New Mexico Banking Rates and News

Washington Federal is offering a special short-term CD. It's a 7-month CD with a 1.00% APY. Minimum deposit is $1,000, and the maximum is $250,000. Thanks to DA reader Pearlbrown who first noted this special in the forum. I found this special mentioned at this Washington Federal deposit rates page on 3/5/2013.

In 2011 Washington Federal had offered top rates on its 5-year CDs. Most of its current standard CD rates are not too competitive.

A branch visit has been required to open accounts. For those who prefer opening a CD in a branch, this bank may...

After other credit unions have cut their CD rates, Mountain America Credit Union (MACU) now has the best 5-year CD and IRA CD rate as compared to other major credit unions. Mountain America calls these Term Deposits. The 5-year Term Deposit has a 2.00% APY. Minimum deposit is $500. This rate is listed at MACU's rates page as of 2/12/2013. Rates are subject to change at anytime.

Some of the term deposit details are listed in the credit union's membership agreement. However, it doesn't appear to list the early withdrawal penalty. When I last...

Bank of the West has recently brought back its $150 checking account promotion. It looks like the same promotion they were offering last summer. Just like the last one, there's also a $200 bonus, but that requires a checking account with high monthly service fees that can't be easily waived. These promotions are listed on Bank of the West's home page.

Details for the $150 bonus are listed in this Bank of the West promotions page. The checking account must be opened by 3/8/2013.

To qualify for the full $150 requires the following:

• Must open a...

BBVA Compass has changed its checking account promotion for the new year. Instead of a cash bonus, this new one offers a free Kindle Fire HD. Unlike the previous one, this new one requires direct deposit (and they specifically exclude bank-to-bank transfers). Here's the link to the new promotion. Below are the steps required for the bonus:

• Open a consumer checking account with a $25 minimum deposit by 3/31/2013
• Have a qualifying direct deposit of at least $300 from an unrelated third party post to the account within 90 days of account opening, AND
• Make 3 online bill payments...

BBVA Compass has been offering competitive rates on its Featured CDs for the last several months. I just learned this morning that customers can receive an extra 10 basis points on the 24-month and 60-month Featured CD rates if the customer also opens a checking account. Below is a summary of the rates as of 11/5/2012:

• 2.10% APY 5-year CD with checking (2.00% w/o checking)
• 1.35% APY 2-year CD with checking (1.25% w/o checking)

These rates without a checking account are listed at BBVA Compass CDs page, but the extra rate with a checking account doesn't appear to be...

Bank of the West has just started a new checking account promotion with a bonus of up to $150. There's also a $200 bonus, but to qualify you must open a checking account that requires a large balance to avoid a high monthly service charge. These promotions are listed on Bank of the West's home page.

Details for the $150 bonus are listed in this Bank of the West promotions page. The checking account must be opened by 8/31/2012.

To qualify for the full $150 requires the following:

• Must open a new Easy Checking, Choice Interest Checking,...

Sandia Laboratory Federal Credit Union (SLFCU) is offering competitive rates on its 2-year and 3-year share and IRA share certificates. The highest rate is 2.02% APY for a minimum $200,000 deposit in a 3-year IRA CD. The 2-year IRA CD rate for a $200,000 minimum deposit is 1.61% APY. Regular CD rates are 10 basis points lower. Rates fall 10 basis points for minimum deposits of $100,000, $50,000 and $1,000. Below is a sample of the CD and IRA CD rates for a $100,000 minimum deposit as listed in the credit union's rates page as of...

Mountain America Credit Union (MACU) has a competitive 5-year CD and IRA CD rate. MACU calls these Term Deposits. The 5-year Term Deposit has a 2.00% APY. Minimum deposit is $500. This rate is listed at MACU's rates page as of 6/11/2012. The rates for the shorter terms are much less competitive.

I can't find an account disclosure online. When I last contacted the credit union in 2010, I was told that the "penalty for early withdrawal on a 5 year term deposit is 180 days worth of interest."

Credit Union Membership

Credit union membership is open to members...

Mountain America Credit Union (MACU) is listing another checking account promotion. The bonus is a little smaller than what it was offering in November, but it's still a good deal. The new bonus is $100, and it requires that you print the coupon and bring it into any branch. At the branch, you must open a new checking account, set up direct deposit and eStatements. The coupon and the offer details are available at MACU's Facebook promotions page as of 6/11/2012. The promotion is subject to change at any time.

Below is the offer's small print:

To qualify...

BBVA Compass is offering some competitive rates on its Featured CDs. It continues to offer a good deal on the 5-year CD with a 2.00% APY. It has added some good deals for the shorter terms. The two best are a 1.25% APY 2-year CD and a 1.00% APY 15-month CD. Minimum deposit is $500, and the maximum deposit is $1,000,000. These rates are listed on its CD rates page for Southern California as of 6/4/2012. Rates may vary by area. I've confirmed these rates for several locations including Southern California, Houston Texas and Jacksonville Florida.

I...

11/30/2012: The promotion has been extended to December 31, 2012.

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 December 31, 2012 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...

Update 6/26/2012: The promotion is now available until July 31, 2012. Also, the direct deposit now requires a $150 minimum.

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: