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About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.


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Bank Deals Blog: CD Deals

GTE Financial Ups 12-Month Add-On IRA To 3.30% APY
Deal Summary: 12-month Add-On IRA Special, 3.30% APY, $500 minimum deposit, additional deposits limited by personal tax contribution limits.

Availability: Easy membership by joining CU Savers ($10 one-time membership fee); residents of certain Tampa Zip Codes; SEGs.

Florida-based GTE Financial has raised the rate on its 12-month Add-On IRA Special to 3.30% APY. The minimum opening deposit is $500, with no stated balance cap. There’s also a Jumbo version of the 12-month IRA Special, requiring a $100k minimum deposit, but it earns the same 3.30% APY....

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Asian Bank's 18-Month CD Special Earns 2.80% APY
Deal Summary: 18-month CD Special, 2.80% APY, $10k minimum deposit.

Availability: Market area includes southeast Pennsylvania, portions of south New Jersey, portions of New York City, and northern Delaware.

Philadelphia-based Asian Bank recently updated its promotional CD Specials selection, with the 18-month (2.80% APY) now offering the most competitive rate. (I had planned on writing about the 30-month CD Special (3.00% APY), but it was removed from the product line yesterday.) The 18-month CD Special requires $10k minimum opening deposit, with no stated balance cap....

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Keesler Federal Credit Union Has 30-Month Step CD, 3.21% APY Blended
UPDATE 7/18/2019: Easy membership requirement has geographical limitations, which is explained in greater detail in the “Availability” section below.

Deal Summary: 30-month Step and Jumbo Step Certificates, blended APYs of 3.10% APY ($1k) and 3.21% ($100k).

Availability: Limited easy membership requirement; residents of six southeast Mississippi counties and two southeast Louisiana parishes; employees/members of more than 300 SEGs.

About a year ago, Keesler Federal Credit Union (KFCU) caused quite a flurry of interest with a 5.00% APY offered on its 7-month Share Certificate Special. That...

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Empower Federal Credit Union (NY) Offers 2.90% APY On 18-Month CD
Deal Summary: 18-month Share Certificate, 2.90% APY ($100k), 2.85% APY ($50k), 2.80% APY ($25k), 2.75% APY ($10k), 2.70% APY ($5k), 2.65% APY ($2.5k), and 2.60% APY ($500)

Availability: Residents of eight Western and Central New York counties.

It's been nearly seven years since I wrote about Empower Federal Credit Union (Empower). While not known as a prolific producer of competitive CDs, Empower’s good Share Certificate rates established in February, have now become very good rates in July. The most competitive Share Certificate currently in the...

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Hiway Federal Credit Union's 14-Month CD Earns 2.70% APY
Deal Summary: 14-month Certificate, 2.70% APY ($500 min). 60-month Certificate, 3.20% APY ($25k min), 3.10% APY ($10k min), 3.00% APY ($500 min).

Availability: Easy membership requirement

In May, Hiway Federal Credit Union (Hiway FCU) added a 14-month Certificate earning 2.70% APY. At the time, 2.70% APY wasn’t a very impressive rate for a 1-year CD, but as rates have drifted downward, the 14-month Certificate has become competitive. While the majority of Hiway FCU’s Certificates have tiered APYs based on deposit levels of $500, $10k, and $25k, the...

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Thrivent Federal Credit Union Has Competitive 60-Month CD, 3.25% APY
Deal Summary: Share Certificates – 60-month (3.25% APY) and 48-month (3.05% APY), $1k minimum deposit

Availability: Nationwide with religious affiliation

Wisconsin-based Thrivent Federal Credit Union (TFCU) has two very competitive long-term Share Certificates: 60-month (3.25% APY) and 48-month (3.05% APY). The minimum opening deposit for either Share Certificate is $1k, with no stated balance cap.

As stated in the Service Fees brochure, the Early Withdrawal Penalty reads as follows:

Terms of 30 months to 60 months: 365 days’ dividend.

Funding a Share Certificate can be done by ACH, wire transfer,...

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The Federal Savings Bank Offers Top-Rate 5-Year CD, 3.30% APY
Availability: 5-year Promotional CD, 3.30% APY, $10k minimum deposit, new money.

Availability: Nationwide through online application.

As other banks have been cutting their 5-year CD rates, Chicago-based The Federal Savings Bank (TFSB) has been holding steady with a rate that is now near the top for nationally available 5-year CDs. TFSB is offering 3.30% APY on its 5-year Promotional CD. The minimum opening deposit is $10k of new money, which is defined as “funds not currently on deposit with The Federal Savings Bank.”

While the 3.30% APY has been...

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First United (OK/TX) Ups 30-Month CD To 3.05% APY
Deal Summary: Performance CDs – 14-month (2.75% APY) and 30-month (3.05% APY), $50k minimum, new money.

Availability: Market area includes 13 Oklahoma and 16 Texas counties.

About a year ago, I wrote about Oklahoma-based First United’s Performance CDs. First United does not provide any CD term-length or rate information on its website, which makes tracking CD rates on a daily basis problematic. As of yesterday, the 14-month Performance CD earned 2.75% APY, with the 30-month offering 3.05% APY. The minimum opening deposit is $50k of...

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Encompass Credit Union (IN) Offers 24-Month CD, 3.04% APY
Deal Summary: 24-month CD, 3.04% APY, $500 minimum deposit

Availability: Residents of Clinton, Howard, and Tipton Counties in Indiana.

Encompass Credit Union (Encompass CU) is offering 3.04% APY on its 24-, 36-, 48-, and 60-month CDs. The minimum opening deposit is $500, with no maximum balance cap. While these rates have been in place for some time, they’ve become more competitive in the past few months, as the rate climate has been cooling down.

According to CSR, the Early Withdrawal Penalty (EWP) is based on the amount...

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St. Jean's Credit Union (MA) Offers 11-Month CD Special, 2.76% APY
Deal Summary: 11-month CD Special, 2.76% APY, $500 min/$250k max deposit, new money.

Availability: Residents of Essex, Middlesex, and Suffolk Counties, Massachusetts.

St. Jean’s Credit Union (St. Jean’s CU) is currently offering an 11-month CD Special, which earns 2.76% APY. The CD Special can be opened with a $500 minimum deposit and is capped at $250k. New money (defined simply as money not on deposit at St. Jean’s CU) is required

The CD Special is also offered as an IRA (Traditional), earning the same APY with the same...

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