Bank Deals Blog

Here’s a relatively unfamiliar name for DA readers who follow CD rates and trends: Credit One Bank. As you may be aware, Credit One Bank is best known as a bank and financial services company that specializes in credit cards. For about the past six months, Credit One Bank has been offering a limited Jumbo CD product line. While the rates aren’t outstanding, they are nonetheless competitive. Any of the six Jumbo...

Now through March 31, 2022, United States Senate Federal Credit Union (USSFCU) is offering a bonus up to $200 for new members. As stated on the New Members Bonus page, the $200 bonus is actually three separate bonuses:

All bonuses will be directly deposited into new member’s Primary Savings Account within 60 business days of membership application date.

Senate Checking Account

The Senate Checking account is a non-interest bearing account that has no minimum balance or...

Following this week’s 25 bps increase, American Heritage Federal Credit Union’s (American Heritage) 60-month Share Certificate has the highest rate (1.50% APY) currently offered on nationally available 5-year CDs (minimum opening deposit of less than $100k). The American Heritage 60-month Share Certificate can be opened with a $1k minimum deposit and has no stated balance cap.

The 60-month Share Certificate is also available as an IRA Certificate (Traditional, Roth) earning the same...

Following an increase of 55 bps at the beginning of the year, the 24-month CD (1.00% APY) offered by Bellco Credit Union (Bellco) was a “New to Summary” CD in this week’s CD Rates Summary. Like the majority of Bellco’s CDs, the 24-month CD requires a $500 minimum opening deposit, with no stated balance cap.

The 24-month CD is also available as an IRA CD (Traditional, Roth, and CESA), earning the same...

Now through April 15, 2022, Bank of the West (BotW) is offering a $250 bonus when applying for a new, qualifying consumer checking account (the account must be opened no later than April 29, 2022).

As stated on the bonus landing page, there is only requirement to earn the $250 bonus:

Now through February 16, 2022, Marcus by Goldman Sachs (Marcus) is offering a $100 bonus when depositing $10k or more of new money in a new or existing Online Savings Account. The new funds must be deposited within 10 days of enrollment. At least $10k of the new funds, plus the account balance at the time of enrollment, must be maintained for 90...

Now through February 15, 2022, Florida-based Grow Financial Federal Credit Union (Grow Financial) is offering a $200 bonus to new members in Florida and South Carolina who open a new Grow CashBack Checking account or a new Grow Checkless Checking account. The $200 bonus is not available to current/existing Grow Financial members and there is a limit of one bonus...

As I noted in yesterday’s CD Rates Summary, several CDs offered by North Carolina-based Live Oak Bank are once again featured in the Summary following recent rate increases. While all Live Oak Bank CDs saw increases between 10-25 bps, the 1-year (0.75% APY) and 18-month (0.80% APY) offer the most competitive rates - currently the highest offered by any internet bank on these specific term-lengths. Any Live...

Now through March 31, 2022, SouthState Bank is offering a $200 bonus for opening a new personal checking account (in-branch or online) and completing two of three requirements within 60 calendar days of account opening.

As stated on the bonus promotion page, the “Eligibility & Qualifications” for the $200 bonus are as follows:

Limitations/Restrictions

There is a limit of one $200 checking bonus per customer and...

There weren’t many CD rate changes in the last two weeks. On a positive note, most of the changes were rate hikes.

For well-known online banks, the most noteworthy rate changes were at Live Oak Bank. All of its CDs from 6 months to 60 months had rate gains. Its 6-month CD had the largest rate gain, rising 25 bps to 0.50%. Also noteworthy were the rate gains of its 1-year CD (0.65% → 0.75%) and 18-month CD (0.65% → 0.80%). Its long-term CDs (3-, 4- and 5-year terms) all gained...

Next week the Fed will be holding its first meeting of 2022 (January 25-26), and the expectations are high that the Fed will be setting the stage for rate liftoff at its March 15-16 meeting. There are signs that the Fed is continuing to become more hawkish as high inflation becomes more persistent.

The latest inflation news was on Wednesday with the release of the December CPI. The CPI annual rate for December was 7.0%, the highest since 1982. This also was the third straight month with CPI over 6%. The...

As DA reader, cumulus, noted in a recent Forum post, USALLIANCE Financial (USALLIANCE) recently boosted the rate of its 18-month Certificate Special to 1.05% APY. When the month began, USALLIANCE increased the rate of this Special from 0.75% to 0.95%. Surprisingly, USALLIANCE did another increase to raise the rate to 1.05% APY. The 18-month Certificate Special now offers one of the highest rates offered on a nationally available 18-month CD. The minimum opening deposit...