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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: Checking & Reward Checking Deals

Diversified Members Credit Union Offers 3% APY On 60-Month CD
Deal Summary: 13-month CD Special (2.50% APY), $200 min deposit, new money. 36-month CD (2.80% APY) and 60-month CD (3.00% APY), $200 min deposit.

Availability: Michigan residents

One of the “New To Summary” CDs included in last week’s CD Rates Summary was Diversified Members Credit Union’s (DMCU) 13-month CD Special (2.50% APY). The minimum opening deposit is $200 of new money, with no stated balance cap. The 13-month is also available as an IRA (Traditional and Roth), earning the same 2.50% APY with the same...

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Kellogg Community Credit Union (MI) Adds 14-Month CD, 2.30% APY
Deal Summary: 14-month CD Special, 2.30% APY, $500 minimum deposit.

Availability: Residents of 15 west Michigan counties.

In celebration of the grand opening of its newest branch in the Metro Health Village, Kellogg Community Credit Union (KCCU) is offering a 14-month CD Special, which earns 2.30% APY. This limited-time offer requires a $500 minimum opening deposit, with no stated balance cap.

The 14-month CD Special is also available as an IRA (Traditional, Roth, CESA), earning the same APY with the same funding requirements.

According to CSR, the Early...

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America's Credit Union Offers 2.38% On 12-Month CD
Deal Summary: 12-month Standard CD, 2.38% APY, $500 minimum deposit

Availability: Easy membership requirement

America's Credit Union (ACU) has a 12-month Standard CD (2.38% APY) that’s only become competitive recently. While the 2.38% APY has been in effect for almost a year, that rate started looking good in the last couple of weeks. The minimum opening deposit is $500, with no stated balance cap.

As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

Funding can be done by ACH, wire transfer, or check....

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Blue Federal Credit Union Has 17-Month CD Special, Up To 2.75% APY
Deal Summary: 17-month Term Share Special, up to 2.75% APY, $2k minimum deposit, new money

Availability: Easy membership requirement

Wyoming-based Blue Federal Credit Union (Blue FCU) has a new, limited-time offering: a 17-month Term Share Special, which can earn up to 2.75% APY. If funds already on deposit at Blue FCU are used, the APY will be 2.25%. The key to earning higher APYs is new money, defined as “money transferred from a different financial institution.” According to the landing page,

What is missing from the quote...

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Review of Varo
Written by Lindsay VanSomeren | Updated on 10/21/2019

Fintech developer Varo offers a cash management account that boasts a high interest rate and no fees. For people who want a simple, high-yield mobile bank account, Varo is worth considering — especially if you’re looking to save with some extra tools from an app. However, watch out for third-party fees for depositing cash into your account, plus limited access to checks. Note also that Varo itself isn’t a bank — it partners with The Bancorp Bank to hold deposits and...

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Dover Federal Credit Union 5-Year CD Earns Up To 2.90% APY
Deal Summary: Share Certificates – 3-year (2.60% APY), 4-year (2.76% APY), 5-year (2.90% APY), $100k minimum deposit.

Availability: Easy membership requirement; military relationship; 400+ SEGs

The last time I wrote about a Dover Federal Credit Union (Dover Federal) Share Certificate was during the 2016 International Credit Union Week. Coincidentally, today is International Credit Union Day and I’m writing about Dover Federal’s long-term Share Certificates, which were added to the most recent CD Rates Summary.

These three Share Certificates are also available as IRAs (Traditional, Roth, CESA), earning the...

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Marshall Community Credit Union 15-Month CD Earns Up To 3.00% APY
Deal Summary: 15-month CD Special, up to 3.00% APY, four deposit tiers.

Availability: Residents of eight SW Michigan counties.

Marshall Community Credit Union (MCCU) is currently offering a 15-month CD Special, with 16 different APYs ranging from 2.00% to 3.00% APY. The APYs are based on a combination of four deposit levels ($1k, $25k, $50k, $125k) and four Member Rewards Program levels (Valued, Loyal, Advantage, Premier).

The 15-month CD Special is also available as an IRA (Traditional, Roth), earning the same tiered APYs with the same requirements.

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Robinhood Announces Cash Management, Another Try at a Savings Account

Last December Robinhood tried to launch a cash management account that offered a 3% APY. That attracted a lot of publicity and scrutiny. After a few days, it turned into bad publicity when the SIPC president challenged Robinhood’s claims that the account offered SIPC insurance protection. This forced Robinhood to “start over from scratch” on a cash management account.

Robinhood has finally announced its new Cash Management. Like in December, there’s currently only a waiting list. However, it appears they’ve done their homework to make sure their cash management account will...

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Elements Financial Offers 2.10% APY On Helium Savings For 1 Year
Deal Summary: Helium Savings Promo, 2.10% APY, one-year rate guarantee, $2.5k minimum balance, new money, new account holders.

Availability: Easy membership requirement

Five years ago, Elements Financial launched its Helium Savings account, with an initial 1.00% APY (a competitive rate at the time). The 1.00% APY lasted about six months before the rate began to slip, finally settling at 0.55% APY. While many nationally available savings account rates climbed significantly in the past two years, the Helium Savings rate never increased beyond its current...

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Greenville Heritage Federal Credit Union 60-Mo CD Earns Up To 3.35% APY
Deal Summary: Fixed CDs: 60-month, 3.35% APY ($100k+), 3.25% APY ($50k+), 3.15% APY ($1k+); 48-month, 3.04% APY ($100k+), 2.94% APY ($50k+), 2.84% APY ($1k+).

Availability: Residents of Greenville County, South Carolina

Greenville Heritage Federal Credit Union (GHFCU) is currently offering competitive tiered APYs on its 48- and 60-month Fixed CDs. The deposit tiers are $1k, $50k, and $100k, with each APY tier increased by a uniform 10 bps.

The current rates on the 48- and 60-month Fixed Rate CDs have been in effect since July, when the...

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