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.
POSTED ON THURSDAY, APRIL 27, 2017 BY CHARLES RECHLIN
There have been some pretty attractive credit union deals of late, including some offered by “easy membership requirement” (aka/“all-access”) credit unions on a nationwide basis. I have a problem with many of these deals, however: it’s that I don’t already belong to the credit unions involved, and have placed a moratorium on joining any more.
Where I Am Today—and How I Got There
Currently, I’m a member of 17 NCUA-insured credit unions. Approximately 47% of the value of my non-IRA portfolio is represented by CD accounts at those institutions....
Deal Summary: Reward Checking Account called Premier Checking, 3.00% APY up to $20k.
Availability: Individuals who live, work, worship, or attend school in the Texas counties of Brazoria, Galveston, or Harris, or within ten miles of the Brenham branch location.
Associated Credit Union of Texas’ (ACU of Texas) Premier Checking currently earns 3.00% APY on qualifying balances up to $20k. Qualifying balances of $20k+ earn 0.05% APY, as do non-qualifying balances.
Premier Checking Monthly Qualifying Requirements
At least 10 signature-based debit card transactions.
Availability: 18-month CD Special, 1.65% APY, $1k minimum deposit, new money required.
Availability: Market area includes Onondaga and Oswego Counties, New York.
Earlier this month, PathFinder Bank added an 18-month CD Special (1.65% APY). The minimum deposit is $1k of new money, with no stated balance cap.
According to CSR, the Early Withdrawal Penalty for the 18-month CD Special is six months interest. CSR also stated that partial withdrawals are not permitted and a withdrawal will result in the closure of the CD.
Deal Summary: Online Savings Account, 1.01% APY, No minimum balance
Availability: Internet Bank
Today Discover Bank increased the rate of its Savings Account from 0.95% to 1.01% APY. While this isn’t an exceptional rate for an online savings account, it’s another sign that banks are slowly starting to respond to the Fed rate hikes. Discover Bank is one of the big internet banks, and it’s always nice to see rate hikes at these banks.
The 1.01% APY applies to all balances. In March, Discover Bank removed the $500 minimum deposit...
Deal Summary: $200 checking bonus when opening a new Premium Checking or OneAccount, available through May 31, 2017.
Availability: Market area is southern California.
Now through May 31, 2017, OneWest Bank is offering a $200 bonus when opening a new Premium Checking or new OneAccount Checking account. The bonus is available as eight different Reward Options, one of which is a $200 VISA prepaid card.
$200 Bonus Requirements
Open a new Premium Checking ($1k minimum deposit) or OneWest Checking ($50k minimum deposit) account.
Next week there will be another Fed meeting, but it should be uneventful. There’s no press conference after the meeting (which is scheduled to end on May 3), and no one is expecting a rate hike. The June Fed meeting is a different story. The odds of a rate hike at that meeting (scheduled for June 13-14) have increased since last week. According to this Reuters article:
The Fed will probably be in a wait-and-see mode regarding fiscal stimulus. For the short term, economic news will be a more important driver...
Deal Summary: $150 Checking Bonus; 27-month Premier CD Special, 1.75% APY, $10k minimum, checking relationship required.
Availability: Market area includes portions of Maryland and Northern Virginia.
At the end of February, the $150 checking bonus being offered by Sandy Spring Bank expired. The Bank is again offering a $150 bonus (available through May 31, 2017), but this time a Direct Deposit is required, with no debit card purchase transactions required.
Open a new checking account online, in-branch, or by phone.