Bank Deals Blog

For the past few years, I looked forward to October because there was usually a “spook-tacular” rate to write about. While ANECA Federal Credit Union’s (ANECA) 30-month Share Certificate Special doesn’t have a “spook-tacular” rate, it nonetheless is one of the few new CDs offering a very competitive rate. Earning 1.25% APY, the 30-month Share Certificate Special can be opened with a $1k minimum deposit; there is no stated balance...

DA has been tracking the Tensas State Bank (TSB) Kasasa brand products for about a year. The Kasasa Cash Checking's initial 3.05% APY on qualifying balances up to $10k is still in effect. Qualifying balances over $10k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

For some unknown reason, the Kasasa Cash...

A year ago, Security Bank of Crawford (Security Bank) was one of the few Texas-based banks that offered Kasasa brand products statewide. That ended two months ago when Security Bank stopped offering the Kasasa Cash and Kasasa Saver accounts and added a Rewards Checking account that’s only available locally. The Rewards Checking currently earns 3.00% APY on qualifying balances up to $15k (just like the Kasasa Cash...

Following my July 2020 blog post about the 60-month CD offered by Christian Financial Credit Union (CFCU), the long-term CD lost 65 bps in eight months. CFCU improved the 60-month CD rate earlier this month by adding 15 bps. Currently earning 1.25% APY, the 60-month CD can be opened with a minimum $1k deposit; there is no stated balance...

Last month, I wrote about Oklahoma’s Credit Union’s (OKCU) promotional 24-month Jumbo CD (1.05% APY, $100k minimum), which is still being offered. OKCU has added another promotional rate certificate: an 18-month CD Special earning 0.95% APY. Unlike the 24-month Jumbo CD (which is the only Jumbo CD in the OKCU product line), 18-month CD Special can be opened with a $500...

There weren’t many CD rate changes in the last two weeks. No major online bank had any CD rate changes. For the less-well known online banks and easy-membership credit unions, about half of the noteworthy rate changes were rate hikes.

The two most noteworthy of the CD rate changes were rate hikes at the credit unions PenFed and Veridian.

On October 8th, PenFed increased three of its long-term CD rates. Its 7-year CD had the largest rate gain, rising 40 bps to 1.50% APY. The 5-year and 3-year CD rates went...

Last week’s release of the September Consumer Price Index (CPI) report showed that inflation is continuing to run hot. CPI for September increased to 5.4% on an annual basis, which was above expectations for a 5.3% increase. Core CPI, which excludes food and energy, increased 4.0% on an annual basis, mostly inline with expectations. These inflation numbers are at 30-year highs, and they reinforce the likelihood that high inflation will persist into 2022.

One component of stagflation is high inflation. Another component is high unemployment. The news last week on retail...

Now through October 30, 2021 Connex Credit Union (Connex) is offering a...

WCCU Credit Union’s (WCCU) rewards checking account, Awards Checking, has been part of the product line for more than eleven years. Awards Checking currently earns 2.50% APY on qualifying balances up to $20k. Qualifying balances greater than $20k earn 0.25% APY, with non-qualifying balances earning 0.10% APY.

The 2.50% APY has been in effect for nearly a year. Since DA began tracking the Awards Checking, there have been seven rate...

In today’s world of low rates and high inflation, CDs have little appeal. Unfortunately, there aren’t many alternatives today for your “safe” money. In this type of environment, it can seem to make more sense to keep all of your “safe” money in liquid bank accounts while you wait for rates to rise. The problem is that it may be a longer wait than...

For the past several years, Fifth Third Bank has regularly offered a bonus for opening a new checking account. The last time I wrote about this promotion in 2017, the bonus was $200 – it’s now $300 and available now through the end...