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.
POSTED ON THURSDAY, SEPTEMBER 16, 2021 BY KEN TUMIN
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.
POSTED ON WEDNESDAY, SEPTEMBER 15, 2021 BY KEN TUMIN
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...
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,
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...
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...
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...
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...
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...