Bank Deals Blog: Nationwide Deals

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...

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...

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.”

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...

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...

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...

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...

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 75^th 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...

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...