Ohio Deposit Account Rates and Deals

Connexus Credit Union has increased the rates on their internet CDs, but they added an interesting catch. The 6-month CD rate is now very competitive at 1.50% APY. The other rates are also competitive: 1.75% APY for 12 months and 3.00% APY for 60 months. These rates are listed at the credit union's deposit rates page as of 8/12/2010.

The catch is that these CD rates now require an "active checking". Here's how they define active checking in the small print:

Active Checking is defined as having at least 1 Direct Deposit of net pay, including salary, wages, government benefits or pension made to the account each month; having 10 checks and/or signature debit card transactions clear the account by the last business day of each month; and electing to receive eStatements.

Note how similar these requirements are to their reward checking requirements. So if you already have one of their reward checking accounts, you should be able to easily qualify for these CD rates.

Reward Checking

The bad news about their reward checking accounts is that the rates have gone down. The top rates as of 8/12/2010 are 2.55% APY for up to $25K in the Xtraordinary Checking and 2.25% APY for up to $25K in the MyRewards Checking. As I described in my 2008 review of these accounts, the Xtraordinary Checking requires 15 debit card purchases a month instead of 10 that's required by MyRewards Checking. It also has an extra requirement of bill pay.

Connexus Credit Union has been offering a reward checking account since 2007 when the yield was 6.01%. There are not many reward checking accounts that have been available nationwide for 2 or more years that have held up well. Danversbank is one of the exceptions. It continues to pay 4.01% APY on balances up to $25K.

Other Accounts

Connexus Credit Union also has good deals on a money market account and an HSA. Please refer to this review for more info on these accounts.

Membership

Membership is open to members of the Connexus Association. According to the credit union's About Us Page:

anyone can join Connexus Credit Union by first becoming a member of our Connexus Association.

I've been told that the Connexus Association requires a one-time $5 donation, and membership into Connexus Credit Union requires a $5 deposit in the savings account.

Credit Union Overview

The credit union is headquartered in Wausau, Wisconsin. Branches are located in Wisconsin, Ohio and New Hampshire. It appears Connexus started out as an employee-based credit union for Liberty Mutual Insurance. Most of their branches are in Liberty Mutual offices.

Connexus Credit Union's rating for safety and soundness are above average: 4 stars (excellent) at BauerFinancial, 3 stars (performing) at Bankrate.com and an overall health score of 4 out 5 at DepositAccounts.com (see our financial overview for Connexus Credit Union). These ratings are based on March 2010 data. The credit union is federally insured by the NCUA (Charter # 66538).

Searching for the Best CD and Reward Checking Rates

• Best CD rates
• Best Reward Checking Rates

PNC Bank has another $100 bonus for opening a checking account. It's not as good as the $125 July bonus, but this $100 bonus appears to be the best PNC bonus currently available. Here's the direct link to the promotion. It requires direct deposit of at least $400 per month along with 10 check card purchases. According to the small print, the checking account must be opened via the online application by 9/30/2010. Here's some of the small print as listed in the promo page with my highlights of the important things to note:

Offer available only to new PNC customers. New personal checking account must be opened via online application between 8/01/2010 and 9/30/2010. To qualify for the $100 reward a Qualifying Direct Deposit must be received and at least 10 check card purchases made with your PNC Visa Check Card must be posted to the eligible account within 60 days of account opening. Your checking account must remain open in order for you to receive the $100 reward, which will be credited to the eligible account within 60 days after all conditions have been met and will be identified as "Promo Reward Cash Trans" on your monthly statement. A "Qualifying Direct Deposit" is defined as a recurring direct deposit of a paycheck, pension, social security or other regular monthly payment electronically deposited into a Free, Performance, Performance Select Checking account, or the Spend account for Virtual Wallet (each an "Eligible Account") on a recurring month-to-month basis. The amount of each recurring Direct Deposit must be at least $400. The recurring Direct Deposits must be made by an employer or an outside agency. Credit card cash advance transfers, transfers from one account to another or deposits made at a branch or ATM do not qualify as Qualifying Direct Deposits. Offer only available to new PNC Bank checking account customers who open the Eligible Account using the on-line application. Offer only available to residents of DC, DE, FL, IL, IN, KY, MD, MI, MO, NJ, OH, PA, VA and WI. Offer may be extended, modified or discontinued at any time and may vary by market. This is an online offer that is not available through the branch.

PNC Bank's Virtual Wallet

One of the checking accounts that can qualify for the bonus is the Spend Account which is part of PNC's Virtual Wallet. Another part of Virtual Wallet is the Grow Account which is a savings account that pays 1.10% APY on balances up to $25K as of 8/8/2010. Please see my PNC Virtual Wallet review for more details.

PNC Q2 Results and Its Deposit Strategy

PNC released its second quarter results in late July. It reported a better-than-expected second-quarter profit. One thing I found interesting in PNC's press release was the description of its plans to grow checking account deposits while shrinking CD deposits. Here's an excerpt:

Average deposits of $182 billion declined $.8 billion compared with the first quarter of 2010 and $10.4 billion, or 5 percent, compared with the second quarter of 2009. In both comparisons, average deposits decreased due to the continued reduction of high-cost and primarily nonrelationship certificates of deposit and other time deposits, partially offset by growth in average transaction deposits. This was consistent with PNC’s overall deposit strategy focused on growing demand and other transaction deposits as a lower-cost funding source and the cornerstone product of customer relationships.

You can see PNC executing this strategy with these checking account bonuses and its very-low CD rates (one example: 1.50% 5-year CD in Florida).

The conversion of National City branches was also mentioned in the press release:

PNC successfully completed the National City conversion of 16 million accounts, 6 million customers and 1,300 branches in nine states.

I know many readers will miss those National City CD specials that were so popular a couple of years ago.

PNC Bank has been a FDIC member since 1934 (FDIC Certificate # 6384).

Other Bank Bonuses

To find other bonus deals at other banks, please refer to my bank bonus page which has all of my recent bank bonus blog posts. Some additional bonuses are also listed in the checking account deals section of the discussion forum.

Northwest Savings Bank is offering a $100 bonus for opening a new Switch Checking Account. Details of this promotion are listed in the bank's promotions page as of 7/29/2010. Some important details include:

• $100 minimum opening deposit
• To qualify, customers must initiate a monthly direct deposit of $100 or more
• Switch Rewards, Switch Free, or Switch Interest Checking Account qualify
• $100 credit will be posted to the account within 7 days of the first verified Direct Deposit
• $100 credit is subject to a 1099 reporting

A reader in a previous Northwest Savings post mentioned that his $100 opening deposit triggered the bonus. So a real direct deposit may not be required. As usual your miles may vary.

Here's a summary of the checking accounts. The GO! Rewards Checking is a free checking account. It's not a high-yield reward checking account. The rewards are based on the amount you spend with the debit card. Another perk with this account is that you earn 10,000 points when you open the account. Note, online bill pay is free only if you pay at least one bill per month.

Refer-a-Friend Deal

The bank also has a good refer-a-friend deal in which you can earn $50 for each friend who opens a qualifying account. Plus, you can get a $10 Apple iTunes gift card just for inviting 5 or more friends, and there's the chance to win an iPod nano.

Only for Those in Certain Areas of FL, MD, NY, OH & PA

There's an online application link at the promotion page. However, on the first page of the application it states:

All residents of the United States that are within the Northwest market area are welcome to apply for an account.

Branches are located in parts of Florida, Maryland, New York, Ohio and Pennsylvania.

Decent CD Rates

The bank also has some decent CD rates. They're not good enough for a separate post, but I wanted to mention them for those who may live near one of their branches. You have to enter your zip code to see the rate table so rates may vary by location. For South Florida, the best rates include a 3.00% APY 6-year CD, a 2.80% APY 5-year CD, a 2.10% APY 3-year CD and a 1.50% APY 18-month CD. These were listed at the bank's South Florida rate sheet as of 7/29/2010.

The bank's ratings for safety and soundness are strong. At DepositAccounts.com we give the bank an overall health score of 5 out of 5 (see our financial overview for Northwest Savings Bank). The bank has been a FDIC member since 1939 (FDIC Certificate # 28178).

Other Bank Bonuses

To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts.

PNC Bank has another checking account bonus. They are offering a little more than last month. From the home page of their website, they're listing a bonus of up to $125. Here's the direct link to the promo page. To receive the first $100 requires direct deposit of at least $400 per month along with 10 check card purchases. To receive an extra $25 requires signing up for online banking and making 5 payments through Online Bill Pay. Offer is scheduled to end on July 24, 2010. The promotion applies to both the Virtual Wallet and the Free Checking Account.

There's also a $150 bonus being advertised in the St. Louis area. This was advertised in yesterday's (7/11/10) St. Louis Post-Dispatch. The ad is available online here. The requirements for this $150 appear to be the same as for qualifying for the $100 that's mentioned at PNC's website: 1) direct deposit of at least $400, and 2) at least 10 debit card purchases.

Here's some of the small print as listed at PNC's promo page with my highlights of the important things to note:

New personal checking account must be opened between 7/11/2010 and 7/24/2010. To qualify for a $100 reward, a PNC Bank Visa Check Card must be issued to you, a qualifying direct deposit must be received, and at least 10 purchases made with your Check Card must post to your checking account within 60 days of account opening. To qualify for an additional $25 reward, the first conditions must be met and a minimum of 5 payments must be completed via PNC Online Bill Pay, also within 60 days of account opening. Your checking account must remain open in order for you to receive the $100 or $125 reward, which will be credited to the eligible account within 60 days after all conditions have been met and will be identified as "Promo Reward Cash Trans" on your monthly statement. A qualifying Direct Deposit is defined as a recurring Direct Deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited into a Free, Performance or Performance Select Checking Account, or the Spend Account for Virtual Wallet. The minimum amount of any single Direct Deposit must be at least $400. The Direct Deposit must be made by an employer or an outside agency. Transfers from one account to another, or deposits made at a branch or ATM, do not qualify as Direct Deposits. Limit of one premium payment per new account legal equity ownership. For this offer, legal equity ownership will be defined by the customer name(s) and social security number(s) on the account. PNC Bank customers with an existing checking account are not eligible for this offer. Offer only available to residents of DC, DE, FL, IL, IN, KY, MD, MI, MO, NJ, OH, PA, VA and WI. Offer may be extended, modified or discontinued at any time and may vary by market.

Some additional details about this Free checking account and the other checking accounts are in PNC Bank's Schedule of Service Charges and Fees. There was some concern in my last PNC post that the debit card would have a fee. This does not appear to be the case for the Free Checking account. The only potential recurring fee I see in the above document is $10 per year for having the Banking Card linked to a checking account. The CSR did not think this applied for the Free Checking. However, terms can vary based on your state so you may want to confirm this.

PNC's Virtual Wallet is composed of a checking account and two savings accounts. One of the savings account is the Growth Account which has a fairly competitive yield of 1.10% for up to $25K (as of 7/12/10). Please refer to my PNC Virtual Wallet review for more details.

In June, PNC Bank announced the completion of the National City conversion which added 1,300 branches to PNC. PNC Bank has been a FDIC member since 1934 (FDIC Certificate # 6384).

Other Bank Bonuses

To find other bonus deals at other banks, please refer to my bank bonus page which has all of my recent bank bonus posts. You can also find additional checking account bonuses, in the Checking Account Deals Forum.

Delta Community Credit Union has lowered its CD rates since my April post, but a few of the CDs remain competitive. The best one is currently their 2-year CD which has a 2.15% APY. Also competitive is the 3.00% APY 5-year CD. The same rates are also available as IRA CDs. Minimum deposit is $1,000. These rates are listed at the credit union's rates page as of 7/09/2010. Note, the credit union typically updates rates at the start of each month.

The credit union's money market account also continues to be competitive with a top rate of 1.45% APY on the $100K tier. This is down from 1.60% in April.

One nice feature of the credit union CDs is a mild early withdrawal penalty: 31-day interest penalty for maturities of 12-months or less and 90 days interest-penalty for maturities over 12 months. Please refer to the bottom of the rates page for more details.

Credit union membership is open to members of the GettingAhead Association. This appears open to people from any state who pay a $5 membership fee. You can be immediately eligible for credit union membership if you're a resident of one of several Georgia counties in the Atlanta metro area, work for one of their Select Employer Groups, or via family (not just immediate family). Please see the credit union's eligibility page for the full details. Membership requires a minimum $5 deposit into the savings account.

Joining the credit union and opening accounts are much quicker if you can visit a branch. Readers commented on their experience joining this credit union in my November 2008 post when the credit union was offering a 4.50% 12-month CD. The reader who joined with a branch visit reported a very easy process.

Branches are located throughout the Atlanta Metro area. There are also branches in Florence, Kentucky (Cincinnati Metro); Salt Lake City, Utah; and Southlake, Texas (Dallas Metro). The credit union is also part of the CU Service Center network which allows you to perform many basic banking transactions at a shared branch.

Delta Community Credit Union's rating for safety and soundness has gone down a bit at Bankrate.com. It's now 3 stars (performing) based on 12/31/09 data compared to 4 stars (sound) when it was based on 9/30/09 data. It continues to have the highest rating at BauerFinancial of 5 stars based on 3/31/10 data. It has an overall health score of 4 out of 5 at DepositAccounts.com (see our Delta Community Credit Union financial overview financial overview). The credit union is federally insured by the NCUA (Charter # 66357). It's a large credit union with $3.62 billion in assets.

WesBanco is offering a $100 checking account bonus. WesBanco is calling it a $125 bonus, but $25 is for referring a friend. I consider refer-a-friend bonuses separate from new-account bonuses. One nice feature is that it does not require direct deposit. On the downside, they have a tough debit card usage requirement that's more difficult than their previous promotions.

Here's the direct link to the promotion. The requirements are below. The promo is scheduled to end on 8/31/2010.

• $50 for direct deposit OR e-statements
• $50 after your first 20 debit card purchases
• $25 for referring your friend

Below is the offer's important small print:

The minimum balance to open an account is $50. Customers with a current checking account, or who transfer funds from an existing WesBanco deposit account, are not eligible for the bonus. Debit card purchases: You must make twenty debit card transactions in 90 days of account opening to earn $50 bonus. Refer a friend: $25 bonus will be credited to account after referred friend opens checking account. One of the following must be chosen in order to earn $50 bonus and debit card sign up is required. Direct deposit: Bonus will be paid after the second recurring direct deposit of at least $100 is credited within 90 days of account opening. E-statements: Bonus will be paid after signing up for e-statements within 90 days of account opening. Valid e-mail address is required to receive the bonus. All bonuses are subject to change without notice and limited to one per customer. Customers that have received a new account opening or debit card usage bonus on any previous WesBanco checking account are not eligible for this offer. Employees are not eligible for bonus. Offer valid through August 31, 2010.

WesBanco does offer a free checking account which has no minimum balance requirements or monthly fees. Online Bill Pay is free.

I've posted on similar deals from WesBanco over the last couple of years. In those past posts readers have commented that WesBanco does require a branch visit.

Branches are located in Ohio, West Virginia and Pennsylvania.

The bank is a FDIC member (Certificate # 803).

Credit for this find goes to FW member depreshun who mentioned this promotion in this FW thread.

Other Bank Bonuses

To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts. Some additional bonus deals are also in the checking account discussion forum. This checking account forum also has updates when bonuses have been extended. I just posted updates for bonuses at Chase and ING Direct.

Community Savings is offering two very competitive 5-year CD rates. For a $10K minimum deposit, the rate is 3.42% APY. It's 3.22% APY for a $1K minimum deposit. Most of the shorter term CDs are not quite as competitive. The one exception is the 12-month CD. They currently list a special 12-month CD with a 1.88% APY. This requires a checking account. The standard rate without a checking account is 1.44% APY. Minimum deposit for both is $10K. These rates are listed in the bank's deposit rates page as of 6/24/2010.

According to the bank's FAQ's page, the early withdrawal penalty for CDs with terms over 12 months is 6 months of interest. The 12-month CD has a 3-month early withdrawal penalty.

Also according to the bank's FAQ's page, accounts can be opened by mail:

You can submit an application for any of our deposit or loan products through the application links on this site. After you have submitted your application, print and mail a signed copy to the Bank along with your initial deposit.

I don't see where the application links are located. I've sent an email to confirm that they can accept out-of-state deposits by mail. It's common for small banks to change their policy on out-of-state deposits.

Branches are located in the Ohio cities of Caldwell and Cambridge.

The bank's ratings for safety and soundness are a little above average: 4 stars (excellent) at BauerFinancial, 3 stars (performing) at Bankrate.com and an overall health score of 3 out of 5 at DepositAccounts.com (see our Community Savings financial overview page). The bank has been a FDIC member since 1953 (FDIC Certificate # 27969).

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Update 7/6/10: There's a new promotions page for the $100 bonus. This one is scheduled to end on 7/31/10.

PNC Bank has another bonus for opening a checking account. It's listed on top of their checking account page. Here's the direct link to the promotion. The Free checking qualifies. It requires direct deposit of at least $400 per month along with 10 check card purchases. According to the small print, the checking account must be opened via the online application by 6/19/2010. However, the CSR said this should last until 7/10/2010. So if this page doesn't change after 6/19, you may want to check with PNC (800-762-5684). Here's some of the small print as listed in the promo page with my highlights of the important things to note:

Offer available only to new PNC customers. New personal checking account must be opened via online application between 6/07/2010 and 6/19/2010. To qualify for the $100 reward a Qualifying Direct Deposit must be received and at least 10 check card purchases made with your PNC Visa Check Card must be posted to the eligible account within 60 days of account opening. Your checking account must remain open in order for you to receive the $100 reward, which will be credited to the eligible account within 60 days after all conditions have been met and will be identified as "Promo Reward Cash Trans" on your monthly statement. A "Qualifying Direct Deposit" is defined as a recurring direct deposit of a paycheck, pension, social security or other regular monthly payment electronically deposited into a Free, Performance, Performance Select Checking account, or the Spend account for Virtual Wallet (each an "Eligible Account") on a recurring month-to-month basis. The amount of each recurring Direct Deposit must be at least $400. The recurring Direct Deposits must be made by an employer or an outside agency. Credit card cash advance transfers, transfers from one account to another or deposits made at a branch or ATM do not qualify as Qualifying Direct Deposits. Offer only available to new PNC Bank checking account customers who open the Eligible Account using the on-line application. Offer only available to residents of DC, DE, FL, IN, KY, MD, NJ, OH, PA and VA. Offer may be extended, modified or discontinued at any time and may vary by market. This is an online offer that is not available through the branch.

Some additional details about this Free checking account and the other checking accounts are in PNC Bank's Schedule of Service Charges and Fees. There was some concern in my last PNC post that the debit card would have a fee. This does not appear to be the case for the Free Checking account. The only potential recurring fee I see in the above document is $10 per year for having the Banking Card linked to a checking account. The CSR did not think this applied for the Free Checking. However, terms can vary based on your state so you may want to confirm this.

National City Conversions

According to PNC, today was suppose to be the completion day for the final phase of the conversion of National City branches into PNC branches. According to this Springfield news article, the conversion was done over the weekend:

All told over the weekend, account information for 1.6 million customers and signs at 390 branches in Illinois, as well as the states of Indiana, Missouri and Wisconsin switched to PNC

PNC Bank has been a FDIC member since 1934 (FDIC Certificate # 6384).

Other Bank Bonuses

To find other bonus deals at other banks, please refer to my bank bonus page which has all of my recent bank bonus posts.

Connexus Credit Union continues to offer very competitive CD rates. Below are the CD rates as listed at the credit union's rates page as of 6/01/2010:

• 1.50% APY 6-month CD
• 1.75% APY 12-month CD
• 2.00% APY 24-month step-up CD (via CSR)
• 2.25% APY 36-month step-up CD (via CSR)
• 3.25% APY 60-month CD

Note, the 24-month and 36-month rates are not listed in the rates page. I just confirmed them via the online chat with the credit union CSR. According to the CSR, these are subject to change at anytime. Minimum deposit is $10,000. These are also available in an IRA. The 2-year and 3-year CDs have a step-up feature that allows you to bump up the rate one time during the term.

One downside to the 60-month CD is a harsh early withdrawal penalty. According to the CSR, it's 365 days of dividends. The 2-year and 3-year terms have a penalty of 180 days of dividends, and the 6- and 12-month terms have a 90-day penalty.

Y.E.S. Money Market Account

Connexus Credit Union continues to offer competitive rates on its Y.E.S Money Market Account. It's a tiered rate account, and the credit union only lists the top rate at its deposit rates page. As of 6/01/2010, the top rate is 1.49% APY. This requires a minimum balance of $100,000. I was informed of the rates for the other tiers in my chat session with the CSR:

• 1.00% APY $1K to $10K
• 1.19% APY $10K to $20K
• 1.29% APY $20K to $50K
• 1.39% APY $50K to $100K
• 1.49% APY $100K+

A reader in my last post mentioned in the comments of an unusual aspect of these rates. I confirmed this with the CSR. The rates on the YES account are prospective rates. If the rate should change at anytime during the month, the new rate is what you would earn on all funds you have in that account from day one of the month.

No interest is earned on balances under $1,000. It has the typical withdrawal restrictions of a money market account (no more than 6 withdrawals per month). Checks must be a minimum of $250, otherwise there's a $29.95 fee.

I first posted on this money market account in July 2009 so it has a history of high rates. I'm disappointed that they still only list the rate of the top tier. If you email them, they can send you the full rate tiers.

In my July post a reader commented that the credit union does a hard credit inquiry when you open an account. However, additional accounts won't trigger a hard pull if opened within 90 days. A hard pull will temporarily ding your credit score.

Reward Checking Accounts

Connexus also offers two reward checking accounts (see post) and a competitive health savings account (see post).

Membership

Membership is open to members of the Connexus Association. According to the credit union's About Us Page:

anyone can join Connexus Credit Union by first becoming a member of our Connexus Association.

I've been told that the Connexus Association requires a one-time $5 donation, and membership into Connexus Credit Union requires a $5 deposit in the savings account.

Credit Union Overview

The credit union is headquartered in Wausau, Wisconsin. Branches are located in Wisconsin, Ohio and New Hampshire. It appears Connexus started out as an employees credit union for Liberty Mutual Insurance. Most of their branches are in Liberty Mutual offices.

Connexus Credit Union's rating for safety and soundness has gone down from 4 stars to 3 stars (performing) at Bankrate.com. It remains 4 stars (excellent) at BauerFinancial. At DepositAccounts.com, Connexus Credit Union has an overall health score of 4 out of 5. These ratings are based on 12/31/09 financial data. The credit union is federally insured by the NCUA (Charter # 66538).

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Update: I'm afraid the special CD rates dropped after my post this morning.

US Bank, N.A. is offering competitive rates on its 3 special CDs. The most competitive one is the 27-month CD which has a 2.25% APY. The other ones include a 1.75% APY 19-month CD and a 3.15% APY 59-month CD. Minimum deposit is $1,000. These rates are listed at the bank's CD specials page as of 5/21/2010.

There's an online application link on the bank's CD specials page, and according to the CSR, people in any state can apply. In fact, to take advantage of these CD specials, I was told you would have to apply either online or by phone, and not in a US Bank branch. After you submit the application, the CSR said that they'll send you a signature card that must be mailed back with a check for the deposit. You have 30 days to fund the CD. However, according to the CSR, the CD rate won't lock until they receive the funds. I was told you can also fund the CD with a free wire transfer. After you submit the application, you should have the account number which can be used for the wire transfer. You can also fund the CD at a branch, but you'll still need the account number and signature card.

One downside with US Bank CDs is a harsh early withdrawal penalty. I had posted on it last year. I wasn't able to find a new disclosure document, but based on what the CSR mentioned, it appears to be the same as what I posted last year:

If your account has an original maturity greater than one year, the penalty will be the greater of either A or B, plus a $25 early withdrawal fee.

A. One-half of the interest that would have been earned on the funds withdrawn if held for the entire term.

B. 3% of the amount withdrawn.

Early withdrawal penalties for long term CDs are typically only 6 months of interest, so this is much worse. This is one reason to choose the shorter terms rather than the 59-month CD.

US Bank START Savings Program

US Bank also a pretty good deal on a savings account program called S.T.A.R.T. Like the savings programs at Bank of America (Keep the Change) and Wachovia (Way2Save), it's not going to make you a lot of money, but you can easily earn $100 in one year without much work or money (my US Bank START review).

Bank Overview

US Bank has branches in many states. It has most of its branches in the states of California, Colorado, Illinois, Iowa, Kentucky, Minnesota, Missouri, Ohio, Washington and Wisconsin.

US Bank's ratings for safety and soundness are about average: 3½ stars (good) at BauerFinancial, 3 stars (performing) at Bankrate.com and an overall health score of 3 out of 5 at DepositAccounts (see our US Bank rates and reviews page). The bank has been a FDIC member since 1934 (FDIC Certificate # 6548). It's a very large bank with $278 billion in assets and $194 billion in deposits.

Comparing with Other Certificates of Deposit

As a comparison, Bankrate's best 2-year nationwide CD rate is currently 2.03% APY, and the best 30-month CD is 2.10% APY. The best 2-year CD rate currently at DepositAccounts.com is 2.53% APY at Broadway Federal Bank. However, after Broadway, there are not many institutions offering 2-year rates above 2.00%.