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Best Bank Account Interest Rates - Summary for July 10, 2018


The odds that the Fed will hike rates two more times this year appear to have gone up slightly from last week. The June jobs report that was released last Friday improved the odds. In June, 213,000 jobs were added which was above economist expectations. However, wage growth was a bit below expectations, and the unemployment rate increased slightly as more people returned to the job market. Overall, the jobs report should be considered good news for savers hoping for two more Fed rate hikes in 2018. According to this MarketWatch article:

The June employment report gives the Federal Reserve a green light to continue to raise interest rates at what’s been shown to be its preferred once-every-three-months pace, economists said Friday.

The minutes from the Fed’s June meeting were released last Thursday. The minutes showed that there was discussion about risks that increasing tariffs could hurt the economy. There was also discussion about the flattening of the yield curve and the risk that an inverted yield curve could lead to a recession. Anything that weakens the economy will give the Fed reason to pause its rate hikes.

The 10-2 spread (the difference between the yields of the 10-year and 2-year Treasury notes) has fallen a bit in the last week. The difference between the 2-year yield (2.59%) and 10-year yield (2.87%) is now only 28 bps (down from 30 bps last week). The drop is due to the long-term yields rising less than the short-term yields.

Treasuries continue to be a competitive alternative to CDs. They become even more competitive when the tax advantages of Treasuries are considered. For more discussion on the pros and cons of Treasuries Notes compared to CDs, please refer to this DA Forum thread and this DA blog article.

The odds of additional Fed rate hikes in 2018 went up some in the last week according to the Fed funds futures. The chance of at least one more rate hike this year still looks solid. Those odds are 94.9%. The odds of at least two rate hikes have risen above 50-50. The odds are now 58.1% (up from 48.5% last week).

The following numbers are based on Daily Treasury Yield Curve Rates and the CME Group FedWatch.

Treasury Yields:

  • 1-month: 1.88% down from 1.91% last week (0.95% a year ago)
  • 6-month: 2.15% up from 2.12% last week (1.13% a year ago)
  • 1-year: 2.36% up from 2.33% last week (1.23% a year ago)
  • 2--year: 2.59% up from 2.53% last week (1.40% a year ago)
  • 5--year: 2.77% up from 2.72% last week (1.93% a year ago)
  • 10-year: 2.87% up from 2.83% last week (2.38% a year ago)
  • 30-year: 2.97% up from 2.96% last week (2.93% a year ago)

Fed funds futures' probabilities of future rate hikes by:

  • Sep 2018 - up by at least 25 bps: 86.8% up from 77.4% last week
  • Dec 2018 - up by at least 50 bps: 58.1% up from 48.5% last week

Savings and Money Market Account Rates

The above graph shows the rate trends of the average savings account rates. These average rates are based on all the rate data that we have collected over the years. This is an interactive graph. You can choose the look-back period (from 3 months to 5 years).

As you can see in the graph, the average savings account rate has finally reached a five-year high. The average is dominated by brick-and-mortar banks and credit unions. Thus, the average is still low compared to internet savings account rates.

Below are the noteworthy savings and money market account rate changes that have occurred in the last two weeks:

  • Salem Five Direct eOne Savings (+20 bps to 2.05% APY up to $1m)
  • Customers Bank Ascent MM Savings (new, 2.03% APY for $25k+)
  • Citizens Access Online Savings (new, 2.00% APY for $5k+)
  • Northpointe Bank Ultimate Savings (-10 bps to 1.95% APY for $25k+)
  • Sallie Mae Bank Money Market (+15 bps to 1.90% APY)
  • Capital One 360 Money Market (+15 bps to 1.75% APY for $10k+)
  • Ally Bank Online Savings (+10 bps to 1.75% APY)
  • Discover Bank Online Savings (+10 bps to 1.75% APY)
  • Barclays Online Savings Account (+10 bps to 1.75% APY)
  • Quorum FCU HighQ Savings (+50 bps to 1.75% APY)
  • Alliant Credit Union Savings (+10 bps to 1.70% APY)
  • HSBC Direct Savings (new, 1.70% APY)

We have a new internet bank. Citizens Access was launched on Monday, and it looks promising that Citizens Access will be a strong competitor for the long term. This is the internet bank of the $122-billion Citizens Bank, N.A., and it appears they have put the resources into the internet bank to maintain competitive savings account and CD rates and to maintain an online platform and customer service that allow customers to easily manage their accounts. The current Online Savings Account rate of 2.00% APY for balances of $5k+ tops our lists for a non-promotional-rate savings account. The bank is emphasizing that it intends to “offer market-leading rates, with no promotions or teasers.” Only time will tell if they are able to accomplish this over the long term. Please see my Citizens Access review for more details.

Another new internet savings account was launched recently. The Pennsylvania-based Customers Bank (which has over $10+ billion in assets) launched the Ascent Money Market Savings Account with a 2.03% APY on balances of $25k+. Instead of creating a new website, Customers Bank just added a special landing page for this online account. Please see my Ascent Money Market Savings review for more details.

We’ve seen several past banks start internet banks that became disappointments. One old example was HSBC and its HSBC Direct. Way back in 2007, HSBC Direct was offering a promotional 6% APY on its Online Savings Account. The Online Savings Account rate remained competitive for a while after 2007, but the rate eventually sunk to very low levels.

HSBC is trying again. They brought back their HSBC Direct with an online savings account. The current rate of 1.70% APY lags the savings account rates of the big internet banks (most are now at 1.75% APY). So there’s little reason to move money into HSBC Direct. However, if they’re serious, perhaps they’ll bring back a competitive promotion that's similar in competitiveness to what they offered in 2007.

The number of savings and money market accounts with yields of 2%+ is growing. Salem Five Direct is the latest existing internet bank to reach this milestone. Its eOne Savings account now earns 2.05% APY for balances up to $1 million. However, this is a promotional rate that’s only intended for new eOne Savings customers. Existing customers have reported success when requesting rate upgrades. Please see my eOne Savings review for more details.

In addition to the standard type of savings and money market accounts, I’m including semi-liquid accounts to the list that offer higher rates. They have more liquidity than most CDs, but they don’t have the liquidity of the standard savings account which allows unlimited deposits and up to six withdrawals (most types) per month. The intent is to provide options for higher rates than standard savings accounts, but with fewer deposit and withdrawal limitations than standard CDs.

I was going to include AgFed Credit Union’s No Penalty CD (2.40% APY). However, this CD special has just ended.

The other special savings account is still available. It’s the High Rate Quarterly Account from the easy-membership CommunityWide Federal Credit Union. This account has a 2.10% APY for balances of $500 and above. The special nature of this account is that penalty-free withdrawals are only allowed for the first five days of each calendar quarter. Any other withdrawals have a penalty of 30 days of interest on the amount withdrawn. Deposits can be made at anytime. Being able to add deposits at any time is an advantage of this compared to no-penalty CDs. However, unlike no-penalty CDs, there’s no guarantee of the rate remaining competitive. The High Rate Quarterly account has a long history of low rates before the recent rate hike. The odds of this account rate remaining ahead of the top internet savings account rates over the long run is questionable. Please see my High Rate Quarterly review for more details.

Not all banks raised their savings account rates. Northpointe Bank ended its offer of 2.05% APY guaranteed for one year. The rate dropped to 1.95% APY.

With savings and money market accounts, you never know how long a top rate will last. Even if it’s not a promotional rate, the bank is always free to lower the rate to a non-competitive level. The only exception is if there’s a rate guarantee period, but those guarantee periods eventually end. One thing to look at is the account rate history. This certainly doesn’t guarantee long-term competitiveness, but it can show if the bank has been serious about being competitive for the long term.

Sallie Mae Bank’s Money Market account has remained competitive since January 2017 when it first broke 1% APY. In the last year, the rate has steadily increased and has remained in the high end for internet banks. Last week’s rate hike kept the account near the top. The account rate increased 15 bps to 1.90% APY for all balances.

Most savings account rates of the large internet banks have reached 1.75% APY. The latest ones to reach this rate include Capital One 360 Money Market, and the online savings accounts of Ally, Barclays and Discover.

Competition from Money Market Funds

Another option for your cash instead of savings accounts and money market accounts are money market funds from brokerages. These don’t have FDIC coverage, but they can be reasonable alternatives to deposit accounts. Back when the Fed was holding rates near zero, money market funds had yields of around 0.01%. Keeping your cash at internet banks made a lot more sense back then. Now, it’s not so clear. Money market fund yields have been steadily rising as the Fed has been hiking rates.

Vanguard Prime Money Market Fund SEC yield continues to be over 2%. It’s now at 2.04%. Fidelity Money Market Fund isn’t far behind with a 7-day yield of 1.85%.

Allan Roth has a review at AARP of using money market funds to replace savings accounts. He suggests using funds such as Vanguard Federal Money Market and Vanguard Treasury Money Market yield instead of the Vanguard Prime Money Market Fund. The yields are slightly lower, but they are a little safer due to recent regulation changes. Treasury money market funds have an additional advantage of being exempt from state income taxes.

Municipal money market funds have the advantage of being exempt from federal income tax, but their yields continue to be quite a bit lower than the other money market funds.

Reward Checking Accounts

There continues to be little change to my list of nationally available reward checking accounts. In the last two weeks, none of the nationally-available reward checking accounts had any changes.

To find the highest reward checking rates and balance caps in your state or nationwide, please refer to our reward checking rate table. If you're new to reward checking, please refer to my blog post, Overview of Reward Checking and Our Reward Checking Table.

Certificate of Deposit Rates

I’m now publishing my CD survey as a separate post. Please refer to my survey of the best CD rates. This recap will focus on banking news of the week and liquid accounts.

CD Deals: I just wanted to include this reminder of a few noteworthy CD deals that are available.

As I mentioned above, the AgFed Credit Union 30-month No Penalty CD offer just ended. With a 2.40% APY, this no-penalty CD was an exceptional deal which is why the deal lasted only nine days.

The list of CDs with terms around 3 years with 3%+ APY has been growing. We now have eight CDs with 3% APY. The latest one is the 41-month CD special at Veridian Credit Union. This has a 3.00% APY for a $1k minimum deposit and a 3.10% APY for a $100k minimum.

The two best short-term CD deals are currently the 15-month CD at MainStreet Bank (2.80% APY) and the 9-month CD at Andrews FCU (2.75% APY).

For 5-year CDs, we now have five easy-membership credit unions offering APYs in the range of 3.25% to 3.30%, and just recently, KS StateBank has raised its 5-year internet CD rate to 3.25% APY.

Rates as of July 10, 2018

Checking/Savings/Money Market Accounts:

  • Noteworthy Accounts Available Nationwide:
CommunityWide Federal Credit Union2.10% (penalty-free withdrawals first 5 days of each calendar quarter)High Rate Quarterly Funds Account Account review
Salem Five Direct2.05% eOne Savings, for new customers only Account review
Customers Bank2.03% ($25k)Ascent Money Market Savings Account review
Virtual Bank2.01% (1 year rate guarantee)eMoney Market - Account review
Citizens Access2.00%Online Savings Account - Account review
All America Bank2.00% (up to $50k), 0.50% ($50k+)Mega Money Market Account - Account review
Redneck Bank2.00% (up to $50k), 0.50% ($50k+)Mega Money Market Account
Sallie Mae Bank1.90%Money Market Account - Account review
CIBC USA (formerly The Palladin PrivateBank)1.90%Agility Savings Account - Account review
PurePoint Financial1.90% ($10k min)Online Savings - Account review
Northpointe Bank1.95% ($25k), 1.12% (below $25k and $1m+)Ultimate Savings Account review
Incredible Bank1.88% ($25k+), 1.21% ($2.5k), IncredibleBank Savings - Account review
Radius Bank1.86% ($2.5k min)Radius High-Yield Savings - Account review
CIT Bank1.85%Money Market ($100 min) - Account review
Popular Direct1.85% ($5k min)Popular Direct Plus Savings - Account review
MutualOne Bank1.81% ($250k max)Online Statement Savings - Account review
SFGI Direct1.81%SGFI Direct Savings Account - Account review
DollarSavingsDirect1.80% (no min)Dollar Savings Account - Account review
Marcus by Goldman Sachs1.80%High-Yield Online Savings Account - Account review
EBSB Direct1.80% ($10k+), 0.80% ($2m+), 0.50% ($10+)Money Market Special 3 - Account review
NASB1.77% ($50k+), 1.66% ($25k+), 1.56% ($0.01+)MMA Special Online Only - Account review
Ally Bank1.75%Online Savings - Account review
Synchrony Bank1.75%High Yield Savings - Account review
Barclays1.75%Online Savings - Account review
Discover Bank1.75% (no min) Online Savings - Account review
American Express Bank1.75%High Yield Savings - Account review
West End Bank1.75%Online Savings
FNBO Direct1.75%Online Savings
Salem Five1.75% ($1m max)Gold Star Money Market - Account review
Sallie Mae Bank1.75%High Yield Savings - Account review
Quorum Federal Credit Union1.75% HighQ Savings
Capital One1.75% ($10k+), 0.85% (up to $10k)360 Money Market - Account review
MyBankingDirect1.75% ($25k+), 1.50% ($5k+), 0.25% (less than $5k) Money Market
HSBC Direct1.70%HSBC Direct Savings
Alliant Credit Union1.70% ($100 min)High-Rate Savings - Account review
ableBanking1.70% ($250 min)Money Market Savings - Account review
Live Oak Bank1.70% ($5 million max) Savings Account - Account review
BBVA Compass1.70% ($10k min, 12mo rate guarantee)ClearChoice MMA Promo - Account review
BankPurely1.70% ($25k min) PurelyMoneyMarket - Account review
iGObanking.com1.70% ($25k min) MMA, New accounts and new money only, Account review
Community Bank of Pleasant Hill1.66% Premier Money Management Account
Community Bank of Raymore1.66% Premier Money Management Account
First Internet Bank1.66% ($250k+) 1.36% (up to $250k)Money Market Savings
Colorado Federal Savings Bank1.65% ($50k+) Premier Savings (New customers) - Account review
Discover Bank1.65% ($100k min), 1.60% ($2.5k) MMA - Account review
Franklin Synergy Bank1.63% ($500k), 1.50% ($250k), 1.38% ($100k) Synergy Money Market
Amalgamated Bank1.60%Online Savings - Account review
MemoryBank1.60% (up to $250k) EarnMore Interest Checking - Account review
UFB Direct1.60% ($5k min)High Yield Money Market - Account review
TIAA Bank1.60% (1yr intro rate) 1.50% ($100k+) ongoing rateYield Pledge Money Market - Account review
Self-Help Federal Credit Union1.58% ($500) Money Market - Account review
CIT Bank1.55%Premier High Yield Savings - Account review
SmartyPig1.55% SmartyPig Savings - Account review
Nationwide Bank1.55% ($10k+), 1.15% APY (up to $10k)Money Market - Account review
nbkc Bank1.51% ($1m max) Personal Money Market Savings
Northern Bank Direct1.51% ($250k max) Money Market - Account review
My eBanc1.50%Super Saver - Account review
Bethpage Federal Credit Union1.50% ($500 min)Money Market
Spectrum Credit Union1.50% ($2.5k+), 0.45% ($1+) MarketEdge Money Market
Northpointe Bank1.50% ($25k-$1m, guaranteed for 1 year) Ultimate Money Market - Account review
UmbrellaBank1.50% ($25k min), 1.40% ($1k)Money Market
INOVA Federal Credit Union1.50% ($100k min)Platinum Money Market Savings
Pacific National Bank1.45% Money Market Deposit Account - Account review
McGraw-Hill Federal Credit Union1.45% ($100) S3 Prime Savings - Account review
Dime Savings Bank1.35% Dime Direct Money Market, new money - Account review
United Bank (MA)1.35% Prime Money Market Special (in-branch only), Not available in all states, Account review
Signal Financial Credit Union1.35% ($25k+, enrollment in Premium Bundle) Premium Money Market - Account review
Nationwide Bank1.30%Online Savings - Account review
Bank of Internet USA (BofI)1.30% Smart Savings
BankPurely1.30% ($1 min) SavingPurely - Account review
UFB Direct1.30% ($25k+), 0.20% ($100) Premium Savings - Account review
McGraw-Hill Federal Credit Union1.30% ($75k), 1.10% ($20k), 1.00% ($5k) (guaranteed through 12/31/18)Ascend Account - Account review

Reward Checking Accounts:

  • Noteworthy Accounts Available Nationwide:
Consumers Credit Union4.59% (up to $20k) Rewards Checking - debit card and $1k credit card requirements
La Capitol Federal Credit Union4.25% (up to $3k), 2.00% ($3k-10k), 0.10% ($10k+)Choice Checking
Consumers Credit Union3.59% (up to $15k)Rewards Checking - debit card and credit card requirements
One American Bank3.50% (up to $10k), 0.25% ($10k+)Kasasa Cash - Account review
Heritage Bank3.33% (up to $25k), 0.15% ($25k+)eCentive Account
Consumers Credit Union3.09% (up to $10k)Rewards Checking - debit card with NO credit card requirements
Market USA Federal Credit Union3.01% (up to $15k), 0.05% ($15k+)VIP Checking Platinum Tier - Account review
Evansville Teachers Federal Credit Union3.00% (up to $20k), 0.00% ($20k+)Vertical Dividend Checking - Account review
MainStreet Bank3.00% (up to $15k), 0.25% ($15k+)Kasasa Cash - Account review
Lake Michigan Credit Union3.00% (up to $15k), 0.00% ($15k+)Max Checking
INOVA Federal Credit Union3.00% (up to $15k), 0.07% ($15k+)Shield Checking - Account review
Signature Federal Credit Union3.00% (up to $15k), 0.10% ($15k+)Choice Checking
USE Federal Credit Union3.00% (up to $10k), 0.25% ($10k+)Kasasa Cash
Great Lakes Credit Union3.00% (up to $10k), 0.20% ($10k+)Ultimate Checking
Partner Colorado Credit Union3.00% (up to $10k), 0.50% ($10k+)High Interest Checking
Hanscom Federal Credit Union2.50% ($15k min), 0.30% ($15k+)Kasasa Cash Checking - Account review
Industrial Bank2.50% (up to $15k), 0.25% ($25k+)Kasasa Cash
All America Bank2.50% (up to $10k), 0.50% ($10k+)Ultimate Rewards Checking
Redneck Bank2.50% (up to $10k), 0.50% ($10k+)Redneck Rewards Checking
New Buffalo Savings Bank2.27% (up to $15k), 0.2497% ($15k+)Kasasa Cash - Account review
Bellco Credit Union2.25% (up to $25k), 0.25% ($25k+)Boost Interest Checking - Account review
Main Street Bank2.25% (up to $25k), 0.25% ($25k+)Kasasa Cash - Account review
Altra Federal Credit Union2.25% (up to $15k), 0.50% ($15k+)A+ Checking
Coastal Credit Union2.25% (up to $10k), 0.10% ($10k+) Go Green Checking - Account review that includes companion Go Green MMA
Georgia Bank Company2.15% (up to $25k), 0.40% ($25k+)Kasasa Cash - Account review
TruStone Financial Credit Union2.02% (up to $20k), 0.10% ($20k+)TruRate Checking - Account review
BankFirst2.02% (up to $10k), 0.15% ($10k+)Kasasa Cash
Finex2.018% (up to $25k), 0.20% ($25k+)Axcess Rewards Checking, Premier Account (formerly First New England Federal Credit Union)
XCEL Federal Credit Union2.01% (up to $25k), 0.03% ($25k+)Kasasa Cash Checking
Bay State Savings Bank2.01% (up to $20k), 0.25% ($20k+)Kasasa Cash - Account review
Legence Bank2.01% (up to $10k), 0.25% ($10k+)Kasasa Cash
Campus Federal2.01% (up to $10k), 0.05% ($10k+)Lagniappe Checking
Hawaii Pacific Federal Credit Union2.00% (up to $25k), 0.25% ($25k+)Kasasa Cash Checking
5Star Bank2.00% (up to $25k), 0.15% ($25k+)Kasasa Cash Checking Account review
Country Bank2.00% (up to $20k), 0.25% ($20k+)Kasasa Cash Checking Account review
Elements Financial2.00% (up to $20k), 0.10% ($20k+)High Interest Checking - Account review
Blue Federal Credit Union2.00% (up to $15k), 0.25% ($15k+)Extreme Checking (up to 4% w/account relationships) - Account review
Northwest Federal Credit Union2.00% ($15k min)Kasasa Cash - Account review
United Educators Credit Union2.00% (up to $10k), 0.25% ($10k+)Kasasa Cash
KS StateBank1.95% (up to $25k), 0.50% ($25k+)Check PLUS - Account review
Connexus Credit Union1.75% (up to $25k), 0.25% ($25k+)Xtraordinary Checking
First Tech Federal Credit Union1.58% (up to $10k), 0.16% ($10k+)Dividend Rewards Checking
Superior Choice Credit Union1.50% (up to $30k)AMP Checking
Marine Federal Credit Union1.26% (up to $10k), 0.05% ($10k+)Kasasa Cash Checking
Bank of Internet USA1.25% (up to $150k), 0.00% ($150k+)Rewards Checking

Certificates of Deposit:

Bank Account Alternatives - NOT FDIC Insured

GM Financial Right Notes2.25% ($50k+), 2.10% ($15k+), 2.00% ($500+)
Duke Energy PremierNotes2.15% ($50k+), 2.00% ($10k+), 1.95% (less than $10k)Duke Energy PremierNotes review
Ford Interest Advantage2.15% ($50k+), 2.00% ($15k+), $1.95 (less than $15k)Ford Interest Advantage review
Vanguard Prime Money Market Fund2.04% 7-day yield
Fidelity Money Market Fund1.85% 7-day yield
Ally Financial Demand Notes1.75% ($50k+), 1.60% ($15k+), 1.40% (less than $15k) (
Vanguard Municipal Money Market Fund1.20% 7-day yield
Fidelity Municipal Money Market Fund1.15% 7-day yield

Removed, Rates Too Low

M.Y. Safra Bank1.26%Direct Online Money Market
Hanscom Federal Credit Union1.25% ($25k min)Higher Yield Savings
INOVA Federal Credit Union1.25% ($50k min)Gold Money Market Savings
Related Pages: savings accounts, money market accounts, reward checking accounts, 5-year CD rates, nationwide deals, Internet banks
deplorable 1
deplorable 1   |     |   Comment #1
Nice to see a few more players added to the 2% club while I was away. Looking at the top 10 banks it seems that all these guys come and go while All America/Redneck still remain at or near the top as the years go by. Northpointe just cut their rate which is puzzling as rates are rising. I wonder If I can join Andrews as that 9 month 2.75% CD looks like the sweet spot for me.
TheBombingRange   |     |   Comment #2
Anybody can join Andrews for free, register for the American Consumer Council with the code "consumer" or "Andrews" for a free membership. The Andrews application asks for your membership number, which is emailed to you from ACC.
Ann   |     |   Comment #3
And if you're into chasing CDs, you're probably already an ACC member, as it's a way into a number of other CUs.
deplorable 1
deplorable 1   |     |   Comment #5
I think I need to hop on this. So far I have been able to avoid joining all these organizations while opening up multiple credit unions with one time special deals for free.
RJM   |     |   Comment #7
I opened mine today and they said the deal was supposed to run thru Sept 30th. But he also said if they ended it sooner, they would probably take care of me anyway.
deplorable 1
deplorable 1   |     |   Comment #8
Thanks for the info RJM! I'm definitely going to do this now.
RJM   |     |   Comment #6
Ann, I just joined ACC, what other CUs am I now able to join for free and are there any deals right now?

Assuming I am approved at Andrews, I will be funding it soon.
Ann   |     |   Comment #24
@RJM From a currently-hidden list on the American Consumer Council website:

ABCO Federal Credit Union
Acclaim Federal Credit Union
American Federal Credit Union
Andrews Federal Credit Union
ARC Federal Credit Union
Aspire Federal Credit Union
Bourns Employees Federal Credit Union
California Coast Credit Union (formerly First Future Credit Union)
Campus Federal Credit Union
CarePoint Federal Credit Union
Carter Federal Credit Union
Endura Financial Federal Credit Union
Financial Resources Federal Credit Union
First California Federal Credit Union
First Commonwealth Federal Credit Union
Fort Knox Federal Credit Union
Fresno County Federal Credit Union
Garden Savings Federal Credit Union
Garden State Federal Credit Union
GNO Federal Credit Union
Harbor Area Postal Employees Federal Credit Union
Indiana State University Federal Credit Union
JSTC Employees Federal Credit Union
Kinecta Federal Credit Union
La Loma Federal Credit Union
Lafayette Federal Credit Union
Logix (Formerly Lockheed FCU)
Maine Savings Federal Credit Union
Mountain America Credit Union
NRL Federal Credit Union
NuVision Federal Credit Union
PARDA Federal Credit Union
Pinnacle Federal Credit Union
Princeton Federal Credit Union
Police and Fire Federal Credit Union
Quorum Federal Credit Union
Randolph-Brooks Federal Credit Union
Scient Federal Credit Union (Formerly Ledge Light FCU)
Securityplus Federal Credit Union
State Department Federal Credit Union
Tobyhanna Federal Credit Union
United Federal Credit Union
University of Kentucky Federal Credit Union
UniWyo Federal Credit Union
USAlliance Federal Credit Union
U.S. Postal Service Federal Credit Union
XCEL Federal Credit Union

There may be others too if they haven't been keeping that list updated.
Ann   |     |   Comment #25
I don't know if this reply was too long or something, but my first attempt didn't publish, so I'm trying again in 2 parts...

@RJM From a currently-hidden list on the American Consumer Council website:

ABCO Federal Credit Union
Acclaim Federal Credit Union
American Federal Credit Union
Andrews Federal Credit Union
ARC Federal Credit Union
Aspire Federal Credit Union
Bourns Employees Federal Credit Union
California Coast Credit Union (formerly First Future Credit Union)
Campus Federal Credit Union
CarePoint Federal Credit Union
Carter Federal Credit Union
Endura Financial Federal Credit Union
Financial Resources Federal Credit Union
First California Federal Credit Union
First Commonwealth Federal Credit Union
Fort Knox Federal Credit Union
Fresno County Federal Credit Union
Garden Savings Federal Credit Union
Garden State Federal Credit Union
GNO Federal Credit Union
Harbor Area Postal Employees Federal Credit Union
Ann   |     |   Comment #26
Oh darn, NOW my first attempt appears... I won't re-post the second half, then, lol.
anonymous   |     |   Comment #4
Ken, will there be a review forthcoming for the new HSBC Direct account? I'm interested how it compares to the old HSBC Direct.

I still have the old HSBC Direct Online Savings account from approx. 2006, which has since been renamed to HSBC Online MMKT Savings account. I recently chatted with a CSR if my account will earn the new 1.70% rate or if it can be converted to the new account. Answer was no, and I'd have to apply for the new account.

I think we really need to appreciate institutions that make their pre-2009 recession era accounts competitive again, like for example FNBO Direct. It shows that they value their existing long-term customers.
deplorable 1
deplorable 1   |     |   Comment #9
Citibank has a new $200 bonus with no direct deposit requirement for depositing $5,000 and only a $1,500 requirement to keep the account fee free. Here is the link:
This works out to a 24% 60 day yield! Slightly less due to lost opportunity cost of keeping $1,500 in the account until the bonus posts within 90 days but still a very good ROI that rivals the stock market.
decades   |     |   Comment #10
Then do you close the account after 60 days?
deplorable 1
deplorable 1   |     |   Comment #11
No you close the account only after the bonus posts. The 60 days is how long you need to keep the $5,000 in there. Then you drop it to only $1,500 to keep the account fee free while waiting for the bonus to post. My experience is that the bonus posts in about 30 days even though they say within 90 days. Very little lost opportunity cost with this deal.
111   |     |   Comment #14
1) Aside from the bonus, is there an "early closing fee" for the account itself? Some banks charge these even as long as 6 months after account opening.
2) I wonder if there is a hard credit pull? It would seem uncalled for, but sometimes banks do strange things.
deplorable 1
deplorable 1   |     |   Comment #15
@111: Soft pull on credit and no early closing fee. I have done 2 of these in the last 2 years and I can confirm. Also reported as such on DoC:
So no need to keep the account open for 6 months just until the bonus posts. These are also churnable every 180 days(6 months) I believe. You can also do more than one per household.
Milty   |     |   Comment #18
Good find (if only Citi would allow a larger principle, eh) . . . keep posting these opportunities, please. Thanks!
Milty   |     |   Comment #19
Also, it appears for those 62 and over that you would not necessarily need to maintain a balance of at least $1500 after the 1st 60 days in order to avoid an account fee.
deplorable 1
deplorable 1   |     |   Comment #21
Good catch! I keep forgetting I'm a youngster on here. Yes it looks like the monthly maintenance fee is waived as long as the primary account owner is 62 or older. That makes this basically $0 lost opportunity cost.
ichaelm   |     |   Comment #12
Ken, I've sent you this same message several times in the past, it's always a pleasure to send it, and hopefully I'll have reason to continue to do so. The message is this: since interest rates have continued to increase, maybe you should raise the minimum rate required in order to make your list of the highest paying savings accounts. Maybe raise it to 1.70% or 1.75% this time? I can't imagine any of your readers opening an account which pays anything less than that.
anonymous   |     |   Comment #13
I think it's good that the list includes lower rate accounts. Maybe an existing banking relationship or the availability of local branches may be compelling for someone to consider, say, a 1.50% rate. It's also interesting to track how some banks that were leaders in the past later fall away behind.

Just to put it in perspective, these are the 70 or so nationally available accounts with the highest interest rates ... among 10,000+ similar accounts. These all deserve a spot on the list.
DCGuy   |     |   Comment #16
It would be nice to have information similar to stock historical price websites. On those sites, you can see the stock price history from decades ago as well as stocks that no longer exist. It would require keeping records for a long time, but it helped me in calculating cost basis on stocks that I bought years ago.
volunteers?   |     |   Comment #17
credit union mergers, acquisitions ect for that type info would be hellish for a web manager
Curious   |     |   Comment #20
I would appreciate your comments on rate differential between IRA savings/mm accounts and non-ira accounts at the same instituitions. This does not appear to make sense.
deplorable 1
deplorable 1   |     |   Comment #23
Many institutions offer a higher rate for IRA deposits most likely to attract a particular type of customer. The older crowd with lots of cash who is more likely to remain with them as a long term customer would be my guess. Folks like me will change institutions at the drop of a hat when a better interest rate comes along ; ).
deplorable 1
deplorable 1   |     |   Comment #22
Bank5Connect has a online savings account that pays a competitive 2.05% APY with no balance cap. There does not appear to be a rate guarantee which may indicate that this is NOT a teaser rate and they intend to remain competitive with their rate. This is a good option for those who missed the Northern 2.26% savings deal.
deplorable 1
deplorable 1   |     |   Comment #27
Judging from Powell's testimony before congress today it looks like we should be getting 2 more rate hikes this year and GDP should come in at around 4% for the second half of the year. This bodes well for further interest rate hikes on savings and CD's. While watching this I could not believe the inappropriate questions from the minority(D) members of the Senate banking committee who seem to be much more concerned with political grandstanding rather than seeking information about the economy. They were asking him about the opioid "crisis", why blacks and Hispanics make less money than whites and Trump's trade policies! Basically hammering him on anything and everything that is completely out of Powell's control! These are the very same folks who caused the last housing and financial crisis by trying to give everyone a house and home loan! Sorry just had to vent.
Luvcd   |     |   Comment #28
Soooooooooooo soon "you" forget who the president was in the last downturn, caused the GM bailout (that should sound familiar to some), etc. Otherwise a good report on real facts!
deplorable 1
deplorable 1   |     |   Comment #29
No but the folks on the senate banking committee were more responsible for what happened to the housing market than Bush as he warned these guys multiple times about bad loans prior to the housing and financial crisis. So who is forgetting what? It is very over simplistic to blame the current sitting president for all the economic woes that a country faces. Of course Obama did that for 8 years so it's not surprising that some would follow suit.

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