Vermont Banking Rates and News

North Country Credit Union is currently offering the best long-term CD rates in Vermont. The three best are the 2.80% APY 5-year CD, 2.50% APY 4-year CD and the 1.80% APY 3-year CD. The 5-year and 3-year IRA CDs are even better deals with a 3.05% APY and 2.25% APY. Minimum deposit is $500. These rates are listed at the credit union's rates page as of 11/07/2011.

Credit union membership is open to anyone who lives works, studies or worships in northern Vermont (Addison, Caledonia, Chittenden, Essex, Franklin, Grand Isle, Lamoille, Orange, Orleans and Washington...

EBSB Direct is offering a competitive 3-year CD yield of 1.80% APY. Minimum deposit is $1,000. This used to a better deal back in June when the yield was 2.25%, but it's still quite competitive compared to what's available today. There's also a 10-month CD, but the rate is much less competitive at 0.55% APY. Minimum deposit is $1,000. These rates are listed at EBSBdirect.com as of 10/04/2011.

According to the bank's disclosure, "terms over 12 months the penalty will equal 6 months interest on the amount withdrawn."

EBSBdirect.com also offers an online savings...

People's United Bank is offering a $100 gas card when you open any personal checking account and perform certain activities. The account must be opened with a minimum of $25 by 10/31/2011. They give you three choices of activities which must be completed within 60 days of account opening. You can choose any one of the following to qualify for the bonus:

• Receive a recurring direct deposit of at least $100
• Use the debit card to make at least 10 purchases of at least $25 each
• Make at least 5 payments of at least $25 each using Online Banking

The promotion is listed...

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...

Citizens Bank has another checking account promotion, and unlike the last one, it's a little easier to qualify for the bonus. In this new one, a new personal checking account must be opened by June 30, 2011. Once you open the account, make 5 qualifying online bill payments of at least $50 each before July 29, 2011. The bonus amount is $100. The promotion is listed at www.citizensbank.com/100cash1. It's also available at Citizen's subsidiary, Charter One (www.charterone.com/100cash1). Here's the small print of the offer:

To qualify for this offer you must open your...

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...

Vermont Federal Credit Union has two CD specials with very competitive rates: a 3.10% APY for a 5-year term and a 2.55% APY for a 4-year term. Minimum deposit is $500. The IRA versions of these have rates 10 basis points higher. These are limited time specials. The rates are listed at the credit union's deposit rates page as of 6/03/2011. According to the account disclosure the early withdrawal penalty for terms over two years is up to six months of interest on the amount withdrawn.

The credit union also has a...

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...

Northfield Savings Bank is offering two CD specials. The most competitive one is the 5-year CD which has a 3.00% APY. The other one is a 15-month CD with a 1.15% APY. Minimum deposit is $1,000. These rates are listed in the bank's CD rates page as of 4/19/2011.

Thanks to the reader who emailed me news of this special. He noted one interesting thing about the early withdrawal penalties:

Interestingly, although their early withdrawal penalty is usually 6 months for terms of 12 months or longer, the 15 month deal is subject to special conditions,...

Update: Promotion is back. New expiration date is 10/28/2011. Small print now says "offer available in branch and by phone and excludes select Philadelphia area branches."

Citizens Bank has a checking account promotion in which you can earn $240. It does require some work and it'll take at least 6 months. The offer is listed on the bank's front page, and they have a special page at www.citizensbank.com/240. The new personal checking account must be opened by May 6, 2011. Once you open the account, you'll be paid $40 a month for up to 6...

EBSB Direct continues to offer a good deal on its high yield savings account for those with large balances. The savings account has a 1.30% APY on balances of $50K to $1M as of 4/10/2011. For balances of $5K to $50K, the rate goes down to 0.75% APY, and for balances under $5K, no interest is paid.

This rate has held since I reviewed EBSB Direct in December. Back at that time, a 1.30% APY was good but there were several banks offering higher rates. That's not the case any more as you can see in my

People's United Bank is offering a free Amazon Kindle for opening its Advantage Checking Account with direct deposit by 3/18/2011. The important downside to this promo is that Advantage Checking has a $20 monthly fee unless you maintain a combined average balance of $5,000. The promo is listed on the bank's front page. Here's the offer's small print (with my highlights):

This offer applies when you open a new People's United Advantage Checking Account (the "Account") between 2/8/11 and 3/18/11 with a $25 minimum opening deposit and a recurring direct deposit. To qualify for the Kindle, you...