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.


Popular Posts

Bank Deals Blog: Savings & MMA Deals

Bank of Utica (NY) Statement Savings Earns Competitive Rate
Deal Summary: Statement Savings Account, 0.60% APY on balances between $250 and $2 million.

Availability: Market area includes Herkimer, Madison, and Oneida Counties, New York.

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.

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Vio Bank New Cornerstone Money Market Offers Competitive Rate
Deal Summary: Cornerstone Money Market, 0.55% APY on all balances, $100 minimum opening deposit.

Availability: Nationwide (internet bank)

There was only one “New to Summary” savings/money market account added to this week’s Liquid Summary: Vio Bank’s Cornerstone Money Market account (Cornerstone MMA), which currently earns 0.55% APY on all balances.

DA began tracking the Cornerstone MMA in late April when the APY was 0.61%. The rate is now 0.55%, following rate cuts in early August (5 bps) and September (1 bps). The current rate is a...

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Byline Bank (IL/WI) Unveils Online Advantage Money Market
Deal Summary: Advantage Money Market, 0.65% APY on balances up to $500k, $25k minimum opening deposit.

Availability: Online market area Illinois and Wisconsin.

Chicago-based Byline Bank recently introduced its Advantage Money Market, which is available only online.

Earning 0.65% APY on balances up to $500k, the Advantage Money Market requires a $25k minimum opening deposit. As stated in the fine print on Rates page,

While all balances less than $500k earn the stated APY, if the daily balance falls below $25k, a $25 monthly service will be...

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Dort Financial (MI) Offers Competitive Rates On IRA Shares Account
Deal Summary: IRA Shares, 1.51% APY ($25k+), 1.00% APY ($10k+), 0.75% APY ($1k+), 0.50% APY (up to $1k)

Availability: All Michigan residents

Many thanks to DA reader, Cdbob, for his recent Forum post about Dort Financial Credit Union’s (Dort Financial) IRA Shares account.

The IRA Shares account currently offers the following tiered rates:

  • 1.51% APY ($25k minimum)
  • 1.00% APY ($10k minimum)
  • 0.75% APY ($1k minimum)
  • 0.50% APY (up to $1k)

There’s not much information on Dort Financial’s website about the IRA Shares account. The following is from the Truth-in-Savings disclosure that...

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First Heritage Fed Credit Union Offers Competitive Rewards Checking
Deal Summary: Kasasa Cash, 2.50% APY, on qualifying balances up to $10k. Kasasa Saver, 0.75% APY, on qualifying balances up to $50k.

Availability: Residents of Chemung and Steuben Counties (NY) and Tioga County (PA).

First Heritage Federal Credit Union’s (First Heritage) Kasasa Cash checking account currently earns 2.50% APY on qualifying balances up to $10k. Qualifying balances over $10k earn 0.20% APY, with non-qualifying balances earning 0.05% APY.

The monthly qualification requirements are fairly standard and include,

  • At least 12 debit card purchases
  • At least one direct deposit,...
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Canvas Credit Union Reverse Tier Savings Has Competitive Blended APY
Deal Summary: Reverse Tier Savings Account, 2.50% (up to $2k), 1.00% ($2k-$5k), 0.50% ($5k-$10k), 0.35% ($10k-$50k), 0.10% ($50k+).

Availability: Colorado residents; Partner Companies and Select Employee Groups, including Consumer United Association.

About four years ago, Canvas Credit Union’s (Canvas CU) introduced its Reverse Tier Savings Account (RTSA) that earns higher APYs on lower balances. While there is no minimum balance requirement or minimum opening deposit requirement, the first $5k deposited must be new money, which is defined as “funds not on deposit at Canvas Credit Union at...

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Consumers Credit Union Offers Excellent Rate On Smart Saver Account
Deal Summary: Smart Saver, 1.50% APY; monthly deposits of $50-$1k required; checking relationship w/month direct or mobile (remote) deposit or ACH credits totaling at least $500.

Availability: Easy membership requirement

Illinois-based Consumers Credit Union debuted its Smart Saver account about two years ago. The initial 2.00% APY lasted about eight months before it was lowered to 1.50% APY in May 2020. As you might expect from such a competitive rate, there's an important limitation, a maximum monthly deposit of $1k. On the plus side, there's no...

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Ivy Bank Is Cambridge Savings Bank's New Internet Division
Deal Summary: High-Yield Savings, 0.61% APY on balances of ≥$2.5k, $100 minimum/$1m maximum deposit.

Availability: Internet bank, nationally available except in California.

You may have noticed a “New to Summary” nationally available 5-year CD offered by Ivy Bank in this week’s CD Rates Summary. Ivy Bank is not a well-known bank and for good reason: it’s the brand-new digital division of Cambridge Savings Bank. (I discuss Ivy Bank’s debut in the Availability and Bank Overview sections below.)

Ivy Bank is currently offering a limited product line, which...

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Firefighters & Company Credit Union (OH) Offers Rewards Checking/Savings
Deal Summary: Kasasa Cash Checking, 2.50% APY, on qualifying balances up to $25k. Kasasa Saver, 0.75% APY, on qualifying balances up to $100k.

Availability: Residents of Green, Miami, and Montgomery Counties, Ohio.

DA has been tracking the Kasasa brand products offered by Firefighters & Company Federal Credit Union (FFCOCU) for more than four years. FFCOCU’s Kasasa Cash Checking account is one of the very few rewards checking accounts to experience a rate increase in the recent past. In early 2020, the Kasasa Cash Checking APY...

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Competitive Jumbo Money Market Account at State Bank of Texas
Deal Summary: Jumbo Money Market, 0.75% APY, $100k minimum.

Availability: Nationwide

Thanks to a comment made by DA reader, keke2die4, the Jumbo Money Market offered by State Bank of Texas’ (SBT) was added to this week’s Liquid Summary. The Jumbo Money Market currently earns 0.75% APY on balances of at least $100k.

The Jumbo Money Market has seen a variety of changes between 2016 and 2017. In early 2016, the Jumbo Money Market (known then as Jumbo MMDA) was only available in Chicago. A few...

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