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Ken Tumin

Joined: Nov 29, 2009Comments: 498
Forum Threads: 4,937Forum Posts: 5,693
Rep Points: 138,581
Ken Tumin

Contact via: Google Plus, Twitter, Facebook

About Ken Tumin

I started the BankDeals blog which eventually evolved into DepositAccounts.com as a hobby to help people find the best deals at banks and credit unions. My deals come from US banks and credit unions, both online and brick-and-mortar. Internet banks are creating more competition and better rates, but sometimes the best deals are local.

In addition to reports on deals, I also describe my experiences on opening accounts and dealing with the banks. Plus, I try to keep everyone updated on the important banking news relevant to savers.

I am NOT affiliated with any banks or institutions. I'm just another web surfer like you. My posts are based on what I find on institutions' websites, what they advertise and what the banks' customer service reps tell me. I also receive valuable help from readers who inform me of new rates and deals. Comments and emails are much appreciated.

Check with the institution for the latest and official information. Rates change very fast, and so the only official information is directly from the bank or credit union. I keep old posts with old rates for history's sake. A bank's rate history can be an important factor to consider. All posts are dated so you can see if the post may be out-of-date.  You may contact me at ken depositaccounts.com.

Recent Blog Posts

New Dimensions FCU Adds Competitive 15-month CD
New Dimensions Federal Credit Union
Availability: Residents of Kennebec and Somerset Counties, Maine.

Earlier this month, New Dimensions Federal Credit Union (New Dimensions) added a 15-month Share Certificate (1.51% APY) to its product line. The minimum opening deposit is $1k, with no stated balance cap.

As stated on New Dimensions’ Deposit Rates page, the Early Withdrawal Penalty for the 15-month Share Certificate is 270 days of dividends.


Headquartered in Waterville, New Dimensions Federal Credit Union’s field of membership is primarily residency based, with individuals who live,...

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State Bank of Cross Plains (WI) Offers State-Wide RCA
State Bank of Cross Plains
Availability: Market area for Ultimate Interest Checking covers all of Wisconsin.

For almost two years, State Bank of Cross Plains’ (SBCP) Ultimate Interest Checking account has earned 2.53% APY on qualifying balances up to $25k. Qualifying balances over $25k and non-qualifying balances both earn earning 0.01% APY.

Ultimate Interest Checking Qualification Requirements

  • At least 16 debit card transactions (signature).
  • Receive monthly eStatement.
  • Log in to eBank! at least once per month.

The Ultimate Interest Checking has no minimum balance requirement, monthly service fee, or minimum opening deposit. There is no mention...

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EverBank Raises Rates On Shorter-Term CDs
Availability: Nationwide (internet bank)

It’s been almost nine months since EverBank raised the rates on any of its CDs. That changed yesterday, when EverBank increased the rates on 15 Yield Pledge CDs/IRAs, ranging from 6 to 21 basis points.

The most impressive of the increases was a 21 basis point rate hike on the 3-year Yield Pledge CD (1.61% APY).

The minimum opening deposit for any of the Yield Pledge CDs is $1.5K, with no maximum balance cap. The CDs are also available as IRAs (Traditional and Roth) earning the...

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The Summit FCU (NY) Raises Rate On 1-Year Jumbo CD
The Summit Federal Credit Union
Availability: Portions of western New York State

The Summit Federal Credit Union (The Summit) ended the week by raising the rate on its 1-year Jumbo Share Certificate (1.40% APY). The minimum opening deposit is $75k, with no stated balance cap.

In its more than five year history, the 1-year Jumbo Share Certificate has had over 25 rate changes, with this week’s increase resulting in the highest APY ever.

The 1-year Jumbo Share Certificate is also available as an IRA (Traditional, Roth, and CESA) earning the...

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Alden CU's (Easy Membership) "Nuff Said Checking" Earns 5.125% APY
Alden Credit Union
Availability: Easy Membership Requirement

Massachusetts based Alden Credit Union’s (Alden CU) Nuff Said Checking account earns 5.125% APY on qualifying balances up to $5k. Unlike most Rewards Checking Accounts (RCA), the Nuff Said Checking does not offer any interest on balances (qualified or not) over the stated cap.

Qualifying Requirements

  • At least 20 POS or signature-based Debit Card transactions per billing cycle
  • Set up Direct Deposit
  • Enroll in eStatements and Online Banking/Mobile Banking

The Nuff Said Checking account has no monthly service fee, no minimum balance requirement, and no checks are issued....

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Recent Community Posts

Fed Officials Tell Activists Rate Hikes Won't Derail Economy
Updated: 4 minutes ago by Ricochet  |  4 comments  |  Financial News

From Yahoo! Finance: An unusually large group of Federal Reserve policymakers appeared before activists on Thursday and defended their plans to raise read more

Updated: 5 hours ago by Ken Tumin  |  1 comment  |  Financial News

For those who would like to follow the detailed figures released---- Next release will be Sept 30 8:30 am  Sept. figures as well as July and Aug will read more

New Design
Updated: Aug 27, 2016 by Frank Walker  |  6 comments  |  Miscellaneous

I use FF.  When  click on the Forum menu item the sub-menu appears, but the default action of showing the User Community seems to override any read more

Yellen Says Rate-Hike Case 'Has Strengthened In Recent Months'
Updated: Aug 26, 2016 by Frank Walker  |  1 comment  |  Financial News

Federal Reserve Chair Janet Yellen said the case to raise interest rates is getting stronger as the U.S. economy approaches the central bank's goals.

New Procedure Helps People Making IRA And Retirement Plan Rollovers
Posted: Aug 25, 2016 by Ken Tumin  |  0 comments  |  Financial News

If you regularly do IRA rollovers for your IRA CDs, this might be helpful. From an IRS press release: The Internal Revenue Service today provided a read more

Has Anyone Here Read Porter Stansbury's "The American 2020 Survival Blueprint"?
Updated: Aug 18, 2016 by paoli2  |  5 comments  |  Ask The Community

I just listened to Ron Paul's info on the "coming" American currancy crisis and it is scary.  Has anyone in this group purchased  the books and read more

Money Market Promo In Florida - 1% For 6 Mo & Up To $1,000 Bonus
Updated: Aug 18, 2016 by Ken Tumin  |  1 comment  |  Bank Deals

Saw FCB advertising this money market promotion. Looks like a good deal.  1% APY guaranteed for 6 months on all tiers Cash back from $100 to $1,000 read more

Fed's July Minutes Show A Split Central Bank Seeking To Keep Options Open
Updated: Aug 18, 2016 by Shorebreak  |  1 comment  |  Financial News

From the WSJ: Taken together, the latest Fed release suggested a rate increase is a possibility as early as September, but the Fed won’t commit to moving read more

Negative Rates Seen Reducing Japan Big Banks' Profits By $2.96 Billion
Updated: Aug 16, 2016 by cumulus  |  1 comment  |  Financial News

From Reuters:Japan's financial watchdog estimates that negative interest rates under the Bank of Japan's monetary easing policy will reduce profits for read more

Gloom Deepens For UK Savers As Santander Halves Rates - FT.Com
Posted: Aug 15, 2016 by Ken Tumin  |  0 comments  |  Financial News

From FT Santander UK is to halve the interest rate on one of its most popular accounts in a move other British banks are expected to follow as they adjust read more

Newspapers Rethink Paywalls As Digital Efforts Sputter
Posted: Aug 14, 2016 by Ken Tumin  |  0 comments  |  Financial News

This isn’t directly banking related, but for those of us who look to news sites for their banking and financial news, it’s nice to see these paywalls are read more

Small CD Rate Increases At State Bank Of India Chicago
Posted: Aug 12, 2016 by Ken Tumin  |  0 comments  |  Bank Deals

Slight rate increases were made to the bank’s 1-, 2- and 3-year terms. 1.29% APY 1-year CD (was 1.26%) 1.43% APY 2-year CD (was 1.41%) 1.68% APY 3-year read more

CU Loans Are Heating Up
Posted: Aug 12, 2016 by Ken Tumin  |  0 comments  |  Financial News

From the Credit Union National Association Summer is well underway and credit union lending-like the weather-is heating up. Credit union loan portfolios read more

Erie Federal Credit Union (EFCU) Experience -- Not Good!
Updated: Aug 11, 2016 by ronh  |  8 comments  |  Bank Reviews

Got bored over weekend, thus applied online for the (3.56%, $25K) Dividend+Plus account from EFCU. (1) ID questions were ancient and impossible read more

Overview Of Opening Andrews FCU's 3% 7-Year IRA CD
Posted: Aug 9, 2016 by Ken Tumin  |  0 comments  |  Bank Deals

Harry Sit of The Financial Buff has an excellent overview of the process he used to join Andrews Federal Credit Union and open the 3% 7-year IRA CD read more

That Stellar Jobs Report Just Gave The Fed Clearance For Takeoff To Start Raising Rates
Updated: Aug 6, 2016 by me1004  |  2 comments  |  Financial News

From CNBC: The data in the July employment report were not only uniformly strong in their internal components, but the prior month's jobs data were read more

Walmart Did Not Allow Debit Card To Be Used As Credit Card.
Updated: Aug 6, 2016 by deymond  |  8 comments  |  Miscellaneous

On 5/1/2015, I had 5 out of 12 Walmart transactions post as debits. You have to keep close track of your credit transactions or you may be read more

Negative Interest Rates Threaten Europe's Financial Stability
Updated: Aug 4, 2016 by ChrisCD  |  1 comment  |  Financial News

Negative interest rates erode the profitability of the banking sector and pose a threat to financial stability. In exchange, they offer an economic read more

Would You Trust Your Money In The State Bank Of India?
Updated: Aug 4, 2016 by Louisa  |  21 comments  |  Ask The Community

https://www.depositaccounts.com/b...dia-il.htm Thanks!

Private Label Banking: How So Many Of Your Favorite Banks Are Actually All The Same Bank, The Bancorp Bank
Posted: Aug 4, 2016 by Ken Tumin  |  0 comments  |  Financial News

This is a good review of how The Bancorp Bank has been partnering with financial technology companies to offer banking products. Another bank read more

Laddering CDs And Other Fixed-Income Investments
Updated: Aug 4, 2016 by pearlbrown  |  1 comment  |  Financial News

In addition to a review of laddering, the author provides some useful info on brokered CDs. And he included one useful resource for fin read more

Credit Union Teller Charged With Embezzling $129K
Updated: Aug 3, 2016 by Ally6770  |  1 comment  |  Financial News

From the Credit Union Times: Back in 2007, executives at the $112 million Bear Paw Credit Union in Harve, Mont., began having unusual cash shortages at read more

These Sneaky Fees May Be Costing You Big Money
Posted: Aug 3, 2016 by Ken Tumin  |  0 comments  |  Financial News

Do you review your credit card statements line by line every month? If you don't, there might be charges on your bill that you didn't even realize were read more

Melrose CU Fires CEO Kaufman
Updated: Aug 1, 2016 by cumulus  |  6 comments  |  Financial News

Melrose CU, Briarwood, N.Y., one of several area credit unions suing the Taxi and Limousine Commission of New York City related to taxi medallion loans read more

Hard To Tell If Interest Rates Have Hit Bottom
Updated: Jul 31, 2016 by jimbeau  |  4 comments  |  Financial News

It's entirely possible that interest rates hit all-time lows earlier this month that will never again be seen in our lifetimes, as many are now read more

What To Expect In The Fed Statement Next Week
Updated: Jul 30, 2016 by MistyAnn1  |  1 comment  |  Financial News

The Federal Reserve is expected to hold interest rates steady at its meeting next week and refrain from signaling about a possible September rate hike due read more

4 Emerging Risks Challenging Credit Unions Today - #1 Is Wire & ACH Xfers
Posted: Jul 29, 2016 by Ken Tumin  |  0 comments  |  Financial News

This may explain why we've seen a reduction in the ACH transfer limits at places like Alliant Credit Union. According to this NAFCU Services blog read more

A Credit Union Acquisition Of A Bank
Posted: Jul 29, 2016 by Ken Tumin  |  0 comments  |  Financial News

This type of acquisition is rare. From the Credit Union Times: The $1.2 billion Advia Credit Union in Parchment, Mich., said Friday its acquisition read more

When To Say Yes To An Annuity -- And When To Pass
Posted: Jul 27, 2016 by Ken Tumin  |  0 comments  |  Financial News

It's not uncommon for different financial advisers to have different takes on what investments make the most sense for your retirement portfolio. But I've read more

CD Rate Special
Updated: Jul 25, 2016 by Ken Tumin  |  1 comment  |  Bank Deals

Central Bank ( Bank locations in Geneseo, Fulton, and Princeton, IL)  announced an "Olympic Special". It is a 13 month term CD at 1.13% read more