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: Nationwide Deals

Elements Financial Guarantees Helium Savings 3.25% APY For One Year
Deal Summary: Helium Savings Promo, 3.25% APY, one-year rate guarantee, $2.5k minimum opening deposit/balance, new money.

Availability: Easy membership requirement

Three years ago, Elements Financial offered a promotional 2.10% APY on the Helium Savings that was guaranteed for a year. Elements Financial has revived the Helium Savings promotion (Promo Helium), with a very competitive 3.25% APY that is guaranteed for 12 months following account opening.

The minimum opening deposit is $2.5k of new money, which is defined as funds not on deposit at...

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Merchants Bank of Indiana Money Market Account Is Near Rate Leader
Deal Summary: Money Market Account, 3.05% APY on all balances, $50 minimum opening deposit.

Availability: Nationwide through online application.

Last week, Merchants Bank of Indiana (MBoI) added 77 bps to its nationally available Money Market Account (MMA). The new 3.05% APY applies to all balances and according to CSR, “all existing accounts had their rates updated” as of end of business on September 23, 2022. While there is no minimum balance requirement to earn the stated APY, a minimum $50 deposit is required to open a...

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Chartway Federal Credit Union Adds Rate-Leading 19-Month Promo CD
Deal Summary: 19-month Promo CD, 4.00% APY, $500 minimum deposit, new money.

Availability: Easy membership requirement.

Virginia-based Chartway Federal Credit Union (Chartway) has added a 19-month Promo CD earning 4.00% APY. The fine print on the Promo CD landing page states that both new and existing Chartway members are eligible to open a 19-month Promo CD. The minimum opening deposit is $500 (or $100 for members under 18 years) of new money, which is defined as “funds not currently on deposit with Chartway Federal Credit Union.”

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Quorum Federal Credit Union 30-Month CD APY Breaks 4%
Deal Summary: Term Savings CDs – 30-month, 4.00% APY ($1k min), 4.10% APY ($100k min); 13-month, 3.50% APY ($1k min) 3.60% APY ($100k min); new money.

Availability: Easy membership requirement

I think this is the first time I’ve seen a credit union generate a hashtag to promote CDs.

It’s only been two weeks since New York-based Quorum Federal Credit Union (Quorum) added 50 bps to both the 13-month and 30-month Term Savings CDs (TSCD). Apparently, Quorum is serious about #CantStopWontStop: another 50 bps have been added, with the 13-month...

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Merrick Bank 12-Month CD Rate Shoots To The Top
Deal Summary: 12-month CD, 3.60% APY, $25k minimum/$250k maximum deposit.

Availability: Nationwide (internet bank)

Utah-based Merrick Bank ended the week with across-the-board CD rate increases, with the 12-month CD (3.60% APY) becoming the new rate leader for nationally available 1-year CDs. Since the beginning of the month, the 12-month CD has added 125 bps in four rate increases. The minimum opening deposit for any Merrick Bank CD is $25k, with a $250k balance cap. (Any interest accrued and paid into the CD is exempt from the $250k...

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AFFCU Offers Limited-Time Competitive 13-Month Promo Certificate
Deal Summary: 13-Month Promo Certificate, 3.50% APY ($100k min), 3.25% APY ($1k min), new money, limited-time offer.

Availability: Easy membership requirement.

For a limited-time, Texas-based AFFCU is offering a competitive 13-month Promo Certificate with tiered rates – 3.50% APY ($100k minimum deposit) and 3.25% APY ($1k minimum deposit). Both versions of the 13-month Promo Certificate require new money, which is defined simply as funds not currently on deposit at AFFCU.

While there is no specified end-date, the fine print does state that the “13-month special offer is subject...

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Connexus Credit Union 12-Month CD Rate Jumps To New Heights
Deal Summary: Certificates – 12-month (3.51% APY) and 36-month (3.61% APY), $5k minimum deposit

Availability: Easy membership requirement

Wisconsin-based Connexus Credit Union (Connexus) has been prolific in raising rates lately: this is the third Connexus blog post in four weeks. After a gain of 30 bps this week, the 12-month Certificate (3.51% APY) once again offers the top rate for nationally available 1-year CDs. The 36-month Certificate currently earns 3.61% APY following a more modest increase of 15 bps. Connexus Certificates can be...

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Andrews Federal Credit Union Adds Competitive 7-Month CD Special
Deal Summary: 7-month Share Certificate Special, 3.00% APY, $1k min/$50k max deposit, in-branch only, limit of one per member.

Availability: Easy membership requirement.

Now through October 31, 2022, Andrews Federal Credit Union (Andrews Federal) is offering 7-month Share Certificate Special in celebration of the Joint Base Andrews 75th Airshow. Earning 3.00% APY, the 7-month Share Certificate Special must be opened in-branch with a $1k min/$50k max deposit of new money (funds not already on deposit at Andrews Federal). There is a limit of one 7-month Share Certificate...

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DollarSavingsDirect Savings Account Is New Rate Leader
Deal Summary: Dollar Savings Account 3.00% APY, $1 minimum initial deposit.

Availability: Nationwide (internet bank)

Emigrant Bank’s second online division, DollarSavingsDirect (DSD), increased the rate of its Dollar Savings Account from 2.00% to 3.00% APY yesterday. For those who followed online banks back in 2005, this should remind you of EmigrantDirect, which was the first to have a 3% APY during the 2004-2006 rate hiking cycle. EmigrantDirect was the first online division of Emigrant Bank.

When DSD was launched in 2008, its rate was very competitive, and that lasted for...

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Mountain America Credit Union Ups 60-Month CD/Growth CD Rates
Deal Summary: 60-month Certificate, 3.25% APY $500 minimum deposit, one-time bump-up option. 60-month Growth Certificate, 3.25% APY $5 min/$100k max, additional deposits up to $100k max allowed throughout the term, minimum $10 automatic monthly deposit required.

Availability: Easy membership requirement.

For a limited time, Utah-based Mountain America Credit Union (MACU) is offering a 60-month Certificate earning 3.25% APY with a one-time bump-option at no charge. Normally, a MACU rate bump option is offered on a Certificate with a rate that is discounted 25 bps below the...

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