Bank Deals Blog: CD Deals

Bank of Utica’s Statement Savings Account currently earns a competitive 0.60% APY on balances between $250 and $2 million. According to the Personal Rates page, if the available average balance is greater than $2 million, a 0.25% APY applies to the portion above $2 million. The minimum opening deposit is $100, but balances less than $250 do not earn any interest.

Last week, Ohio State Bank added an 18-month CD Special earning 1.00% APY. This limited-time special requires a minimum $500 opening deposit, with no stated balance cap. While the banner for the CD Special on the Bank’s homepage clearly states the limited-time availability, no specific end-date is mentioned. CSR stated that availability is dependent on how quickly the Bank meets its deposit goal. In other words, it will be available...

Texas-based Advancial recently raised the rates on most of its Jumbo Certificates, with the long-terms having the largest increases: 3-year (8 bps), 4-year (10 bps), and 5-year (13 bps). The rate increases for the short-terms Jumbo Certificates ranged from 1-3 bps.

In the past seven years, I’ve written more than 25 blog posts about the limited-time CD Specials offered by Iowa-based GreenState Credit Union (GreenState). The CD Specials are usually available for at least a month before being removed from the product line. The current Specials are a 15-month CD (0.90% APY, $100k; 0.80%...

Iowa-based Veridian Credit Union (Veridian) has added an 18-month Jumbo CD Special, (0.90% APY), which will be a “New to Summary” CD in the up-coming CD Rates Summary. (FYI – because of the Labor Day holiday, this week’s Summary will be published on Wednesday.) The minimum opening deposit is $100k, with no stated balance cap. The 18-month CD Special...

As I was checking out the recent CD rate increases at First Technology Federal Credit Union (First Tech), I was surprised to see it’s been almost five years since I last wrote about the California-based credit union. First Tech’s last claim to fame...

Illinois-based Vibrant Credit Union (Vibrant) unveiled its 5-year Add-On CD almost three years ago. Currently earning 0.80% APY, the 5-year Add-On CD allows for unlimited additional deposits ($5 minimum) throughout the term. The minimum opening deposit is only $5, with no stated balance cap.

As stated in the Rates & Service Charges document, the onerous Early Withdrawal Penalty reads as follows:

For more than six years, First Federal Credit Union (First Federal) CD product line has consisted of a series of limited-time CD Specials, usually three or four offered at one time. The latest offerings include an 8-month (0.60% APY), 18-month (0.80% APY), and 60-month (1.05% APY). Any of the CD Specials can be opened with a minimum $10k...

In early May, ACFCU began offering 0.70% APY on all its Certificates. This change to a “uni-rate” involved rate increases (between 10-45 bps) for the majority of the Certificates, except the 60-month, which lost 10 bps. Of the five Certificates in the product line, the 6-month and 12-month Certificates are the most competitive. The minimum opening deposit is $1k, with no stated balance cap.

The Certificates are also offered...