Bank Deals Blog

In early April, USALLIANCE Financial (USALLIANCE) broke a two-year rates ceiling when it added a 48-month Certificate Special earning 2.00% APY. While I thought there would probably be some rate changes next week, I didn’t expect to see any dramatic rate changes going into the Memorial Holiday weekend; I was wrong.

USALLIANCE has just boosted the 24-month Certificate Special rate to 3.00% APY, more than doubling the previous 1.25% APY. (The...

Now through July 31, 2022, Teachers Federal Credit Union (TFCU) is offering cash bonuses up to $400 for new members who open a new TFCU checking account. According to the promotion page, the offers consists of two bonuses:

As stated in the fine print of the promotion page,

Smart Checking

TFCU’s Smart Checking account is a rewards checking account (RCA) that currently earns 1.00% APY on qualifying balances up to $15k....

Virginia-based ABNB Federal Credit Union (ABNB) recently raised all its Certificates rates, with the 24-month Certificate offer the most competitive rates: 2.30% APY ($100k minimum) and 2.25% APY ($1k minimum).

The 24-month Certificate is also available as an IRA Certificate (Traditional, Roth, CESA), with tiered APYs 5 bps higher than offered on the Certificate.

As stated in the Truth-In-Savings disclosure, the Early Withdrawal...

For the last seven years, I have been writing about the Jumbo CD Specials and CD Specials offered on a regular basis by Iowa-based Veridian Credit Union (Veridian). These limited-time Specials continue to offer very competitive rates that remain in effect for at least a month or two.

The current lineup includes three CDs, with the 18-month...

Maryland-based EagleBank recently raised the rate of its 9-11 month CD to 1.32% APY. The 9-11 month CD allows the customer to choose the maturity from nine to eleven months. The minimum opening deposit is $1k, with no stated balance cap.

Since the beginning of the year, 9-11 month CD added a total 122 bps in three rate increases. The current 1.32% APY is the highest rate the...

For much of this year, Treasury bills and notes had a rate advantage over the top nationally available direct CDs with similar maturities. That has now changed for maturities of one year and above. The top CD yields for maturities of one to five years currently exceed Treasury yields. That’s due to the large rate hikes at Connexus Credit Union. Its CD yields now range from 2.26% for a 1-year term to 3.21% for a 5-year term. At today’s market close, the Treasury Par Yield Curve lists 1-year, 2-year,...

Concerns about high inflation, rising rates and a slowdown in the economy have resulted in a large stock market decline. Due to these factors, the odds that the Fed might announce a 75-bp rate hike at one or more of its summer meetings have fallen considerably. It has also increased the odds that the Fed will transition back to a 25-bp rate hike at its September meeting. The odds that the Fed will go forward with two more 50-bp rate hikes in June and July remain high.

Over the weekend, Chicago-based Alliant Credit Union (Alliant CU) posted across-the-board Share CD and Jumbo Share CD rate increases. As I was reviewing my Forum posts about previous Alliant’s Share CD rate changes, I noticed I used the phrase, “these rate increases are nothing to get excited about” often. That same sentiment applies to the recent 25-55 bps increases: I’m not that excited about them, but I’m...

I’ve been reporting on KeyBank checking account bonuses since 2006. KeyBank has a long history of offering checking account bonuses, many of which get extended several times before new ones are introduced. The latest KeyBank bonus offer is one of these, and it has again been extended. Now through June 17, 2022, KeyBank is offering a...

Last week, Rising Bank, the internet division of Missouri-based Midwest BankCentre, boosted the rate on its 15-month No Penalty (NP) CD from 0.65% APY to an impressive 1.50% APY. The minimum opening deposit is $1k, with no stated balance cap.

When I first wrote about the 15-month NP...

In 2019, DA reader, redwilli1, asked “Has anyone heard of BrioDirect HYS 2.46% APY?”

At that time, BrioDirect, the new online division of Sterling National Bank (now Webster Bank), had unveiled its product line, which consists of the High-Yield Savings and two short-term CDs. While the product line has expanded to include a Money Market account and a total of twelve CDs, the rates have been mediocre following initial good (but not great) APYs.

BrioDirect recently raised the rates on...

California-based UNIFY Financial Credit Union (UNIFY) wants you to “Grow Your Savings” with a new 15-month Share Certificate that earns 2.00% APY. In addition to the competitive rate, the 15-month Share Certificate also offers a one-time penalty-free withdrawal, although there are two conditions: the withdrawal may not exceed 50% of the opening balance and cannot be withdrawn within the first six months after opening. The minimum opening deposit is...