- Emigrant Direct Savings: 4.75% APY (use to be 5.05%) my post
- iGobanking Savings: 5.17% APY (use to be 5.30%) my post
- Flagstar Money Market: 5.10% APY (use to be 5.30%) my post
- Salem Five Direct Checking: 4.70% to 5.10% APY (use to be 5.00% to 5.30%) my post
At least Emigrant Direct's rate cut wasn't as bad as HSBC's cut of 55 basis points. When rates were rising, Emigrant was slow to change rates. Instead of doing lots of little rate hikes, they tended to do a few large rate hikes. Hopefully, this will continue, and we won't see more cuts at Emigrant at least until the next Fed rate cut.
If you have money that you don't have to keep liquid in the next few years, you may want to consider a CD. PenFed has just started offering 6.0% CDs with terms of 3 years and longer (see post).