Oregon Banking Rates and News

Union Bank has a checking account promotion in which you can earn 5% cash back from your debit card purchases for up to $250. To earn the full $250, it will require $5,000 in debit card purchases through April 30, 2012. Also, customers should be aware that Union Bank ended its free checking accounts in January. So they'll have to be careful to avoid monthly fees.

The details of this offer are listed at this Union Bank promotions page. Here's the summary that's listed on this promotions page:

• open a new personal or business checking account...

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...

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...

KeyBank is again offering an iPod touch as part of a checking account promotion. One thing that has changed since the last one is that you have to make twice the number of payments and/or purchases. So if you want the free iPod touch, it will require some work. 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).

Here's the new KeyBank promotions page. The offer is scheduled to last until July 22, 2011. The following are the requirements...

Umpqua Bank is currently offering two competitive CD rates. One is a 5-year CD with a 2.52% APY. The other is a special 8-month CD with a 1.06% APY. Minimum deposit is $1,000, and the special CD requires a checking account. The 5-year CD rate may vary by state. It's not listed on bank's website so I called on 6/22/2011, and confirmed the 5-year CD rate for California and Oregon. Rates are subject to change at anytime.

You may be able to get an additional 0.25% on the CD with the Benefit Banking Interest Checking Account. This is...

Update 11/16/2011: The offer has been extended. However, based on the comment below, you may first want to call Key to ensure your application will qualify for the bonus.

KeyBank has checking promotion in which you can earn $150. It's very similar to KeyBank's iPod touch checking promotion that I mentioned last month. It should appeal to those who don't want an iPod touch or who just prefer a cash bonus in which you don't have to worry about the gift value that the bank reports to the IRS. Like before it's an online-only offer, but...

KeyBank has a new checking account promotion with an iPod touch bonus. It's similar to what they were offering last year, but this one requires more work. It's an online-only offer, but the online application only accepts certain areas which appear to be in their market area (see below).

Here's the KeyBank promotions page. The offer is scheduled to last until June 24, 2011. The following are the requirements to qualify for the iPod touch:

• open a qualifying KeyBank checking account online and enter offer code ONTT0311 by June 24, 2011
• make at least 10 payments...

Every now and then Doral Bank Direct offers competitive CD rates. Its latest deal is a 1-year CD with a 1.40% APY. Minimum deposit is $1,000. This is the only rate that's competitive. All the other CD rates are low. These rates are listed in the bank's CD page as of 3/29/2011.

My last report on this bank was about a year ago when they were offering a 1-year CD special. One odd thing is their requirement to close out a CD. You have to send them the original Certificate that was sent...

Update 4/3/2011: The bonus has been extended to 4/22/2011.

Bank of the West has another $100 checking account bonus. This new bonus is scheduled to last until 3/25/2011, and like the promotion from last July it allows either direct deposit of at least $250 or 10 online bill payments. One difference is that this new one requires that each bill payment be at least $25. The direct deposit or bill payment most be completed within 60 days of account opening.

Update 2/14/11: The promotion is now listed on Bank of the West's website. Here's the promotion link.

As...

HomeStreet Bank is again offering a checking account promotion and it has gotten better since I reviewed it last year. The bonus amounts have gone up. Details are listed in the bank's promotion page as of 1/13/2011. I don't see any expiration date, but based on its history, the promo comes and goes. The following activities are required to receive the full $300:

• $100 for direct deposits of payroll, pension, social security or other income to your account
• $80 for using your new Visa Check card ($2 per purchase up to $80)
• $75 for using free Online Bill Pay...

Union Bank has a checking account promotion in which you can earn 3% cash back on eligible debit card purchases. Here are the basic requirements:

• Open a new consumer checking account with a $100 minimum by 1/31/2011
• Maximum cash back is $500
• Debit card purchases must be made by 4/30/2011

The promotion is listed at unionbank.com/rewardthree. The offer's small print describes what counts as eligible purchases:

Purchases returned do not qualify. The following count as "eligible debit card purchases:" purchases you sign for, PayPass™ tap purchases, purchases made on the Internet, by phone, or by mail-order, and small-dollar purchases that do...