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World Savings Being Acquired by Wachovia


Wachovia is acquiring Golden West Financial Corp. which is the parent of World Savings Bank (more, Washington Post). A few months ago, Wachovia acquired Western Financial Bank.

Hopefully, the bank deals at World Savings will continue. There was concern about Western Financial's online high yield money market account after the Wachovia take-over. However, the account remains, and the interest rate has remained competitive (currently 4.60% APY). Also, Western Financial has also been offering a competitive 5.25% APY 13-month CD.

World Savings currently has two nice CD deals. The first is a 5.16% 5-month internet certificate of deposit special. The other one just starts today and is available only at the branches. The CD pays 5.51% APY and you can choose terms between 7 and 11 months (see post).