tag:blogger.com,1999:blog-111038402011-09-27T21:35:56.136-07:00Bank Deals - Best Rates and DealsBank Deals was started by a guy who enjoys searching for the latest banking deals and the best rates.Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.comBlogger64991100tag:blogger.com,1999:blog-11103840.post-23164658387871420602010-06-11T05:10:00.000-07:002010-06-11T05:11:31.625-07:00New Home of Bank Deals is at DepositAccounts.comThe Bank Deals Blog has moved to DepositAccounts.comBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-44548390440027181372010-01-15T18:23:00.000-08:002010-01-15T19:16:49.806-08:00Three Banks Failed Today - FDIC Wasn't Able To Find a Buyer for OneThere were three bank failures today. That brings the total for the year to four. The first two that failed were small. One was in Illinois and the other in Minnesota. The FDIC was able to find buyers who agreed to assume all deposits of these two failed banks.The third bank to fail was Barnes Banking Company in Utah. Unlike the first two, the FDIC couldn't find a buyer. It must have been in bad Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-75915005842749775512010-01-15T12:00:00.000-08:002010-01-15T12:04:26.405-08:00Update on ING Direct BonusesING Direct has another $50 promotion for opening a new Electric Orange Checking account. The promo page is located at www.ingdirect.com/electric50, and the new reference code is EM423. This offer is scheduled to end on 1/31/2010. To qualify for this promo, you have to be an existing ING Direct customer without an Electric Orange account. Credit for this find goes to FW member karatz who mentionedBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-38059354530312631682010-01-15T07:37:00.000-08:002010-01-15T07:39:40.579-08:002.50% 25-Month CD Continues at First Financial Bank in OH, IN & Other States - Local OnlyFirst Financial Bank continues to offer a special 25-month CD with a 2.50% APY. Minimum deposit is $10,000, and new money is required. This special is not listed at the bank's website. I just called the bank to confirm the rate. According to the CSR, this special is available at all branches. The CSR didn't know how much longer it would last, but they usually update rates on Tuesdays.A branch Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-66266884218598392862010-01-15T07:35:00.000-08:002010-01-15T07:37:40.762-08:003.51% Reward Checking Account at Aspire FCU - Available NationwideAspire Federal Credit Union is offering a high-yield reward checking account called Kasasa Cash. It has the following rates and features if certain monthly requirements are met:3.51% APY on balances up to $25,0001.01% APY on portion of balance over $25,000Reimburses up to $25 in ATM fees nationwide per monthThe monthly requirements include:12 debit card purchases1 Automatic Payment or Direct Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-29690931826470170482010-01-15T05:59:00.000-08:002010-01-15T06:03:07.044-08:00Ally Bank Launches an Interest Checking AccountAlly Bank has added a checking account to its online products. It's an interest checking account that currently pays 1.15% APY on balances over $15K and 0.50% APY on smaller balances. Some important features include:No minimum balance or monthly feesFree Online Bill PayFree standard checks and no limit on check writingYou can use any ATM worldwide and Ally will automatically refund ATM fees Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com5tag:blogger.com,1999:blog-11103840.post-2052650375058927362010-01-14T10:20:00.000-08:002010-01-14T10:24:42.035-08:00BankDeals Transition to DepositAccounts.com Is Fast ApproachingWe're just about ready to transition the BankDeals blog to DepositAccounts.com (we plan to have it done by late Friday night). In the last month, my technical partner and I have spent quite a bit of time to ensure that the new site will have all of the features of the current blogspot blog, with some additional new and improved features in the works (as an overview reminder, see my post about Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com10tag:blogger.com,1999:blog-11103840.post-16948756258242290582010-01-14T06:55:00.000-08:002010-01-14T07:02:31.884-08:00$100 Checking Account Bonus and an Online Savings Account at Bank of the WestBank of the West has brought back its $100 checking account bonus. This new bonus is available until 2/19/2010, and like the last one it allows either direct deposit of at least $250 or 10 online bill payments. The promotion details are listed in the bank's promotion page. Some important details mentioned in the small print include:Open any new personal checking accountFirst recurring direct Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com6tag:blogger.com,1999:blog-11103840.post-45680812004796727152010-01-13T14:04:00.000-08:002010-01-13T14:10:21.676-08:00Ally Bank Plans to Launch a Checking Account by End of This WeekA reader mentioned this news about Ally's new checking account, and I just confirmed it with a CSR via Ally's online chat. Unfortunately, the CSR didn't have any additional details. Here's what the CSR said:It will be introduced by the end of the week. We don't have many details other than it will be a checking account.If it's like the checking accounts at other online banks, the rate will Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com9tag:blogger.com,1999:blog-11103840.post-80859039366745360362010-01-13T07:00:00.000-08:002010-01-14T21:40:44.581-08:00Changes in ShoreBank Direct's Savings AccountUpdate 1/14/10: Rates have fallen. New rates are 1.09% APY for under $100K and 1.25% APY for $100K+. Note how close these are to the FDIC rate caps.ShoreBank Direct recently sent letters to its customers informing them of a new tiered rate structure for the online savings account. Here's an excerpt of the letter:In order to provide ongoing flexibility in the ShoreBank Direct Online Savings Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-82326304628540508242010-01-12T22:17:00.000-08:002010-01-12T22:21:37.360-08:002.50% 9-Month CD at Dime Savings Bank in New YorkDime Savings Bank has replaced its $300 checking account bonus with a special 2.50% APY 9-month CD. Minimum deposit is $500, and the maximum is $50,000. New money is required. And here's an important requirement as shown in the small print:To be eligible for this promotional CD rate offer, customer must also either open a new Prime Dime Rewards Checking or Dime Rewards Checking account and Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com5tag:blogger.com,1999:blog-11103840.post-46158302402752481252010-01-12T06:08:00.000-08:002010-01-12T21:20:43.889-08:00$150 Checking Account Bonus at PlainsCapital Bank - Texas OnlyPlainsCapital Bank is offering up to $150 for opening a checking account with direct deposit. The bonus is listed in the bank's special offers page. Account must be opened by 2/19/2010. Some of the important details listed in the small print include:To qualify for the $50 bonus, you must open a new PlainsCapital Bank Free Checking Account by Feb. 19, 2010, with a minimum deposit of $50 in new Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com5tag:blogger.com,1999:blog-11103840.post-34291317632560372812010-01-12T05:31:00.000-08:002010-01-12T05:34:41.026-08:005.12% Reward Checking Account at Bank of the Southwest in NM - Local OnlyBank of the Southwest is offering a high-yield reward checking account called True Checking. It has the following rates if certain monthly requirements are met:5.12% APY on balances up to $25,0000.25% APY on portion of balance over $25,0000.25% base rate if requirements are not metThe monthly requirements include:15 debit card purchases (credit based)1 direct deposit or online bill pay or Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com8tag:blogger.com,1999:blog-11103840.post-41685976978545502682010-01-12T05:29:00.000-08:002010-01-13T20:13:13.653-08:004.00% 60-Month CD & 2.30% 18-Month CD at Hanover Community Bank in NY - Local OnlyUpdate 1/13/10: The CD rates have fallen. Please check the bank's website for the latest rates.Hanover Community Bank is offering three competitive CDs: a 2.30% APY 18-month CD, a 2.75% APY 36-month CD and a 4.00% APY 60-month CD. Minimum deposit is $500. These rates are listed at the top of the bank's personal banking page as of the morning of 1/12/2010.It appears a branch visit is required to Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-73183648659034377182010-01-11T07:06:00.000-08:002010-01-11T07:13:10.936-08:00The Hidden Costs of Reward CardsThis NYT article, The Damage of Card Rewards has an interesting discussion of the hidden costs of using reward credit cards. It's not the direct cost that consumers pay, but the cost paid by the merchants. Here's how the article describes the issue:For several years, I’ve wondered whether my aggressive pursuit of credit card rewards made me a selfish consumer.After all, the 1 to 3 percent or moreBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com13tag:blogger.com,1999:blog-11103840.post-52007710415448191392010-01-11T07:03:00.000-08:002010-01-11T07:06:50.310-08:002.55% 22-Month CD at First Commercial bank of Florida - Local OnlyFirst Commercial Bank of Florida has another CD promotion with a some competitive rates for this week. The special CDs include a 1.55% APY 6-month CD, a 2.05% APY 16-month CD and a 2.55% APY 22-month CD. Minimum deposit is $1,000, and the maximum is $99K. As is common with this bank, the rates are not listed at the bank's website. I had to call the bank today. These special CD rates typically Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-29101044889474558562010-01-10T11:11:00.000-08:002010-01-10T11:20:47.533-08:00Update on Ally Bank's CD Renewal BonusIf you have an Ally Bank CD that is maturing, you may want to contact Ally Bank and see if they'll offer you a renewal bonus. As I mentioned in December, readers have reported receiving loyalty bonuses that are 0.50% over their currently posted rates. A 0.50% retention bonus was also recently mentioned in this BestCashCow post. I tried to get more info from an Ally CSR, but if you don't have a Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com18tag:blogger.com,1999:blog-11103840.post-22240370892642267282010-01-10T11:05:00.000-08:002010-01-10T11:11:19.733-08:003.00% No-Penalty 60-Month IRA CD at Agriculture FCU - Easy MembershipAgriculture FCU is again offering a special No-Penalty Certificate. However, unlike last year's no penalty CDs, this one is only for an IRA certificate. The special has a 60-month term with a 3.00% APY. This is a little low for a 5-year term, but since it's a no-penalty CD, that shouldn't be an issue. Minimum deposit is $1,000. This special is listed in AFCU's IRA page as of 1/10/2010 and is Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-75080582936503753872010-01-10T11:01:00.000-08:002010-01-10T11:05:32.414-08:002.30% 21-Month CD at Worthington Federal Bank in Alabama - Local OnlyWorthington Federal Bank is offering a fairly competitive CD special. It's a 2.30% APY 21-month CD. Minimum deposit is $1,000. The bank also has some competitive standard CDs including a 2.05% APY 18-month CD and a 1.85% APY 12-month CD. These rates are listed in the bank's deposit rate sheet as of 1/10/2010.The bank also offers a high-yield reward checking account without a balance cap. As you Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-63203634886388349982010-01-09T18:25:00.000-08:002010-01-09T18:27:27.529-08:00Bank Deals Weekly Summary for January 9, 2010Hot Deals, Quick Link for Rates, Recap of this week's postsWill we see rising interest rates in 2010? As described in this Bloomberg article, there are expectations from economists that we'll see a slow rise in the second half of this year:Economists expect the U.S. central bank to raise the benchmark federal funds rate from close to zero in the third quarter of this year, according to the medianBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com3tag:blogger.com,1999:blog-11103840.post-41548495907006233072010-01-08T19:51:00.000-08:002010-01-08T20:22:37.794-08:00Review of the First Bank Failure of 2010 - Horizon Bank in Washington StateThe first bank failure of 2010 happened today. Horizon Bank, Bellingham, WA was closed by state regulators, and the FDIC arranged for Washington Federal Savings and Loan Association to assume all deposits.The FDIC is starting early this year. The first bank to fail in 2009 was on January 16th. Horizon Bank was the only closure today. If we see as many or more closures than last year, future Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-23562380928221591722010-01-08T07:02:00.000-08:002010-01-08T07:06:36.105-08:00$150 Checking Account Bonus at BBVA Compass (available in AL, AZ, CO, FL, NM & TX)BBVA Compass Bank is offering a bonus of up to $150 for opening a new checking account, using online bill pay and direct deposit. Here's the promotion page link. To earn the first $75 requires the use of Online Bill Pay. The second $75 requires direct deposit. The new checking account must be opened by 2/28/2010. Here are the details:Earn up to $75 when you use online bill payOpen a new Compass Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com10tag:blogger.com,1999:blog-11103840.post-12579192629078227812010-01-08T07:00:00.000-08:002010-01-08T07:02:02.417-08:002.10% 6-Month CD and other Competitive CD Rates at Atlanta Postal Credit Union - Local OnlyAtlanta Postal Credit Union continues to offer very competitive short-term CD rates. These include a 2.00% APY 3-month CD, a 2.10% APY 6-month CD and a 2.25% APY 12-month CD. Below is a list of the CD rates listed in the credit union's rate table as of 1/08/2010.2.00% APY 91-day2.10% APY 6-month2.25% APY 12-month2.50% APY 24-month2.50% APY 30-month2.75% APY 36-month3.00% APY 48-month3.25% APY 60-Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-44541800515464229742010-01-08T06:58:00.000-08:002010-01-08T07:00:07.473-08:002.40% 18-Month CD & 3.40% 44-Month CD at Crescent Bank & Trust in Louisiana - Local OnlyCrescent Bank & Trust has several competitive CD rates. There are five CD specials, but many of its standard CDs are actually more competitive. These include a 2% APY 12-month CD, a 2.40% APY 18-month CD and a 3.15% APY 36-month CD. Minimum deposit is $1,000. The most competitive CD special is the 44-month CD with a 3.40% APY. Minimum deposit is $5,000. These rates are listed in the bank's rate Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-36704535039510862962010-01-08T06:56:00.000-08:002010-01-08T06:58:15.888-08:002.00% 12-Month CD at RTN Federal Credit Union in MARTN Federal Credit Union is offering a 2.00% APY 12-month certificate. Minimum deposit is $50,000. Balances from $1K to under $50K earn only 1.55% APY. It's also available as an IRA CD. These rates are listed in the credit union's rate table as of 1/08/2010.In addition to select employee groups, you can also qualify for membership in this credit union if you belong to certain organization groups.Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-54266145682296213212010-01-07T16:07:00.000-08:002010-01-07T16:09:49.485-08:002.00% 15-Month CD at LA Financial Credit Union in CA & AZ - Local OnlyLa Financial Credit Union is offering a special 15-month certificate with a 2.00% APY. Minimum deposit is $1,000. It's also available as an IRA certificate. This promo is listed in the credit union's promotional page as of 1/07/2010.Membership is open to those who live, work, worship, volunteer or attend school in Los Angeles County, California. Membership is also open to anyone who lives or Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-50832890065053589062010-01-07T12:00:00.000-08:002010-01-07T16:14:50.694-08:00$150 Checking Bonus at Commonwealth Bank and Trust Company for KY, IN & OH ResidentsCommonwealth Bank and Trust Company is offering up to $150 for opening its Extreme Checking Account and making 15 payments using its internet Bill Pay service. You'll get $15 for each bill payment for up to $150. Refer to the bank's promo page for more details. Below is the offer's small print:Offer valid for new Extreme Checking accounts only. Account must be open for at least 60 days to earn Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com4tag:blogger.com,1999:blog-11103840.post-35180797604478887742010-01-07T06:50:00.000-08:002010-01-07T06:54:52.537-08:00Insights into Banks' Checking Account BonusesAs we all know, banks don't give sign-up bonuses to be charitable. They hope they'll get a return on that investment. This SmartMoney article has some insights in how banks use cash bonuses to win customers. One thing that complicates bonuses, especially the best ones, is that they are often narrowly targeted. One example of this is a new $200 bonus at Capital One. According to the article:[Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-13970546272803746422010-01-06T20:06:00.001-08:002010-01-06T20:11:43.324-08:004.01% Reward Checking Account at The First National Bank of Dieterich in IL - Local OnlyThe First National Bank of Dieterich is offering a high-yield reward checking account called Prime Rewards Checking. It has the following rates and features if certain monthly requirements are met:4.01% APY on balances up to $25,0002.25% APY on portion of balance over $25,0000.20% base rate if requirements are not metNationwide ATM fee refundsThe monthly requirements include:10 debit card Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-20404956013031743052010-01-06T05:56:00.000-08:002010-01-07T21:36:57.257-08:00Velocity CU Members Approve Conversion to Private Insurance - Future of ASI?According to this American Statesman article, members of Velocity Credit Union in Texas have voted in favor to switch Velocity's deposit insurance from NCUA to private insurance from American Share Insurance Corp. (ASI). When I had asked a Velocity CSR last week about the vote, I was told the results would not be known until the end of January. I guess the credit union decided to release the Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com12tag:blogger.com,1999:blog-11103840.post-42010591859797647212010-01-06T05:21:00.000-08:002010-01-06T05:24:50.705-08:003.00% Reward Checking Account at Harborstone Credit Union in WAHarborstone Credit Union has a high-yield reward checking account called BreakFree Checking. It offers the following rates and features if certain monthly requirements are met:3.00% APY on balances up to $50,0000.05% on portion of balance over $50,0000.05% base rate if requirements are not metReimbursement of all U.S ATM feesNote, the rates are listed at the credit union's rates page. The monthlyBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com4tag:blogger.com,1999:blog-11103840.post-83350527128280412362010-01-06T04:44:00.000-08:002010-01-06T04:53:58.136-08:001.90% 9-Month CD & 1.65% 5-Month CD at EDS Credit Union in Several States - Local OnlyEDS Credit Union's rates on its certificate specials have dropped in the last couple of months, but they remain competitive. The best deal is a 1.90% APY 9-month certificate with a $50,000 minimum (1.75% APY for a $1,000 minimum). There's also a 1.65% APY 5-month certificate with a $25,000 minimum. The standard certificate rates are also fairly competitive. The most competitive include a Jumbo 24Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-10246817684930892152010-01-05T21:10:00.000-08:002010-01-05T21:14:50.971-08:003.00% 14-Month IRA CD at Apple Federal Credit Union - Available NationwideApple Federal Credit Union has again started the year with an IRA CD special. The rate is down from last year, but it's competitive in today's low-rate environment. Apple is offering a 14-Month IRA Certificate at 3.00% APY. Minimum deposit is $500, and the maximum is $500,000. It's scheduled to end on 2/20/2010. The offer is listed in the credit union's promo page as of 1/05/2010.Apple also Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com4tag:blogger.com,1999:blog-11103840.post-49359489802443120892010-01-05T21:08:00.000-08:002010-01-05T21:09:53.099-08:004.01% Reward Checking Account at Inland Northwest Bank in WA & ID - Local OnlyInland Northwest Bank is offering a high-yield reward checking account with the following rates:4.01% APY on balances up to $25,0001.01% on portion of balance over $25,0000.02% base rate if requirements are not metThe monthly requirements include:12 debit card purchases1 electronic deposit or withdrawalReceive electronic statementsAdditional features of the account regardless of the monthly Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-20355009195545781792010-01-05T11:22:00.000-08:002010-01-05T11:27:52.188-08:00How Visa and the Banks Have Profited from Signature-Based Debit CardsMany banks that offer rewards for using their debit cards require signature-based purchases instead of PIN-based purchases. Otherwise, you won't qualify for the rewards. Many reward checking accounts are like this. Also, checking account sign-up bonuses often require signature-based purchases. ING Direct's bonus that it sometimes offers for opening an Electric Orange checking account is one Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com13tag:blogger.com,1999:blog-11103840.post-69883214739142013832010-01-05T06:36:00.000-08:002010-01-05T06:39:20.628-08:00Wilshire State Bank's Competitive Flex CD - Available NationwideWilshire State Bank continues to offer a competitive rate on its Flex CD. I first reported on these Flex CDs in June 2009. Since then the rates have fallen, and the 18-month CD is no longer available. The current yield for the 12-month Flex CD is 1.75% APY as of 1/05/2010. You can get higher 1-year CD rates at banks like Ally, but they don't have these liquid features. Ally Bank's 9-month Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-87035191750327854622010-01-05T06:34:00.000-08:002010-01-06T11:25:40.420-08:00Update on PenFed CDs and CD RolloversI received info from PenFed contact yesterday concerning January CD rollovers. The good news is that those who participated in the November Certificate Reservation program will have the advertised rates honored (3.50% 3 years, 4.00% 4 years and 4.25% 7 years). Several readers in my previous PenFed post have also confirmed the same thing. However, those who missed the November Certificate Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com13tag:blogger.com,1999:blog-11103840.post-84042828619850487862010-01-05T06:31:00.000-08:002010-01-05T06:33:56.140-08:002.00% 16-Month Internet CD at Hyde Park Savings Bank in MA - Local OnlyHyde Park Savings Bank is offering a 2.00% APY 16-month internet CD. Minimum deposit is $1,000. There's also a fairly competitive 30-month CD with a 2.40% APY which can be opened on the internet or at a branch. Minimum deposit is $500. These rates are listed at the bank's rate table as of the morning of 1/05/2010.The bank provides an online application that allows electronic funding via ACH, but Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-4444023883393627922010-01-04T20:04:00.000-08:002010-01-04T20:07:00.767-08:002.50% 30-Month CD at SchoolsFirst FCU in California - Local OnlySchoolsFirst FCU has two new certificate promotions. As you might expect, the rates are down from last month. On the plus side, these new ones allow add-on deposits. The most competitive promo is the 2.50% APY 30-month certificate. The other one has a 1.25% APY for a 9-month term. This allows a one time penalty free withdrawal after 30 days. Minimum deposit is $500. These promotional rates are Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-55833969945112556242010-01-04T06:30:00.000-08:002010-01-04T06:34:11.280-08:005.51% Reward Checking Account at The Farmers State Bank in Kansas - Local OnlyThe Farmers State Bank is offering a high-yield reward checking account called Go Green Rewards Checking. It has the following rates and features if certain monthly requirements are met:5.51% APY on balances up to $25,0000.25% base rate if requirements are not metNote, the bank's rates page only lists the rates for balances under $25,000. To qualify for the high rate, you must sign up for email Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com5tag:blogger.com,1999:blog-11103840.post-81179644622759929912010-01-04T06:29:00.000-08:002010-01-04T06:30:43.980-08:002.25% 19-Month CD & 2% 9-Month CD Continues at Service Credit Union - Limited MembershipService Credit Union continues to offer to two competitive rates on its certificate promotion: 2.00% APY for 9 months and 2.25% APY for 19 months. Minimum deposit is $1,000. These are also available in an IRA. The rates are listed in the credit union's savings rates page as of 1/4/2010. The rates page now has a January date, so hopefully this promotion will last for a while.Membership is open to Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-75888595017182427222010-01-03T17:15:00.000-08:002010-01-03T17:32:06.682-08:00Review of the 2009 Bank Failures and What Depositors ExperiencedWe ended up with 140 bank closures in 2009 which was a big increase from 2008 when only 25 banks failed. From a depositor's point of view, there were two aspects of the 2009 bank closures that stood out. The first aspect is good news: very few uninsured deposits were lost. The second, however, has been onerous: many depositors have lost their high CD rates. Large Banks That FailedIn 2009 we Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com6tag:blogger.com,1999:blog-11103840.post-49314760858089396162010-01-03T17:13:00.000-08:002010-01-03T17:15:47.580-08:002.55% 25-Month CD at University of Iowa Community CU - Local OnlyUniversity of Iowa Community Credit Union is offering three competitive certificate and IRA specials:2.00% APY 15-month (2.15% over $100K)2.55% APY 25-month (ends 1/7/2010)2.75% APY 35-month, Add-On/Bump (2.90% over $100K)Minimum deposit is $1,000. The 35-month CD special has a one-time bump and add-on option. The above rates are listed at the credit union's rates page as of 1/3/2010.My last postBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-47278874987814785962010-01-03T17:11:00.000-08:002010-01-03T17:13:44.456-08:002.00% 17-Month CD & 2.25% 24-Month CD at MidFirst Bank in AZ & OK - Local OnlyMidFirst Bank continues to offer some competitive CD rates. The rates are down since my November post, but some are still competitive including the 2.00% APY 17-month CD and the 2.25% APY 24-month CD. Minimum deposit is $5,000 for the 17-month CD and $500 for the 24-month CD. These rates are listed in the bank's CD Deposit Rates page as of 1/3/10. The 2.25% APY 24-month CD is also listed in the Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-11919792397185102032010-01-03T17:09:00.000-08:002010-01-03T17:11:31.451-08:002.10% 14-Month CD at Intracoastal Bank in Florida - Local OnlyIntracoatal Bank is offering a special 14-month CD with a 2.10% APY. Minimum deposit is $1,000. New money is required along with a banking relationship. This special doesn't seem to be listed at the bank's website. It was advertised in the Daytona Beach News-Journal on 1/2/10. The ad is available online here.It appears a branch visit is required to open an account. The bank is located in Palm Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-24716931719952935942010-01-03T06:28:00.000-08:002010-01-03T06:39:28.599-08:00Recent News on Banks Under Regulatory ScrutinyLast Monday the FDIC made public November Enforcement Actions. There were 34 cease-and-desist orders. Two banks on the list that I've reported on include Advanta Bank Corp. in Utah and Equity Bank, SSB of Dallas, Texas. Both offer nationwide CDs.Dallas Morning News reported on the cease-and-desist order issued to Equity Bank:the FDIC told Equity Bank to stop operating with too many delinquent Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-79696103739781979592010-01-02T13:36:00.000-08:002010-01-02T17:35:49.032-08:00Bank Deals Weekly Summary for January 2, 2010Hot Deals, Quick Link for Rates, Recap of this week's postsHappy New Year! Let's hope that 2010 will be better for savers than 2009. Deposit rates were in decline for all of 2009. One year ago many savings accounts and 12-month CDs were paying over 3.50%. These rates are now about 2 percentage points lower.The Fed didn't help any. Before 2009 started they slashed the fed funds rate to near zero, Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com13tag:blogger.com,1999:blog-11103840.post-65629130021205841602010-01-01T04:09:00.000-08:002010-01-05T11:42:13.483-08:00Happy New Year! PenFed Raises CD Rates for JanuaryUpdate 1/05/2010: I received info from my PenFed contact about the rollover CD rates. Please refer to this new post for the details.Happy New Year! Thanks to everyone for reading, and let's hope that 2010 has some improvements for us savers.Pentagon Federal Credit Union did increase some of its CD rates for January, but I'm afraid they're 25 basis points lower than what I was told by my PenFed Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com59tag:blogger.com,1999:blog-11103840.post-41158518779150526632009-12-31T17:27:00.000-08:002009-12-31T17:32:09.844-08:00New Year's Eve Credit Union LiquidationThe last institution to fail in 2009 turned out to be a credit union. The NCUA just reported that it liquidated HeritageWest Federal Credit Union of Tooele, Utah. Chartway Federal Credit Union purchased and assumed HeritageWest Federal Credit Union’s assets, loans and shares. Unlike many credit union liquidations this year, this one wasn't tiny. It had $311 million in assets and served 40,000 Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com5tag:blogger.com,1999:blog-11103840.post-33184747531889572742009-12-31T10:16:00.000-08:002009-12-31T10:21:18.855-08:00Update on ASI, Velocity Credit Union and Private Deposit InsuranceIn September I posted on a Texas Credit Union, Velocity, which was trying to convert its NCUA federal deposit insurance to private insurance provided by American Share Insurance (ASI). Before the credit union can make this change, they must allow its members to vote on it. One of the reasons Velocity gave for this switch was the premium that NCUA was charging all credit unions to bail out the Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com7tag:blogger.com,1999:blog-11103840.post-76827113450572875672009-12-31T10:12:00.000-08:002009-12-31T10:16:25.572-08:00Competitive Money Market, Checking and CD Rates at Georgia Primary Bank - Local OnlyGeorgia Primary Bank is offering good deals on several of its deposit products. The most competitive is its money market account. It's a tiered account with rates that range from 1.65% to 2.50% APY for a $100K balance. The interest checking account has rates that range from 1.25% to 2.00% APY for a $50K balance. Both accounts require a minimum balance of $2,500 to avoid a $10 monthly fee. The Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-31140801676443179642009-12-31T10:09:00.000-08:002009-12-31T10:12:36.433-08:004.08% Reward Checking Account at Partners Financial FCU in Virginia - Local OnlyPartners Financial FCU is offering a high-yield reward checking account called Imagine Checking. The account has the following rates and features if certain monthly requirements are met:4.08% APY on balances up to $25,0000.75% APY on portion of balance over $25,0000.10% base rate if qualifications are not metRefunds natinowide ATM fees up to $25 per cycleThe monthly requirements include:10 Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-9787711708408022152009-12-31T04:14:00.000-08:002009-12-31T04:17:04.499-08:00Beware of Wrong Reports of FDIC Guarantee ChangesWhile watching NBC this morning, I heard the news anchor report that the FDIC will lower the deposit guarantee to $100,000 at the start of the new year. This was repeated twice on NBC's Early Today show. I then heard this repeated on my local NBC affiliate KXAN.Don't worry. The $250,000 FDIC guarantee is not going away tomorrow. On May 20th, legislation was signed by the President which extended Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com9tag:blogger.com,1999:blog-11103840.post-28971824081117224852009-12-30T07:13:00.000-08:002009-12-30T07:17:56.397-08:00UmbrellaBank and Imperial Capital CD Holders Take a BeatingAs I reported on December 18th, two banks that offered internet CDs failed: New South Federal Savings Bank (parent of UmbrellaBank) and Imperial Capital Bank. Beal Bank assumed the deposits of New South Federal and City National Bank assumed Imperial Capital deposits. Unfortunately, neither Beal nor City National agreed to honor existing CD rates to maturity. Depositors are free to make a Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com24tag:blogger.com,1999:blog-11103840.post-12252259972300317542009-12-30T07:11:00.000-08:002009-12-30T07:13:01.718-08:004.00% Reward Checking Account at Peoples Bank & Trust in MO - Local OnlyPeoples Bank & Trust is offering a high-yield reward checking account called Peoples Reward Checking. It has the following rates and features if certain monthly requirements are met:4.00% APY on balances up to $25,0001.00% on portion of balance over $25,0000.50% base rate if requirements are not metATM fee refunds nationwideThe monthly requirements include:12 debit card purchases1 direct Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-9109118654043023752009-12-30T07:06:00.000-08:002009-12-30T07:10:46.779-08:00Update on Chase Checking Account BonusesChase often has a $100 checking account bonus, but sometimes they offer $125. Here's a link to a new $125 bonus that's scheduled to last until 1/15/10:$125 Chase promotion page - Must be logged into your Chase account to see it.Note that in the past these $125 promotion pages have expired before the scheduled date. Credit for this find goes to this SlickDeals thread. Several coupon codes are Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com10tag:blogger.com,1999:blog-11103840.post-63293197191843801642009-12-30T05:02:00.000-08:002009-12-30T05:06:53.176-08:002.20% 14-Month CD at Blueharbor Bank in North Carolina - Local OnlyBlueharbor Bank is offering a special 14-month CD with a 2.20% APY. The bank also has a some competitive standard CD rates. The most competitive one is the 2.50% APY 25-month CD. These rates are listed in the bank's rates page as of 12/30/09.The bank continues to offer a high-yield reward checking account that pays 4.00% APY on balances up to $30K (see account review). Its basic savings account Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-62438974448456845212009-12-30T05:00:00.000-08:002010-01-09T15:50:52.900-08:002.26% 12-Month CD at 1st Financial FCU in Missouri - Local OnlyUpdate 1/09/2010: The 12-month CD rate has fallen to 2.11% APY.1st Financial FCU is offering a 2.26% APY 12-month and 18-month certificate. Minimum deposit is $1,000. These are also available as IRA certificates. This rate is listed in the credit union's rates page as of 12/30/09.The credit union also offers a high-yield rewards checking account that currently pays 4.01% APY on balances up to Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-33985978369696865692009-12-29T13:04:00.000-08:002009-12-29T13:05:41.758-08:002.15% 7-Month CD at One Georgia Bank - Atlanta Area OnlyOne Georgia Bank continues to offer several competitive deposit rates. One is a special 7-month CD with a 2.15% APY. Minimum deposit is $5,000 with new funds. The special requires a checking account with direct deposit. Maximum deposit is $100,000. The bank's standard CDs and IRAs also have competitive rates. These include a 2.15% APY 18-month CD and a 2.30% APY 24-month CD. Minimum deposit is Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-37397479139915154892009-12-29T13:02:00.000-08:002009-12-29T13:04:12.890-08:002.48% 24-Month CD & 2.02% 12-Month CD at Atlas Savings and Loan Association in New York - Local OnlyAtlas Savings and Loan Association continues to offer competitive CD and IRA CD rates. Some of the rates have fallen a little since my November post, but they remain attractive compared to what other banks are offering. The most competitive CDs as listed in the bank's rate table as of 12/29/2009 include:1.82% APY 9 months2.02% APY 12 months2.17% APY 18 months2.48% APY 24 months2.79% APY 30 Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-32262811850268917022009-12-29T12:43:00.000-08:002009-12-29T12:45:10.970-08:002.25% 12-Month CD at North Alabama Bank - Local OnlyNorth Alabama Bank is offering a 2.25% APY 12-month CD. Minimum deposit is $10,000. Early withdrawal penalty is 3 months interest. This CD isn't listed at the bank's website. A reader emailed me news of this, and I contacted the bank today (12/29/09) for more details. According to the CSR, the rate hasn't changed since April 2009, and she hasn't been told of any future changes.A branch visit is Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-75747651092332883052009-12-29T12:41:00.000-08:002009-12-29T12:43:31.958-08:002.00% 6-Month CD & 2.00% Money Market at United Financial Bank of Florida - Local OnlyUnited Financial Bank of Florida is offering very competitive CD, money market and checking account rates. There's a 2.00% APY 6-month CD. This requies that you also have the bank's money market account which isn't a difficult requirement since it also has a 2.00% APY for a minimum balance of $500. Other CD rates don't require another account. These include a 2.50% APY 24-month CD, a 2.25% APY 18Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-74679654250530797412009-12-29T05:42:00.000-08:002009-12-29T05:49:00.534-08:00How the Proposed Fed CDs Will Affect Savers?Yesterday the Federal Reserve proposed selling CDs to banks as a new tool to help it remove excess cash from the financial system when they finally implement their exit strategy. Here's how the Fed describes it:Under the proposal, the Federal Reserve Banks would offer interest-bearing term deposits to eligible institutions through an auction mechanism. Term deposits would be one of several tools Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com47tag:blogger.com,1999:blog-11103840.post-121992930678604792009-12-28T10:02:00.000-08:002010-01-14T05:15:58.839-08:002.15% 12-Month Online CD at Franklin Synergy Bank - Available NationwideUpdate 12/29/09: The 12-month eCD rate has fallen from 2.25% to 2.15% APY. High rates sure don't last long these days.Franklin Synergy Bank increased the rate of its 12-month eCD last week from 2.05% to 2.25% APY. Minimum deposit is $1,000, and the maximum is $500,000. The 2.25% eCD is listed in the bank's eProducts page as of 12/28/09.When I contacted the bank last summer, I was told that the Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com8tag:blogger.com,1999:blog-11103840.post-9036475606693588312009-12-28T06:19:00.000-08:002009-12-28T06:21:09.050-08:005.01% Reward Checking Account at St. Paul FCU in MN - Local OnlySt. Paul Federal Credit Union is offering a high-yield reward checking account with the following rates if certain monthly requirements are met:5.01% APY on balances up to $10,000For portion of balance over $10,000, the rate is the default current rate of the respective checking accountIf requirements are not met, account will earn the default current rate of the respective checking accountThe Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-81392660218656794152009-12-28T06:18:00.000-08:002009-12-28T06:19:29.788-08:004.00% Reward Checking Account at Guaranty Bank and Trust in MS - Local OnlyGuaranty Bank and Trust is offering a high-yield reward checking account called High Interest (HIP) Checking. It has the following rates and features if certain monthly requirements are met:4.00% APY on balances up to $25,0001.00% on portion of balance over $25,0000.10% base rate if requirements are not metATM fee refunds up to $15 per monthThe monthly requirements include:12 debit card Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-70698716943060914692009-12-28T06:15:00.000-08:002009-12-28T10:36:55.810-08:00$200 Checking Account Bonus at Union Bank in CA, WA and ORUnion Bank is offering up to $200 for opening its Signature Banking Checking account and for establishing qualifying services. The Signature Banking Checking has a high minimum balance requirement so this isn't a great deal, but it may be worthwhile to a few. The promo is listed on the bank's front page, and the details are described in bank's promo page. Here are the requirements:Open a Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com7tag:blogger.com,1999:blog-11103840.post-75072180247952168082009-12-27T09:18:00.000-08:002009-12-31T13:20:47.033-08:00Bank Deals Weekly Summary for December 27, 2009Hot Deals, Quick Link for Rates, Recap of this week's postsHappy Holidays! This is a reduced version of my weekly rate recap. This was a slow banking news week, but unfortunately, there continued to be a few rate cuts. As I reported yesterday, the effect on savers of this ultra-low-interest rate environment is being noticed in the media.Savings Account RatesThe biggest savings account rate cut Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-35827130857424406872009-12-26T06:16:00.000-08:002009-12-26T06:17:20.849-08:00NYTimes Article: At Tiny Rates, Saving Money Costs InvestorsI feel a little bit uneasy about pointing out this recent NYTimes article, At Tiny Rates, Saving Money Costs Investors, during the holidays. Since these types of articles are not too common in the mainstream media, I decided it was worthwhile of a post. I hope this doesn't hurt your holiday cheer.Here's a noteworthy quote by Bill Gross who was interviewed in the article:"What the average citizen Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com35tag:blogger.com,1999:blog-11103840.post-67772624604265682622009-12-24T04:58:00.000-08:002009-12-24T05:06:41.833-08:00Merry Christmas and Happy Holidays!I would like to thank all of you for your support this year, and I wish you all a safe and happy holiday season. I'll be taking a break on the postings for next few days as I visit with family.If you're looking for recent bank deals, refer to my bank deals hub where readers can post on the deals they find. For recent deals that I've reviewed, please refer to my last weekly summary. Many of these Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com26tag:blogger.com,1999:blog-11103840.post-18074424690409982792009-12-23T05:50:00.000-08:002009-12-23T05:55:31.971-08:00Useful Reward Checking Account TipsSeveral readers provided useful tips in the comments of my Friday reward checking post. I thought it would be useful to compile these into a short list. Thanks to reward checking, we are still able to get interest rates above 4% in liquid accounts. However, if you're not careful, it's easy to fail to meet the requirements. After a few months of mistakes, your effective interest rate for the year Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com16tag:blogger.com,1999:blog-11103840.post-77591114335715167492009-12-23T05:47:00.000-08:002009-12-23T05:50:18.964-08:003.04% Reward Checking Account at Old Florida National Bank in Florida - Local OnlyOld Florida National Bank is offering a high-yield reward checking account called Optimum Checking. It has the following rates and features if certain monthly requirements are met:3.04% APY on balances up to $25,0000.50% on portion of balance over $25,0000.50% base rate if requirements are not metATM fee refunds nationwide up to 6 per monthThe monthly requirements include:10 MasterCard debit cardBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-18802158765358300592009-12-23T05:43:00.000-08:002010-01-02T17:34:17.241-08:003.00% 36-Month CD at State Bank of India (California) - Local OnlyUpdate 1/02/09: The CD rates have fallen. Refer to the front page of the bank's website for the latest rates.State Bank of India (California) is offering some competitive long-term CD rates. The most competitive one is a 3.00% APY 3-year CD. The other ones include a 2.30% APY 2-year CD and a 3.40% APY 5-year CD. Minimum deposit is $1,000. These rates are listed in the bank's rate sheet as of 12/Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-7590385994346553852009-12-23T05:41:00.000-08:002009-12-23T05:43:39.775-08:003.50% 60-Month CD at City National Bank in NJ, NY & PA - Local OnlyCity National Bank is offering competitive long-term CD rates. The following rates are listed at the bank's rates page as of 12/23/09:3.50% APY 5 years and over3.00% APY 4 years to under 5 years2.50% APY 3 years to under 4 years2.25% APY 2 years to under 3 yearsMinimum deposit is $500. It appears these rates also apply to IRA CDs.A branch visit appears to be required to open an account. Branches Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-35093259703780621022009-12-22T07:56:00.000-08:002009-12-22T08:02:34.526-08:00Update on My Short List of Top Savings AccountsLast year I started compiling a short list of the top savings accounts. The intent was to identify the savings accounts that you'll want to keep for the long term. In addition to top rates, I considered financial health and account features like ACH bank-to-bank transfer service. My last list was in August. Here's a quick summary of where these accounts stand today:Bank/Credit Union 8/02/09Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com4tag:blogger.com,1999:blog-11103840.post-30794635583413809232009-12-22T07:45:00.000-08:002009-12-22T07:56:33.804-08:00Update on the 4.07% 18-Month CD ($25K Max) at Citibank via its Secured MasterCard ProgramCitibank continues to offer a 4.07% APY 18-month CD as part of its Citi Secured MasterCard program. I first posted on this deal in early August. The 4.07% APY is still listed as of 12/22/09 in the Additional Disclosures. The link to this disclosure is located at the bottom of the Citi Secured MasterCard page. It's surprising to see the rate still this high. As I mentioned before, it's possible Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com16tag:blogger.com,1999:blog-11103840.post-22418859028035798812009-12-22T07:42:00.000-08:002009-12-22T07:45:35.625-08:002.10% 15-Month CD at Bank of Fayetteville in AR - Available NationwideBank of Fayetteville is offering a special 15-month CD with a 2.10% APY. Minimum deposit is $500. This rate is listed at the bank's rates page as of 12/22/09. The CD also has a step-up option.According to the bank's service rep, you can open a CD online. The "Open an Account" link is on the left sidebar of the rates page under the "Quick Links" tab. I was told once you submit the application, a Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-69281003941197487922009-12-22T07:39:00.000-08:002009-12-22T07:42:48.529-08:002.15% Money Market Promo with Rate Guaranteed to 3/31/10 at One World Bank in Dallas - Local OnlyOne World Bank is advertising a money market account promotion with a 2.15% APY guaranteed to 3/31/2010. Minimum opening deposit is $10,000, and the maximum is $250,000. Account must be opened with new money by 12/31/09. This promo doesn't seem to be listed at the bank's website. It was advertised in today's edition of the Dallas Morning News (12/22/09). The ad is available online here.I can't Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-80835309960340126142009-12-22T07:37:00.000-08:002009-12-27T06:07:12.276-08:002.50% 24-Month CD at First American International Bank in New York City - Local OnlyUpdate 12/27/09: The 24-month and 36-month CD rates have fallen 25 basis points.First American International Bank has some competitive mid-term CD rates. These include a 2.10% APY 18-month CD, a 2.50% APY 24-month CD and a 2.75% APY 36-month CD. Minimum deposit is $500. These rates are listed at the bank's rates page as of 12/22/09. The 2-year and 3-year rates are also listed for IRAs.It appears Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-13375618049863857142009-12-21T07:05:00.000-08:002009-12-21T07:15:17.325-08:00Why Choose CDs Instead of Reward Checking Accounts?With some reward checking accounts paying 5%, it may seem like there's no reason to put any money into CDs which have rates much lower than 5%. There are still many nationwide reward checking accounts that pay around 4% APY. If you want a similar rate on a CD, you'll have to search hard and you'll have to settle for terms of at least 5 years.For those with large balances, reward checking is Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com25tag:blogger.com,1999:blog-11103840.post-55717319603112408102009-12-21T07:02:00.000-08:002009-12-21T07:05:03.563-08:003.00% Reward Checking Account at Foothill FCU in California - Local OnlyFoothill Federal Credit Union is offering a reward checking account called MyChoice Checking. The account has the following rates and features if certain monthly requirements are met:3.00% APY on balances up to $25,0000.00% base rate if qualifications are not metRefunds ATM fees nationwide up to $20 per cycleI can't find any mention of the rate for the portion of the balance above $25K. I emailedBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-82750331799759673282009-12-21T06:59:00.000-08:002009-12-21T07:02:02.538-08:003.00% 3-Year CD & Other Competitive CD Rates Continue at Pinnacle Bank in Florida - Local OnlyPinnacle Bank continues to offer competitive rates on its mid-term and long-term bump-up CDs. The rates are the same as they were in September. These include:2.50% APY 2-year3.00% APY 3-year3.25% APY 4-year3.50% APY 5-yearThe above rates are no longer listed at the bank's website. They were advertised yesterday (12/20/09) in the Orlando Sentinel. Minimum deposit is $5,000, and the maximum depositBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-87956679460224046282009-12-21T06:57:00.000-08:002009-12-21T06:59:40.563-08:003.75% Jumbo 60-Month CD at Coastline FCU in North Florida - Local OnlyCoastline Federal Credit Union is offering a 3.75% APY on its Jumbo 60-month CD with a $75,000 minimum deposit. This is also available in an IRA, but with only a $1,000 minimum. For the regular CD, the rate goes way down for small balances (2.50% APY for a $1K minimum). These rates are listed in the credit union's rates page as of 12/21/09.Once nice feature of the credit union's certificates is aBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-14229573216110140542009-12-20T12:53:00.000-08:002010-01-09T15:57:46.470-08:003.50% 48-Month CD at Rollstone Bank & Trust in MA - Local OnlyUpdate 1/09/2010: The 48-month CD special is no longer listed at the bank's website.Rollstone Bank & Trust is offering two CD specials. The most competitive is the 48-month CD special which has a 3.50% APY. The short-term special has a 1.50% APY for a 9-month term. Minimum deposit is $1,000 for the 48-month CD and $100 for the 9-month CD. Both specials are also available in an IRA. These rates Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com7tag:blogger.com,1999:blog-11103840.post-19619790176915957912009-12-20T08:36:00.000-08:002009-12-20T08:42:48.870-08:00Competitive 2- and 5-Year CDs at Northwest FCU - Available NationwideNorthwest Federal Credit Union continues to offer some competitive CD rates. Rates have actually went up since my November post. The most competitive is currently the 5-year CD with a 3.65% APY for a minimum balance of $25,000. Lower rates are available for smaller balances, and a 3.75% APY is available for a $100,000 minimum. In addition, higher rates (up 0.25%) are available to Premier CheckingBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-92006558511764758092009-12-19T13:59:00.000-08:002009-12-19T14:02:26.991-08:00Bank Deals Weekly Summary for December 19, 2009Hot Deals, Quick Link for Rates, Recap of this week's postsThe last scheduled FOMC meeting for 2009 was held this week, and as expected there were no Christmas presents for savers. The Fed continues its line on interest rates: "anticipate that economic conditions [...] are likely to warrant exceptionally low levels of the federal funds rate for an extended period." We probably saw the last bank Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com12tag:blogger.com,1999:blog-11103840.post-72295073000762347042009-12-18T18:46:00.000-08:002009-12-18T18:59:54.234-08:007 Banks Fail Including UmbrellaBank's Parent and Imperial CapitalIt looks like the total number of bank failures for 2009 will be 140. Since today is the last non-holiday Friday for 2009, the FDIC will probably take a break for the rest of 2009. Seven banks failed today, and several were sizable banks. The FDIC wasn't able to find buyers for 3 of these banks. Consequently, only the insured deposits are being covered. The $250K basic coverage limit does seem toBanking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com7tag:blogger.com,1999:blog-11103840.post-55120855897727048422009-12-18T07:57:00.000-08:002009-12-18T08:04:02.816-08:00Important Gotcha for Those with Reward Checking AccountsThe most troublesome reward checking requirement is meeting the number of required debit card purchases for each monthly cycle. If you're late in making those last required debit card purchases, you may not meet the deadline. A reader emailed me about his experience, and it shows the risks of waiting too close to the end of the cycle. Here are excerpts of his email:I'm currently having a problem Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com63tag:blogger.com,1999:blog-11103840.post-37390779833607955442009-12-18T07:55:00.000-08:002009-12-18T07:57:22.663-08:002.29% 18-Month CD at BankFirst Financial Services in MS - Local OnlyBankFirst Financial Services is offering two competitive CD rates: 2.29% APY for 18 months and 2.00% APY for 15 months. Minimum deposit for the 18-month CD is $1,000, and $2,500 for the 15-month CD. There's also an online special 6-month CD with a 1.50% APY. Unfortunately, 1.50% is now competitive for 6-month terms. These rates are listed in the bank's CD rates table as of 12/18/09.The bank also Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-7544607616885578772009-12-18T07:53:00.000-08:002009-12-18T07:55:31.513-08:002.25% 15-Month CD & 2.10% 9-Month CD at Commercial Bank in TN & KY - Local OnlyCommercial Bank is offering two very competitive CD rates: 2.10% APY for 9 months and 2.25% APY for 15 months. The 9-month CD is a special. Both have a $500 minimum deposit. These rates are listed in the bank's rates page as of 12/18/09. Note, on the front page they're listing the 15-month CD with a 2.15% APY. I've emailed the bank to find out which rate is correct.The bank also offers a Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-4979965374006461342009-12-18T07:50:00.000-08:002009-12-18T07:52:22.664-08:003.01% Reward Checking Account at Commercial Bank in TN & KY - Local OnlyCommercial Bank is offering a high-yield reward checking account called Hometown Rewards Checking. It has the following rates and features if certain monthly requirements are met:3.01% APY on balances up to $25,0000.51% APY for portion of balance over $25,0000.05% base rate if requirements are not metReimburses ATM fees nationwide per cycleThe monthly requirements include:10 debit card purchases1Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-79979154917953677902009-12-18T07:45:00.000-08:002009-12-18T07:50:04.888-08:002.07% 18-Month CD at Signature Bank in New York City - Local OnlySignature Bank made substantial cuts to their CD rates, but some of the rates remain fairly competitive. One in particular is the 18-month CD which has a 2.07% APY. They don't list the rates on their website, so I called this morning. Below are the rates as of 12/18/09:1.51% APY 6 months1.76% APY 12 months2.07% APY 18 months1.98% APY 24 months2.79% APY 36 monthsMinimum deposit is $5,000. These Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-61702903841728815392009-12-18T07:42:00.000-08:002009-12-18T07:45:21.801-08:003.56% 60-Month CD & 3.30% 48-Month CD Continue at Qualtrust Credit Union in Texas - Local OnlyQualtrust Credit Union continues to offer competitive long-term certificate rates. The following rates are listed at the credit union's rates page as of 12/18/09:3.56% APY 5 year3.30% APY 4 year2.78% APY 3 year2.52% APY 2.5 year2.27% APY 2 yearAbove the rate table, it states that rates are subject to change every Tuesday. Minimum deposit is $1,000. According to the small print, the early Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-43215033048787815672009-12-17T05:29:00.000-08:002009-12-17T05:32:14.513-08:00Flagstar Internet Money Market Rate Plummets and Is No Longer CompetitiveFlagstar Bank slashed the rate on its Express Money Market Account yesterday from 1.09% to 0.50%. This is the second major rate cut this month. Last week it slashed the rate from 1.60% to 1.09%. Before December Flagstar had maintained very competitive rates on this account since 2007. This latest change takes Flagstar out of the field of competitive internet savings accounts.Even Flagstar's own Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com8tag:blogger.com,1999:blog-11103840.post-35901709613351087272009-12-17T05:26:00.000-08:002009-12-17T05:28:58.967-08:00OneWest Bank's Competitive 5-Year CD - Benefits and Issues of Long-Term CDsMost of OneWest Bank CD rates are no longer that competitive, but it still has one of the best rates for a 5-year CD of 3.30% APY. This is listed in the bank's CD rates page as of 12/17/09.One nice feature about OneWest Bank's CDs is that its early withdrawal penalty is only 6 months of interest. Many of the banks that offer top rates on 5-year CDs have penalties of one year interest or more. In Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com1tag:blogger.com,1999:blog-11103840.post-53705898354608454742009-12-17T05:23:00.000-08:002009-12-17T05:25:42.023-08:00$50 Checking Account Bonus at Thrivent Financial Bank - Available NationwideThrivent Financial Bank is offering a $50 bonus for opening its rewards checking account. They call it a reward checking, but it's not a high-yield reward checking account. There are no debit card usage requirement, but it does require direct deposit.According to the promotions page, you have to open the account by 12/31/09 and set up recurring direct deposit of at least $100 within 90 days of Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com2tag:blogger.com,1999:blog-11103840.post-57379650804877212009-12-17T05:21:00.000-08:002009-12-17T05:23:06.060-08:003.00% Reward Checking Account at First State Bank in New York - Local OnlyFirst State Bank is offering a high-yield reward checking account called e-z Money Checking. It has the following rates if certain monthly requirements are met:3.00% APY on balances up to $30,0001.00% on portion of balance over $30,0000.20% base rate if requirements are not metThe monthly requirements include:10 debit card purchases1 ACH credit or debitReceive e-statements and maintain a valid Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-78996129894239333832009-12-17T05:20:00.001-08:002009-12-17T05:21:23.942-08:003.00% Reward Checking Account at Citizens & Northern Bank in PA - Local OnlyCitizens & Northern Bank is offering a high-yield reward checking account called e-z Money Checking. It has the following rates if certain monthly requirements are met:3.00% APY on balances up to $30,0001.00% on portion of balance over $30,0000.20% base rate if requirements are not metATM fee refunds nationwide of up to $20 per monthThe monthly requirements include:10 Visa check card purchases1 Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-54821486894560456292009-12-17T05:18:00.000-08:002009-12-27T05:00:47.646-08:002.45% 12-Month CD at Bank of Granite in North Carolina - Local OnlyUpdate 12/27/09: The 12-month special CD rate has fallen to 2.25% APY.Bank of Granite continues to offer one very competitive CD. It's a 12-month CD with a 2.45% APY. Last month this special had a 12-month term. There's also 1.75% APY 6-month CD. Minimum deposit is $5,000. These specials are listed on the bank's front page as of 12/16/2009.Bank of Granite continues to offer a reward checking Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com0tag:blogger.com,1999:blog-11103840.post-71855389741149337632009-12-16T12:28:00.000-08:002009-12-16T12:32:48.167-08:00Fed Still Saying Exceptionally Low Rates for Extended PeriodThe last scheduled FOMC meeting of 2009 finished today, and there continues to be no hint of when the Fed will start hiking rates. The Fed continues to say the same thing about keeping the federal funds rate exceptionally low for an extended period:The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, Banking Guyhttp://www.blogger.com/profile/14297114614529324881noreply@blogger.com11