New York Banking Rates and News

We’re now seeing some large banks raising their long-term CD rates. The latest is Fifth Third Bank which is offering a special 4-year CD with a 1.50% APY. You can get a higher 4-year CD rate at a few internet banks and credit unions, but this 1.50% APY is competitive especially for large banks. There are also shorter-term CD specials: a 1.25% APY 38-month CD and a 1.00% APY 28-month CD. Minimum deposit is $5,000, and a new or existing checking account is required. These rates are listed in Fifth...

Dollar Bank has brought back its checking account promotion in which you can earn up to $150. To get the full $150 requires debit card purchases, direct deposit and waiting for one year. The full details are listed in the bank's promotions page. The offer is scheduled to end on 9/30/2013.

The first $50 is paid as a rebate on your signature-based debit card purchases. The second $50 is a credit for receiving cumulative direct deposits of $250 or more. The third $50 credit will be paid within 2 months of...

Wright-Patt Credit Union increased its long-term CD and IRA CD rates, and they’re now very competitive. This is one of the rare institutions that offer 6-year terms. Its Jumbo 6-year CD APY increased from 2.10% to 2.30%, and its Jumbo 5-year CD APY increased from 1.90% to 2.05%. The Jumbo minimum deposit is $100,000. The rates are 10 bps lower for a $500 minimum deposit. These rates are listed in the credit union's rates page as of 8/30/2013.

The IRA share certificates have the same rates as the regular share certificates....

This is another case of a bank raising long-term CD rates. Dollar Bank raised its 10-year, 6-year and 5-year CD and IRA CD rates this week. The most competitive ones are now its 6-year and 10-year CDs. The 6-year CD has a 2.00% APY and the 10-year CD has a 2.75% APY. The 5-year CD is not quite as competitive with a 1.50% APY. Slightly higher rates are available with CD ladder and relationship options. These rates are listed in Dollar Bank’s rates page as of 8/23/2013.

Dollar Bank’s early withdrawal...

In today’s interest rate environment, most short- and mid-term CD rates are not much higher than the rates you can get from top internet savings accounts. That’s not the case for the CD specials being offered by Firelands Federal Credit Union. It’s offering two CD specials with very competitive rates. These include a 2.00% APY 18-month CD and a 1.60% APY 1-year CD. There’s also a 9-month CD which has a good rate but not an exceptional rate of 1.00%. New money is required, and these are not available in...

Last month I reported on a special 45-month CD at Third Federal Savings & Loan. That didn’t last long. It has been replaced by a special 6-year CD. This new 6-year CD has a 2.00% APY with a minimum deposit of $500. This special is listed in the bank’s CD page as of 8/15/2013. According to the bank's disclosure, the early withdrawal penalty is 18 months’ interest. This applies to CDs with terms of 4 years or more.

Third Federal has a long history of offering competitive 6-year CDs. I remember...

It has been awhile since Bayer Heritage Federal Credit Union has been offering top CD rates. Perhaps this is another follower of rising Treasury yields. On August 1st the credit union made big increases to its long-term CD rates. Its 5-year CD rate increased from 1.64% to 2.02% APY, and its 4-year CD rate increased from 1.38% to 1.76% APY. These 5-year and 4-year CD rates are now very competitive. Minimum deposit is $500, and these are also available in an IRA. These rates are listed in the credit union's...

Third Federal Savings & Loan has recently started to offer a 45-month CD special with a 1.50% APY. Minimum deposit is $500. This special is listed in the bank’s CD page as of 7/16/2013. According to the bank's disclosure, the early withdrawal penalty is 12 months’ interest. This applies to terns of at least 3 years and less than 4 years.

Third Federal used to offer top rates on its 6-year CD, but that’s no longer the case. The current 6-year CD only has a 1.25% APY. I remember back in...

KeyBank has another checking promotion that it has been advertising. Thanks to the readers who emailed me news on this. The promotion offers a $200 bonus which is larger than many of the past bonuses. 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). But unlike past promotions, the only requirement is direct deposit. There’s no debit card usage requirement.

KeyBank doesn’t have the best reputation among many DA readers. You can read the problems customers...

There have been two changes at Dayton Firefighters Federal Credit Union that have helped savers. First, its long-term CD and IRA CD rates just had a big jump. Second, the credit union’s field of membership has expanded allowing more people to be eligible to join. The credit union now has a 2.08% APY 5-year Jumbo CD and a 1.78% APY 4-year Jumbo CD. The Jumbo minimum deposit is $100,000. For a minimum deposit of $2,000, the rates are 10 bps lower. These rates are listed in the credit union’s savings...

KeyBank has another checking promotion in which you can earn $150. It's very similar to the $150 bonus that it was offering last year. Like before it's an online-only offer, but the online application only accepts certain areas which appear to be in their market area (see below).

KeyBank doesn’t have the best reputation among many DA readers. You can read the problems customers have experienced in the comments of my 2012 KeyBank post and in my 2011 KeyBank post. If you have experience with KeyBank promotions and checking accounts, please...