About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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Wright-Patt Credit Union's (OH) 15-Month CD Earns Up To 2.10% APY

UPDATE 11/24/2017: Both rate tiers increased by 13 bps.

UPDATE 11/10/2017: Rate tiers increased by 9 bps ($100k) and 10 bps ($500).

Deal Summary: 15-month Share Certificate Exclusive, 2.10% APY ($100k), 2.00% APY ($500).

Availability: Residents of 19 central Ohio counties; 1,200+ SEGs; military relationship.

Wright-Patt Credit Union (WPCU) is giving its members another reason to be thankful: the 15-month Share Certificate Exclusive (available now through December 6, 2017) is now earning 2.10% APY ($100k) and 2.00% APY ($500).

In the past seven weeks, there have been...

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Michigan Schools & Govt Credit Union's 18-Month CD Now At 1.85% APY
Deal Summary: 18-month CD, 1.85% APY, $500 minimum deposit.

Availability: Residents of Michigan’s Lower Peninsula.

Who says you have to go to the mall to get a good deal on Black Friday? Michigan Schools and Government Credit Union (MSGCU) began the Thanksgiving holiday by raising the rate on its 18-month CD (1.85% APY). The minimum opening deposit is $500, with no stated balance cap.

The 18-month CD is also being offered as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

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Happy Thanksgiving!
Happy Thanksgiving!

I want to wish everyone a Happy Thanksgiving. May you enjoy today with your family and friends full of joy and peace. Thanks for all of your support this year.

It’s sort of my blog tradition for Thanksgiving to look back at some of the bank deals this year that we can be thankful for.

First, I think we all can be thankful that rates are finally going up. For several years, it seemed like we would never see higher rates again. They may not be going up as fast as we...

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GS Bank Being Rebranded To Marcus by Goldman Sachs

GS Bank will soon be renamed to Marcus by Goldman Sachs. Goldman Sachs has recently been announcing this change to the media and to customers. The bank will remain the same, still an FDIC member known as Goldman Sachs Bank USA, but the brand name will be Marcus by Goldman Sachs instead of GS Bank.

The name Marcus by Goldman Sachs may not be familiar to savers. GS Bank launched Marcus by Goldman in October 2016 as an online platform offering personal loans. Since that time, Goldman Sachs has been pleased...

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My eBanc Boosts 12-Month Jumbo Online Time Deposit (1.77% APY)
Deal Summary: 12-months Jumbo Online Time Deposit, 1.77% APY, $100k minimum deposit. 12-months Online Time Deposit, 1.70% APY, $1.5k minimum deposit.

Availability: Internet bank

My eBanc made its presence known in the rate race to the top yesterday, when it upped the rate on its 12-months Jumbo Online Time Deposit to 1.77% APY. The minimum opening deposit is $100k, with no stated balance cap.

Debuting in late 2013 with a modest 1.06% APY, the 12-months Jumbo Online Time Deposit has had nine rate increases in the...

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MountainOne Bank (MA) Has Limited Time 8-Month CD Special (1.50% APY)
Deal Summary: 8-month CD Special, 1.50% APY, $10k minimum deposit, $250k limit per customer, in-branch only.

Availability: Massachusetts residents

For a limited time, MountainOne Bank (MountainOne) is offering an 8-month CD Special (1.50% APY). The minimum opening deposit is $10k, and while there is no stated balance cap, there is a total deposit limit of $250k per customer.

Although “premium CD rates may be available to customers with an active VISTA checking relationship,” this option does not apply to the 8-month CD Special.

According to CSR, the Early...

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CD Rates Summary November 21, 2017
CD Rates Summary November 21, 2017

Fed Chair Janet Yellen announced on Monday that she will resign as a member of the Board of Governors effective when her Fed Chair term ends in February. Even though President Trump chose not to keep Yellen as Fed Chair for another term starting next February (instead nominating current Fed Governor Jerome Powell as Fed Chair), Yellen could have chosen to remain a Fed Governor until 2024. With the loss of Yellen, President Trump now has four Fed Governors to appoint. Based on President Trump’s decision to replace Yellen with...

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New Top Savings Account Rate at IncredibleBank - 1.55% APY for $25k+
Deal Summary: IncredibleBank Savings, 1.55% APY ($25k+), 1.21% APY (under $25k)

Availability: Nationwide, internet only

IncredibleBank, the internet division of River Valley Bank (Wisconsin), increased the top-tier rate of its High Yield Savings account to 1.55% APY. This top-tier rate now applies to balances of $25k and above. This is a big improvement to what IncredibleBank introduced in early October when the top-tier rate of 1.41% APY required a minimum balance of $250k. The rate for smaller balances remains the same (1.21% APY for balances under $25k).

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Union Bank and Trust (NE/KS) Ups Long-Term CD Special Rates
Deal Summary: CD Specials: 48-month, 2.57% APY ($25k+), 2.47% APY ($1k+); 60-month, 2.73% APY ($25k+), 2.63% APY ($1k+).

Availability: Residents of Nebraska and Kansas.

At the end of last week, Union Bank & Trust (UBT) raised the rate on two of its long-term CD Specials: 48-month, 2.57% APY ($25k+) and 60-month, 2.73% APY ($25k+). These tiered-rate CDs also offer APYs 10bps lower for opening deposits of $1k+.

Both CDs have been available for more than six years, with rates that could be described as...

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Colorado Federal Savings Bank's Premier Savings Earns 1.45% APY
Deal Summary: Premier Savings, 1.45% APY, $50k minimum deposit, new customers only

Availability: Nationwide (internet bank)

About three months ago, Colorado Federal Savings Bank (CFSB) unveiled its Premier Savings, which intially earned a rather pedestrian 0.90% APY on balances of $50k+. Over the weekend, CFSB boosted that rate to an eye-catching 1.45% APY. The Premier Savings account is only available to new CFSB customers, who are defined as “a customer who has not maintained a CD or savings account with the bank in the prior 60...

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Mountain America Hikes 5-Year Term Deposit To 2.80% APY
Deal Summary: 5-year Term Deposit, 2.80% APY, $500 minimum deposit. 5-year Term Deposit Plus, 2.80% APY, $5 min/$100k max, minimum $10 automatic monthly deposit.

Availability: Easy membership requirement

As DA reader, cumulus, noted in a recent Forum post, Utah-based Mountain America Credit Union (MACU) has raised the rate on its 5-year Term Deposit to 2.80% APY. The minimum deposit is $500, with no stated balance cap.

The Term Deposits are also available as IRAs, earning the same APYs with the same funding requirements.

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How to Avoid Getting Duped in a Ponzi Scheme
How to Avoid Getting Duped in a Ponzi Scheme

Nearly a decade after Bernard L. Madoff made off with some $64 billion of investors’ money in one of the biggest Ponzi schemes in U.S. history, people are still falling for scams and losing the savings they worked a lifetime to build.

You’ve heard the term Ponzi scheme, but maybe you don’t know exactly what it is and how it works. Basically, it’s an investment fraud that pays existing investors with funds collected from new investors. There’s usually the “guarantee” of high returns with little or no risk. In...

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