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Black Friday Deposit Account Specials

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Black Friday Deposit Account Specials

Thanksgiving is almost here, and on behalf of DA’s staff, I would like to take this opportunity to thank all of you for your support this year. May you all have a Happy Thanksgiving with your family and friends.

Right after Thanksgiving comes Black Friday which has traditionally been regarded as the start of the Christmas shopping season. Stores open early (and in many cases before the end of Thanksgiving) with hot Black Friday sales. It’s not just stores that offer Black Friday sales.

Banks and credit unions have jumped on the bandwagon with their own Black Friday sales. Several years ago ING Direct used to offer Black Friday specials every year. After Capital One acquired ING Direct, the new ING Direct (Capital One 360) continued with these Black Friday specials, but that ended last year. Even though Capital One 360 has ended its Black Friday specials, other banks and credit unions have come out with their own deals.

Below is a list of the the Black Friday deposit account specials. If you have seen others, please leave a comment.

  • 3.01% APY 7-yr and 3.01% APY 3-mo CD specials at Andrews Federal Credit Union. There’s also a 1.81% APY 18-month CD special. These are probably the best Black Friday specials this year. Details of the specials are listed in the post and in the comments of this blog post and this forum post.
  • 3.00% APY 24-month CD at Public Service Credit Union in Colorado. Two downsides with this deal are a maximum deposit of $10,000 and a limited membership (primarily limited to Colorado residents). Details of this special are listed in this blog post.
  • 10.00% APY 3-month CD at Service Credit Union. Yes, that’s a 10% CD. However, there’s a maximum deposit of only $1,000. That limits the interest that you can earn to only $25. Nevertheless, it’s easy money if you’re a member or if you can qualify for membership. Details of this special are listed in this forum post.
  • $200 Checking Account Bonus at HomeStreet Bank. Direct deposit is required. The checking account must be opened at one of HomeStreet Bank branches on the West Coast. Details of this special are listed in this forum post.

If you know of any other banks or credit unions offering Black Friday specials, please leave a comment. And for any deposit account special that you come across in the future, please consider posting the special in the DA Bank Promotions forum.

Hopefully, these Black Friday specials are just the start of many more deposit account deals as the holiday season begins and as we enter into a better interest rate environment (let’s hope).

Comments
Anonymous
Anonymous   |     |   Comment #1
Thanks, Ken. You do a wonderful job with your website.
Anonymous
Anonymous   |     |   Comment #2
Thank you, Ken. Happy Thanksgiving!
Anonymous
Anonymous   |     |   Comment #3
Ken  Like this site.  Don't like the politics but that's not you
Anonymous
Anonymous   |     |   Comment #18
I agree. The politics are really a turnoff. We need a filter of some sorts.
Anonymous
Anonymous   |     |   Comment #23
Well politics kept interest rates @0% for 8 years straight. It's not Ken's fault. You don't like to discuss politics because you most likely voted for Obama twice and don't like to be reminded that Obama kept rates at 0% for 8 years. Sorry but the truth hurts.
Anonymous
Anonymous   |     |   Comment #25
Economic reality of not having another crash created the environment leading to low rates, not politics.  One should realize there are financial/economic adjustments throughout history and need to plan for the ups and downs.  I didn't lose a penny in the 2008+ timeframe and it was very simple.  Save, save and save more, i.e. do what you can control given the realities of "adjustments" from time to time!
Anonymous
Anonymous   |     |   Comment #28
Oh so the million I saved that was earning $60,000 a year in FDIC insured income prior to Obama wasn't enough. I guess after sacrificing and saving every penny I could for my entire life I was supposed to pull another couple of million out of my rear in anticipation of 0% interest rates for 8 years straight. If you didn't lose a penny it must be because you had no savings or you had 100% of your money in the stock market and got lucky. When you are retired risking all of your money in the stock market is a very foolish thing to do. You obviously were duped by the king of lies into thinking the last 8 years of a stagnant economy was Bush's fault. As a student of history I can tell you that interest rates have never been this low for this long ever and with unemployment(supposedly) at all time lows rates should be @ 6% by now which tells me that someone is lying about the job numbers and the economy.
Anonymous
Anonymous   |     |   Comment #4
Happy Thanksgiving to Ken, his family and all the DA readers.
Anonymous
Anonymous   |     |   Comment #5
Just a heads up for those considering the Andrews (non-IRA) 84-month 3.01% CD:
On the Andrews CD, you have to choose at the time you open the CD if you want ALL dividends deposited to your Andrews Savings or Checking account each quarter (thus the CD will never grow more than your initial deposit amount) OR to lock away all dividends forever for the length of the CD, until maturity date. You never have access to the earned dividends available penalty-free later on if you need them, unlike other institutions like NavyFed or NASA or NWFCU. It's Either/Or with Andrews. For me that was enough not to open up the account here, especially on a 7year term.
Anonymous
Anonymous   |     |   Comment #10
Many CDs require you to make the decision up front. You could also put some money in this CD that you would not require to draw intrest and let it compound. You are not happy with this one term and you read the deposit agreement. Good that you noted this so others who require the flexibility like you do find another CD that requires it. Not all terms with DA's are good for others just like all investment choices.
Anonymous
Anonymous   |     |   Comment #6
I'd be really happy this Thanksgiving if someone would bring back a 3%+ Add-On CD!
But thanks for another great year, Ken!
readerinCA
readerinCA (anonymous)   |     |   Comment #8
Very thankful for you, Ken, and your website. You make a difference in many people's lives, including mine.
RJM
RJM   |     |   Comment #9
Capital One wont be happy until they kill off the ghost of ING Direct.

They have lost 99.9% of my deposits. Not sure why I maintain the tiny little accounts. Perhaps hoping for another special. I might as well draw a line in the sand. 12/31/2017, if they don't have a deal by then, I'm GONE for good.  I wonder if I should go down to .01 in each account ?
CapitalClimate
CapitalClimate   |     |   Comment #15
Be a sport; go down to $1. :) That's what I did when M&T gutted Wilmington Trust.
Anonymous
Anonymous   |     |   Comment #20
Move to Barclays.  Fairly easy to do, and 1.00% interest, instead of the 0.75 you're getting now.  Reward yourself!
RJM
RJM   |     |   Comment #21
#20, I already have two accounts that pay 1%. Ally and a local credit union.

I have a total of $60 at CapOne. $10 in the checking and $50 in the savings.

So I'm not saving or gaining much by moving the $60.

I should probably reduce them both to $1 or 0.01 before year end.

One feature that is really cool about their overdraft checking is, I can overdraft but then as long as I transfer funds in the same day, I don't pay any interest. Even though it takes a few days for the transfer to finish.

But, I rarely use them anymore so it makes little sense to even keep the $60 in there.
Anonymous
Anonymous   |     |   Comment #11
Happy Thanksgiving, to you and your family Ken....
Tom
Tom (anonymous)   |     |   Comment #12
Happy Thanksgiving to you and your family Ken
Shar
Shar   |     |   Comment #13
Thanks for helping me find good homes for my money, Ken.  Hope you have a lovely Thanksgiving.
Anonymous
Anonymous   |     |   Comment #14
GiftsforBanking.com - 1.45% on a 2-year CD plus you get a gift package which actually does appear to be decent.
Anonymous
Anonymous   |     |   Comment #16
Just remember according to their site you must pay taxes for the value of the item plus shipping and handling and they even say tax. Sometimes they value the gifr at MSRP.
ricsue
ricsue   |     |   Comment #17
Thank you Ken for great info all year long, as others have noted, this site has helped us thru the years, find deals we would not otherwise known about. Just today, received notice that Andrews approved my account, it has been a slow process, and their phone line hold times are long...it's worth the trouble, seems to be the best deal around. We had maturity from Velocity CU and IGO Banking, and both were simple to close out and receive funds, both of which we learned about 5 years ago from this site!

Happy Holidays to you,
Anonymous
Anonymous   |     |   Comment #19
For Anonymous #5,  I just got off the phone with Andrews Fed. CU.  Asked, if I could request quarterly
dividends from the 84month/3.01% CD, anytime during the life of the CD. 
CSR, said yes, no EWP penality for requesting quarterly dividends. Can be done anytime. Does not have to be done when you open the CD.
Anyone else receive this same information?  Anonymous #5, Have you verified what you were told?
Anonymous
Anonymous   |     |   Comment #22
Just spoke to a representative at Andrews and she told me the certificate specials will now be in effect until the end of the year.  Originally they were expiring Nov 30 but due to popularity have been extended.
Anonymous
Anonymous   |     |   Comment #24
How about a 3% 3 year CD? I wouldn't lock up anything for longer than that in a rising interest rate environment. Things may be looking much different in a year or two.
RJM
RJM   |     |   Comment #26
You could have and many did say that 5 years ago.
But I agree rates will rise in the near term. But how much is the question.
The last thing Trump wants or needs is the market to tank because rates went up too fast.
Not sure exactly how much say he has in it. But he has some.

I own SO which got over $54 not long ago. I sold some at $53.50 because it felt toppy.  Then trump got elected and it fell and I bought more at $47. Healthy dividend, increasing every year and pays far more than 3%. (4.75% or thereabouts)
This was the last stock I intended to trade, it just happened. But I retained a strong 70% of my position the entire time.
If it were to fall a few more points, I would buy even more because at 5%, it would be irresistible.
No guarantee with any stock and it lost 28% in the last market decline. But I can live with the long term risk/reward.
Of course, Im probably younger than many here. 54.
Anonymous
Anonymous   |     |   Comment #27
I have money in many monthly paying dividend stocks like MORL, ARR, PBA etc. averaging around 8% which is just one more reason I don't like to tie up too much cash in longer term CD's particularly with interest rates this low. If the stock prices drop I add to my various positions to dollar cost average down at lower prices. I think 5 year CD's will be averaging 3% or better in a year and maybe even 4% on a special deal. Trump will be causing inflation to rise and the FED will need to bump rates not only in Dec. but in 2017 as well. Inflation is actually a good thing when you can beat it with interest like I have in every year that Obama was not in office.