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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Bank Deals Blog

PenFed Raises 5-Year CD Rate Again
Deal Summary: 5-year Money Market Certificates, 1.30% APY, $1k minimum deposit.

Availability: Easy membership requirement

In July and October, PenFed Credit Union (PenFed) raised the rates on the majority of its Money Market Certificates (MMC) setting them on the road to being competitive. A third set of rates increases occurred this week, with the 5-year MMC offering the most competitive APY. Since July, the 5-year MMC has gained 60 bps. The current 1.30% APY is its highest rate since March 2020. The minimum opening deposit for...

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First Choice Credit Union (FL) Offers Very Competitive 5-Year CD
Deal Summary: 60-month Jumbo CD, 1.51% APY, $75k minimum; 60-month CD, 1.26% APY, $5k minimum; additional 0.25% with active checking.

Availability: Palm Beach County, Florida; federal government employees/retirees (including Armed Forces) in seven South Florida counties; individuals holding a professional license from the State of Florida.

First Choice Credit Union (First Choice) recently raised the rates on its 60-month CD and Jumbo CD. After the addition of 21 bps, the 60-month Jumbo CD now earns 1.51% APY, ($75k minimum), with the 60-month CD earning 1.26% APY ($5k minimum).

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Best Bank Account Interest Rates - Summary For December 7, 2021
Best Bank Account Interest Rates -  Summary For December 7, 2021

Rate changes on savings, money market and checking accounts continue to be rare. The most noteworthy rate change in the last two weeks was a rate cut at Customers Bank. Its Ascent Money Market rate was slashed by 15 bps to 0.35%. This account had remained competitive for some time, but now its rate is significantly below the average rate for online savings accounts.

For November, our Online Savings Account Index, which tracks the average rate of ten well-established online savings accounts, finally had an increase. The Index increased 1 bp...

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Federal Reserve, the Economy and CD Rate Forecast - December 7, 2021
Federal Reserve, the Economy and CD Rate Forecast - December 7, 2021

The last Fed meeting of the year is scheduled for next week (Dec 14-15), and there will likely be some interesting news from the meeting. First, there are growing expectations that the Fed will announce an acceleration of its tapering of asset purchases. This would result in tapering ending early next year, and that would make it easier for the Fed to pull in rate hikes. The meeting will also include an update to the Fed’s Summary of Economic Projections (SEP). New inflation forecasts and federal funds rate forecasts (i.e....

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Consumers Credit Union Adds Three Competitive 16-Month CDs
Deal Summary: 16-month CDs – Super-Jumbo CD, 1.30% APY, $250k minimum; Jumbo CD, 1.20% APY, $100k minimum; CD, 1.10% APY, $250 minimum.

Availability: Easy membership requirement

The long-running, competitive 20-month Super-Jumbo CD, Jumbo CD, and CD offered by Illinois-based Consumers Credit Union (CCU) are no longer available. CCU began the month by adding 16-month Super-Jumbo CD, Jumbo CD, and CD, which have rates 30 bps higher than the now defunct 20-month CDs.

All three 16-month CDs are offered as IRA CDs (Traditional, Roth, CESA,...

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Pen Air Federal Credit Union Raises Rate On 15-Month Add-On CD
Deal Summary: 15-month Add-On CD, 0.60% APY, unlimited deposits, $500 minimum deposit.

Availability: Easy membership requirement or military relationship.

Over the weekend, Pen Air Federal Credit Union (Pen Air) added 5 bps to its 15-month Add-On CD, which now earns 0.60% APY. According to CSR, there are no limitations on the Add-On CD: unlimited additional deposits in any amount can be made at any time throughout the term. The minimum opening deposit is $500, with no stated balance cap.

The Add-On CD is also offered an as...

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Tioga Franklin Savings Bank Expands Market Area To Tri-State Area
Deal Summary: Kasasa Cash, 2.00% APY on qualifying balances up to $25k. Kasasa Saver, 1.00% APY on qualifying balances up to $50k. Money Market Savings, 0.75% APY (up to $25k), 0.25% APY (over $25k).

Availability: Market area includes the tri-state area of Pennsylvania, New Jersey, and Delaware.

I wrote about Tioga Franklin Savings Bank’s (Tioga Franklin) Kasasa brand products last April. At that time, Tioga Franklin’s market area was limited to the greater Philadelphia metropolitan area, but the Bank has recently expanded its market area to...

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Energy One Federal Credit Union Hikes 36-Month CD Rate
Deal Summary: 36-month Share Certificate, 1.25% APY ($100k minimum), 1.15% APY ($500 minimum).

Availability: Employees of more than150 energy-related companies in CA, GA, OK, and TX.

Oklahoma-based Energy One Federal Credit Union (Energy 1) substantially raised the rates on its long-term Share Certificates this week, with the 36-month Share Certificate offering the most competitive APY. After the addition of 50 bps, the 36-month Share Certificate tiered-APYs are now 1.15% APY ($500 minimum) and 1.25% APY ($100k minimum).

This is the first rate increase in nearly 3 years...

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Ardent Credit Union Ups Long-Term CD Rates
Deal Summary: CDs – 60-month (1.50% APY) and 48-month (1.25% APY), $100 minimum deposit.

Availability: Residents of the Pennsylvania counties of Bucks, Chester, Delaware, Montgomery, and Philadelphia.

Ardent Credit Union (Ardent) recently raised the rates on its 48-month CD and 60-month CD to competitive levels. Following significant increases of 35 and 50 bps, the 48-month CD now earns 1.25 APY, with the 60-month CD earning 1.50% APY. The minimum opening deposit is only $100, with no stated balance cap.

Both CDs are offered as IRA CDs (Traditional,...

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NASA Federal Credit Union Raises CD Special Rates
Deal Summary: Share Certificate Specials – 49-month (1.70% APY), 15-month (1.05% APY), 9-month (0.80% APY), minimum $10k deposit of new money.

Availability: Easy membership requirement

For the third time in less than three months, NASA Federal Credit Union (NASA Federal) has raised the rates on it Share Certificate Specials (SCS): 9-month (0.80% APY), 15-month (1.05% APY), and 49-month (1.70% APY). While this week’s increases are modest (5 bps and 10 bps), the 9-month SCS, 15-month SCS, and 49-month SCS have gained 20, 45, and...

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Advancial Raises Short-Term Jumbo Certificate Rates
Deal Summary: Jumbo Certificates, $50k minimum deposit – 6-month (0.96% APY), 1-year (1.11% APY), 18-month (1.29% APY), and 2-year (1.48% APY).

Availability: Residents of the Louisiana parishes of Acadia, Avoyelles, Evangeline, Iberia, Lafayette, St. Landry, St. Martin, and Vermillion; employees of many SEGs; possible easy membership. (See “Availability” section below.)

In the past three months, Texas-based Advancial has increased the rates on most of its Jumbo Certificates, with the longer-terms having the largest gains. Advancial started the new month by raising the rates on its shorter-term Jumbo Certificates,...

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First Community Credit Union (TX) Hikes 5-Year CD Rate
Deal Summary: 5-year CD, 1.55% APY ($100k minimum), 1.50% APY ($500 minimum). and 60-month (1.75% APY).

Availability: Residents of Fort Bend, Harris, and Montgomery Counties, Texas.

First Community Credit Union (First Community) recently added 60 bps to its 5-year CD, which now offers rates of 1.55% APY ($100k minimum deposit) and 1.50% APY ($500 minimum deposit). The current rates are the 5-year CD’s highest APYs in about 18 months.

First Community CDs are also available as IRA CDs (Traditional, Roth, CESA, SEP), earning the same rates...

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.