Bank Deals Blog

Maryland-based Andrews Federal Credit Union (Andrews Federal) is now offering Kasasa brand products. The Kasasa Cash Checking is a high-yield reward checking account that earns 6.00% APY on qualifying balances up to $25k; qualifying balances above $25k earn 0.50% APY, with non-qualifying balances earning 0.05% APY.

it’s nice to see another reward checking account (RCA) with a 6%...

Slightly more than a year ago, Maryland-based Lafayette Federal Credit Union (Lafayette Federal) unveiled a Jumbo CD product line, consisting of five certificates. While none of the Jumbo CDs have offered wow-worthy rates, the APYs have consistently been very good. The 3-year Jumbo CD currently offers a 5.20% APY, which is the most competitive rate in Lafayette Federal CD product line. The Jumbo CDs require a minimum $100k opening deposit,...

With cooling inflation numbers, the odds have fallen to near zero for any additional Fed rate hikes, while the odds of Fed rate cuts in 2024 have risen. According to the Fed Funds futures (via the CME FedWatch Tool), the odds are over 60% for a rate cut by the Fed’s March 19-20 meeting.

These falling rate expectations have impacted Treasury yields. Since October, long-term Treasury yields have fallen. The yields of the 10-year and 5-year notes have fallen from 4.98% and 4.95% on October 19th to 4.18% and 4.14%...

Alabama-based All In Credit Union (All In) recently increased the rate on its 18-month Jumbo CD and 18-month CD to 5.80% APY and 5.69% APY, respectively. The Jumbo...

New Orleans-based Crescent Bank upped its Online CDs rates in late November. As these were modest increases (5-15 bps), I didn’t expect the Crescent Bank CDs’ overall standing to improve that much, but the 24-month Online CD (5.40% APY) proved me wrong. (Look for the 24-month Online CD in this week's CD Deals Summary.) The minimum opening deposit is $1k of new money, which is defined as funds...

Tennessee Valley Federal Credit Union (TVFCU) has been offering a “uni-rate” on its CDs for about nine months. The current uni-rate is 5.09% APY, with the 60-month CD being the most competitive CD in the TVFCU product line. The minimum opening deposit is $1k, with no stated balance cap.

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

The Education First Credit Union (Education First) product line includes two CD Specials: 30-month (5.25% APY) and 14-month (5.00% APY). Of the two, the 30-month CD Special offers the more competitive rate. The minimum opening deposit is $500, with no stated balance cap. As noted in the CD Specials landing page, these are a "Limited time offer. Available for new and existing money."

Excess Share...

It has been more than five years since I’ve written about any product offered by Staten Island-based Northfield Bank. Since that time, Northfield Bank has expanded its online market area, with the 11-month Online CD (5.65% APY) now available nationwide. The minimum opening deposit is $2.5k of new money, which is defined simply as “funds not currently on deposit at Northfield Bank.”...

For a limited time, Community Credit Union (CCU) is offering a 13-month CD Special earning 5.75% APY. The minimum opening deposit is $1k, with no stated balance cap. According to CSR, no end-date has been announced for the 13-month CD Special.

The 13-month CD Special is also available as an IRA CD Special (Traditional and Roth), earning the same APY with...

Wisconsin-based Superior Choice Credit Union (SCCU) has unveiled its new reward checking account, Superior Checking, which earns 7.00% APY on qualifying balances between $5k and $25k. The minimum opening deposit is only $100, but any balance of less than $5k earns no interest.

The other rate tiers (as described on the landing page) are not that impressive.

In addition to maintaining a minimum daily average balance of $5k...

For a limited time, Alabama-based Family Savings Credit Union (Family Savings) is offering a rate-leading 18-month CD Special. Earning 5.80% APY, the 18-month CD Special can be opened with a $500 minimum deposit.

The 18-month CD Special is also available as an IRA CD Special (Traditional, Roth), earning the same APY with the same deposit requirements.

Early Withdrawal Penalty

As stated in the Fee Schedule, the Early Withdrawal Penalty reads...