Bank Deals Blog

California Coast Credit Union (Cal Coast) is celebrating its 90 years of service. As part of its year-long Anniversary Celebration, Cal Coast is offering a 5-month Celebration Certificate, which earns an eye-catching 9.00% APY.

There is a limit of one Celebration Certificate per member, excluding business and IRA accounts. New money is required, with a minimum opening deposit of $500. Maximum opening deposit is $3k. CSR confirmed that funding the Celebration...

Ally Bank is again offering a Select CD which features a limited-time promotional rate and term (2.80% APY 15-month). This is a small downgrade from Ally’s last Select CD that ended in February (2.85%, 14-month). The new Select CD rate is just 5 bps above the current rate of Ally’s 12-month High Yield CD. Also, it’s higher than all other Ally CD rates, except for the High Yield 5-year CD.

As promised in yesterday’s WebBank’s High-Yield Savings Account (2.40% APY) blog post, here’s a look at their Time Deposits (CDs). After more than 20 years as a “behind-the-scenes” player in the loan industry, WebBank began to offering several CDs on a nationwide basis late last year. The minimum opening deposit for any of the CDs is $2.5k.

For a limited time, the Bank of Franklin County (BFC) is offering two CD Specials, with very competitive rates for deposits of $50k and above.

Both CD Specials are available as IRAs (Traditional and Roth), earning the same APYs with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for the 20-month CD Special is six months interest and nine months...

The name WebBank might sound like just another internet bank that’s recently popped up on the banking horizon, but this Utah-based institution opened its doors in 1997. WebBank had been a “behind-the-scenes” player in the loan industry for more than 20 years, when they began to offer an online savings account and several CDs late last year.

There will be a separate blog post about the CDs on Monday, but here’s...

Four months ago, CoVantage Credit Union’s (CoVantage) 17-month Certificate Special was a regional rate leader, with an APY of 3.25%. The rate was lowered to 3.00% APY in January, but with the recent trend of dropping rates, that 3.00% APY currently qualifies as a regional rate leader. While the majority of CoVantage Certificates can be opened with a $1k minimum deposit, the 17-month Certificate Special requires...

There were no surprises yesterday when the Fed made its post-meeting statement. The federal funds rate remained the same, and the same patience language was used to describe the Fed’s future plans:

One thing that did change in the statement from January was the description of the current economic condition. There were clear downgrades in its view of the economy:

In January, the Fed’s statement included these positive views:

Yesterday’s statement changed the above lines to the following:

This policy action was an unanimous decision with no policymaker dissenting.

In addition to the statement,...

Now through March 31, 2019, USF Federal Credit Union (USF FCU) is offering a 19-month CD Special, which earns 3.10% APY. The minimum deposit is $1k of new money, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty (EWP) for the 2-year CD applies to the 19-month CD Special, with partial withdrawals allowed. As stated in the Truth-in-Savings disclosure (part of the online application),...

The original intent for this EFCU Financial (EFCU) blog post was to highlight the 48-month CD, which earns 3.40% APY ($500 min) or 3.50% APY ($100k min). All of EFCU’s CDs offer tiered APYs, with Jumbo CDs ($100k min) earning an extra 10 bps.

When I took a closer look at EFCU’s rate sheet, I...

Colorado Federal Savings Bank (CFSB) added 35 bps to its 12-month CD (2.86% APY) yesterday. This latest rate increase puts the 12-month just shy of being the top-rated nationally available 1-year CD (minimum deposits of $10k or less). The 12-month CD can be opened with a $5k minimum deposit, with no stated balance cap.

A total of 116 bps have been added to the 12-month CD in the past year in five rate...

With the Fed anticipated to hold steady on rates for the next several months, internet banks have started to slow down their rate hikes of their savings and money market accounts. In the last two weeks, there were a couple of new promotional accounts with higher rates and a few rate increases, but there were no new ones with yields exceeding 2.50%. Below are the noteworthy savings, money market and checking account rate changes that have occurred in the last two weeks:

• Customers Bank High-Yield Savings (new, 2.50% APY, $25k min)
• MemoryBank...