Bank Deals Blog

Last month, Harborstone Credit Union (Harborstone) added a 15-month CD Special, earning 2.53% APY. The minimum opening deposit is $5k of new money, which is simply defined as “money not currently on deposit with Harborstone.”

As stated in the Consumer Rate and Fee Schedule the Early Withdrawal Penalty reads as follows:

Amount of penalty is 90 days of dividends for any...

The FDIC and NCUA recently released their reports of the second quarter health of the institutions they insure. They also released the 2019 Second Quarter Call Reports of all insured institutions. We use these reports to derive our financial health grades for each institution. We have finished importing this data, and all of the health grades for banks and credit unions have been updated to reflect the June 30, 2019 reports.

You can view the latest health ratings of your bank or credit union in our Bank Health...

GiftsforBanking.com’s (GfB) 3- and 5-year CD Gifts are another two NTS (New To Summary) CDs that were added to this week’s CD Rates Summary. The 3-year’s 2.50% APY has been in effect since late March, while the 5-year has been offering a 2.75% APY for nearly a year. The minimum opening deposit is $25k, with no stated balance cap.

First Security Bank & Trust’s (First Security) Kasasa Cash account earns 2.51% APY on qualifying balances up to $50k. Qualifying balances greater than $50k earn 0.20% APY, with non-qualifying balances earning 0.05% APY.

The Kasasa Cash account was unveiled more than four years ago, with a decidedly low 1.05% APY. The rate was increased to 2.51% APY in August 2018. The Kasasa Cash account is First Security’s...

Capital One’s 18-month 360 CD is another NTS (New to Summary) addition to this week’s CD Rates Summary. Currently earning 2.55% 1.90 APY, the 18-month 360 CD is listed in the Summary’s top four nationally available 18-month CDs.

Capital One 360 CDs have no minimum opening deposit requirement, “however, your Certificate of Deposit account may not exceed $1,000,000.”...

Last week, Western Vista Federal Credit Union (Western Vista) unveiled three CD Specials: 29-month (3.00% APY), 17-month (2.50% APY), and 11-month (1.80% APY). Of the three, the 29-month is the most competitive. The minimum opening deposit is $500, with no stated balance cap.

According to CSR, only an early closure of a CD is allowed, with an Early Withdrawal...

You may have noticed a new abbreviation in yesterday’s CD Rates Summary: NTS (New to Summary). A CD marked with NTS has become competitive not through a rate increase, but by maintaining an APY during the recent reshuffling of rates. Merrick Bank’s 18-month CD (2.56% APY) is one such CD. Added to the product line about a month ago, the 18-month CD’s rate has held steady and is currently the highest APY...

CD rate cuts have continued. The big online banks have been steadily cutting their CD rates. A couple of credit unions have come out with noteworthy CD specials, but the best ones don’t last long. An example was the 3% 18-month CD special at AgFed Credit Union. That special lasted less than a week. AgFed’s 18-month CD rate is now down to 2.20% APY.

The interest rate environment slightly improved last week with Treasury yields gaining and the odds of future Fed rate cuts falling a bit. If the Fed follows...

The mixed jobs report that was released Friday will probably not have much effect on what the Fed decides at its meeting next week (Sep 17-18). The number of jobs added in August was below analysts’ expectations, but as this Barron’s article describes, the jobs report wasn’t all negative. Besides the disappointment in the jobs number, “other labor-market indicators suggest conditions for American workers are solid.” As economist Tim Duy described in his recent Fed Watch blog post, the “employment report for August 2019 revealed a slowing albeit arguably solid...

BCS Community Credit Union (BCSCU) 15-month Special CD currently earns 2.65% APY. While the rate has been in effect for about ten months, CSR stated there was no indication that the rate would be lowered anytime soon. The minimum opening deposit is $500, with no stated balance cap.

The Special CD is also available as an IRA (Traditional, Roth, CESA, SEP), earning the same APY...

At the end of last week, USALLIANCE Financial (USALLIANCE) raised the rates on two of its Certificate Specials: 9-month (2.50% APY) and 15-month (2.70% APY). The APYs were dramatically increased, with the 9-month adding 225 bps and the 15-month gaining 119 bps. The minimum opening deposit for either is $500, with no stated balance cap.

The last time USALLIANCE had a competitive CD...

Now through September 30, 2019, Leominster Credit Union (LCU) is offering a 9-month Term Share CD Special earning 2.40% APY. At the beginning of the month, LCU raised the rate on the 9-month CD Special, while lowering the rates on the 36-, 48-, and 60-month Term Share CDs. This has resulted in a rather unusual rate structure, with all...