Bank Deals Blog

Iowa-based DuTrac Community Credit Union (DuTrac CCU) is currently offering a 12-month Jumbo Certificate Special, which earns 2.35% APY. The minimum opening deposit is $100k, with no stated balance cap. There’s also a 12-month Certificate Special (2.10% APY) that only requires a $1k minimum deposit.

Both the Certificate Special and the Jumbo Certificate Special are also available as IRAs...

Cy-Fair Federal Credit Union’s (Cy-Fair FCU) 12-month Share Certificate currently offers 2.35% APY ($25k minimum) and 1.95% APY ($2.5k minimum).

With the recent addition of a new 18-month Certificate Special (earning up to 2.90% APY), AmeriCU is continuing to offer competitive rates. The minimum opening deposit is $1k, with no stated balance cap.

Like all AmeriCU’s certificates, the 18-month Certificate Special offers tiered APYs, which are determined using the MemberPlus levels (Core, Flex/Connect, Connect Plus, and Partner). Each level adds approximately five basis points per level.

The Fed decided today to hold rates steady. The target range of the federal funds rate remains at 1.50% to 1.75%. The following is an excerpt of today’s FOMC statement with the all important rate description:

All of the FOMC voting members voted for today’s policy action. Unlike the last four meetings, no one dissented.

Summary of Economic Projections

In addition to the statement, the Fed released an updated summary of economic projections (SEP). In the first table of this summary, you can see the Fed’s economic projections for future years and...

As I doing research for this blog post, I was surprised to discover it’s been more than year since I last wrote about Veridian Credit Union (Veridian). The occasion for this blog post is the recent addition of two Jumbo CD Specials – 12-month (2.20% APY) and 21-month (2.25% APY). The minimum opening deposit is $100k,...

In the past, I’ve written a couple “good news Monday” blog posts about Navy Federal Credit Union (Navy Fed). The latest good news Monday offering is a 37-month IRA/ESA Certificate Special, earning 3.00% APY. This limited-time Special can be opened with as little at $50 and is capped at $150k. Additional deposits are allowed throughout the term, subject to the $150k...

Rate cuts on the top savings and money market accounts are still widespread. However, the number of rate cuts has gone down from two weeks ago. If the Fed holds rates steady tomorrow, the number of rate cuts should keep trending down, and within a month or two, the widespread cuts should come to an end.

Below are the noteworthy savings and money market account rate changes that have occurred in the last two weeks (All percentages are APYs):

• FitnessBank Savings (-30 bps to 2.30%)
• SFGI Direct Savings (-20 bps to 2.07%)
• TotalDirectBank...

The Fed’s two-day meeting started today. The meeting announcement is scheduled for 2:00 PM ET Wednesday. Along with the announcement, the Fed will be releasing its quarterly Summary of Economic Projections (SEP), which includes the “dot plot” that shows FOMC participants’ expectations of the future federal funds target rate. Following these releases, a press briefing by Fed Chair Jerome Powell will take place. It appears very likely that the Fed will hold rates steady.

The November jobs report that was released last Friday was much stronger than what analysts had predicted....

For a limited time, TEG Federal Credit Union (TEG FCU) is offering 2.40% APY on three short-term CD Specials, giving members “savings like snow other.” The minimum opening deposit is $500 of new money, with no stated balance cap.

Earned dividends can either be reinvested or deposited into a share account.

As stated in the Truth-in-Savings document,...

At the end of last week, Utah-based Merrick Bank added 15 bps to its 24-month CD, increasing the APY to 2.25% APY. While not an outstanding rate, it is significant because it's the first nationally available CD rate increase in several weeks. The minimum opening deposit for any Merrick Bank CD is $25k, with a $250k balance cap. Any interest accrued...

For just over a year, New York-based Quontic Bank’s Personal Money Market rates have been very competitive. Rates started to fall in September, but the cuts have been smaller than most online savings and money market accounts. The Personal Money Market account is currently offering 2.20% APY on balances of $100k+. The other tiered APYs include 2.10% ($5k-$100k) and 1.85% (up to $5k).

Community First Bank of Indiana (CFB) began the month by adding two new CD Specials to the product line and raising the rates on four existing CD Specials. Of the six CD Specials, the new 25-month has the most competitive rate – 2.50% APY.

The 13-, 23-, 33-, and 59-month...