online from May 4, 2012...

The seven banking divisions of BOK Financial Corporation are offering a cash bonus for opening a new checking account. Four of the divisions are offering a $100 bonus, and the other three are offering a $50 bonus. To qualify for the bonus, the customer must either activate direct deposit OR make 10 debit card purchases ($10 minimum per transaction). The promotion is scheduled to end on May 31, 2012. Below are the links to the promotion pages of the seven divisions:

• $100 bonus at Bank of Texas (free checking)
• $100 bonus at Colorado State Bank and...

Update 5/25/2012: The 5-year Premium Money Market CD rate has fallen. According to the CSR, it's now 1.65% APY (down from 1.80% APY on 5/11). This is for California. Rates may vary for other states.

It's not common to find competitive CD rates at large brick-and-mortar banks, but I found one at Bank of the West. It's offering a 2.00% APY 5-year CD. This is the bank's Premium Money Market CD which requires a $2,500 minimum deposit. The rate isn't listed online, and it may vary by state. I called the bank yesterday (3/27/2012) and verified it for the bank's...

Washington Federal is offering a new checking account promotion in which customers can receive either an Amazon Kindle or Kindle Fire. The details are listed at Washington Federal's promotion page. The promotion is scheduled to end on May 31, 2012.

To qualify for the Amazon Kindle ($79 value), a Simple or Performance Checking Account must be opened. To qualify for the Kindle Fire ($199), a Stellar Checking account must be opened. As you might expect, you'll have to worry about monthly fees, especially for the Stellar Checking account. However, if you're careful, these could be good deals....

Bank of the West has just started a new checking account promotion with a bonus of up to $100. In addition, the bank will donate $25 to local schools. You can also earn another $25 by opening a credit card with the checking account. I didn't include this in the total bonus since there are many credit card bonuses that are over $25.

Bonus Details are listed in this Bank of the West promotions page. The checking account must be opened by 4/27/2012.

If you decide to give this promotion a try, don't forget Bank of the West...

It has been a while since BBVA Compass has offered competitive CD rates. BBVA Compass currently has one CD rate that's competitive. It's a 5-year CD with a 2.00% APY. Minimum deposit is $5,000, and the maximum is $1 million. This is listed on its CD rates page as of the morning of 2/7/2012. Rates may vary by area. I've confirmed this rate for several locations including Southern California, Houston Texas and Jacksonville Florida.

BBVA Compass provides few CD details on its website. I had to call their Telephone Banking Department at 1-800-266-7277 (option 2)...

Washington Federal continues to offer a competitive 5-year CD rate. For a minimum deposit of $90K, it's 2.30% APY. The 3-year and 4-year CD rates are also competitive: 1.55% APY for 3 years and 1.80% APY for 4 years. The rates are 5 basis points lower for a $1K deposit. These rates are listed in the bank's rates page as of 12/07/2011.

I first reported on this deal in September. When I called the bank in September, I was told that the rates are typically not changed until Fridays. One downside to this 5-year...

Mountain America Credit Union has increased the bonus amount of its Facebook checking account promotion. In mid October a reader mentioned a $100 checking incentive. It's now $125. They want you to "like" their Facebook page before they will show you the flyer. If you don't have a Facebook account, here's the direct link to the checking promo flyer (PDF). The flyer provides the following instructions:

Bring this coupon to any branch. Open your new checking account, set up free direct deposit and free eStatements to get your $125 bonus.

There is no expiration date...

Washington Federal is offering a competitive 5-year CD rate. For a minimum deposit of $90K, it's 2.30% APY. The rate is 5 basis points lower for a $1K deposit. These rates are listed in the bank's rates page as of 9/19/2011.

When I called the bank last Thursday, I was told that the rates are typically not changed until Fridays. One downside to this 5-year CD is its early withdrawal penalty of 1 year of interest which is larger than the typical 6 months of interest.

A branch visit is required to open an...

Bank of the West has just started a new checking account promotion with a $100 bonus that's scheduled to last until 9/16/2011. Here's the link to the offer. Unlike previous Bank of the West promotions, this one requires direct deposit. There doesn't seem to be online bill pay option. Like previous promotions, only those who reside in their market area are eligible (see below for the eligible states). The bank is still advertising a free checking account with no monthly service charges or monthly fees. This is becoming rare for large banks.

Below is the...

The banks that are the subsidiaries of BOK Financial Corporation are offering competitive rates on its 7-year CD and IRA CD. The highest possible rate is 3.05% APY. This requires a minimum $100K and a checking account. The rate is 3.00% APY for a $1K minimum. Without a checking account the rates are 2.95% APY for a $100K minimum and 2.90% APY for a $1K minimum. According to the bank CSR, the early withdrawal penalty is 12 months of interest. These rates are accurate as of 4/28/2011.

All of the banks under BOK Financial are divisions...

It has been a while since I've reviewed a reward checking account. I just came across one in New Mexico that has a respectable yield. It's at BANK'34, and the reward checking account is called GrOw Green Checking. The account has the following rates and features if certain monthly requirements are met (as of 3/30/2011):

• 3.40% APY for balances of $500 to $20,000
• 0.25% APY for portion of balance over $20,000
• 0.00% APY and $5 service charge if requirements are not met

Monthly requirements include:

• 15 credit/signature-based debit card purchases
• 3 online bill pay transactions
• eStatements

This is one of the rare reward checking...