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Finding the Best Bank Rates and Deals #4


This post is intended to be a place where readers can share info on the best bank deals. Your help is much appreciated. Also, I'm including a list of websites that list the best CD and money market rates. This is intended to be a place where you can start your search for the best bank deals.

This is the fourth finding-the-best-deals post. The last one was getting too long.

In your comment, please include the link to the deal. If the deal is not on the bank's website, please include the source of the deal (i.e. a New York Times newspaper ad, a sign at a local bank, etc.)

I'll try my best to post on the deals, and I'll be sure to give you credit. If you want to remain anonymous, simply comment as an anonymous user or email me at bankdeals at gmail dot com.

Don't worry about being absolutely sure that a deal is new and worthwhile. It's often hard to find all the small print or to find if the deal has already been posted. One tip to see if the deal has already been posted is to use the search box at the top of this page or do a search of my archive page.
Anonymous   |     |   Comment #1
You and your website are simply superb. I manage a $4 million private trust limited to FDIC or equivalent protected, zero-risk investments (hence, bank and credit union CDs, MMAs, etc.). With (due to trust configurations) FDIC-protected $400,000 and $100,000 blocks of cash to invest, I'm finding that, by flashing those numbers and pasting in deals from this site, bank executives (mostly from smaller, hungrier banks) sometimes "meet or beat" what you post here. I remind them of the "retail" costs of bringing $400k over the counter and thus how much I'm saving them by paying me a higher rate, or at least matching the top deals you and your commenters post here. Just wanted to thank you and turn other big game "rate-hunters" on to the technique that's worked so well for me. Thanks so much, and keep up the excellent work! (Yes, I've dropped some cash into your Tip Jar).
shrazzy   |     |   Comment #2
Anyone know any Variable or Bump CDs at good rates?
Anonymous   |     |   Comment #3
First Credit Union is offering 9 month 5.9% APY ($10,000 min) and 5.64% APY ($1,000 min) share certificates. Membership restricted to those related to those affiliated with the National Association of Postmasters of the United States.
Anonymous   |     |   Comment #4
For a few weeks now Countrywide has advertised a 7 mon 5.5% CD in CA.

Not the best and not much better than a MM, but still better than what's listed for Countrywide in the weekly summary.

AD in SF
scott   |     |   Comment #5

Rake in Super Savings – Apple’s Harvest Certificate, 3 months at 6.00% APY

Cash in on a cool savings opportunity, Apple’s special Harvest Certificate—3 months at 6.00% APY*! Available on NEW money transferred from another institution only. Limited time offer.

Don’t let this refreshing rate pass you by! Stop by any Apple branch or call 703-788-4800 to open your Harvest Certificate today.

*APY = Annual Percentage Yield as of September 23, 2006, and is subject to change without notice. Offer valid only on NEW money transferred from another institution. Minimum deposit $500; maximum deposit $500,000. Unless you notify Apple FCU otherwise, at the end of the term, the certificate will automatically renew as a 12 month certificate at the rate in effect at that time.
Anonymous   |     |   Comment #6
alpha bank has dropped their 1 yr.cd from 6% to 5.85%.
Anonymous   |     |   Comment #7
University of Kentucky Federal Credit Union is offering a 10 month 10% APY share certificate (min/max $1,000). Membership is limited to people living in the Philadelphia area.
Banking Guy
Banking Guy   |     |   Comment #8
Thanks everyone for the info and comments.

Scott, that 6% 3-month special is a good one. I've posted on it here.

And thanks anonymous for posting more great CD deals. I've posted on the 10% one here. I'll post on the others later this week.
Scott   |     |   Comment #9
Central National Bank has a 1-day 6.00% APY, 5-month CD Special ($5,000 minimum) at their Gardner, KS branches on Friday, October 20th. Gardner is near Olathe, a suburb of Kansas City. More info
rate freak
rate freak   |     |   Comment #10
Attn: Banking Guy
I made an error. This is regarding the World Savings CDs, where I said one can open additional CDs 100k max @ the promo rate with additional months added. After speaking with the new accts rep, that offer was a promo in itself. Therefore, my comments are invalid. My apologies.
Anonymous   |     |   Comment #11
Citi Bank lowered their 6 month CD to 5.25% apy
matt   |     |   Comment #12
Forgot to mention another draw to BECU's Member Advantage Savings and Checking.

I mentioned the 7.50% APY for the first $500 in each checking and savings takes Online Banking, eStatements, and Direct Deposits or free Bill Payment. I didn't mention that children (under 18) get the 7.50% without any of the participation requirements. A great deal for young savers!

$6.3 billion in assets, over 450,000 members. Membership primarily comes Washington state. Also options for others.
Anonymous   |     |   Comment #13
westbridge bank has a manager special 6mo. or 1 yr. for 6% min. 10k
Banking Guy
Banking Guy   |     |   Comment #14
Ratefreak, thanks for the update. I added this into the comments of that World Savings post.

Anonymous, thanks for the Citibank update. I'll have to update this on my next weekly summary.

Matt, Thanks for highlighting that young-savers feature. I did mention that in the post. I'll be sure to highlight that in my weekly summaries.

Anonymous, Thanks for the info on WestBridge. I have a post on it here. A commenter just mentioned that this 6% CD ends on the 20th.
Anonymous   |     |   Comment #15
NGFCU has raised their rates on "Bonus" IRA cert. this week.
Minimum of $40,000---3 year rate is 6.21-6.389. 4 year rate is 6.01-
Everyone eligible with $10 membership in SCHAF.
Anonymous   |     |   Comment #16
Kaiser Federal Bank in So California has 1 yr CD $50,000+ at 6% APY. May be time to go out to 12 months rather than 6 months. Just posted on website today.
Anonymous   |     |   Comment #17
FYI, the link on your front page still points to comments thread #3...
Anonymous   |     |   Comment #18
VAPR Federal Credit Union is offering 5 year 5.85% APY jumbo time shares. Non IRA/ESA shares require a $100,000 deposit. A 5.75% APY 60 month time share is also available with a minimum $500 deposit. Membership is limited to those affiliated with the government of Guam.
Scott   |     |   Comment #19
There is a new CD At Fairfax County FCU that might be worth mentioning. It is only 5.5% APY (good not great I suppose), but it also allows a penalty free withdrawl after 3 months. So you could use this as a 5.5% APY CD for 3 months. Its on the web site: http://www.fairfaxcu.org/ASP/home.asp

There is a $1K minimum deposit.
Anonymous   |     |   Comment #20
For those in select parts of the Houston, TX area:

MemberSource Credit Union has a 7.00% 7-month CD deal good until 11/30/06. Minimum of $1000, maximum of $7000. For those who remember Chartway CU's 8.00% CD deal, this one seems somewhat similar in that new members qualify to open one, and existing members can qualify for one CD for each new referral. The ad says you can have as many as you want, but this is linked to the referral requirement.
Anonymous   |     |   Comment #21
Banker Guy, thanks so much for all those great tips on your site. I felt obligated to find one and pass it on ...

There will be a special 1-day only promo special on Saturday, 10/21 from 9:00-1:00 only at the Eugene, Oregon OnPoint Community Credit Union for a 12-month CD paying 7.5% APY. The bank just opened on 10/16/06 so is running the promo.

There is no $ limit on the amount that can be deposited (minimum is $10k). They require a separate checking account with a minumum $500 balance to be maintained in order to avoid a $10/month service fee (no direct deposit required). Also required is a $15 membership fee ($5 of which is refundable when you close the account). The field of membership is limited to central/northern Oregon counties only.

Here is a link to their website:

The special was advertised in the Register Guard newspaper.

I'll be there early standing in line for this one!
Hershie   |     |   Comment #22
Banco Popular - NYC has advertised the following in the local AMNY news paper for today. (You can retrieve an online copy of the newspaper by clicking on left-side image on page - http://www.amny.com/services/site/am-pdf,0,439086.acrobat?coll=am-navigation-default)

5.5% APY - 8 month CD
5.55% APY - 16 month CD

Call 1 888 317 9062 for more info
Anonymous   |     |   Comment #23
Get a $75 deposit for a new checking account with Direct Deposit.
Open a new SECU Checking account with Direct Deposit and we'll deposit $75 into your account on Dec. 31!*

With a SECU Choice, Students' Choice, or Premier Checking account, enjoy free Bill Pay, free SECU-style checks, Bonus Loan Credits, Bonus CDs, Benefits Plus® travel and discount service and more.

* Sign up for Direct Deposit into a new SECU Checking account and receive a one-time $75 deposit into your account on 12/31/06. Limited time offer; open your new checking account by 11/30/06. Direct Deposit must be funded by 12/31/06 to qualify. Contact your payroll office to see if you are eligible for Direct Deposit.


There's a long list of membership....


One of them is the American Heart Association ($35 basic membership fee).
Shanny   |     |   Comment #24
Texhillco School Employees Federal Credit Union

They have several 6.00 and some higher. The five year is at 6.32 apy (75k deposit)

Looks like just local membership.
Shanny   |     |   Comment #25
One more...
Cintel Federal Credit Union

5y is highest @ 6.14 apy

And this one also looks like only local $
Anonymous   |     |   Comment #26
Thanks for the Great work.

Your readers might be interested to know that UMB bank is willing to make substantial upward adjustments to their stated CD rates. I was able to negotiate their stated rate of 4.09% for an 18 month CD up to 5.42% for a $50,000 renewal.
Banking Guy
Banking Guy   |     |   Comment #27
Thanks everyone for the comments.

Shanny, thanks for the info on those two credit unions. Here's a post on Cintel I did a couple of weeks ago. I'll do a post on Texhillco tomorrow.

Anonymous, thanks for the info on UMB Bank. Sounds like you did a good job in negotiations. It's important to remember that it never hurts to negotiate with your bank or credit union for a higher rate CD.
Ron in Tampa
Ron in Tampa   |     |   Comment #28
6% CD still available! I just called KAISER FEDERAL BANK in
COVINA, California and confirmed that through October 31, 2006 a 12 months CD rate of 6.0% is available to anyone! Their website is www.kaiserfederal.org which includes a link to their current rate sheet and their number is 800-524-2274. I just spoke with a customer service agent named Liz who took my contact information over the phone and indicated she will be mailing me a packet for opening the account. The minimum amount for this rate is $50,000.
Banking Guy
Banking Guy   |     |   Comment #29
Thanks for the info. Glad to read it's still available. Their 6% savings account didn't last long. I posted on this CD last week.
Anonymous   |     |   Comment #30
This is based on the experience, within the last week, of a friend. It's possible Visions FCU continues quietly to offer their seven for seven share certificate deal. If they are advertising this I am unaware and have not seen the ads. My friend, NOT a member when he cold called them, was offered this deal. Obviously he graciously accepted, there being few other seven percent opportunities out there. The max for this account likely is $100,000 if memory serves. Of course it's best to remain within the NCUA insurance limits anyway, regardless Visions I think rates five stars. Also to qualify you have to open an annoying checking account. Bottom line though, seven percent is a decent and competitive APY these days - any place you can find it.
Anonymous   |     |   Comment #31
Sorry no deal info - unable to log on to current days info since Tues. - anyone else have this problem?
Banking Guy
Banking Guy   |     |   Comment #32
About the 7% Visions CD, thanks for the info. Hope others will be able to take advantage of this deal. See post for more info.

Regarding the comment: "Sorry no deal info - unable to log on to current days info since Tues. - anyone else have this problem?"

Are you unable to see new posts on this bankdeals blog? One thing to try is to do a browser reload. The browser may just be showing you the cached version. I've noticed that I've had to do this more often lately. I'm not sure what happened.
Anonymous   |     |   Comment #33
Thanks, that solved my problem and I am again up to date. I find info on your blog invaluable. Thanks for what you do.
Sree   |     |   Comment #34
World Savings Deal - More details
1) The last Saturday closed (10/21/06)CD got some more life. I went to branch for some other reason, in the conversaion, I had shown my last week openend CD(6.01%) and asked, " I want to put some more money in this CD" Then she said, "You cant put more in the existing CD, but you can open another one" I said, OK, she gave me the same rate (6.01).
Moral: There are no hard and fast rules with branches, those are flexible, She said that the branches will give this rate till tomorrow(for those who missed, you can try)
Anonymous   |     |   Comment #35
KaiserFederalBank - 6% 1 yr CD. Spoke with customer service this morning - offer ending date unknown at this time. It is not 10-31-06 as previously posted.
Banking Guy
Banking Guy   |     |   Comment #36
Thanks for the info on World Savings. Glad you were still able to get the 6.01% rate. I also have seen this flexibility with CDs when they agreed to match Citibank's 6% deal (see post). It never hurts to ask.

About Kaiser Federal Bank, thanks for the info. Hope it'll last for awhile. One note regarding the 6% 5-year IRA, it's only open to those in California (see post).
Banking Guy
Banking Guy   |     |   Comment #38
Thanks for the info on this Lutheran fund. I'm not too familiar with how it's invested. Seems like a bond. They have some more info on this at this link.
Anonymous   |     |   Comment #39
Although posted several months ago, I beleive one of the better deals going is the flex CD at United Sevies Credit Union in Ashville, NC: 6.25% APY, one time pen. free wd up to 50%, bump rate, unlimted additional deposit into account.

The field of membership appears to be some what limited: But major field that does not appear on web site---retirees from anywhere can joint.

The flex CD is a hedge against decrease rates. I opened three accounts: wife, me and one POD to son. All three have balances less than $100M. If rates go down, will contine to deposit to the accounts. If rates go up, will make further deposits in other accounts. If rates go way, way up, wd 50%.

Also accounts can be open by mail.

Also the senior CSR "Pat" has been great to work with.

As I said, I believe this is one of the better deals going.
Anonymous   |     |   Comment #40
Kaiser Federal Bank 1 yr 6% CD gone as of this morning. Best they have at this time is 9 mo 5.50 APY
Anonymous   |     |   Comment #41
This Saturday (11/4) Wescom Credit Union is offering a 7 month 10% APY CD (min/max $1000) at their new Chula Vista branch (south of San Diego, CA). Pretty much anyone who lives in the area can join.
Anonymous   |     |   Comment #42
Does anyone know of a CD that can be purchased with a credit card (as i-bonds used to be) online? It would need to be accounted for as a "purchase" instead of as a "cash advance", with the intention of adding the interest from the card's cash back or other benefits to the CD's rate. Thanks.
Anonymous   |     |   Comment #43
I've given up on that game. I've gotten burned by 3% cash advance fees even though some people reportedly get away with it. It's like gambling. Not a safe use of your cash.
Anonymous   |     |   Comment #44
Zions Bank Deseret M/Mkt account up to 5.31% APY


Thanks for the great job you do !!
Bill Rys
Anonymous   |     |   Comment #45
Downey Savings has mailed coupons offering 3-month 4-month 5-month 6-month choice - 5.60APY. Coupon states Choose one of these terms and get this outstanding interest rate. Offer expires 12-02-06. Received this in Orange County CA. Have not checked if you can get it without coupon.
Shanny   |     |   Comment #46

Dutch Point CU

6.00% APY*
7-month certificate

Certificate requirements include:

New Checking Account
Direct Deposit ($100/month minimum)
Minimum balance $1,000
Maximum balance $50,000

Looks like just local membership
Anonymous   |     |   Comment #47
Regarding FDIC:

You can get "unlimited" FDIC coverage.
EVERY SS# on the account gives you another $100K coverage.
So add Benefiaries, and then add contingent beneficiaries.
Even if you hold it jointly with your wife (so $200K), have your 3 kids as beneficiaries (so $500K), you can have unlimited contingent beneficiaries, easily reaching $1M or more.
And you could make the extra beneficiaries only entitled to .000001 of the amount, and still get their coverage.
Banking Guy
Banking Guy   |     |   Comment #48
Thanks for the info. Do you have more info on contingent beneficiaries? I'm not familiar with this.

This FDIC page has many of the official details, but I wouldn't be surprised if they left out some.

One important point is that the beneficiaries have to be qualifying beneficiaries. See the FDIC page for more info.
Anonymous   |     |   Comment #49
This is not a real big deal but Apple Bank for Savings upped their Grand Yield Direct savings account up to 5.27% apy.
Anonymous   |     |   Comment #50
Bad news:
E-loan has lowered its CD rates.
Anonymous   |     |   Comment #51
patriot bank of georgia 12 mo. cd 5.95 first covenant bank 12mo. 5.90
Anonymous   |     |   Comment #52
first covenant bank (678)445-3329 patriot bank of georgia (770-887-9220
Anonymous   |     |   Comment #53
Atlantic Coast Bank has a 10% APY $1000 max 12 months CD promo. If you open a no-min checking account you can get another 10% 12 months CD. Bank also offer a 5.25% MM and a 4% Checking account. CSR also mentioned a 90 days CD for 5.65%(?) that's not listed on the web site. The CD deal is offerred at the newly open branch in St Johns, Florida. CD deal is probably local but not sure since I didn't ask.
Anonymous   |     |   Comment #54
GMAC Money Market up from 5.25% to 5.30%
Anonymous   |     |   Comment #55
Amboydirect.com is offering a 6% Money Market Maximizer (over $30,000) for 3 months. It is a promotional rate. Fill out application and then you need to put in code 60702. This was advertised in a local NJ paper. Money must be linked to an existing checking account and transfered for the initial deposit.
World has an inbank 5.41% ($10,000 min,) 5 month for APY 5.56.
Hudson City has 7 month 5.5% APY Keep the tips coming....Yours,Cinnamondog
Bozo   |     |   Comment #56
Sign of the times, as USAA lowers its 5 year CD 10 basis points.

Now, if you suspect the FED is going to 4.50% or lower, as I do, a reduction in USAA's jumbo rate from 5.91% to 5.81% is no big deal. Lock in whatever you can, as soon as you can.

OK, OK, USAA is a member thing.


Anonymous   |     |   Comment #57
Banking Guy wrote above: "One important point is that the beneficiaries have to be qualifying beneficiaries. See the FDIC page for more info."

It's an excellent point, but there is more. And this is a wrinkle the FDIC will not trumpet: If a beneficiary passes away while your account is open you instantaneously (at moment of death) LOSE your FDIC insurance on that account. This assumes insurance depended on having a named beneficiary, which often is the case. You may name a substitute beneficiary in this situation. Doing so will bring FDIC insurance back into force, following the gap. Most important, unless you can close the account without penalty, just be sure (in advance) you HAVE another qualifying person you could name, a person you would be comfortable naming as beneficiary. The FDIC is nasty on this, and gives no ground. I have spoken with FDIC legal on this matter. They offered no wiggle room whatsoever.
Carol in California
Carol in California   |     |   Comment #58
Today's LA Times CD&Deposit guide lists 5.60% on a one yr acct with a $10,000 minimum at First Standard Bank. There is no website shown, but they can be reached at (213)892-9999. Several other issues are listed as CALL. While not a great rate, this is competitive for S. Californians.
Anonymous   |     |   Comment #59
Banking Guy--you are the greatest--bar none--please keep up your great work.

Maybe not a big deal but Harbourside Community Bank of Hilton Head Island, SC is offering 5% interest on a free checking. Rate is guaranteed thru 4-15-2007.
Min. balance to earn the 5% is $1500.

In addition, you get a $50 gift cert. for three of the Island's better rest.

Website WWW.harboursidebank.com
Anonymous   |     |   Comment #60
City BAnk and Trust 6% CD.
I was able to get in touch with CSR. They do not accept out of state deposits and you need to have an account with the bank to buy a CD.
Anonymous   |     |   Comment #61
City Bank & Trust 12 months CD.
I spoke to CSR. No out of state deposits and you need to have an account with the bank to buy CD.
Anonymous   |     |   Comment #62
City Bank & Trust 12 months CD.
I spoke to CSR. No out of state deposits and you need to have an account with the bank to buy CD
rate freak
rate freak   |     |   Comment #63
Financial Parnters Credit Union. Limited offer. Field of membership are Boeing, perhaps aerospace employees. 13 month CD @ 6.07%APY, with the option @ 7 months for 1 interest free withdrawal. Min $1k to open and maintain.
Anonymous   |     |   Comment #64
Financial Partners Credit Union offer only good for Boeing employees on-site , not for those of us who use their off site facilities.
Anonymous   |     |   Comment #65
7 Month CD 10.00% APY*

*Available when you open a checking account and a New Leaf Savings Account (currently 4.01% APY on balances greater than $0). Annual percentage yield accurate as of 10/16/06. Minimum balance $500 and maximum balance $2,000. Limited time offer. Limit of one certificate of deposit per household.

There is no link to the CD deal (advertised in local paper), but here is the link for the Bank of Oakridge, New Leaf Savings

This bank local only (four branches) in Northwest NC.

not sure if you have this or not...AA
Anonymous   |     |   Comment #66
AmTrust Direct is offering 5.60% apy for 12 month cd

Banking Guy
Banking Guy   |     |   Comment #67
Thanks everyone for the deals and info.

I was able to post on a few of these. About that 10% CD, I have more information on this here And that AmTrustDirect 12-month CD is near the top of my 12-month CD list in my weekly summary.
Anonymous   |     |   Comment #68
Saw an ad for Commerce 1st in Annapolis, Md I=6.17% for 36 mo and min of 100K deposit
Anonymous   |     |   Comment #69
WT Direct online savings pays 5.26%. They give you 60 days to deposit $10,000. Just another option. Thanks for all the great info Banking Guy!!!! www.wtdirect.com
ob   |     |   Comment #70
patriot bank of ga. in cummings ga. paying 5.95% for 12 mo. cd
Anonymous   |     |   Comment #71
Melrose Credit Unions rates have been significantly lowered.
Matthew   |     |   Comment #72
As more of a general piece of advice rather than a specific rate -- small, local banks don't seem to have dropped long-term CD rates as quickly as E-LOAN, GMAC Bank, etc. Yesterday I was looking for a three-year CD rate better than E-LOAN's 5.35 percent, and without trying I found three local banks and two local, nonrestrictive credit unions at 5.45 and above. (For those in the Richmond, Va. area -- Henrico FCU at 5.5, Richmond Postal CU at 5.61, Central Virginia Bank at 5.48, Bank of Richmond at 5.45, and First Federal Savings of Virginia at 5.46.)

On a positive note, I love this site, Banking Guy, and I visit at least once a week. Usually it's one of your deals that prevails. Just not yesterday.
Anonymous   |     |   Comment #73
"If a beneficiary passes away while your account is open you instantaneously (at moment of death) LOSE your FDIC insurance on that account."

Do you mean you lose your FDIC insurance or that the account is now treated as an individual account in your name (or a joint account if there is more than one owner) as if no beneficiary had been named?
Anonymous   |     |   Comment #74
E*Trade Bank has joined the High Yield Savings race. They have a new "Complete Savings" account that pays 5.05% interest on all balances $1 and up:

For those who have been keeping a Money Market account at E*Trade, remember that the minimum balance fee is waived with $5000 in combined savings deposits in all accounts. Since you can do instant transfers between the two accounts, you can keep the Money Market account open to take advantage of the checkwriting and ATM features by keeping a $5000 combined balance.

Unlike the ED, Ing, and E-Loan High Yield accounts, this one does not have an "absolutely no fees" feature. While there is no minimum balance fee, nuisance fees like returned deposit fees still apply.

There is also a provision in the account terms that in order to open this account, you must switch to electronic statements for ALL of your E*Trade bank accounts.
shrazzy   |     |   Comment #75
Yup that is great news, more online acct savings to compete!
That is why APY are still so high and not pushing down compare to CD's.

Etrade is great
Anonymous   |     |   Comment #76
Want to join a Credit Union, but don't seem to qualify? Look for an orginization you can join, rather than work for.
I just joined a local Humane Society, for a $10 contribution on their website, and so was "affiliate" with the Society.
Now I'm a member of the CU, earning a great CD rate.
Look for the word Afilliated in the membership area, and work it.
Anonymous   |     |   Comment #77
6% APY for 12 months through ViewPoint Bank, https://www.viewpointbank.com/. It's their "November CD Special," requiring $125K minimum and apparently available to out-of-state customers.
Anonymous   |     |   Comment #78
I was told at Viewpoint in October by a head CSR who checked with the VP that it's only for local. It'd be great if it wasn't just local though! Who'd you hear it from?
Anonymous   |     |   Comment #79
On Nov 15 Anonymous asked: "Do you mean you lose your FDIC insurance or that the account is now treated as an individual account in your name (or a joint account if there is more than one owner) as if no beneficiary had been named?"

Well, first, you cut out my next sentence and failed to include it in your quoted material. That's not OK. I said the FDIC insurance is lost instantaneously upon death of the beneficiary PROVIDED the beneficiary was needed in the first place to obtain insurance. The point was that there's no grace period and no flex by the FDIC on this. Coverage just ends abruptly; and it does not resume until you name another qualified beneficiary. It is true the account is treated as an individual (or joint) account, as you suggest. But sometimes, depending upon how your other accounts are structured, that can put you over the FDIC insured limit straightaway, which is why you needed to name a beneficiary in the first place. Another alternative when a beneficiary passes away is to withdraw the uninsured funds. This can be tough when a penalty is involved.
Carol in California
Carol in California   |     |   Comment #80
The Ventura County Credit Union is advertising a 6% 12 mo certificate with a $1,000 minimum in today's Ventura County Star. Eligibility is anyone in Ventura or Santa Barbara Counties, California. This CD requires a direct deposit checking account. Phone 800/339/0496
Banking Guy
Banking Guy   |     |   Comment #81
Carol, Thanks for the info on the CD special. I actually checked the Ventura County Star today, but that ad wasn't listed in online. But once I did a search specifically for it, I was able to find it. So I would never have found it without your help.

Anonymous, thanks for the info on Viewpoint Bank. My last call to that bank was in early October. So they may have changed their policy on out-of-state deposits. This is common for small banks. I added your comment to my Viewpoint Bank post.
shrazzy   |     |   Comment #82
Etrade money market now at 5.28%
Anonymous   |     |   Comment #83
Advantis Credit Union in Oregon is offering a 5.70% APY 11-mo CD, $5000 must be new money. Deposits between $5000 - $100000 accepted.


Membership Eligibility
Anyone who works for an eligible employer located in Multnomah, Clackamas, Washington, Columbia or Yamhill Counties, or who is a family member† of the employee within industries listed below:

See web site
shrazzy   |     |   Comment #84
nvm now e-trade MMA at 4.40%
must have been a late night bug
Banking Guy
Banking Guy   |     |   Comment #85
Anonymous, Thanks for the info on Advantis. I also noticed a nice checking account bonus. I posted on these here.

Shrazzy, one quirk on the ETrade MMA rates is that it will show the 3-month promo APY after you visited their promo page if you don't clear your browser cache.
Anonymous   |     |   Comment #86
BankDeal, great site! For those who have lots of money: minimum $25k to open up The Merrill Lynch Special CD Offer of 6-months, 5.57%rate/ 5.65%apy. Offer good 11/20/06 thru 12/15/06 2pm.
Banking Guy
Banking Guy   |     |   Comment #87
Anonymous, thanks for the info on ML's 6-mo CD. I've posted on it here.
Anonymous   |     |   Comment #88
BThanking Guy: Thanks for your great work.

Sometime ago you made a post relating to MCAS Beafort FCU about thier 15 mo., 6% apy CD.

The field of membership appears to very narrow -- live, work etc. in Beaufort Co., SC. Beaufort Co. is very unusal in that tere 3 large mil. bases in Beaufort Co.--Parris Island, MCAS, and the Naval Hospital. In addition, Beafort co. imports many many workers on a dailey basis to provide services to Hilton Head Island which is part of Beaufort Co.
Banking Guy
Banking Guy   |     |   Comment #89
Thanks for the info on Beaufort Co., SC. Hopefully, there are many who are eligible to join MCAS. BTW, that CD special is still listed on their website. Here's that post on this 6% 15-month CD special.
Anonymous   |     |   Comment #90
Hudson City Savings Bank in the NY NJ and Conn Area has a 7 month CD for 5.5% .
Mike   |     |   Comment #91
Hey banking dude..

Happy Thanksgiving!

Found a pretty good deal, 6% APY on 1-yr CD rates in Arizona. $1,000.00 minimum.

Check out Canyon State CU in Phoenix.
Banking Guy
Banking Guy   |     |   Comment #92
Thanks Mike. I reported on it in October, but I just posted on it again here since it is a very good deal in which most everyone in Arizona should be able to take advantage of.
Gaurav   |     |   Comment #93
I saw an add from Southern New Hampshire Bank that has 6-7 branchs in northern Mass and Southern New Hampshire about 5.5% APY CD for periods of 6-12 months. Min balance required is 10K. I am going to try them next week.
Anonymous   |     |   Comment #94
Kinecta Federal Credit Union.
Banking Guy
Banking Guy   |     |   Comment #95
Thanks everyone for the info.

About Kinecta, it looks like the money market account requires a balance of $100K to earn the 5.25%. Here's their rate page.
Anonymous   |     |   Comment #96
Banking Dude, I love your site and appreciate all of your work. Have you ever looked at equity-linked CDs? I have heard about them -- google has a fair amount of info -- but never seen them advertised. The idea is that your principal is completely protected but you get possible upside if the stock market does well, and only get to keep your principal if the market goes down over the life of the CD. Sounds interesting. Any experience with these? Aloha from Hawaii.
Anonymous   |     |   Comment #97
GSA Federal Credit Union is generally restricted to those related to the Dept. of the Interior.
Anonymous   |     |   Comment #98

Hudson City Savings Bank
7 months, 5.50% APY, 5.35% rate
4 months, 5.40% APY, 5.26% rate
Anonymous   |     |   Comment #99
Citi Bank just reduced their 6 month CD to 5.00% APY
Anonymous   |     |   Comment #100
ING Direct up to 4.50% APY.
Anonymous   |     |   Comment #101
As an ING DIRECT Customer, you believe in saving and know we try to make it easy for you to save more—without hidden fees and catches. Many of you have asked when we would do for checking what we did for savings. We have an answer! It's called Electric Orange and it's exclusively for you. It's America's first paperless checking account and you can be one of the first to have it.

Electric Orange is everything you'd expect from ING DIRECT and more:

It pays high interest
5.30% APY on every dollar for balances of $100,000 or more
5.05% APY on balances between $50,000 and $100,000
3.00% APY for balances up to $50,000
A MasterCard® Debit Card for purchases
Free ATM access at more than 32,000 locations nationwide
Free Bill Pay
Send money securely to anyone for Free with Electric Checks
(Annual percentage yields apply to your entire balance. All listed rates are variable and effective as of 11/29/06.)
Banking Guy
Banking Guy   |     |   Comment #102
Thanks for the info on the new ING checking account. I just posted on it here.
Anonymous   |     |   Comment #103
Harborstone CU in Washington state has checking and savings accounts at 4% yield. To qualify for this yield requires 2 online bill payments a month or direct deposit.
BECU pays 7.5% on first $500 in checking and savings accounts and 1.75% above $500. Also located in Washington state.
Becu works better for me since they have more branches and are part of the CU Service Center network. This gives you access to your account even if you travel out of state. For instance I have a CU of Denver account that I can access here in Seattle through BECU Branches and vice-versa.
Anonymous   |     |   Comment #104
Amboy is showing tiered structure now.

5.25% for <>
5.35% for >= 20k
Anonymous   |     |   Comment #105
It looks like GMAC Bank has had a rate reduction on its money market account from 5.30% down to 5.25%
Anonymous   |     |   Comment #106
It looks like a lot of 6% CD have been reduced today...DCU and Agriculture FCU are history. Are there any 6% CDs left?
Anonymous   |     |   Comment #107
not sure where to post but getting the info out.

On the website ther eis a place to renew you about to expire CD but nowhere's to end the cd have the money mailed to you etc.
While it wasnt very hard to get the info from customer service its just that that info should be posted on the website and I find it somewhat dishonest to not pro-offer that much needed info.
Anonymous   |     |   Comment #108
This credit union with restricted membership mentioned before on this site has bumped rates up instead of down

60month rates over 6.00% for some accounts
Anonymous   |     |   Comment #109
American Bank Of New Jersey
Verona, NJ branch only. Grand opening special. New money only.

American Spirit Money Market Account
$50,000+ 6.00% apy
$25000+ 5.25% apy
$2500+ 4.50% apy

Rate goods thru 03/31/2007
Anonymous   |     |   Comment #110
Anyone wishing to to advantage of some of the fine rates offered by the Navy FCU mightg be well advised to call their membeship nmber directly instead of trying to sign on on their web page.
On the web page I could not find any qualifying section but by calling they were happy to sign me up on the basis of prior military service (40 years ago).
They could not have been friendlier or more anxious to help find some way to enable my membership. Seems to be more ways to join than web site indicates.
Anonymous   |     |   Comment #111
Digital Credit Union's 6.00% 16-month CD has finally ended. They have replaced their three existing CDs with a 13-month 5.50% and a 7-month for 5.00%.

On the plus side, they are offering $20 for referrals.
Banking Guy
Banking Guy   |     |   Comment #112
About Navy FCU, thanks for the info. I included your comments in my last Navy FCU post.

About DCU, thanks for the info. I just did a new post.

About Tucoemas Credit Union, thanks for the info. Glad to see rates staying high here. I did a new post on this.

About American Bank Of New Jersey, thanks for the info. I found their website here. There's also a pdf of this special. Looks like I should have posted on this yesterday since the grand opening ended this afternoon. I hope this MMA special is still available and wasn't just available today at the grand opening? It's not clear from the pdf.
Anonymous   |     |   Comment #113
Bad news from United Services Credit Union. Got letter today from them--after 1-12-2007, they will not allow additional deposits into their Flex 12 and Flex 24 CD's. So much for the hedge factor for makeing additional deposits as rates decrease.

Appears from the letter the flex account CD's promotion was too successful. But the 6.25% APY is a very good rate for the current deposit balance.
Anonymous   |     |   Comment #114
5.00% savings account.

StarOne Credit Union.

Live or work in Santa Clara County, CA; Lockheed Martin employees/retirees; other employers.

Branches in Sunnyvale, Cupertino, and San Jose, CA.


Thanks for your info!
Anonymous   |     |   Comment #115
Banking Guy... Whats your gut on PenFed, think they may start off the new year with some 6%'ers
Anonymous   |     |   Comment #116
5.60% APY for 7 month CD advertised in Chicago Tribune by Prairie Bank & Trust, http://www.prairiebank.com/. No checking requirement, however, CD can only be opened at bank locations (all in IL), according to rep I spoke to by phone. Promotion started last week, should continue for another one or two weeks, but there's no specified expiration date, according to this rep.
Anonymous   |     |   Comment #117
Chartway Credit Union 7M 7% special. If you are not a member and need a referral please email me at leo.canzoneri@verizonbusiness.com as I would like to open this special as well.
Carol in California
Carol in California   |     |   Comment #118
Mid-State Bank and Trust is offering a 5.70% IRA for new money for 12-23 months. Mid-State has many branches on the Central California coast. This promotion was advertised in the Ventura County Star today and is available until 12/31/06. Their web address is midstatebank.com and the phone is 800-473-7788.
Anonymous   |     |   Comment #119
Huron River Area Credit Union has new 6% APY special, a 4-month CD, replacing previous 6-month special. $5K minimum.
Anonymous   |     |   Comment #120
United Services Credit Union is breaking their promise, on their Flex CD, to accept any additional funds over the life of the CD.
President just sent me a letter, saying they were cutting it off in 45 days.
I want my money back. Do you think they'll give it back without a fight?
Banking Guy
Banking Guy   |     |   Comment #121
About USCU changing the agreement on these Flex CDs, I've heard of others having this same problem. It does seem unfair based on the intial agreement. Please refer to this post.
Anonymous   |     |   Comment #122
1st Constitution Bank still running a 4.75% consumer savings special. Extended through March. 10k minimum. Best by far in the NJ area brick and mortar banks.

Call 609-750-0200; Wendy or Dinelle, for details.


Plainsboro Office
Plainsboro Plaza Shopping Center
11 Schalks Crossing Rd.
Plainsboro, NJ 08536
Anonymous   |     |   Comment #123
Bank of Atlantic

can open online if you like

need initial deposit of $500

but no minimum balance after initial deposit

require direct deposit or us7e of billpay to get $77 after 77 days of account in good standing

open 8am to 8pm seven days a week

free $77 and gift for opening an account

free gift for referral

got me a george foreman grill and a tv for referral
Anonymous   |     |   Comment #124
Got 23,000 from credit cards at 0%

park it into 5% bank to earn $100 a month.

Discover Card is best, gave me 0% for life of balance.
Anonymous   |     |   Comment #125
E-Loan dropped their savings account rate to 5.38 APY. Thought you would like to know.
Anonymous   |     |   Comment #126
Regarding Eloan, I would double-check the amount they paid you in interest for Novemeber. They miscalculated mine of course to the down-end. How is it possible to get less interest then the prior month, when the interest rate remained the same during that month and you made additional deposits and no withdraws?? After calling them on it. The first call - they took my name and number but never got back to me. The second call into them - they kept me on hold for 20 minutes and then hung up on me. The third call - I was told to send a secure email. Their response- we will research and get back to you in 7-10 business days.

The rate drop - no surprise there.But that did not happen until the month.
Anonymous   |     |   Comment #127
I'm looking for a referral from a new member who has just opened a Chartway FCU 7%,7M $7K certificate or a checking w/direct deposit so that I can open a 777 as well. Please email me at leo.canzoneri@verizonbusiness.com
Anonymous   |     |   Comment #128
Anonymous wrote this re USCU: " . . . I want my money back. Do you think they'll give it back without a fight?"

I have no way to know for certain. But I would have to think USCU would be DELIGHTED to cancel your certificate and return all of your money, if you so requested. This offering apparently was massively oversubscribed, and for obvious reasons. I certainly would not counsel you to cancel, given the lofty interest rate. But if that is your wish, I seriouly doubt they would object. You would, after all, be doing them a favor.
Anonymous   |     |   Comment #129
Interesting offer I found from a bank in the Czech republic offering US dollar interest on CDs. Apparently the bank, which claims to be backed by the state and has a Moody's A1 rating (which is decent) earns a high enough spread on its outstanding mortgage loans to offer a 48-month CD (US$10,000 minimum) paying 8.51%, paid annually. This sounds too good to be true so it may well be, but the website looks legit an even offers deposit insurance up to US$30,000. The website says the 8.51% rate is available until 15 Nov 06 but I emailed them and they responded back within an hour saying it was extended until 15 Jan 07. Has anyone had any experiences with this bank?
Anonymous   |     |   Comment #130

6 month 6 % Cd anniversary special CD. It ia on their website but requires membership and direct deposit.
Anonymous   |     |   Comment #131
Regarding USCU changing their FLEX deal:

They game me my $100K back. No hassles.
I was glad, since I wired it to a 5 year CD paying 6.38%. In 2 years, when rates stink, I was going to regret locking in at only 2 years!
Remember, rates peak every 6 years ('80, '86, '94, '00, 06) So be ready again in '12.
Anonymous   |     |   Comment #132
Charles Schwab is offering brokered, callable CD's from MidFirst Bank (6.05% APY, 20 years, paid semiannually, not available in Texas and Oklahoma, min $1,000) and ANB Financial (6.0% APY, 15 years, paid monthly, min $1,000). These are all FDIC insured up to the legal maximum. You might be able to get a higher rate by calling the bank directly.
Alpesh Patel
Alpesh Patel   |     |   Comment #133
FLorida telco (Jacksonville, FL) is currently offering 6% APY for 9 Months
Anonymous   |     |   Comment #134
Penn Federal Savings Bank, headquartered in West Orange, NJ has a 5.40% APY CD for 9, 18 or 30 months. The minimum deposit is $500, $250 for IRA's. The web address is pennfsb.com. The deal is listed on the web site. No information if you can open via internet or phone.
Steve   |     |   Comment #135
GMAC Bank just dropped their CD rates again. Looks like it it time to open an igobanking account!
Anonymous   |     |   Comment #136
Los Angeles Firemen's Credit Union is offering 4 month 6.7% APY IRA certificates. New money only. Membership is limited to those affiliated with the Los Angeles City Fire Department. Note that deposits are insured by ASI and not NCUA or FDIC.
Sree   |     |   Comment #137
www.countrywide.com got 5.50 APY(5.35 APR) CD for 3 months, min $10K, 3 months penalty(even taken from the principle if closed before 3 months) saw it on San Francisco Chronical on 12/10/06, www.sfgate.com, just spoke to the CSR, you can open it on phone and lock the rate for the next 10 days so that you can fund the CD in that time. for more details call 1-800480-5634, the CSR name is Kimberly
Duck   |     |   Comment #138
Just saw this listed for Equity bank in texas
Equity Bank has a 7-Month Certificate of Deposit that earns 5.60% .Found listed at
Emoney central.com site says only $1,000 min but here is number for anyone interested
Dallas branch 214-237-3170 Ill post more when I call to find out specifics. also
First National bank Southwest is offering 5.50% for 6 months $500min in monday Dallas morning news
Anonymous   |     |   Comment #139
Superior Savings of NE has MM account 50k + with 5.5& yield.
Anonymous   |     |   Comment #140
Too good to be true? 6mo.CD 7.44% FDIC ins. Advertised in the Sacramento Bee. (916)628-8450. Worldwide Financial CD & Retirement Services. Cant find a website. Makes me nervous. Can you verify such a place as legitimate?
Banking Guy
Banking Guy   |     |   Comment #141
Thanks for the info.

I have a post on Superior Savings' 5.50% MMA here.

About that 7.44% CD, the ad is available online here.

I think there may often be some bait-and-switch tactics at these places. Also, this CD may involve foriegn currency (see Everbank). This could explain the high rate. However, as stated at Everbank: "FDIC insurance coverage does not protect against any risk associated with fluctuation in currency prices."
John   |     |   Comment #142
E*Trade's Money Market account is up to 5.28% (a big bump) for all levels of balances. The account offers ATM fee refunds, so if you consider that, I think it is a heck of a deal
Anonymous   |     |   Comment #143
Found a nice cd deal. 37 months 5.40 apy at K Bank Please let me know if you know anything about this Maryland Bank. Thanks, Rod

Anonymous   |     |   Comment #144
I got a post card from Amboydirect(NJ) unadvertized on web and not available in local branch. Moneymarket maximizer special promo 6%(5.3%APY) for the first 3 months for $30k - $100k (max 250k). Every day rate 30k-250k - 5%, 5k-29.999k - 2% and no interest < 2k. offer expires 1/15/07. (rkprebates@yahoo.com) 2k.="" offer="" expires="" 1/15/07.="">
Anonymous   |     |   Comment #145
bank in ga mcintosh commercial bank paying 5.75 1yr cd 770-834-6800
richmondbankdeals.blogspot.com   |     |   Comment #146
Central Virginia Bank is at 5.62% APY for 60-month CDs and at 5.54% APY for 42-month and 60-month CDs.

Richmond Postal Credit Union has a 60-month Share Certificate at 5.86% APY. RPCU is open to all who live, work, worship, volunteer, or attend school in Richmond, Va., as well as area postal employees and area retired postal employees.
Dan with Bank-Anywhere
Dan with Bank-Anywhere   |     |   Comment #147
Not a deal - just a resource people might find interesting - FDIC banks search and map at Bank-Anywhere.com
Duck   |     |   Comment #148
I went to Washington federal savings bank yesterday they have a 5.50%apy 9month theyare not to large found them in az in mesa,gilbert area but moved to tx they have a few here great mortgage though .But back to subject they dont do anything online so BM only http://www.washingtonfederal.com/
Anonymous   |     |   Comment #149
MCT FCU has "levels" of membership. If you have 4 accounts, and $50K in deposits, you are Level 5
Level 5 adds .5% to every CD you take out.
So their rate on a 5 year becomes 6.9% APY!
Keep your eyes open for this kind of member specials.
Anonymous   |     |   Comment #150
5.75% self insured to $250k http://www.patelco.org/accounts/new_for_you.aspx
They have a nice bump feature too.
Anonymous   |     |   Comment #151
Fort Belvoir Decreased rates again
1 yr 4.86
2 yr 5.07
3 Yr 5.18
4 yr 5.29
5 yr 5.44
Anonymous   |     |   Comment #152
Dont forget to show Emigrant's Cd's Any length of time up to ten years is 5.20%. rod
Anonymous   |     |   Comment #153
hudson valley federal credit union in new york has a 6% CD for 6 months
mikef445   |     |   Comment #154
You might already be aware of this, but Ascensia Bank has a jumbo money market for 5.55%. The only catch is that it requires a 100K and here is the hyperlink:
mikef445   |     |   Comment #155
Ascensia bank has a competitive rate on it money market account, the only caveat being the minimum investment is 100K. The rate is 5.55% and the hyperlink is:
Banking Guy
Banking Guy   |     |   Comment #156
Thanks everyone for the info. I've included many of these in my latest weekly summary.

About Emigrant's MyWay CD's, I've started including some of their 5.20% CD's in my list. As CD rates of other banks have decreased, these MyWay CD's are becoming a good deal. I'll have to include more of these.

About Ascencia's 5.55% MMA, thanks for the info. I included it in my weekly summary under "High Rates with Conditions - Open to All" section since it has a high $100k balance requirement. Here's the post.
Anonymous   |     |   Comment #157
Has anyone recently in the past few weeks become a new member of Chartway. I'm looking for a referral from a new member so I can open the 7M 7% Certificate. Please email me at leo.canzoneri@verizonbusiness.com
Anonymous   |     |   Comment #158
hot hot www.myalphabank has 1 yr cd for 6 % !!!!!!!!!!! call 678-534-5804. i got mine!
Banking Guy
Banking Guy   |     |   Comment #159
Thanks for the info on myalphabank. Did you open it by mail? I had posted on this last week. It does seem like a good deal.

About Chartway's 777 deal, please refer to my Chartway post.
gary   |     |   Comment #160
Gloucester County Federal Savings Bank (www.gcfbank.com) is listed at Bankrate.com (3 of 5 stars) with a MMA having a 5.61% APY, with only $100 to open. Sounds nice, but this rate applies across all tiers only for 90 days. After that, you must have $25K to get this rate. $5-$25K get only about 3.03%.
Banking Guy
Banking Guy   |     |   Comment #161
Thanks for the info on Gloucester County Federal Savings Bank. I had posted on this on Dec 9th. Please refer to that post for more info. Looks like a good deal especially for those with $25K+ balances.
Sree   |     |   Comment #162
Provident Credit Union, SF Bay Area(CA) 5.25% APY for 3 months promo CD
richmondbankbeals.blogspot.com   |     |   Comment #163
DuPont Fibers Federal Credit Union has a 24-month Share Certificate at 5.72% APY. There is unfortunately a minimum of $50,000 on this certificate. DuPont Fibers FCU offers membership to employees of over 100 Richmond (Va.) area businesses, as well as DuPont employees in Richmond, Charlotte, and Ohio.
Anonymous   |     |   Comment #164
I was told today (12/20/06) by PenFed that a (maybe 3-5 yr, not 100% sure) CD rate of 6.25 will take effect on 12/27/06 and available for about 3 months. Good for IRA, too.

Also 5.75% for 12 month CD (can be IRA) at HavenTrust Bank around Metro Atlanta GA (678-387-6401)

Great site!
Anonymous   |     |   Comment #165
hello all: very good site!!!

I found rutgers credit union cd for 1 year here. I am a rutgers student also. So i went and opened a rutgers 1 year cd today. i have never opened a cd in credit union before, am i safe with rutgers, or i am maked a mistake by opening a cd at rutgers- will i loose my money at the end of the year or shold be ok?

Anonymous   |     |   Comment #166
12/28 PenFed make my day.. I'm going long..... Thanks for the great info.
Anonymous   |     |   Comment #167
Does anyone have any info on Millennium Bank?....They are offering 7.75% on 1 a year cd. I don't think they are FDIC insured as they are Swiss registered.
Anonymous   |     |   Comment #168
Remember, rates peak every 6 years. You will be ****ED if you lock your money in now for 2-3 years. When those come due, rates will stink (think 2003).
Now is the time to take 6+% on 5 year CDs, and move on. The fun is over until 2012.
Anonymous   |     |   Comment #169
I need a High Interest checking account (like Everbank's 3.6%) that I can access on line, and use their internal ACH to move money from other (CU savings accounts) in the checking account.
Anonymous   |     |   Comment #170
Change that! I need a high interest MM account, since I'll only need to write 1 check a month out of it.
But I really need the link to other accounts thru their own, internal ACH.
IF eloan allowed multiple account links, it would be so nice.
Anonymous   |     |   Comment #171
Popular Offer Extended!
9-Month 5.50% APY* Bump CD
If Rates Rise ... We'll BUMP IT UP!

Apply Online
$10,000 Minimum
California Residents


Gilmore Bank
Anonymous   |     |   Comment #172
http://www.octfcu.org/ is waiving membership fees for new members through 12-31-2006 and is offering a 0.25 promo rate increase (e.g. 5.50% 7 month certificate for 5.75%)


Open a new Membership online and enter Promo Code: GIFT on the application.** Or simply visit any OCTFCU branch and mention “The Gift of Membership.” Offer expires Jan. 31, 2007.
Anonymous   |     |   Comment #173
hello all: very good site!!!

I found rutgers credit union cd for 1 year here. I am a rutgers student also. So i went and opened a rutgers 1 year cd today. i have never opened a cd in credit union before, am i safe with rutgers, or i am maked a mistake by opening a cd at rutgers- will i loose my money at the end of the year or shold be ok?

anyone opened cd's at credit union- anyone, specailly rutgers.. and is irt safe?
please reply

Anonymous   |     |   Comment #174
Anonymous, The Rutgers credit union is insured by the NCUA (National Credit Union Administration) so you don't have to worry. The problems with CDs are if you need the money before the term expires you are penalized several months interest. You also need to make sure at the end of the CD period to take the money out then if you want to --otherwise they will probably automatically renew it.
Anonymous   |     |   Comment #175
Anonymous said: "I need a high interest MM account, since I'll only need to write 1 check a month out of it.
But I really need the link to other accounts thru their own, internal ACH."

GMAC bank (with a 5.2% APY) meets all these criteria. It also has low minimums.
Banking Guy
Banking Guy   |     |   Comment #176
Thanks for the info on NCUA and GMAC. That's exactly what I would have mentioned.
Anonymous   |     |   Comment #177
Regarding GMAC MM account:

Can I use GMAC's internal ACH links, to link MULTIPLE accounts to this MM account?

Many banks allow a single ACH internal link, I need multiple.

Thanks again!
ctgottapee   |     |   Comment #178
netbank is offering $220 in bonuses for signing up with new accounts if you use the onrebate.com service


this appears to be a constant link promotion, and terms and bonus ammounts change regularly. i got in on a $20 visa gift card for a 1 year cd earlier this year and all went flawlessly. this time you must be a new member, but previous offes were only for new accounts regardless if you had other accounts. if you can aoid fees, it pays to open the multiple accounts as they pay more interest based on the accounts you have open.

i'm not sure if they actually check your info with onrebate.com to verify you are a member, using the link may be enough. the link is generated on the onrebate.com site after you use them for one of your rebates, like a purchase through best buy or similar.

you could always try the checking and if they don't pay out the bonus call and complain and if they still don't pay close the account.
ctgottapee   |     |   Comment #179
what about unsecured notes?

i preface that if this suggestion is used, you should put some type of in your face warning around the msgs like a big red box or msg text in red.

some reputable firms offer unsecured notes that act a lot like CDs. the benefit is they offer higher rates, the downside is that returns of interest or principal are not guranteed if the company goes to crap as your notes are at the bottom of the bankruptcy chain.

i have had luck with a firm offering several notes called sumner harrington.

they just broker the notes, they don't offer notes in their own company.

they have offered notes from various firms, some small, some well known, some that looked like they were going down the toliet.

i can tell you my experiences on several note buys i've done.

with each note you get prospectus and also quarterly statements the company releases. you do have to do some reading and a little research but it is a nice introduction in to the market world which can be confusing.

my first note was with a small firm 'onyx' that managed car loans through car dealers. i got 7.85% over 2 years, i renewed for another 2 years but during that time the company was bought and the new company called the notes early. all payments were on time and i receive anuual statements and quarterly filings by the company in the mail.

i recnetly purchaed notes from 'winmark', a firm that owns the 'play it again' and other similar franchises. i'm in on a 9.69% APY for 4 years, and all interest payments and communications have been timely.

i have seen some rather risky offerings from them, with even higher rates. you do have to read the literature to estimate just what type of firm your getting into. sumner has offered one note that did fail in the past, ie the firm went insolvent. they are also offering a note right now in which the firm appears to be shifting debt, ie using your note investment to pay off other prior note investors, however the prospectus clearly pointed this out.

the part i like about the notes is they operate and feel like CDs, both in calculating 'potential' returns and also tax wise, no complicated dividend stuff. they also allow interest payouts like a typical CD direct to a deposit account at your bank so you don't need to join a brokerage or pay transaction or other hidden fees. they make their money by taking another 2% or so on top of the note from the offerer and through other fees direct to them. opening an account is easy although you do have to disclose your investments and other assets so they can **** whether or not you can handle the risk through market rules and reporting policies.

overall it is a nice way to add a little more risk and payoff. if you request materials for one offering, you get on their mailing list and receive all sorts of offerings of which you can browse until you see something you like. it can also be a nice indication of their predication of interest rates as they try to stay above them.

buyer beware

i've also seen similar deals with real estate offerings but that seems a bit too riksy sending money to some unknown broker. here you at least have money in a real company.

this sort of note thing is not so common so it could be fairly easily maintained here.
Banking Guy
Banking Guy   |     |   Comment #180
Scott, Yes, you can link multiple checking and savings accounts to your GMAC MMA. All can be linked by the trial deposit method. I have linked about 5 accounts so far.

ctgottapee, thanks for the netbank deal and info. It looks like the drugstore.com Netbank promo is a little better (see post).

And thanks for the info on unsecured notes. Do you consider unsecured notes the same as what's described at BestCashCow?
ctgottapee   |     |   Comment #181
regarding netbank, yeah it looks to be the same deal, i imagine if you get creative with chaning the link ids at the end they probably have tons of differnt referrers but more than likel the same basic deals. the big difference from before is that current netbank customers could take advantage on new accounts, whereas now you must be a new customer in whole.

regarding the notes, it is not like that article. that article refers to a more liquid unsecured commercial paper, which is basically money printed by the company that they redeem and offer interest on, sort of like the early days when businesses printed their own currency. it is higher up on the food chain of redemption if the company goes broke and you generally get a percentage out of it; often company employees are vested into it. it really is a cheap way for the company to garner liquidity as they offer fairly low rates rather than paying a bank up to twice the amount to borrow from them or even more to borrow from another company or private investor whom both want more hard core gurantees and asset backing.

unsecured notes are really just like stock market investments. most companies offering them do so instead of selling stock or going public.

the diff from stocks is because they are not market securities, they are managed by a single firm who acts as the middleman which can lower the fees or make the whole process less confusing and overwhelming. they are not very liquid, ie there are lots of rules about getting your money out. they are generally not tradeable either on any market although it is possible. sometimes companies go this route if they are deemed risky by the market or are just too small to be listed affordably. they also have more control over there notes, ie they can call them early, or go bankrupt and just throw them out.

as i noted in my first post. 1 note i had was called early when the company was sold and the new company chose to go public. sumner had offered 1 note way back when where the company went to bankruptcy and didn't pay out fully, but research into would have shown a wise person it was troubled. a current note i have with winmark (ie play it again sports) is a publicly trading company choosing to go the note route and buy back stock with it. the board of directors owns a good portion of the long term notes offered which is a good sign. if you get the packets of info, generally the higer rate offers are the more risky ones. some can be just debt revolving companies, selling you notes to pay off other prior notes hoping to make it at some point, hopefully for you, or sell more notes later to pay for yours.

the best bet to learn more is go to sumnerharrington, sign up to receive info for one of them and read the info that comes. i used a fake phone number so all they do is send a packet every once in a while of new note offerings.

a lot of real estate firms offer something similar, but it seems offly risky to give your money to a small company hopeful they are not scamming people or will disappear. i just got an offer the other day from Pacific Property Assets for 10+% notes
Anonymous   |     |   Comment #182
banks in metro atlanta myalphabank.com 6 mo.cd 6% 1 yr 5.85% homestead bank 1 yr 5.80% we have 5 banks paying 5.75% for 1yr like security bank. ob
curtis   |     |   Comment #183
AmeriCU Credit Union is offering a $50 sign-up bonus for new customers when you 1) open one of their checking accounts and 2) establish direct deposit.


CAVEAT: The small-print says "Must make minimum required deposit for checking account (if applicable) and establish direct deposit of full paycheck, pension or social security check" (emphasis mine). Not sure how they determine whether you've DD'ed your full paycheck or not.

FIELD OF MEMBERSHIP: From their site:

Persons who work in, live in, attend school in or worship in the following counties in New York State can qualify to experience the credit union advantage!

AmeriCU's field of membership now includes:

* Onondaga County
* Oswego County
* Cayuga County
* Madison County
* Jefferson County
* Lewis County
* Herkimer County
* *Oneida County - *some areas are excluded

Relatives including spouse and their lineal ancestors and descendants, including persons so related by adoption, siblings, step parents, step children, step siblings and household members, as well as organizations located therein are also eligible. Household members are defined as persons living in the same residence and maintaining a single economic unit.
Anonymous   |     |   Comment #184
PenFed came through! 3,4,5 and 7-year CDs at 6.25% APY! https://www.penfed.org/membershipApplication/eligibility/elig06.1.2.asp
Anonymous   |     |   Comment #185
even this bank www.statebank.com has good interest rates. i've account with them for last 5 years. it has branches in NYC, Chicago and CA.
Banking Guy
Banking Guy   |     |   Comment #186
ctgottapee, thanks for the info on the unsecured notes.

Curtis, thanks for the info on AmeriCU Credit Union.

anonymous, thanks for the Atlanta CD rates. Here's my last post on Alpha Bank. People from outside Atlanta may be able to take advantage of their 6% CD.

Anonymous, thanks for the info on statebank.com. Have you opened accounts by mail? I posted on them in March. At that time their rates were very competitive. They don't seem quite as competitive now.
Anonymous   |     |   Comment #187
the cornerstone bank 6% cd (georgia) which was supposed to be good until the end of feb. will only be good until tomorrow, dec. 29. i phoned today.
Roger   |     |   Comment #188
Just a note that I opened a Penfed share account this morning, and they now allow ACH or check as funding options (in addition to credit card). Will be opening a CD next week.
Anonymous   |     |   Comment #189
Paragon Credit Union is now offering a 60 month CD for 6.11/6.25 APY

ctgottapee   |     |   Comment #190
it should be noted, as it is overlooked almost everywhere that some of the best bank cd rates, FDIC insured, are still offered by 'Garden City Bank' in garden city missouri. an post was made about them here a while back.

the 7yr CD is 5.75APR/5.90APY

they just updated rates Dec18 and they held firm.

the only caveat here is that they don't open accounts over the web. basically you call them, ask for Julie, and she'll send you an applicaton and a signature card that must be notarized. return with your check and your set.

very friendly bank to work with. no application, joining fees, or additional accounts required.
Banking Guy
Banking Guy   |     |   Comment #191
Thanks for the Paragon update. I posted on this here.

ctgottapee, thanks for the note on Garden City. Here's the link to that post. I copied your comment into there. Thanks!
Anonymous   |     |   Comment #192
Spokane City no longer offers 60-month CDs at any rate level. Now 24-month maximum. Appears to have been a temporary thing. Thanks!
Anonymous   |     |   Comment #193
EVERBANK has a promotional 3-month 6.01apy money market.

Banking Guy
Banking Guy   |     |   Comment #194
Thanks for the updates on the rates.

Thanks for the info on Everbank's 6.01% promo rate on the MMA. Please refer to this previous post. I would recommend the 6.01% promo for the checking account instead. I had been told that you can't do both.
Steve   |     |   Comment #196
HSBC is has a 5.25% 6 month CD. Must be new money. Minimum $1000
Steve   |     |   Comment #197
Sorry forgot the link for the HSBC CD...

Anonymous   |     |   Comment #198
I heard from a CSR that Patelco is going to come-up with a 12 to 24 month Certificate at 5.64% APY.

They will start offering it on January 4, 2007.

SVG   |     |   Comment #199
I guess I better mention that Patelco is not insured by NCUA. However it is insured by a private firm 'American Share Insurance'.

Anonymous   |     |   Comment #200
The NASA FCU 6-month CD seems to be gone.
Jimbo   |     |   Comment #201
St. Louis area credit union offering 12 month 5.50APY or 5 year 5.55 APY.
Jimbo   |     |   Comment #202
Correction St. Louis area credit union offering 36 month 5.50APY or 5 year 5.55 APY.
Gabby   |     |   Comment #203
Vanguard Prime Money Market Fund (VMMXX) pays 5.11% interest, 5.23%compounded, $3,000 minimum, as of 1/5/07. You can write as many checks as you want, but they must be for at least $250 each.
Sree   |     |   Comment #204
Pacific Service Credit Union, California, SF Bay Aarea only

7% APY/$5000.00 Max/6Months/New Members Only/$5 Sign up bonus/NCUA/Everything can be done online/ I just had 3 accounts (a total of $15K)/Customer Services are quite friendly

Details : http://www.pacificservice.org/ASP/Products/product_2_3.asp
Anonymous   |     |   Comment #205
could you please shed some light on this bank.

Banking Guy
Banking Guy   |     |   Comment #206
Anonymous, Please see my previous post on Millennium Bank.

Sree, thanks for the info on Pacific Service CU. I did a new post on it here.

Gabby, thanks for the info on Vanguard MMF. I need to include them in my bank alternative section of my weekly updates.
Sree   |     |   Comment #207
Hi Banking Guy...
Sree = Male :-) (no problem anyways.. its had to guess the gender off da name..) :-)

Also I opened the 3 pacific Service CDs on 3 different names each of $5000.00. Means one member gets only one CD of $5,000.000
Thanks for posting it real fast..
Anonymous   |     |   Comment #208
Paragon rates are down.
Anonymous   |     |   Comment #209
American Savings Bank Verona, New Jersey has extended their recent offer of 6.01% apy Money Market account until the end of April instead of the end of March. This includes new and existing accounts.
They also now are offering a $25 referal bonus to new accounts who were referred by existing accounts.
carly   |     |   Comment #210
Deseret First Credit Union has a 60 month $500 minimum CD at 5.65% APY. Over $75,000 it's 5.81%. It's open to LDS church members nationwide and "employees of affiliated companies" but I couldn't find who the companies were. Probably local to the branch. www.deseretfirstcu.org
Banking Guy
Banking Guy   |     |   Comment #211
Thanks anonymous on the update on American Savings Bank Verona, New Jersey. I added your comment to my previous post.

Carly, thanks for the info on Deseret. I did a post on it here.

Thanks everyone for your comments. Sorry I can't keep up with all of them. Since this post was getting too long, I started a new one. Please post new deals here. Below is the link:

Finding the Best Bank Rates and Deals #5

Anonymous   |     |   Comment #212
ctgottapee said...

netbank is offering $220 in bonuses for signing up with new accounts if you use the onrebate.com service

SURE! it is a SCAM, this is WHY:

YOUR PERSONAL information is for SALE:

PLENTY about Onrebate.com:

This shows that TigerDirect and Onrebate.com are SAME:

FTC ruling against tigerdirect in 1999 for their deceptive practices, not honoring warranties, bait and switch tactics etc?


FTC ruling and panalties against COMPUSA for the very same Perversions & Peccadillos.

Where to complaint:

File a Complaint with the Florida Attorney General's Consumer Protection Office


File a Complaint with the Miami-Dade County's Consumer Services Department


File a Complaint with the Palm Beach County's Consumer Affairs Division


File a Complaint with your state's Attorney General's Office

File a dispute with your credit card company (if the purchase was made by credit card)

Typically, you have 60 days to file a dispute with your credit card company. The credit card company will then initiate a dispute between you and the merchant's bank.

If all else fails, file a dispute at your local Small Claims Court.

Ask Microsoft not to allow TigerDirect to sell Microsoft products:

Bill Benton
Sales Manager
Fax: 425-936-7329

The brains and pockets keeping your money:

Systemax, Inc., ONREBATE.com AND TigerDirect's parent company

Systemax, Inc.
11 Harbor Park Dr.
Port Washington, NY 11050
Phone: 516-608-7000
Fax: 516-608-7111
ZG   |     |   Comment #213
Here's a way to save some gas by not having to go to a branch to deposit checks. Amplify in Austin Texas lets you deposit checks from your computer (or even a web-enabled cell phone), so you can save the trip to the bank. You enter the info on the check, and the funds are posted to your account immedately - then you just mail the check in within a week. It's called Instant Deposit Online. There's no charge for it. Nice way to save some gas.