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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

USALLIANCE Financial Adds Two New Certificate Specials
Deal Summary: 18-month Certificate Special, 1.15% APY; 36-month Certificate Special, 1.25% APY; $500 minimum deposit.

Availability: Easy membership requirement.

USALLIANCE Financial (USALLIANCE) has added two limited-time Certificate Specials to its product line just in time for Cyber Monday. As DA reader, zz, pointed out in a Forum post, the new 18-month Certificate Special earns 1.15% APY, with the 36-month Certificate Special earning 1.25% APY. Like all USALLIANCE Certificates, the Certificate Specials require a $500 minimum opening deposit, with no stated balance cap.

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This Year’s CD Deals We Can Be Thankful For
This Year’s CD Deals We Can Be Thankful For

I want to wish everyone a happy and healthy Thanksgiving. Thanks for all of your support this year.

It’s sort of my blog tradition for Thanksgiving to look back at some of the bank deals this year that we can be thankful for. As you might expect, I’m going to have to keep this post short.

Last year I started off by saying that it was a disappointing year for interest rates. I’m afraid this year has been much worse.

Before the pandemic struck in March, there were a few long-term 3% CD...

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BHCU (PA) Offers Competitive Black Friday 6-Month CD
Deal Summary: Black Friday 6-month Certificate, 2.70% APY or 5.38% APY (with active iSAVE savings account), $500 min/$2,020 max deposit, new money, only available November 27, 2020.

Availability: Residents of Delaware County, Pennsylvania.

Thanks to the DA reader who informed me about this Black Friday CD special available at BHCU (formerly Boeing Helicopters Credit Union). CD specials have been rare this year, so it’s nice to see this Black Friday CD special even though it isn’t widely available and there is a small maximum deposit.

Available on November 27, 2020...

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Diversified Members Credit Union (MI) Offers 12-Month Add-On CD
Deal Summary: 12-month Save to Win CD, 1.00% APY, $25 minimum deposit, additional deposits allowed throughout the term. Limit of one Save to Win CD per member.

Availability: Michigan residents

The 12-month Save to Win CD (1.00% APY) offered by Diversified Members Credit Union (DMCU) is an add-on CD, which allows unlimited deposits (in any amount) throughout the term. The minimum opening deposit is $25, with no stated balance cap. There is a limit of one Save to Win CD per member

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TEXAR Federal Credit Union CDs Have Modest Rate Increases
Deal Summary: 6-, 12-, 18-, 24-, 36-, and 48-month Share Certificates, 1.25% APY, $1k minimum deposit.

Availability: Residents of the Texas counties of Bowie, Cass, Lamar, and Red River, and the Arkansas counties of Little River and Miller.

About two months ago, TEXAR Federal Credit Union (TEXAR) restructured its Share Certificate by offering the same 1.21% APY on all Share Certificates. Earlier this week, TEXAR raised the “uni-rate” to 1.25% APY. The minimum opening deposit is $1k, with each individual member limited to a maximum...

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DuTrac Community Credit Union Has Competitive 12-Month Jumbo CD
Deal Summary: 12-month Jumbo Certificate Special, 1.11% APY, $100k min deposit. 12-month Certificate Special, 1.01% APY, $1k min deposit.

Availability: Residents of 16 northeast Iowa counties, four northwest Illinois counties, and one southwest Wisconsin county.

One of the “New to Summary” CDs in this week’s CD Rates Summary is DuTrac Community Credit Union’s (DuTrac CCU) 12-month Jumbo Certificate Special, which currently earns 1.11% APY. The minimum opening deposit is $100k, with no stated balance cap. DuTrac also has a 12-month Certificate Special (1.01% APY) that only requires...

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Update on Advancial’s Availability and Competitive Jumbo CD Rates
Deal Summary: Jumbo Certificates, $50k minimum deposit – 6-month (0.69% APY), 1-year (1.01% APY), 18-month (1.07% APY), 2-year (1.13% APY), 3-year (1.19% APY), 4-year (1.28% APY), and 5-year (1.42% APY).

Availability: Easy membership requirement (more details in the Availability section below); residents of the Louisiana parishes of Acadia, Avoyelles, Evangeline, Iberia, Lafayette, St. Landry, St. Martin, and Vermillion; employees of many SEGs.

DA reader, ichaelm, has been diligent over the past few months with Forum posts about CD rates offered by Advancial. Because of uncertainty about the field of...

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Via Credit Union (IN) 60-71 Month CD Is Competitive
Deal Summary: 60-71 month CD, 1.51% APY, $500 minimum deposit.

Availability: Residents of twelve Indiana counties.

Via Credit Union’s (Via CU) 60-71 month CD (1.51% APY) is unique, in that it straddles two term-lengths (5- and 6-year) with an APY that is competitive in both term-lengths. The minimum deposit is $500, with no stated balance cap.

The CD is also offered as an IRA CD (Traditional and Roth) and an HSA, earning a higher 1.76% APY with the same $500 minimum deposit requirement.

As stated 0n the Savings Rates...

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First Guaranty Bank (LA/TX) Has Leading Rates On Long-Term CDs
Deal Summary: 5-, 6,- 7-, and 8-year CDs, 1.50% APY, $500 minimum deposit

Availability: Market area includes 11 Louisiana parishes and five Texas counties.

In late September, Louisiana-based First Guaranty Bank raised the rates on its very long-term CDs. The addition of 40 bps resulted in the 5-, 6,- 7-, and 8-year CDs all earning 1.50% APY. Any of these CDs can be opened with a $500 minimum deposit and there is no stated balance cap.

The CDs are also available as IRA CDs (Traditional,...

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Live Oak Bank Increases 5-Year CD Rate
Deal Summary: 5-year CD, 1.00% APY, $2.5k min/$250k max deposit per account.

Availability: Nationwide (internet bank)

North Carolina-based Live Oak Bank did something yesterday that we haven’t seen in a while: a substantial rate increase on its 5-year CD. The addition of 40 bps has boosted the APY to 1.00%. The minimum opening deposit is $2.5k, with a $250k balance cap.

The Truth-in-Savings disclosure details the Early Withdrawal Penalty (EWP).

This mild EWP makes the 1.00% APY more palatable. If the 5-year CD is closed after...

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