Utah Banking Rates and News

In the last year Security Service Federal Credit Union (SSFCU) has entered the Utah market from its acquisition of Beehive Credit Union and Family First FCU, both of which were liquidated by the NCUA. SSFCU is now trying to attract new Utah members with a nice checking account promotion. New members can earn $150 by opening a Classic Checking account with direct deposit and paperless statements by January 15, 2012. This offer was advertised in the Daily Herald newspaper on 12/31/2011. The ad is available online here.

Utah Only

According to the offer's small print (which is hard...

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...

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...

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...

Security Service Federal Credit Union continues to offer several competitive CD and IRA CD rates. Its 18-month CD rate has fallen since my February post, but it has remained competitive. The following is a few of the top CD rates as listed in the credit union's rate sheet as of 4/21/2011:

• 3.50% APY 7-year CD, $100K min
• 3.00% APY 5-year CD, $100K min
• 2.20% APY 3-year CD, $100K min
• 1.50% APY 18-month CD, $100K min

Rates are slightly lower for smaller deposits. For a $500 minimum deposit, the rates are 15 basis points lower than the rates listed above. These rates...

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...

Granite Credit Union is offering two top long-term CD rates: a 2.77% APY 5-year CD and 3.03% APY 7-year CD. Minimum deposit is $1,000. The rates go down considerably for shorter terms. The CD rates for terms of 2-years and under are not competitive. Minimum deposit is $1,000. These rates are listed in the credit union's CD rates page as of 1/20/2011.

As compared to internet banks on 1/20/2011, the best 5-year CD rate is 2.75% APY at Salem Five and the best 7-year CD rate is 2.70% APY at Discover Bank. For...

Delta Community Credit Union lowered its CD rates in November, but a few of the CDs remain competitive. The best one is currently their 5-year CD which has a 2.65% APY. Also fairly competitive is the 2.00% APY 3-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 11/09/2010.

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...

HeritageWest Credit Union continues to offer a good deal on its 5-year CD and IRA CD. The rates have fallen a little since my August review, but they remain very competitive. The yield is 3.00% APY for a minimum of $500 and 3.15% APY for a minimum of $100,000. The rates for the shorter terms are much lower and not noteworthy. These yields are listed in the credit union's certificate rates page as of 11/05/2010.

As a comparison to internet banks, the best 5-year CD rate is 2.65% APY at First Internet...