6.00% 7-Month CD at a Massachusetts CU (Greylock). read and submit comments for this post

Greylock Federal Credit Union is offering a special 6.00% APY 7-month certificate of deposit. The minimum is $1,000, and it requires funds new to Greylock. This special is only valid through December 2, 2006. According to the promo page, you have to print out the promo coupon and bring it to the branch to receive this special CD.

The field of membership includes anyone who lives or works in Berkshire County, Massachusetts. See site for details. Branches are located in the cities of Pittsfield, Adams, North Adams, Lee, Great Barrington and Williamstown.

The credit union is NCUA insured. It has $880 million in assets and 61,570 members.

5.83% 7-Month CD at a Washington DC CU (Interior FCU) read and submit comments for this post

Interior FCU has updated its certificate special since my last post. Instead of a 14 month term, it's now a 7 month term. The CD rate remains at 5.83% APY with the same $1K minimum deposit. The standard rates remain very competitive ranging from a 5.27% APY 6-month CD to a 5.72% APY 48-month CD. These are available as a regular CD, a Roth or Traditional IRA CD or a Coverdell CD. You can apply for the regular CD's online.

The field of membership includes all employees and volunteers of the US Department of the Interior which includes the National Park Service and several other bureaus. There are several other select employer groups. See site for details. Note, anyone can volunteer in National Parks around the country. Although this can't be done in time for this promo, it might be useful for future promos. Refer to this article for volunteer information.

Branches are located in Washington DC and in Reston, Virginia. Membership can be done by mail and accounts can be opened online. Also, they participate in the National CO-OP Network. So branch visits may never be necessary.

The credit union is NCUA insured. It has $83 million in assets and 9,881 members.

Thanks to the reader who mentioned this credit union in the finding deals post.

5.75% 6-Month CD at an Illinois Bank (Town Center Bank) read and submit comments for this post

Town Center Bank is offering a 5.75% APY 6-month certificate of deposit special. The minimum is $2,000, and it requires opening a checking account. I was told by the CSR that both the CD and the checking account can be opened by mail even by those who live in other states.

Branches are located in Frankfort and New Lenox, Illinois which is just south of Chicago.

It's a newly established bank that has just been FDIC insured since September, 2006.

Update on $250 Checking Account Bonus at South Carolina FCU read and submit comments for this post

There are currently several good deals in South Carolina for savers. In addition to the high yield CD's at SAFE FCU of South Carolina (see post), South Carolina Federal is offering a $250 checking account bonus. I had first mentioned this on November 1st, but I thought this promotion was worthwhile enough to mention again. South Carolina Federal's field of membership is open to those in many South Carolina counties. Please refer to my previous post for more info.

5.92% 60-Month CD at a South Carolina CU - $50K+ (SAFE FCU) read and submit comments for this post

SAFE Federal Credit Union continues to offer high long-term certificate rates. The CDs include a 6.02% APY 60-month CD with a $100K minimum, a 5.92% APY 60-month CD with a $50K minimum and a 5.65% APY 60-month CD with a $1K minimum. IRA certificates of depoit have rates 0.25% higher, with the top rate of 6.27% APY for a 60-month term and a $100K minimum deposit.

This credit union has had high CD yields through most of this year. My last report on them was in September.

The field of membership includes those who live in the following South Carolina counties: Lee, Clarendon, Sumter, Kershaw, Florence, Richland and Lexington. There's also over 500 Select Employer Groups. Contact the credit union for details about other ways to qualify.

The credit union has branches in the South Carolina cities of Sumter, Bishopville, Camden, Columbia, Florence and Lexington.

SAFE Federal Credit Union is NCUA insured. It has assets over $481 million and has over 99,000 members.

ING Direct's New Checking Account Now Available to Some Customers - Rates Up to 5.30% read and submit comments for this post

ING Direct officially launched their Electric Orange checking account to targeted customers today. I logged into my ING account and noticed the invite. In addition, they provide all the details. Unfortunately, this information is only available when you're logged in.

I wasn't expecting the rate tiers. It's the best interest rate for any checking account that's nationally available. Unfortunately, you need a lot to receive this yield. Balances over $100K earn 5.30% APY. Balances between $50K and $100K earn 5.05% APY, and balances under $50K earn 3.00% APY. As is typical with rate tiers, once your balance reaches the tier, the interest for that tier is paid on the entire balance.

As has been described previously, the unique feature of this checking account is you don't get any checkbooks. They have bill pay for paying businesses, a send-paper-check feature that takes the place of writing a paper check to an individual, an electronic version of the send-paper-check called Electric Checks, and a MasterCard Debit Card for making purchases or for ATM access.

For those cases that you need to hand someone a check, you can use their send-paper-check feature and mail yourself a paper check and then hand it to the person. You'll just have to wait a few days for it to arrive by mail. This is the only issue that may make this checking account problematic.

Ideally, the individual that you need to pay would accept the Electric Check. However, they have to agree to give you their bank account number and routing number. Here's how ING describes it:

Once you review the details for accuracy and press the send button, the money will be deducted from your account and an email will be sent to your recipient. Tell them to look for it. They can then use the link within the email to go to a secure page and confirm their account information. Provided their entry matches what you initially entered, the transfer will be completed!

Here's what ING says about those concerned about giving out their account number:

We understand the importance of security when it comes to account information. However, remind them that every time they wrote a check in the past, they were disclosing their account number, even if they didn't realize it. It's at the bottom of the check.

For those not familar with ING Direct, I don't know how comfortable people will be receiving payment like this.

The other unique feature about this checking account is that there are no fees. There can be some charges which seem quite reasonable. Here's what they list:

• Overdraft Line of Credit. You pay interest if your balance drops below zero and you use your Overdraft Line of Credit. Unlike traditional banks, Electric Orange does not charge a fee to use your overdraft, and there's no fee to sign up. If you use it, you will only pay interest on the amount you borrow.
• Overnight Delivery of a Check. If you use our Send Paper Checks service to send payments via overnight courier, in those instances when you need to send money for next day delivery, the cost is $15. (1st class mail Send Paper Checks delivery is free.)
• Overnight Delivery of a Replacement Card. If you request to have a replacement Electric Orange Card sent to you via overnight courier, there is a $25 fee. There is no charge for standard delivery of a replacement Card.
• Stop Payment. If we succeed in processing your request to place a stop payment on a check that was sent using the Send Paper Checks feature or the Free Bill Pay feature, there is a $25 Stop Payment charge. (For more info on this, please see the Stop Payments section.
• Foreign Currency Conversion. We may charge you a fee of up to 2.00% of each cash advance or purchase that you make in a foreign currency after it is converted to U.S. Dollars. This fee is in addition to the fee that MasterCard may charge as part of converting the purchase to U.S. Dollars.

For free ATM access, you'll have to stick with the Allpoint Network which seems to have good national coverage. You can find a nearby Allpoint ATM here.

For those without large balances, you probably can earn more by using banks with a 5%+ online savings account attached to a no-interest checking account like at HSBC, Citibank or at WaMu. I don't know if the new features or the lack of fees are enough to outweigh the low interest of the savings account. It'll depend on what's important to you. But with no fees, there's not much risk in giving it a try. According to DelawareOnline, the Electric Orange checking account should be available to everyone starting on February 1, 2007.

Thanks to the readers who provided info on this new account.

ING Direct's Savings Account Now 4.50% - Lagging Continues read and submit comments for this post

ING Direct raised the yield on its Orange Savings Account today from 4.40% to 4.50% APY. Perhaps they're feeling the competition from all the 5%+ online savings accounts that are now available. The last savings account rate hike at ING was in early September when the APY increased from 4.35% to 4.40%. We probably won't see any new savings account promotion from ING Direct like a new Winter Save Up Sale. Their next big promo will likely be the launch of their new Electric Orange Checking Account (see post).

The table below tracks how much ING Direct's savings account rates have lagged the rates from HSBC Direct and EmigrantDirect for the last year and a half. A snap shot of the rates are captured at the end of each month. For example, at the end of August of 2006, ING Direct's APY was 4.35%, EmigrantDirect was at 5.15% and HSBC Direct was at 5.05%. So in this case, ING lagged HSBC by 70 basis points and Emigrant by 80 basis points.

How Much ING Direct has lagged
by basis points

            HSBC  Emigrant
05/31/05       0     25
06/30/05       0     25
07/31/05      10     35
08/31/05      20     20
09/30/05      35     60
10/31/05      35     60
11/30/05      50     50
12/31/05      45     20
01/31/06     100     45
02/28/06     100     45
03/31/06      80     50
04/30/06      80     50
05/31/06      40     40
06/30/06      70     45
07/31/06      70     80
08/31/06      70     80
09/30/06      65     65
10/31/06      65     65
11/29/06      55     55

The above table doesn't take into consideration ING Direct's Winter Save Up Sale early this year since that promotion was limited to only new deposits.

Before long I might have to start a new table showing how much HSBC and EmigrantDirect have lagged some new online banks like E-LOAN. Ideally, the ease of moving money between online banks should prevent the older online banks from getting too complacent. However, there's always a hassle-factor for opening a new account. Also, there's the concern about the new bank's online banking system. Will it have glitches like what we saw with E-LOAN? So HSBC and Emigrant could be safe if their competitors don't offer rates too much higher. The latest new no-minimum savings accounts is iGobanking.com which is offering a 5.30% APY (see post). That's 25 basis points above HSBC and Emgirant. It's not a large difference, but it's significant.

6.00% 24-Month CD at a North Dakota CU (Burlington Northern) read and submit comments for this post

Burlington Northern FCU is offering high rates for 24, 18 and 12 month certificates of deposit. These include a 6.00% APY 24-month CD, a 5.80% APY 18-month CD and a 5.75% APY 12-month CD. These are also available in an IRA.

The field of membership is employer based. The eligible employers include Burlington Northern Railroad, Pepsi-Cola Co., Qwest, AT&T, and several others. They have a Branch in Grand Forks, North Dakota.

The credit union is NCUA insured. It has $14.5 million in assets and 2,366 members.

6.17% 48-Month / 6.18% 60-Month CD at a DC Credit Union (GSA) read and submit comments for this post

GSA Federal Credit Union has several high yield share certificates with terms of 24 months and longer. These include a 6.18% APY 60-month CD, a 6.17% APY 48-month CD, a 5.92% APY 36-month CD and a 5.65% APY 24-month CD. The minimum deposit is $1,000.

The field of membership is employer based. Eligible employers include the General Service Administration, the Equal Employment Opportunity Commission, National Archives and several other organizations. See site for details. Branches are located in Washington, DC.

The credit union is NCUA insured. It has $25 million in assets and 5,556 members.

Thanks to the reader who mentioned this credit union in the finding deals post.

Apple Bank's Grand Yield Direct Savings Account Update read and submit comments for this post

A reader just reported that Apple Bank for Savings' online savings account called the Grand Yield Direct Savings Account is offering a $25 sign-up bonus when you use the code 789. I wasn't able to confirm this with the CSR, but she did suggest that they are having some promotions.

Please refer to my September post for the details of this account. The rate has recently gone up slightly to 5.27% APY from 5.25%. So it's near the top for a no-minimum savings account. While I was speaking to the CSR, I received more details about this account:

• They still have Electronic Funds Transfer limits of $25K per day and $75K per month
• The hold time for your initial deposit is at least 5 business days after they receive your funds plus 3 business days before the funds are received. A few readers had reported a much longer initial hold time.
• There's no fee for standard ACH transfers in our out. These are suppose to take around 3 days. Premium transfers cost $10 and are suppose to be made the next day.

Apple Bank for Savings is FDIC insured. Theapplebank.com web address is listed in the FDIC entry so you know it's legit. The bank has $7.6 billion in total assets and total liabilities of $7.0 billion. Bankrate.com gives the bank 4 out of 5 stars (sound).

Thanks to the reader Shrazzy for reporting on the bonus.

[Update 4/6/07: The Grand Yield Direct Account now requires a $2,500 minimum initial deposit. However, after the initial deposit, there are no minimums to earn the maximum interest or to avoid monthly fees.]

5.50% Savings Account - $75K Min (Kaiser Federal Bank) read and submit comments for this post

Kaiser Federal Bank is again offering the Dream Savings Account. The top tier rate is now 5.50% APY rather than 6.00% APY like it was back in September and early October (see pdf rate sheet). According to the bank's customer service rep, all other rates and features of this Dream Savings Account are the same as what I had reported in September. There's no monthly service charge as long as the balance remains above $100. Please see my September post for the full details of this account.

According to the CSR all of their deposit products except IRA's are available to people from any state. Accounts can be opened by mail. The bank has branches in the California cities of Bellflower, Covina, Fontana, Harbor City, Los Angeles, Panorama City, Pasadena and Santa Clara.

For those in California, Kaiser is still offering a 6.00% APY 5-year IRA CD with a minimum deposit of $225K of new money. They also have some decent regular CD rates. The best is currently a 5.50% APY 9-month CD (see pdf rate sheet).

With a maximum yield of only 5.50% instead of 6.00%, the savings account isn't the great deal it was back in September especially with E-LOAN still offering 5.50% APY. But if E-LOAN's drops its 5.50% rate and Kaiser is able to maintain it, it may be something to consider for those with large deposits.

Kaiser Federal bank has been FDIC insured since 1999. The bank has a 4 out of 5 star safe and sound rating at Bankrate.com.

6.00% 6-Month CD at a Georgia CU and $55 Checking Bonus (LGE FCU) read and submit comments for this post

LGE Federal Credit Union is offering a 6.00% APY 6-month certificate. The minimum deposit is $1,000. It requires a checking account, but you can get a $55 bonus when you make an initial deposit of of at least $55 into the checking account. There are some requirements to avoid monthly fees with the available checking accounts.

The field of membership is primarily employer based. There's a long list of groups that are included. Please see site for details. Branches are located in the Georgia cities of Marietta, Austell, Kennesaw, Calhoun, Rome and Atlanta.

The credit union is NCUA insured. It has $559 million in assets and 88,309 members.

New 5.30% No-Min Online Savings Account - iGObanking read and submit comments for this post

Update 10/20/09: The rate has fallen to 1.41% APY. Refer to the bottom of the post for the rate history.

The new internet bank iGObanking.com launched today with a no-minimum 5.30% APY online savings account. It looks very similar to the typical no-minimum savings account that's offered by EmigrantDirect, HSBC Direct and ING Direct. With an APY of 5.30%, it's now the highest rate for a savings account that has neither a minimum for opening or a minimum balance.

Here's the press release about the launch. iGobanking.com is a division of Flushing Savings Bank, FSB so deposits are FDIC insured (The FDIC page only has Flushing Savings' web address.) It has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com.

Their FAQ is not the best. There's no mention about hard credit inquiries, how many external links you are allowed, if savings accounts in addition to checking accounts can be linked to, or if there are limits to the amounts that can be transfered. However, from the look of the application, it appears to be a CashEdge-based system. So it's likely the ACH transfer system is flexible.

The customer service is only available from 9:00am to 5:00pm EST, so I wasn't able to get more details. I found a few important details in their Online Banking Agreement:

• "You may authorize a third party to initiate electronic funds transfers between your Account(s) and the third party's account." - So you shouldn't be limited to their transfer system for deposits or withdrawals
• "Except as indicated elsewhere, we do not charge for these electronic funds transfers." - ACH in and outgoing transfers should be free
• The nontypical fees are listed at the bottom. Some of the important ones include: $30 fee for insufficient funds and a $10 fee for early close out of savings account (within 180 days)

They also offer certificates of deposit with terms that range from 6 months to 60 months. The minimum deposit for these CDs is $500. The rates are nothing to get excited about. The maximum CD rate equals the savings account rate of 5.30% APY for 6, 12 and 18-month terms. The APY for longer terms is just 5%.

There's no mention on the website about sign-up or refer-a-friend bonuses. Without a bonus, it's hard to justify adding this account if you already have an E-LOAN, AmTrustDirect or GMAC Bank account. However, if you're looking for a no-minimum savings account, this does offer a higher rate than EmigrantDirect, ING Direct or HSBC Direct. Of course, it's impossible to tell how long they'll remain on top. Also, there's the worry about problems with a new online bank. Problems at E-LOAN (see post) and at OneUnited (see post) are examples of issues that can arise with new online banks.

11/28 Update: I was able to speak with a CSR about this savings account this morning. Here are some additional details:

• As I expected, it's a typical online savings account with no check writing and no ATM cards.
• The external linked account can be either a checking account or a savings account.
• Up to 20 links to external accounts can be done
• No fees for ACH transfers or for account inactivity
• They do a Chexsystem verification and a soft credit inquiry, but no hard credit inquiry.
• No sign-up bonus

[Edit 11/29: Updated number of external links that are allowed.

Rate History:
10/20/09: 1.41% APY
09/30/09: 1.56% APY
07/31/09: 1.67% APY
07/22/09: 1.81% APY
06/20/09: 1.91% APY
05/28/09: 2.02% APY
04/10/09: 2.12% APY.
03/04/09: 1.85% APY.
02/28/09: 2.00% APY.
02/07/09: 2.81% APY
12/23/08: 3.08% APY.
04/17/08: 3.28% APY.
03/21/08: 3.52% APY.
03/06/08: 3.86% APY.
11/27/07: 4.90% APY.
09/28/07: 5.17% APY.
11/27/06: 5.30% APY.

6.00% 50-Month / 5.80% 35-Month CD at a Nevada CU (Greater Nevada) read and submit comments for this post

Greater Nevada Credit Union has a special on two long-term share certificates. The first is a 6.00% APY 50-month CD and the second is a 5.80% APY 35-month CD. The minimum balance is $10K.

The field of membership includes residents of following the northern Nevada counties: Carson City, Douglas, Eureka, Humboldt, Lander, Lyon, Pershing, Storey, Washoe and White Pine.

Branches are located in the Nevada cities of Carson City, Reno, Sparks, Minden, Ely and West Wendover.

The credit union is NCUA insured. It has $496 million in assets and 51,351 members.

5.75% 50-Month CD at an Ohio CU (AP FCU) read and submit comments for this post

AP Federal Credit Union is offering a 5.75% 50-month certificate of deposit special. The minimum deposit is $2,000.

The field of membership includes anyone who lives, works, worships, volunteers or attends school in Lucas County, Ohio. Also, there's a long list of select employer groups. See site for details. Branches are located in Toledo.

The credit union is NCUA insured. It has $37 million in assets and 5,825 members.

5% Checking Account at an Oklahoma Bank (Legacy) read and submit comments for this post

Update 11/18/07: Please refer to this post for the latest info on this checking account.

Legacy Bank is offering a checking account called the Win/Win Checking that pays 5% APY on balances up to $50K. It requires an opening balance of at least $100. It also requires direct deposit and the use of the check card at least 12 times per month for purchasing goods or services.

I've been seeing more banks trying this high yield checking account model. The check card usage requirement is similar to the checking account City National Bank offers. City National Bank only pays 4.03% APY, but it is available to people from any state. This Legacy Bank checking account is also similar to what Presidential Bank offers, but Presidential doesn't require the check card purchases. Currently, Presidential pays 4.50% APY on its Checking Plus account for balances up to $25K, and it's available to people in any state.

Legacy Bank has branches in the Oklahoma cities of Binger, Blanchard, Duncan, Edmond, Elk City, Hammon, Hinton, Marlow, Newcastle, Oklahoma City and Weatherford. It's FDIC insured.

Joining AFCU and Opening a 6.00% 60-Month Share Certificate read and submit comments for this post

With long-term interest rates continuing to drop, I thought it may be prudent to lock in some of my money into Agriculture Federal Credit Union's 6% APY 5-year CD. AFCU just started offering this CD last Tuesday. As I mentioned in that post, anyone can be eligible to join AFCU via membership into the CityDance Ensemble organization.

The application process went smoothly. I was able to do everything online. It was about as easy as Pentagon FCU's online application (see post). Below are some of the important points in the application process:

• The online application allows you to join the CityDance organization to meet their field of membership requirements. This has a $20 fee.
• You can fund the CityDance fee, the initial savings account deposit and the CD deposit with one ACH electronic fund transfer. The ETF can be from your external savings or checking account. You'll need to enter your bank's routing number and the account number.
• The minimum savings account deposit is $5. The application listed the maximum that could be funded with this ETF as $10K.
• The CD minimum deposit is $1,000. The application didn't list a maximum limit.
• In addition to ETF, you can do initial funding with your credit card. However, you may be charged a cash advance fee by your credit card company.
• The application requires your driver license information.
• You can list up to two beneficiaries. You must have their social security numbers.
• You're asked 5 questions for identity authentication. These are based on your credit history.
• After the payment page, you'll need to print out the signature card, sign and mail it in.
• The final confirmation page will include your account number. Use this account number as your login name and your last 4 digits of your social security number as your temporary password. You can use this to log into your account. Once logged in, you'll have to update the password. I was able to log in and confirm the CD and rate.
• At the completion of the application, you should receive a confirmation email. This email will explain about the intial login procedure.

I haven't been able to get more details regarding some of the fees like the $2/month fee for share balances under $100, the account inactivity fee and the online funds transfer fee. I'll try again to contact AFCU this week.

One thing I didn't see in the application was an option for interest payments (i.e. credit back to the principal or send you a check). Also, there was no option about how to handle the CD when it matured. The Penfed application provided options for these.

As specified in AFCU's Truth in Savings page, the maximum early withdrawal penalty is 180 days of interest.

If you're concerned about the legitimacy of AFCU, you can confirm their federally insured status and their official web address at this NCUA page.

11/27 update based on a call this morning with an AFCU customer service rep.:

As was mentioned by a reader, you can maintain less than $100 in your savings account without a monthly fee if you have an aggregate balance at AFCU of at least $5K. You then only have to maintain a minimum $5 balance in your savings account.

The CSR also said that you won't be charged an inactivity fee in the savings account if you have a CD.

About the fee for the funds transfer, they don't charge if you initiate the ACH transfer from another bank.

About the CD, by default the interest will be re-invested quarterly. If you want to be paid the interest (check or transfer into savings), you'll have to call them each quarter to have it paid out.

Since the compounding is quarterly instead of daily, the APR is a little higher for a 6% APY (5.87%). For compounding daily, the APR would be 5.83% to equal a 6% APY.

ING Direct's Electric Orange Checking Account? read and submit comments for this post

Seems like it's taking ING Direct forever to launch this new Electric Orange Checking Account. The latest news from DelawareOnline is that the checking account will be made available to 400,000 of its most active customers next month. It is suppose to be made available nationally on February 1st.

I first reported on this checking account back in April when the Wall Street Journal had an article on it. That article mentioned it would launch in the summer. Rumors of the Electric Orange checking account have been around since 2003 (see this old FW thread).

The promised features have remained the same: no fees, 3% APY and a debit card with a nationwide network of surcharge-free ATMs. Customers will have to pay bills online instead of writing checks. There will be no checkbooks.

Even with savings account rates lower than many other online banks, ING Direct is still attracting customers. This article mentioned the number of customers is 4.4 million. This is up from 4 million that was quoted in the April Wall Street Journal article. I'll have to admit that ING Direct does keep things simple. I've never had a problem with my ING savings account.

5.75% 7-Month CD at a South Carolina CU (Palmetto Citizens) read and submit comments for this post

Palmetto Citizens FCU is offering a special 5.75% APY 7-month term share certificate. The minimum deposit is $500. It's also avaliable as an IRA certificate.

The field of membership includes those who live, work, worship, or attend school in Richland, Lexington, Fairfield or Newberry counties. Branches are located in Columbia, Irmo, Lexington and West Columbia, South Carolina

The credit union is NCUA insured. It has $297 million in assets and 42,563 members.

5.75% 12-Month / 5.75% 6-Month CD at a California Bank (Temecula Valley) read and submit comments for this post

Temecula Valley Bank is having a grand opening special in which they are offering a 5.75% APY certificate of deposit for terms of 6, 9 or 12 months. This is available only at their new Ontario office. The minimum is $10K, and it requires new money. This special is not listed at the bank's website. It was advertised in today's Press-Enterprise newspaper. The ad is available online here.

The bank has several branches in Southern California. The new office is located in the city of Ontario which is about 30 miles east of Los Angeles.

The bank is FDIC insured. It has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com.

Bank Deal Summary for November 25, 2006 read and submit comments for this post

This Thanksgiving week was a slow week for bank deals. CD rates continued to drop at several banks. It was the third week in a row in which E-LOAN's CD rates dropped (see post). For a $10K minimum balance, the CD rates now range from 5.20% to 5.10% APY.

I just noticed Washington Mutual is now offering online CDs called WaMu Direct CD. The best rate is 5.10% APY for 12-month term and 60-month terms. The rates are not the best, but they're better than what Bank of America offers for its online CDs.

The best CD deal that came up this week was at Agriculture FCU. They ended their 6.10% 16-month CD special, but on Tuesday, they began offering a 6.00% APY 60-month CD. The best 5-year CD yield listed at Bankrate.com is only 5.40% APY. I had been hoping to see 7% long-term CDs before the rates began to fall. But it looks like the rate peak for this cycle may have ended last July. Since the Fed ended its rate hikes, long-term CD rates have steadily declined. Seems like credit unions and small banks have been slower to cut long-term rates. So you still have a chance to lock in a 6% yield at Agriculture FCU. Please refer to this post for information on eligibility and the account opening process.

There were a few new local deals this week. Trustco of New York and Florida began a 5.75% 6-month CD special (see post). Merrill Lynch is offering a 5.65% APY 6-month CD (see post).

For those with small saving balances, there were a few new very high rate CD specials. Flagstar Bank in Georgia, Indiana and Michigan is offering a 10% APY 6-month CD with a deposit cap of $2.5K (see post). Those who live in the Miami area have a 6.99% APY 12-month CD available at Dade County FCU. It has a deposit cap of $5K (see post).

For a complete list of these recent local CD deals, refer to my local CD list below. Remember that many of these deals don't last long. Please check if the rate is still active at the bank or credit union's website. If you see that a deal has ended, a comment is much appreciated.

Thanks to all who have helped by leaving comments or sending emails on rate updates. Sorry I can't post on all of your suggestions.

The rates listed below are based on Annual Percentage Yield (APY). No minimum balances are required unless noted. MMA next to the rates indicate a money market account. Most MMAs have check writing and ATM cards. Online savings accounts usually lack both of these. The top lists include banks and credit unions with broad availability and with minimums around $10K or less. Previous weekly summaries are available for Nov 18th, Nov 11th, Nov 4th, Oct 28th, Oct 21th and Oct 14th.

As of November 25, 2006

Savings Accounts/Money Market Accounts:

• E-LOAN - 5.50% ($5K min), my post
• Superior Savings - 5.50% ($10K min), my post
• BankUnited - 5.35% (min $5K), my post
• GMAC Bank - 5.30% MMA (min $500), my post
• AmTrustDirect - 5.30% ($1K min), my post
• UFB Direct - 5.28%, my post
• Apple Bank - 5.27%, my post
• WTDirect - 5.26% ($10K min), my post
• AmboyDirect - 5.25%, my post ($25 bonus)
• OneUnited - 5.25% (min $10), my post
• Presidential - 5.25% (min $5K, only first $35K receives this rate), offers 4.50% checking, my post
• FirstFedDirect - 5.25% (min $1K) (closed to CA residents), my post
• Countrywide - 5.25% (min $10K), (5.30% $50K+) my post
• Zions Bank - 5.24% (min $1K) (5.34% $50K+), offers 3.05% free checking, my post
• UmbrellaBank.com - 5.10% MMA (min $1K) (5.15% $5K+), offers checking, my post
• MyBankingDirect - 5.10% MMA (min $5K), my post
• Mutual Bank - 5.10% MMA (min $5K), my post
• Corus Bank - 5.05% MMA (min $10K to open)
• Tennessee Commerce Bank - 5.05% (min $10K), my post
• EmigrantDirect - 5.05%, my post, (rate history)
• HSBC Direct - 5.05%, offers checking (see $25 bonus post), my post
• ETrade Bank - 5.05%, my post ($50 bonus)
• Discover Bank - 5.05% MMA (min $10K)
• CapitalOne/Costco - 5.01% MMA (min $5K, Costco members only, $25 deal for exec. members)
• Citibank - 5.00%, requires checking account, my post
• Washington Mutual - 5.00% (requires checking), my post
• CapitalOne - 4.80% (MMA has same rate, but with checks and ATM. $100 min.), my post
• Self-Help Credit Union - 4.68% MMA (min $500), my post
• VirtualBank - 4.60% (min $100), (4.86% $50K+/ 5.13% $100K+) offers checking, my post ($20 bonus)
• GE Money - 4.50% (min $4K), (5.05% for $15K+), my post ($25 bonus)
• MetLife Bank - 4.50% MMA (min $5K), my post ($50 bonus)
• EverBank - 4.41% ($1.5K min), 6.01% 3-mo promo, my post
• ING Direct - 4.40%, my post ($25 bonus), (rate history)
• Imperial Capital - 4.20% MMA ($2.5K min), offers free checking, my post
• ebank - 4.00% MMA ($1K min, rate for $10K-25K balance), offers checking
• NetBank - 3.61% MMA ($500 min), requires checking, my post ($250 deal)

3-Month Certificates of Deposit:

• EverBank - 6.01% ($1.5K min), checking account promo, see post
• VirtualBank - 5.56% (min $10K), my post
• World Savings - 5.51% (4 months) (min $10K), my post
• Imperial Capital - 5.50%, ($2K min), my post
• IndyMac Bank - 5.45% (min $5K), my post
• Countrywide - 5.30% (min $10K), my post
• FirstFedDirect - 5.26% (min $10K), my post
• GMAC Bank - 5.25% (min $500), my post
• UFB Direct - 5.25% (min $8K)
• Charles Schwab - 5.14% (min $1K), my post
• UmbrellaBank.com - 5.10% (min $1K)
• Corus Bank - 5.05% (min $10K)
• ebank - 5.00% (min $1K), 5.25% for ePremium checking customers
• ETrade Bank - 5.00% (min $1K), my post
• Self-Help Credit Union - 4.99% (min $500), my post

6-Month Certificates of Deposit:

• NASA FCU - 5.80% (7 months) (min $15K), my post
• Merrill Lynch - 5.65% (min $25K), my post
• Superior Savings - 5.60% (min $500)
• Imperial Capital - 5.55%, ($2K min), my post
• AmTrustDirect - 5.51% (min $1K) my post
• FirstFedDirect - 5.51% (min $10K), my post
• IndyMac Bank - 5.50% (min $5K), my post
• BankUnited - 5.50% ($1K min)
• Corus Bank - 5.45% (min $10K)
• World Savings - 5.40% (5 months) (min $10K), branch-only, my post
• Countrywide - 5.35% (min $10K), my post
• GMAC Bank - 5.35% (min $500), my post
• ETrade Bank - 5.30% (min $1K), my post
• UFB Direct - 5.30% (min $8K)
• Citibank - 5.25% (min $500), my post
• Self-Help Credit Union - 5.25% (min $500), my post
• NetBank - 5.25% (min $1K)
• EverBank - 5.25% ($1.5K min)
• EmigrantDirect - 5.20% (min $1K)
• UmbrellaBank.com - 5.20% (min $1K)
• E-LOAN - 5.20% ($10K min), my post
• ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
• ING Direct - 5.00%, my post
• Wells Fargo - 4.90% (5 months) (min $5K), rate and min vary by state, my post
• MetLife Bank - 4.90% ($1K min)
• VirtualBank - 4.86% (min $10K), my post

9-Month Certificates of Deposit:

• Patelco Credit Union - 5.75% ($1K min) (8 months), not NCUA insured, my post
• FirstFedDirect - 5.55% (min $10K), my post
• AmTrustDirect - 5.51% (min $1K) my post
• Countrywide - 5.50% (min $10K), my post
• Imperial Capital - 5.40% ($2K min), my post
• VirtualBank - 5.39% (min $10K), my post
• UmbrellaBank.com - 5.35% (min $1K)
• GMAC Bank - 5.30% (min $500), my post
• IndyMac Bank - 5.25% (min $5K), my post
• EmigrantDirect - 5.20% (min $1K)
• EverBank - 5.15% ($1.5K min)
• ING Direct - 5.05%, my post
• Washington Mutual - 5.00% (min $1K)

12-Month Certificates of Deposit:

• GTE FCU - 5.64% (min $500) (add-on feature) my post
• FirstFedDirect - 5.64%, (min $10K) my post
• AmTrustDirect - 5.56% (min $1K) my post
• La Jolla Bank - 5.55% (min $10K), my post
• Digital CU - 5.50% (11 month) (min $1K), my post
• Corus Bank - 5.45% (min $10K)
• Transportation Alliance Bank - 5.42% ($1K min)
• UmbrellaBank.com - 5.40% (min $1K)
• Imperial Capital - 5.40% ($2K min), my post
• Mutual Bank - 5.35% (min $2.5K) my post
• Countrywide - 5.30% (min $10K)
• ETrade Bank - 5.30% (min $1K), my post
• IndyMac Bank - 5.30% (min $5K), my post
• GMAC Bank - 5.30% (min $500), my post
• NetBank - 5.30% (min $1K), my post ($100 bonus)
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• UFB Direct - 5.25% (min $8K)
• EverBank - 5.25% ($1.5K min)
• EmigrantDirect - 5.20% (min $1K)
• E-LOAN - 5.20% ($10K min), my post
• Self-Help Credit Union - 5.18% (min $500), my post
• ING Direct - 5.10%, my post
• Washington Mutual - 5.10% (min $1K), rates vary by state
• Melrose CU - 5.09% (min $5K) my post
• MetLife Bank - 5.00% ($1K min)
• VirtualBank - 4.60% (min $10K), my post

16-Month Certificates of Deposit:

• Digital CU - 6.00% (min $500), my post

18-Month Certificates of Deposit:

• Mutual Bank - 5.40% (min $5K) my post
• AmTrustDirect - 5.33% (min $1K) my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• GMAC Bank - 5.20% (min $500)
• CapitalOne/Costco - 5.16% (min $5K, Costco members only)
• ETrade Bank - 5.15% (min $1K), my post
• E-LOAN - 5.15% ($10K min), my post
• Imperial Capital - 5.10% ($2K min), my post
• Countrywide - 5.10% (min $10K)

36-Month Certificate of Deposit:

• Mutual Bank - 5.60% (min $5K) my post
• First State Bank - 5.50% ($1K min), my post
• Fort Belvoir FCU - 5.48% (min $1K), my post
• Transportation Alliance Bank - 5.41% ($1K min)
• Pentagon Federal CU - 5.31% (min $1K), my post
• Agriculture FCU - 5.25% (min $1K), my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• AmTrustDirect - 5.21% (min $1K) my post
• Melrose CU - 5.20% (min $5K) my post
• GMAC Bank - 5.15% (min $500)
• E-LOAN - 5.10% ($10K min), my post
• Washington Mutual - 5.00% (min $1K), rates vary by state
• ETrade Bank - 5.00% (min $1K), my post
• Imperial Capital - 5.00% ($2K min), my post
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.88% (min $500), my post

48-Month Certificate of Deposit:

• Fort Belvoir FCU - 5.59% (min $1K), my post
• First State Bank - 5.50% ($1K min), my post
• Transportation Alliance Bank - 5.40% ($1K min)
• USA FCU - 5.33% (min $1K) my post
• Pentagon Federal CU - 5.32% (min $1K), my post
• Agriculture FCU - 5.25% (min $1K), my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• Melrose CU - 5.25% (min $5K) my post
• GMAC Bank - 5.15% (min $500)
• E-LOAN - 5.10% ($10K min), my post
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.86% (min $500), my post

60-Month Certificate of Deposit:

• Agriculture FCU - 6.00% (min $1K), my post
• Fort Belvoir FCU - 5.75% (min $1K), my post
• Navy FCU - 5.70% ($20K min) restrictions to membership, my post
• Members Credit Union - 5.59% (min $2K), my post
• First State Bank - 5.50% ($1K min), my post
• Transportation Alliance Bank - 5.39% ($1K min)
• Pentagon Federal CU - 5.32% (min $1K), my post
• Melrose CU - 5.30% (min $5K) my post
• AmTrustDirect - 5.27% (min $1K) my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• GMAC Bank - 5.15% (min $500)
• VirtualBank - 5.15% (min $10K), my post
• Washington Mutual - 5.10% (min $1K), rates vary by state
• E-LOAN - 5.10% ($10K min), my post
• Imperial Capital - 5.00% ($2K min), my post
• ETrade Bank - 5.00% (min $1K), my post
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.86% (min $500), my post

84-Month Certificate of Deposit:

• Navy FCU - 6.00% ($20K min) restrictions to membership, my post
• Pentagon Federal CU - 5.32% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• CapitalOne/Costco - 5.16% (min $5K, Costco members only)
• Countrywide - 5.00% (min $10K)

High Rates with Conditions - Open to All

• 10% Savings Account for kids ($500 max)
• 6.01% 3-month intro rate on checking account
• 6.00% 3-month intro rate on Money Market account
• 5.58% Money Market Account with $250K initial deposit
• 5.55% Money Market Account with $100K balance / 5.25% Business MMA
• 5.40% Money Market Account with $25K min
• 5.36% Money Market Account at Bank of America with $50K+
• 5.25% Money Market Account with $25K min

Checking and Saving Accounts at Local Banks/Credit Unions

• 6.00% Checking Account up to $25k (Arkansas)
• 5.50% Money Market Account for 3 months (New York)
• 5.25% Checking Account (Florida)
• 5.25% Money Market Account (Utah)
• 5.25% no-min online savings account and $50 Bonus (New York)
• 5.25% low-minimum online savings account (California)
• 5.15% Savings Account (Massachusetts)
• 5.11% Money Market Account (Wisconsin)
• 5.00% Money Market Account (Washington State)
• 5.10% savings account (Pennsylvania)
• 5.01% Checking Account (Wisconsin/Illinois)
• 4.75% Checking Account (Texas)

CD Specials at Local Credit Unions/Banks Over the Last Two Months

Terms of 60 Months and Over

• 6.67% 60-Month CD at a Ohio CU - $100K+ (Dayton Firefighters FCU)
• 6.37% 60-Month CD at a Maryland CU (MCT)
• 6.33% 60-Month CD at a North Carolina CU (Team and Wheel)
• 6.27% 60-Month CD at a New Jersey CU - IRA (Hamilton Horizons)
• 6.22% 60-Month CD at a California CU (Tucoemas)
• 6.20% 60-Month CD at a Massachusetts CU (Central One FCU)
• 6.17% 60-Month CD at a Washington State CU (Spokane City)
• 6.14% 60-Month CD at a Ohio CU (Cintel)
• 6.14% 120-Month CD at a Puerto Rico CU (VAPR)
• 6.01% 60-Month CD at a Texas CU (Texhillco)
• 6.00% 60-Month CD at a Ohio/Kentucky CU (Cinfed)
• 6.00% 60-Month CD at a Texas CU - IRA (Texas FCU)
• 6.00% 60-Month CD at a New Jersey CU (Paragon)
• 6.00% 84-Month CD at a Multi-State CU (Navy Federal)
• 5.98% 60-Month CD at a Texas CU (Coastal Community and Teachers)
• 5.90% 60-Month CD at a Michigan CU (Schools and Government)
• 5.90% 72-Month CD at a Missouri Bank (Garden City)
• 5.88% 60-Month CD at a Wyoming CU (First Education)
• 5.85% 60-Month CD at a New York Bank (First Central Savings)
• 5.83% 60-Month CD at a Arizona CU (Honeywell Aerospace)
• 5.82% 60-Month CD at a Texas CU (Austin Telco)
• 5.80% 72-Month CD at a Pennsylvania Bank (Armstrong County)
• 5.80% 60-Month CD at a MI/AL/MO CU (Service 1)
• 5.75% 60-Month CD at a Wisconsin Bank (Cashton)
• 5.75% 60-Month CD at a Florida CU (Bay Gulf)
• 5.75% 120-Month CD at a Pennsylvania CU (Diamond)
• 5.75% 60-Month CD at a Pennsylvania CU (Diamond)
• 5.75% 60-Month CD at a Georgia Bank (Piedmont)

Terms of 24 Months to Under 60 Months

• 6.98% 36-Month CD at a California Bank - Variable IRA (Alliance Bank)
• 6.66% 36-Month CD at a Virginia CU (Loudoun)
• 6.43% 36-Month CD at a Alabama CU (Energon)
• 6.25% 36-Month CD at a Illinois CU - Coverdell (First Northern)
• 6.17% 48-Month CD at a Maryland CU (MCT)
• 6.17% 36-Month CD at a Maryland Bank - $100K Min (CommerceFirst)
• 6.16% 14-Month CD at a Alabama CU (Energon)
• 6.14% 24-Month CD at a Missouri CU (Raytown-Lee Summit Community)
• 6.11% 24-Month CD at a California CU
• 6.11% 30-Month CD at a California CU (Tucoemas)
• 6.01% 30-Month CD at a Florida CU (SCORE FCU)
• 6.00% 24-Month CD at a New York CU - $50K Min (Palisades)
• 6.00% 36-Month CD at a Massachusetts CU (Central One FCU)
• 6.00% 40-Month CD at a Ohio CU (Glass City FCU)
• 6.00% 59-Month CD at a North Dakota CU (Town and Country)
• 5.88% 48-Month CD at a California CU (Butte)
• 5.85% 40-Month CD at a Michigan CU (Schools and Government)
• 5.82% 36-Month CD at a Ohio CU (Cintel)
• 5.75% 24-Month CD at a Texas CU (Texas Champions)
• 5.75% 36-Month CD at a North Dakota CU (Dakota Plains)
• 5.75% 48-Month CD at a New York CU (Countryside Community)
• 5.75% 36-Month CD at a Oregon CU (NW Preferred)
• 5.70% 30-Month CD at a Maryland Bank (Howard)

Terms of 12 Months to Under 24 Months

• 10.00% 12-Month CD at a Florida Bank - $1K Max (Atlantic Coast)
• 10.00% 12-Month CD at a New York CU - $2K Max (Palisades)
• 6.99% 12-Month CD at a Florida CU - $5K Max (Dade County)
• 6.70% 14-Month CD at a Louisiana CU (NAS JRB)
• 6.35% 15-Month CD at a California CU (Alisos)
• 6.14% 18-Month CD at a Wichita, Kansas CU (Campus Credit Union)
• 6.07% 13-Month CD at a LA Credit Union (Financial Partners)
• 6.05% 19-Month CD at a Minnesota CU - $100K Min (Star Choice)
• 6.00% 12-Month CD at a Texas CU (Dallas)
• 6.00% 12-Month CD at a Montana CU (Lincoln County)
• 6.00% 12-Month CD at a Dallas Bank - $125k min (ViewPoint)
• 6.00% 15-Month CD at a TX/CO Credit Union (Security Service)
• 6.00% 12-Month CD at a California CU (Ventura County)
• 6.00% 12-Month CD at a Missouri Bank (WestBridge)
• 6.00% 15-Month CD at a South Carolina CU (MCAS Beaufort)
• 6.00% 12-Month CD at a Dallas Bank - $125k min (ViewPoint)
• 6.00% 12-Month CD at a California/Nevada CU (1st United Services)
• 6.00% 15-Month CD at a Illinois CU (Northwest Community)
• 6.00% 13-Month CD at a Pennsylvania CU (Clearview)
• 6.00% 13-Month CD at a Washington State CU (Quimper Community)
• 5.97% 21-Month CD at a Massachusetts CU (NMTW)
• 5.95% 12-Month CD at a Georgia Bank (Patriot Bank)
• 5.92% 12-Month CD at a California CU (Kerns Schools)
• 5.92% 13-Month CD at a Tampa Florida CU
• 5.90% 23-Month CD at a Minnesota CU (Honeywell)
• 5.90% 12-Month CD at a Texas CU - $95K Min (Tarrant County)
• 5.88% 12-Month CD at a South Florida Bank (Sun American)
• 5.80% 12-Month CD at a Florida Bank (Freedom Bank)
• 5.75% 18-Month CD at a Miami CU (MPS)
• 5.75% 18-Month CD at a New York Bank (Park Avenue)
• 5.75% 12-Month CD at a California Credit Union (LA Times FCU)
• 5.75% 21-Month CD at a Indiana CU (Afena)
• 5.75% 12-Month CD at a Houston CU (Right Choice)
• 5.75% 12-Month CD at a North Dakota CU (Northern Tier)
• 5.75% 12-Month CD at a Georgia Bank (Piedmont)
• 5.75% 13-Month CD at a Ohio CU, plus $75 Checking Bonus (Telhio)
• 5.75% 14-Month CD at a Michigan CU (Priority Community)
• 5.70% 12-Month CD at a New York CU (Countryside Community)
• 5.65% 12-Month CD at a California Bank (Western Financial)

Terms of Under 12 Months

• 10.00% 6-Month CD at a Indiana/Michigan/Georgia Bank - $2.5K Max (Flagstar)
• 10.00% 7-Month CD at a North Carolina Bank - $2K Max (Oak Ridge)
• 10.00% 10-Month CD at a Philadelphia CU - $1K Max (American Heritage)
• 10.00% 10-Month CD at a Texas CU - $2.5K Max (Alamo FCU)
• 9.00% 9-Month CD at a Colorado CU - $2K Max (Elevations)
• 8.30% 8-Month CD at a Arizona CU - $8K Max (Arizona Holsum)
• 7.55% 3-Month CD at a California CU - $50K Max (Health Associates)
• 7.00% 7-Month CD at a Houston CU - $7K Max (MemberSource)
• 6.35% 6-Month CD at a Virginia CU (Beach Municpal)
• 6.30% 11-Month CD at a Maryland/DC/Philly CU (FedChoice)
• 6.17% 6-Month CD at a Virginia CU (Martinsville DuPont)
• 6.15% 6-Month CD at a San Antonio, Texas CU
• 6.14% 6-Month CD at a Ohio CU (Maumee Valley)
• 6.11% 8-Month CD at a Florida CU (Kennedy Space Center)
• 6.03% 6-Month CD at a Oregon CU (Clackamas Community)
• 6.00% 7-Month CD at a Connecticut CU (Dutch Point)
• 6.00% 7-Month CD at a North Dakota CU (North Star)
• 6.00% 6-Month CD at a Ohio CU (Toledo Area)
• 6.00% 6-Month CD at a New Jersey CU (Atlantic Health)
• 6.00% 3-Month CD at a New York CU (Advantage)
• 6.00% 6-Month CD at a Michigan CU (Huron River Area)
• 6.00% 5-Month CD at a Arizona Bank (Arizona Bank and Trust)
• 6.00% 6-Month CD at a Illinois/New Jersey/Indiana CU (Selfreliance)
• 6.00% 3-Month CD at a California CU (Meriwest)
• 6.00% 6-Month CD at a Ohio CU (Sharefax)
• 6.00% 6-Month CD at a Nevada CU (Moapa Valley)
• 6.00% 3-Month CD at a Virginia CU (Apple FCU)
• 6.00% 6-Month CD at a California CU (SESLOC)
• 6.00% 3-Month CD at a Connecticut CU (American Eagle)
• 6.00% 6-Month CD at a Connecticut CU (American Eagle)
• 6.00% 7-Month CD at a Oregon/Washington CU (First Tech)
• 6.00% 6-Month CD at a Missouri Bank (WestBridge)
• 6.00% 6-Month CD at a Hawaii CU (West Oahu Community)
• 6.00% 11-Month CD at a Massachusetts CU (MIT FCU)
• 6.00% 7-Month CD at a New Jersey/North Carolina CU (Proponent)
• 6.00% 6-Month CD at a Wisconsin CU (Fond du Lac)
• 6.00% 9-Month CD at a Baltimore Maryland CU (John Hopkins)
• 6.00% 4-Month CD at a Washington DC CU (HEW)
• 6.00% 10-Month CD at a Washington DC CU (HEW)
• 6.00% 7-Month CD at a New York/Pennsylvania CU (First Heritage)
• 5.90% 6-Month CD at a New York CU (Cornerstone)
• 5.90% 9-Month CD at a Georgia CU (Georgia Power)
• 5.90% 10-Month CD at a Georgia Bank (Integrity)
• 5.85% 6-Month CD at a Tennessee CU (Eastman)
• 5.85% 6-Month CD at a California/Nevada CU (1st United Services)
• 5.85% 9-Month CD at a North Dakota CU - (First Community)
• 5.80% 9-Month CD at a Georgia Bank (Seasons)
• 5.80% 8-Month CD at a California CU (San Francisco FCU)
• 5.80% 11-Month CD at a Colorado CU (Bellco)
• 5.75% 9-Month CD at a Rhode Island CU (Wave)
• 5.75% 7-Month CD at a Oregon CU (SELCO)
• 5.75% 6-Month CD at a New York Bank (Park Avenue)
• 5.75% 6-Month CD at a New York Bank (Trustco)
• 5.75% 5-Month CD at a California/North Caralina CU (Alliance)
• 5.75% 7-Month CD at a Oregon CU (Rivermark)
• 5.75% 7-Month CD at a Alabama CU (First Educators)
• 5.75% 11-Month CD at a New York CU (Capital Communications)
• 5.70% 11-Month CD at a Oregon CU and $100 Checking Bonus (Advantis)
• 5.70% 7-Month CD at a Kansas Bank (Equity)
• 5.65% 7-Month CD at a California Bank (First Private)

Savings Account/CD Alternatives

• Money Magazine article on risk-free investments
• Fidelity Money Market Fund - 4.99% 7-day yield ($100 bonus and other info)
• Paypal Money Market Fund - 5.03% 7-day yield (1% cashback debit MasterCard)
• FW Thread on Treasury Bills
• I Bond Rate Starting Nov 2006, I Bond Article, I Bonds as CD Alternatives
• SmartMoney Brokerage Survey

6.00% 60-Month CD at a Texas CU - IRA (Texas FCU) read and submit comments for this post

Texas Federal Credit Union is offeringa a 6.00% APY 60-month IRA term share certificate. The minimum deposit is $1,000, and it's available as either a Traditional or Roth IRA.

The field of membership is primarily based on select employer groups. See site for details. Branches are located in the Texas cities of Dallas, Longview, Marshall, Farmers Branch, DeSoto and Sherman.

The credit union is NCUA insured. It has $61.6 million in assets and 14,461 members.

5.75% 12-Month / 5.75% 60-Month CD at a Georgia Bank (Piedmont) read and submit comments for this post

Piedmont Bank is offering 5.75% APY on certificate of deposit terms from 12 to 60 months. The minimum is $1,000, and these are available as regular or IRA CDs. Also, these are available as business CD's. Interest may be credited to the CD or paid by check.

Branches are located in Atlanta and Norcross, Georgia. On the rates page, it states that "Rates and terms offered are limited to Piedmont Bank's market area."

The bank has been FDIC insured since 2001. It has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com.

6.00% 12-Month CD Still Available to Arizonians (Canyon State) read and submit comments for this post

Canyon State Credit Union is still offering a 6.00% APY 12-month share certificate. The minimum deposit is $1,000. There are also other competitive CD rates for terms from 6 months to 5 years. All CDs are also available as IRA certificates.

I had first reported on this CD last month. I thought it was worth mentioning again since most everyone in Arizona can qualify for membership. See their how-to-join page for more details. Branches are located in Phoenix, Goodyear, Tempe, Tucson and Payson.

The credit union is NCUA insured. It has $148 million in assets and 23,350 members.

Thanks to Mike who mentioned this CD special in the finding deals post.

[Edit 11/25/06: Looks like the credit union is not updating their website. A reader who checked at one of the branches was told this 6% CD is no longer available.]

5.75% 5-Month CD at a California/North Caralina CU (Alliance) read and submit comments for this post

Alliance Credit Union is offering a special 5.75% APY 5-month share certificate. The minimum deposit is $5,000. It requires a checking account to receive the full 5.75% APY. Without a checking account the APY is 5.50%. They do offer a free checking account with no monthly fees.

The field of membership includes anyone who lives, works, worships or attends school in the counties of Santa Clara, San Mateo and Alameda in California; and New Hanover, Pender or Brunswick counties in North Carolina. In addition, there are over 400 select employer groups in which you may qualify, and you can qualify based on family members which includes uncles, aunts, nieces, nephews and cousins.

Branches are located in the California cities of San Jose and Palo Alto, and in the North Carolina city of Wilmington.

The credit union is NCUA insured. It has $371.7 million in assets and 41,594 members.

5.75% 12-Month CD at a North Dakota CU (Northern Tier) read and submit comments for this post

Northern Tier FCU is offering a special 5.75% APY 12-month certificate of deposit. The minimum is $2,500. It requires the member to open at least two additional services. One has to be a share savings account and the other can be a checking account. They do have a free checking account with no monthly service charges or minimum balance requirements. The CD is also available in an IRA.

Membership is open to those living within a 50 mile radius of Velva and Willow City and immediate family members of current members regardless of location. Branches are located in Velva, Willow City, Butte and Minot.

The credit union is NCUA insured. It has $54.5 million in assets and 11,014 members.

6.25% 36-Month CD at an Illinois CU - Coverdell (First Northern) read and submit comments for this post

First Northern Credit Union is offering high yields on Coverdell Education Saving Account Certificates. The yields range from 6.25% APY for a 3-year term to 5.20% APY for a 6-month term. The minimum deposit is $500.

The credit union has a good FAQ (pdf) on Coverdell Education Savings Accounts. Contributions are not tax deductible, however, all earnings are tax free as long as the withdrawal is used to pay for qualified education expenses.

Other than the Coverdell CD, the credit union has a decent rate of 5.55% APY for a regular 36-month CD with a minimum deposit of $50K.

The field of membership includes anyone who lives or works in the following counties in Illinois to join: Boone, DeKalb, DuPage, Grundy, Kane, Kendall, Lee, McHenry, Ogle, Stephenson, Will and Winnebago. Branches are located in Chicago, Evanston and Rockford.

The credit union is NCUA insured. It has $221.8 million in assets and 26,612 members.

6.00% 6-Month CD at a Nevada CU (Moapa Valley) read and submit comments for this post

Moapa Valley FCU is offering a special 6.00% APY 6-month term share certificate. The minimum deposit is $5,000, and the money must be new to the credit union. Offer expires 11/30/06 (see pdf of special).

The field of membership includes residents of Moapa Valley area or Lincoln County. A minimum $25 deposit in the savings account is required for membership. Branches are located in Caliente, Logandale and Overton, Nevada.

The credit union is NCUA insured. It has $67 million in assets and 7,390 members.

iPod nano Checking Account Bonus at an Oklahoma/Kansas Bank (Fidelity) read and submit comments for this post

Fidelity Bank has a checking account special in which you can receive a free Apple iPod nano. It requires 1) opening a Platinum Checking account with a minimum deposit of $2.5K by 12/16/06, 2) signing up for direct deposit and having at least one deposit applied, 3) completing registration for online banking and bill pay, and 4) receiving an Instant Issue VISA Check Card. All requirements must be completed and presented to Oklahoma Fidelity Bank by 3/11/07. The bank's website doesn't specify that the nano is the 4GB model, however, this was in the small print of a newspaper ad that's available online here. The 4GB nano is currently selling for around $200. There's also a $50 bonus for opening a Free Checking account without any of the above requirements, and a free dinner and movie for two when you open a High Yield Interst Savings Account. Only one of the above checking account bonuses can be chosen. The bonuses are subject to Form 1099-INT Rules.

Note, the Platinum Checking account has a $11.50/month fee if minimum daily balance falls below $2,500. On the plus side, it does offer free standard checks.

Oklahoma branches are located Oklahoma City and Edmond; Kansas branches are located in Wichita and Derby. The bank is FDIC insured.

6.99% 12-Month CD at a Florida CU - $5K Max (Dade County). read and submit comments for this post

Dade County Federal Credit Union is offering a 6.99% APY 12-month certificate as part of its grand opening special. The minimum deposit is $500 and the maximum is $5,000. A Better-than-Free checking account with direct deposit is required. The offer lasts through 12/09/06.

This rate is about 1.5% higher than the rate from top nationtally available 1-year CD's. For a $5K deposit, you would earn about $75 more with this special CD.

The field of membership includes those who either live, work, worship or attend school in Miami-Dade County. You can also qualify through a select employer group or through family. See site for details.

The credit union is NCUA insured. It has $426 million in assets and 88,219 members.

5.55% Money Market Account with $100K Tier at Ascencia Bank read and submit comments for this post

Ascencia increased the rate on the top tier of its money market account from 5.25% to 5.55% APY. The top tier requires a balance of $100K. The rate drops drastically for balances under this amount. From $7.5K to $100K the rate is only 1.55%. From $1K to $7.5K it's 1.15%. If the balance falls below $1K, there's a $5/month fee. The money market account has limited check writing, and the first order of checks are free.

This money market account is clearly only a good deal for those with balances over $100K. Ascencia has a page in which they show how you can exceed $100K of FDIC insurance through different ownership options. The links point to the FDIC webpages with the official details.

For those with less than a $100K balance, Ascencia continues to have decent deals with their no-minimum savings account (at 4.75% APY) and a 5.50% APY 6-month CD and a 5.45% APY 12-month CD. The interest checking account only has 1% interest but it has no minimum balance requirements or monthly fees. The first order of checks are free.

These accounts are available to people from any state. Applicaions must be done oline. I had reported on Ascencia's savings account and CD's back in May. Please refer to that post for more info on Ascencia's account opening details and ACH features.

Ascencia Bank is based in Louisville, Kentucky and is a division of PBI Bank which is FDIC insured. Bankrate gives them 4 out of 5 stars (sound).

6.98% 36-Month CD at a California Bank - Variable IRA (Alliance Bank) read and submit comments for this post

Update: This CD has ended. Please check the bank's website for the latest CD rates.

Alliance Bank is offering a 6.98% APY 36-month variable rate IRA certificate of deposit (pdf of rate page). The minimum is $500. The interest rate is 6.75%. The rate is tied to the Prime Rate minus 1.5%. There's a 3-month interest penalty for early withdrawals. According to the CSR, this IRA can be opened by mail from any state. Alliance Bank also offers some competitive regular CD rates ranging from 5.50% APY 2-year CD to a 5.40% APY 6-month CD.

The Prime rate generally runs 3% above the Federal Funds rate. It's likely we'll start seeing some reductions in the Fed funds rates next year. If the rate reductions are small and slow, a variable CD like this that starts much higher than available fixed CD's could be a good deal. However, if rates fall like they did in 2001 in which the Prime Rate fell from 6.50% to 4.75% (see rate history), the fixed rate CD's would be the better deal. The 3-month interest penalty is better than the typical 6-month penalty for early withdrawals. This reduces the risk of losing out too much if rates do plummet.

Branches are located in Culver City, Irvine, Woodland and Burbank, California. The bank is FDIC insured. It has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com.

6.00% 6-Month CD at an Ohio CU (Sharefax) read and submit comments for this post

Sharefax Credit Union is offering a 6.00% APY 6-month certificate. The minimum deposit is $500, and money must be new to the credit union. The offer is valid through December 29, 2006.

The field of membership includes all those who live, work, worship or attend school in Clermont County, Warren County and several Ohio cities and townships in Greater Cincinnati. There's also a long list of select employee groups. Branches are located in Batavio, Cincinnati, Mason and Milford, Ohio.

Looks like Sharefax has CD promotions each year around this time. I had reported on a similar promotion in early December of last year. They still haven't improved their website. If you're looking for something, refer to their sitemap.

The credit union is NCUA insured. It has $190 million in assets and 21,621 members.

5.75% 12-Month CD at a Houston CU (Right Choice) read and submit comments for this post

Right Choice Credit Union is offering a special 5.75% APY 1-year certificate of deposit. The minimum is $500.

The field of membership includes those who live, work, worship or attend school in a region of Houston, Texas. Also employees of Halliburton and other select employer groups are eligible. See site for details.

The credit union is NCUA insured. It has $108 million in assets and 17,468 members.

Another Houston CD Deal

For those in Houston, you may still have time to get a 7.00% 7-month CD at MemberSource Credit Union. According to the credit union's website, the offer is still available through 11/30/06. Please refer to this post for more info.

5.70% 30-Month CD at a Maryland Bank (Howard) read and submit comments for this post

Howard Bank is offering a special 5.70% APY 30-month certificate of deposit. The minimum is $500, and it's available as a regular or IRA CD. There's a bump-up feature that permits a one-time rate adjustment anytime during the original term. The early withdrawal penalty is 6 months of interest.

Branches are located in Columbia, Ellicott City and Laurel, Maryland. I've sent them a message asking about out-of-state CD applications.

The bank has been FDIC insured since 2004. It has a safe and sound rating of 3 out of 5 stars (performing) at Bankrate.com.

Thanks to the reader who emailed me this CD info.

Big Drops in E-LOAN CD Rates read and submit comments for this post

For the third week in a row, E-LOAN dropped its CD rates. The savings account rate remains the same at 5.50% APY. This rate is now much higher than the rates of any of their CD's. The highest CD rate is now the 5.20% APY on the 6 and 12-month CD for deposits between $10K and $50K. The 3-to-5 year CD's now only have a rate of 5.10% APY. For deposits over $50K, the yields are 0.10% higher. The following table shows how the CD rates have changed over the last two weeks.

E-LOAN Certificate of Deposit Rate Changes

Term      pre 11/8    pre 11/15   pre 11/22    11/22
          All Tiers  $10K-$50K   $10K-$50K   $10K-$50K
6-month     5.60%       5.50%      5.45%      5.20%
12-month    5.70%       5.55%      5.50%      5.20%
18-month    5.75%       5.60%      5.45%      5.15%
2-year      5.75%       5.60%      5.40%      5.15%
3-year      5.75%       5.35%      5.30%      5.10%
4-year      5.75%       5.35%      5.30%      5.10%
5-year      5.75%       5.35%      5.30%      5.10%

Please refer to my previous E-LOAN CD post for more information.

E-LOAN Password Problem

There may be another problem at E-LOAN other than the transfer glitches (see post). Be careful when you enter your E-LOAN password. I've heard from several people that E-LOAN will lock you out of your account when there are 3 cumulative invalid password attempts. Apparently, the invalid count doesn't get reset after you type the correct password. When you get locked out, you have to call E-LOAN. With all the latest problems at E-LOAN, many have had to wait hours to get through. Hopefully, they will fix this locking feature to reset the count once you enter a correct password. It's easy to occassionally mistype your password, so it would seem that E-LOAN would be overloaded due to just this feature.

5.75% 36-Month CD at an Oregon CU (NW Preferred) read and submit comments for this post

NW Preferred Credit Union is offering a 5.75% APY 36-month certificate of deposit. The minimum is $10K and the maximum deposit is $250K. It requires money new to the credit union.

According to the CSR, this Preferred Investor CD is still available as of today, but it's a limited time offer and will end as soon as they meet a specific funding threshold. This CD is available in an IRA. The early withdrawal penalty is 90 days of interest. You are allowed partial withdrawals as long as the balance remains over $10K. The interest penalty will only be applied to the amount withdrawn.

The credit union is also offering a special 5.35% APY 18-month CD with a $500 minimum.

My last report on NW Preferred was back in February when they were offering a 5.13% 6-month CD.

The field of membership includes residents of the following Oregon communities: Stayton, Aumsville, Sublimity, Lyons, Gates, Mill City, Detroit, Idahna or Mehama. This is the area south of Portland. Also, licensed insurance professionals of Oregon, Washington or Idaho are eligible.

The credit union is NCUA insured. It has over $90 million in assets and 7,438 members.

10% 6-Month CD at an Indiana/Michigan/Georgia Bank - $2.5K Max (Flagstar) read and submit comments for this post

Flagstar Bank is offering a 10.00% APY 6-month certificate of deposit. The minimum is $500 and the maximum allowed deposit is $2,500. For new customers, you must open a checking account with direct deposit or monthly ACH payments. For existing Flagstar checking account customers, you must enroll in the Flagstar Loyalty Program by establishing a monthly ACH payment or direct deposit.

This special is not listed at Flagstar's website. It was advertised in yesterday's Fort Wayne News Sentinel. The ad is available online here. I called the CSR and was told that this special is available at all Flagstar branches in Indiana, Michigan and Georgia. The CSR also said that any checking account will qualify including the free checking account which requires only a $50 initial deposit.

The low $2.5K cap hurts this deal. With this max, you'll get about $56 more than what the $2.5K would earn in a 5.50% savings account over 6 months. You can consider this like a checking account bonus.

Flagstar Bank is FDIC insured. It has a safe and sound rating of 3 out of 5 stars (performing) at Bankrate.com.

6.00% 60-Month CD at Agriculture FCU (Open to All) read and submit comments for this post

Agriculture Federal Credit Union just increased the rate on its 5-year share certificate from 5.65% to 6.00% APY. The minimum deposit is $1,000, and it's also available in an IRA. According to the Truth in Savings page, the early withdrawal penalty is at most 180 days of interest.

The field of membership includes members of CityDance Ensemble. CityDance has open membership to anyone who pays membership dues of $20.00. This membership can be done at the same time that you apply for credit union membership. AFCU has an online membership application in which you can join CityDance for $20, join the credit union for a $5 inital deposit to the Primary Share account, and open the CD.

The FOM also includes those who live, work or worship in Washington DC plus other group affiliations.

AFCU just ended its "Let it Grow" 6.10% 16-month CD special yesterday. There must have been lots of demand for that CD because that special didn't last much longer than a week (see post). A few readers commented that they were able to join the credit and fund the CD using AFCU's online application. You can fund the AFCU accounts with a transfer from your current checking account. The transfer to the share account is limited to $10K but there doesn't seem to be a limit to the amount you can transfer into the CD.

There are a few fees at AFCU that you should be aware of. According to their schedule of fees page:

• $2/month fee if your savings account average monthly balance drops below $100
• $3.50 fee for no activiy for 6 months
• $2 fee for a standard online funds transfer and $6 for a premium transfer

AFCU offered several 6-percent-plus CDs in late spring and early summer (see post). Even after these 6% CD specials, they've maintained competitive yields on their standard CD's. For the last several months, they've maintained a 5.65% APY for the 60-month CD. With frequent CD specials and competitive standard rates, this might be a credit union to join for the long term.

Branches are located in Washington DC, Riverdale, Maryland, and Alexandria, Virginia. They also are part of National Shared Branching network in which you can use local credit unions to access your account and conduct many transactions.

AFCU is NCUA insured. It has $192 million in assets and almost 24,000 members.

Thanks to the reader who mentioned this new 6% CD.

5.65% 6-Month CD at Merrill Lynch Bank read and submit comments for this post

Merrill Lynch Bank is offering a special 5.65% APY 6-month certificate of deposit. The minimum is $25K. The funds must come from sources other than an existing Merrill Lynch relation. Offer expires December 15, 2006.

Merrill Lynch seems to offer these special CD's every few months. In May it was offering a 5.32% 6-month CD and a 5.09% 3-month CD.

Since these CDs are not being purchased directly from a bank, there are more details. Refer to the Merrill's small print for all the details. Here are some of the important ones: The CDs are sold by Merrill Lynch and held in brokerage accounts in which standard account fees may apply. The CDs are issued by Merrill Lynch Bank USA or Merrill Lynch Bank and Trust Co. Merrill Lynch limits the purchase amount of a single CD from any one Bank to $97K for six-month CDs and $98K for 3-month CDs. The limits for retirement accounts are $243K and $246K.

Both Merrill Lynch Bank USA (FDIC page) and Merrill Lynch Bank and Trust Co. (FDIC page) are FDIC insured.

Thanks to the reader who mentioned this new special in the finding deals post.

Online Banking Concerns read and submit comments for this post

USA Today has a good article on the the latest efforts by banks to strengthen security of their online banking. You may have noticed more and more banks and credit unions adding security questions and image verification to the login procedures. The latest bank that I've seen to do this is GMAC Bank. Last year Federal regulators issued requirements for banks to implement these improvements by the end of 2006.

Security is just one of the conerns about online banking. The problems at E-LOAN is another issue (see post). Whether the problems are from mistakes or from theft, you want to be able to get help from a bank within a reasonable amount of time. Many are describing their experience with E-LOAN's customer service like communicating with a black hole. Perhaps E-LOAN is overwhelmed by the number of customers trying to contact them about the transfer problems. Whatever the problem, it doesn't help build faith in online banks.

5.82% 60-Month CD at a Texas CU (Austin Telco) read and submit comments for this post

Update: The CD rates have changed. Please check the credit union's website for the latest rates.

Austin Telco FCU has some competitive rates on its long term share certificates. The jumbo CD's have the best rates which range from 5.61% APY for a 24-month CD to 5.82% APY for a 60-month CD. These require a minimum deposit of $95K. The rates for a CD with a minimum deposit of $1K range from 5.51% APY for a 24-month CD to 5.67% APY for a 60-month CD. The early withdrawal penalty is 180 days of interest. These are also available in an IRA.

Austin Telco is open to anyone living, working, worshiping or attending school in Austin's five county Metropolitan Area (Travis, Williamson, Hays, Bastrop and Caldwell Counties).

The credit union is NCUA insured. It has $427.5 million in assets and just over 59,000 members.

5.75% 60-Month / 5.75% 120-Month CD at a Pennsylvania CU (Diamond) read and submit comments for this post

Diamond Credit Union is offering high yields for its long-term jumbo share certificates. Both the 10-year and 5-year certificate have a rate of 5.75% APY. This requires a minimum deposit of $75K. The rate for $1K minimum is 5.40% APY. The early withdrawal penalty is 6 months of interest for both CDs.

To be eligible to join this credit union you must live, work, worship or attend school in Berks, Chester or Montgomery County, Pennsylvania. Branches are located in Pottstown, Wyomissing and West Reading, PA.

The credit union is NCUA insured. It has $250 million in assets and just over 29,000 members.

6.00% 3-Month CD at a California CU (Meriwest) read and submit comments for this post

Meriwest Credit Union is offering a special 6.00% APY 3-month share certificate. The minimum deposit is $1,000 and the maximum is $250K. Money must be new to the credit union.

The field of membership includes those who live, work or study in Santa Clara, Alameda, Contra Costa, San Mateo, or San Francisco County. Select Employer Groups include IBM employees and retirees. Family members and other SEG's can also qualify. See site for details.

Branches are located in San Jose, Milpitas, San Mateo, Mountain View, Palo Alto, Menlo Park and Dublin, California. There are also branches in Tucson, Arizona.

The credit union is NCUA insured. It has $1.04 billion in assets and 74,671 members.

Thanks to FW member quark255 who mentioned this special in the FW CD Thread.

6% CD For Those In Southern California

For those who live in Southern California, Ventura County Credit Union has a 6% 12-month CD special. See my previous post for more info.

5.70% 11-Month CD at an Oregon CU and $100 Checking Bonus (Advantis) read and submit comments for this post

Advantis Credit Union is offering a special 5.70% APY 11-month certificate of deposit. The minimum is $5,000 with a maximum of $100K. $5,000 must be new money (pdf promo page).

The credit union is also offering a $100 bonus for opening either a Free Checking or Interest Checking account. It requires a direct deposit during the first 60 days after the account is opened. This offer expires December 31, 2006 (pdf promo page).

The field of membership includes anyone who works for an eligible employer located in Multnomah, Clackamas, Washington, Columbia or Yamhill Counties, Oregon. See site for details. Branches are located in Portland.

The credit union is NCUA insured. It has $460 million in assets and over 35,000 members.

Thanks to the reader who mentioned this new special in the finding deals post.

For those in Clackamas County

Note, those who live in Clackamas County, Oregon can get a 6.03% 6-month CD at Clackamas Community FCU (see post).

5.75% 6-Month CD at a New York Bank (Trustco) read and submit comments for this post

Trustco Bank is advertising a 5.75% APY 6-month certificate of deposit. The minimum is $500. It requires money new to the bank. This special is not listed at the bank's website. It was advertised in the November 19th Times Union newspaper. The ad is available online here. The bank's toll-free number is 800-670-3110.

Trustco Bank has branches in New York, New Jersey, Massachusetts and Florida. I've only seen this CD advertised in this Albany, New York newspaper so it might not be available at all branches.

The bank is FDIC insured. It has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com.

5.90% 72-Month CD at a Missouri Bank (Garden City) read and submit comments for this post

Garden City Bank is offering a 5.90% APY 72-month certificate of deposit. The 60-month CD is also competitive at 5.64% APY. These have a minimum of $100. There's also a special Fall CD with a rate of 5.60% APY with a 13 month term and a $1,000 minimum.

The 5.90% CD has been available for much of this year. Earlier this year, I hadn't considered it that great of a deal while rates were still rising. But now that rates seem to have peaked and with long-term CD rates at many banks falling, a 5.90% 72-month CD is looking more attractive. Smaller banks and credit unions seem to react slower than the online banks, so it could give you a chance to lock in a high rate.

The bank is located in Garden City, Missouri which is about 30 miles southeast of Kansas City. There's no mention if this bank accepts out-of-state deposits. It's a small one-branch bank with only 26 employees, so it's likely to be only a local deal.

The bank has been FDIC insured since 1934. It has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com.

5.75% 48-Month / 5.70% 12-Month CD at a New York CU (Countryside Community) read and submit comments for this post

Countryside Community FCU is offering two CD specials (pdf). One is a 5.75% APY 48-month CD and the other is a 5.70% APY 12-month CD. Both have a minimum deposit of $2,500 and are available through 11/30/06.

The field of membership includes those who live, work, worship or attend school in Onondaga County, New York. The credit union is located in East Syracuse.

Countryside Community FCU is NCUA insured with 6,400 members and $87 million in assets.

Bank Deal Summary for November 18, 2006 read and submit comments for this post

Most of the good news for savers this week were in savings accounts. Superior Savings of New England started a new money market account called the Amazing Money Market which pays 5.50% APY for balances over $10K. For those who have had problems with E-LOAN (see post), this may be an alternative without any compromise on rates. Superior doesn't have the automated online features like E-LOAN, but it does have check writing (see post).

Another bit of good news in savings accounts was the launch of the new WTDirect Savings Account with an APY of 5.26%. It's not the highest rate and there is a $10K minimum balance to maintain this rate, but it has some nice features. At the very least it should put pressure on the others to keep the rates high (see post).

Zions Bank is staying very competitive with its Internet Money Market Account. It bumped up the rate on this to 5.30% APY this week. If you want check writing, Zions Deseret Money Market Account would be a good choice. It's similar to the Internet MMA but has some other features including check writing. The top rate for the Deseret is 5.34% APY for balances over $50K. Balances between $1K and $50K earn 5.30% APY (see post).

ETrade Bank finally launched its own no-minimum online savings account with a competitive 5.05% APY. It's called the Complete Savings Account. It has long offered an online money market account, but the rate has never been that great (except for a 3-month promo). This Complete Savings account can be a good account to have along with ETrade's money market or checking account. You can keep most of your money in the savings to earn the high interest, and if you keep over $5K, you won't have to worry about monthly fees in the checking or money market account (see post).

For CD rates this week, the news continued to be bad for savers. CD rates declined at E-LOAN, GMAC Bank and Corus Bank. Also, we saw a huge rate drop on all CDs at Melrose Credit Union. Most rates dropped by more than 50 basis points. Since I first reported on Melrose back in March of this year, they've maintained very high CD rates.

Another disappointment was the news that Agriculture FCU's 16-month CD promo is ending Monday. This "Let it Grow" promo had just come out less than 2 weeks ago. By the look of the promo (winter-like theme), it seemed it was going to last into December. Perhaps the demand was higher than they had expected. Please refer to this post for more info.

National 6% CD deals are not easy to find. There are still a few left. Digital Credit Union is still offering its 6.00% APY 16-month CD special (see post), and Everbank's 6.01% APY 3-month checking account promo is still available (see post). One commenter made the interesting point that it's becoming easier to find better long-term CD deals locally than from these online banks. Seems like the local banks are often slower to react to changing interest rate enviroments than the online banks. For a complete list of these recent local CD deals, refer to my local CD list below. Remember that many of these deals don't last long. Please check if the rate is still active at the bank or credit union's website. If you see that a deal has ended, a comment is much appreciated.

Thanks to all who have helped by leaving comments or sending emails on rate updates. Sorry I can't post on all of your suggestions.

The rates listed below are based on Annual Percentage Yield (APY). No minimum balances are required unless noted. MMA next to the rates indicate a money market account. Most MMAs have check writing and ATM cards. Online savings accounts usually lack both of these. The top lists include banks and credit unions with broad availability and with minimums around $10K or less. Previous weekly summaries are available for Nov 11th, Nov 4th, Oct 28th, Oct 21th, Oct 14th and Oct 7th.

As of November 18, 2006

Savings Accounts/Money Market Accounts:

• E-LOAN - 5.50% ($5K min), my post
• Superior Savings - 5.50% ($10K min), my post
• BankUnited - 5.35% (min $5K), my post
• GMAC Bank - 5.30% MMA (min $500), my post
• AmTrustDirect - 5.30% ($1K min), my post
• Zions Bank - 5.30% (min $1K) (5.34% $50K+), offers 3.05% free checking, my post
• UFB Direct - 5.28%, my post
• Apple Bank - 5.27%, my post
• WTDirect - 5.26% ($10K min), my post
• AmboyDirect - 5.25%, my post ($25 bonus)
• OneUnited - 5.25% (min $10), my post
• Presidential - 5.25% (min $5K, only first $35K receives this rate), offers 4.50% checking, my post
• FirstFedDirect - 5.25% (min $1K) (closed to CA residents), my post
• Countrywide - 5.25% (min $10K), (5.30% $50K+) my post
• CapitalOne/Costco - 5.14% MMA (min $5K, Costco members only, $25 deal for exec. members)
• UmbrellaBank.com - 5.10% MMA (min $1K) (5.15% $5K+), offers checking, my post
• MyBankingDirect - 5.10% MMA (min $5K), my post
• Mutual Bank - 5.10% MMA (min $5K), my post
• Corus Bank - 5.07% MMA (min $10K to open)
• Tennessee Commerce Bank - 5.05% (min $10K), my post
• EmigrantDirect - 5.05%, my post, (rate history)
• HSBC Direct - 5.05%, offers checking (see $25 bonus post), my post
• ETrade Bank - 5.05%, my post ($50 bonus)
• Discover Bank - 5.05% MMA (min $10K)
• Citibank - 5.00%, requires checking account, my post
• Washington Mutual - 5.00% (requires checking), my post
• CapitalOne - 4.80% (MMA has same rate, but with checks and ATM. $100 min.), my post
• Self-Help Credit Union - 4.68% MMA (min $500), my post
• VirtualBank - 4.60% (min $100), (4.86% $50K+/ 5.13% $100K+) offers checking, my post ($20 bonus)
• GE Money - 4.50% (min $4K), (5.05% for $15K+), my post ($25 bonus)
• MetLife Bank - 4.50% MMA (min $5K), my post ($50 bonus)
• EverBank - 4.41% ($1.5K min), 6.01% 3-mo promo, my post
• ING Direct - 4.40%, my post ($25 bonus), (rate history)
• Imperial Capital - 4.20% MMA ($2.5K min), offers free checking, my post
• ebank - 4.00% MMA ($1K min, rate for $10K-25K balance), offers checking
• NetBank - 3.61% MMA ($500 min), requires checking, my post ($250 deal)

3-Month Certificates of Deposit:

• EverBank - 6.01% ($1.5K min), checking account promo, see post
• VirtualBank - 5.56% (min $10K), my post
• World Savings - 5.51% (4 months) (min $10K), my post
• Imperial Capital - 5.50%, ($2K min), my post
• IndyMac Bank - 5.45% (min $5K), my post
• Countrywide - 5.30% (min $10K), my post
• FirstFedDirect - 5.26% (min $10K), my post
• GMAC Bank - 5.25% (min $500), my post
• UFB Direct - 5.25% (min $8K)
• Charles Schwab - 5.14% (min $1K), my post
• UmbrellaBank.com - 5.10% (min $1K)
• Corus Bank - 5.07% (min $10K)
• Self-Help Credit Union - 5.00% (min $500), my post
• ebank - 5.00% (min $1K), 5.25% for ePremium checking customers
• ETrade Bank - 5.00% (min $1K), my post

6-Month Certificates of Deposit:

• NASA FCU - 5.80% (min $15K), my post
• Superior Savings - 5.60% (min $500)
• Imperial Capital - 5.55%, ($2K min), my post
• AmTrustDirect - 5.51% (min $1K) my post
• FirstFedDirect - 5.51% (min $10K), my post
• IndyMac Bank - 5.50% (min $5K), my post
• Corus Bank - 5.50% (min $10K)
• E-LOAN - 5.45% ($10K min), my post
• World Savings - 5.45% (5 months) (min $10K), branch-only, my post
• Countrywide - 5.35% (min $10K), my post
• GMAC Bank - 5.35% (min $500), my post
• ETrade Bank - 5.30% (min $1K), my post
• UFB Direct - 5.30% (min $8K)
• Citibank - 5.25% (min $500), my post
• EverBank - 5.25% ($1.5K min)
• NetBank - 5.25% (min $1K)
• EmigrantDirect - 5.20% (min $1K)
• UmbrellaBank.com - 5.20% (min $1K)
• ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
• ING Direct - 5.00%, my post
• Wells Fargo - 4.90% (5 months) (min $5K), rate and min vary by state, my post
• MetLife Bank - 4.90% ($1K min)
• VirtualBank - 4.86% (min $10K), my post
• Self-Help Credit Union - 5.27% (min $500), my post

9-Month Certificates of Deposit:

• Patelco Credit Union - 5.75% ($1K min) (8 months), not NCUA insured, my post
• FirstFedDirect - 5.55% (min $10K), my post
• AmTrustDirect - 5.51% (min $1K) my post
• Countrywide - 5.50% (min $10K), my post
• Imperial Capital - 5.40% ($2K min), my post
• VirtualBank - 5.39% (min $10K), my post
• UmbrellaBank.com - 5.35% (min $1K)
• GMAC Bank - 5.30% (min $500), my post
• IndyMac Bank - 5.25% (min $5K), my post
• EmigrantDirect - 5.20% (min $1K)
• EverBank - 5.15% ($1.5K min)
• ING Direct - 5.05%, my post
• Washington Mutual - 5.00% (min $1K)

12-Month Certificates of Deposit:

• GTE FCU - 5.64% (min $500) (add-on feature) my post
• FirstFedDirect - 5.64%, (min $10K) my post
• AmTrustDirect - 5.60% (min $1K) my post
• E-LOAN - 5.50% ($10K min), my post
• Corus Bank - 5.50% (min $10K)
• La Jolla Bank - 5.55% (min $10K), my post
• Digital CU - 5.50% (11 month) (min $1K), my post
• Transportation Alliance Bank - 5.48% ($1K min)
• UmbrellaBank.com - 5.40% (min $1K)
• Imperial Capital - 5.40% ($2K min), my post
• Mutual Bank - 5.35% (min $2.5K) my post
• Countrywide - 5.30% (min $10K)
• ETrade Bank - 5.30% (min $1K), my post
• IndyMac Bank - 5.30% (min $5K), my post
• GMAC Bank - 5.30% (min $500), my post
• NetBank - 5.30% (min $1K), my post ($100 bonus)
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• UFB Direct - 5.25% (min $8K)
• EverBank - 5.25% ($1.5K min)
• EmigrantDirect - 5.20% (min $1K)
• MetLife Bank - 5.15% ($1K min)
• ING Direct - 5.10%, my post
• Self-Help Credit Union - 5.22% (min $500), my post
• Melrose CU - 5.09% (min $5K) my post
• VirtualBank - 4.60% (min $10K), my post

16-Month Certificates of Deposit:

• Agriculture FCU - 6.10% (min $25K), Ending on Nov 20th, my post
• Digital CU - 6.00% (min $500), my post

18-Month Certificates of Deposit:

• E-LOAN - 5.45% ($10K min), my post
• Mutual Bank - 5.40% (min $5K) my post
• AmTrustDirect - 5.33% (min $1K) my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• GMAC Bank - 5.20% (min $500)
• CapitalOne/Costco - 5.16% (min $5K, Costco members only)
• ETrade Bank - 5.15% (min $1K), my post
• Imperial Capital - 5.10% ($2K min), my post
• Countrywide - 5.10% (min $10K)

36-Month Certificate of Deposit:

• Mutual Bank - 5.60% (min $5K) my post
• First State Bank - 5.50% ($1K min), my post
• Fort Belvoir FCU - 5.48% (min $1K), my post
• Transportation Alliance Bank - 5.46% ($1K min)
• Pentagon Federal CU - 5.31% (min $1K), my post
• E-LOAN - 5.30% ($10K min), my post
• Agriculture FCU - 5.25% (min $1K), my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• AmTrustDirect - 5.21% (min $1K) my post
• Melrose CU - 5.20% (min $5K) my post
• GMAC Bank - 5.15% (min $500)
• ETrade Bank - 5.00% (min $1K), my post
• Imperial Capital - 5.00% ($2K min), my post
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.98% (min $500), my post
• Washington Mutual - 4.75% (min $1K)

48-Month Certificate of Deposit:

• Fort Belvoir FCU - 5.59% (min $1K), my post
• First State Bank - 5.50% ($1K min), my post
• Transportation Alliance Bank - 5.42% ($1K min)
• E-LOAN - 5.30% ($10K min), my post
• USA FCU - 5.33% (min $1K) my post
• Pentagon Federal CU - 5.32% (min $1K), my post
• Agriculture FCU - 5.25% (min $1K), my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• Melrose CU - 5.25% (min $5K) my post
• GMAC Bank - 5.15% (min $500)
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.97% (min $500), my post
• Washington Mutual - 4.75% (min $1K)

60-Month Certificate of Deposit:

• Fort Belvoir FCU - 5.75% (min $1K), my post
• Navy FCU - 5.70% ($20K min) restrictions to membership, my post
• Agriculture FCU - 5.65% (min $1K), my post
• Members Credit Union - 5.59% (min $2K), my post
• First State Bank - 5.50% ($1K min), my post
• Transportation Alliance Bank - 5.42% ($1K min)
• Pentagon Federal CU - 5.32% (min $1K), my post
• Melrose CU - 5.30% (min $5K) my post
• E-LOAN - 5.30% ($10K min), my post
• AmTrustDirect - 5.27% (min $1K) my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• GMAC Bank - 5.15% (min $500)
• VirtualBank - 5.15% (min $10K), my post
• Imperial Capital - 5.00% ($2K min), my post
• ETrade Bank - 5.00% (min $1K), my post
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.97% (min $500), my post

84-Month Certificate of Deposit:

• Navy FCU - 6.00% ($20K min) restrictions to membership, my post
• Pentagon Federal CU - 5.32% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• CapitalOne/Costco - 5.16% (min $5K, Costco members only)
• Countrywide - 5.00% (min $10K)

High Rates with Conditions - Open to All

• 10% Savings Account for kids ($500 max)
• 6.01% 3-month intro rate on checking account
• 6.00% 3-month intro rate on Money Market account
• 5.58% Money Market Account with $250K initial deposit
• 5.40% Money Market Account with $25K min
• 5.36% Money Market Account at Bank of America with $50K+
• 5.25% Money Market Account with $25K min

Checking and Saving Accounts at Local Banks/Credit Unions

• 6.00% Checking Account up to $25k (Arkansas)
• 5.50% Money Market Account for 3 months (New York)
• 5.50% Money Market Account for 3 months at Banco Popular (CA)
• 5.25% Checking Account (Florida)
• 5.25% Money Market Account (Utah)
• 5.25% no-min online savings account and $50 Bonus (New York)
• 5.25% low-minimum online savings account (California)
• 5.15% Savings Account (Massachusetts)
• 5.11% Money Market Account (Wisconsin)
• 5.00% Money Market Account (Washington State)
• 5.10% savings account (Pennsylvania)
• 5.01% Checking Account (Wisconsin/Illinois)
• 4.75% Checking Account (Texas)

CD Specials at Local Credit Unions/Banks Over the Last Two Months

Terms of 60 Months and Over

• 6.67% 60-Month CD at a Ohio CU - $100K+ (Dayton Firefighters FCU)
• 6.37% 60-Month CD at a Maryland CU (MCT)
• 6.33% 60-Month CD at a North Carolina CU (Team and Wheel)
• 6.27% 60-Month CD at a New Jersey CU - IRA (Hamilton Horizons)
• 6.22% 60-Month CD at a California CU (Tucoemas)
• 6.20% 60-Month CD at a Massachusetts CU (Central One FCU)
• 6.17% 60-Month CD at a Washington State CU (Spokane City)
• 6.14% 60-Month CD at a Ohio CU (Cintel)
• 6.14% 120-Month CD at a Puerto Rico CU (VAPR)
• 6.01% 60-Month CD at a Texas CU (Texhillco)
• 6.00% 60-Month CD at a New Jersey CU (Paragon)
• 6.00% 84-Month CD at a Multi-State CU (Navy Federal)
• 6.00% 60-Month CD at a Ohio/Kentucky CU (Cinfed)
• 5.98% 60-Month CD at a Texas CU (Coastal Community and Teachers)
• 5.90% 60-Month CD at a Michigan CU (Schools and Government)
• 5.88% 60-Month CD at a Wyoming CU (First Education)
• 5.85% 60-Month CD at a New York Bank (First Central Savings)
• 5.83% 60-Month CD at a Arizona CU (Honeywell Aerospace)
• 5.80% 72-Month CD at a Pennsylvania Bank (Armstrong County)
• 5.80% 60-Month CD at a MI/AL/MO CU (Service 1)
• 5.75% 60-Month CD at a Wisconsin Bank (Cashton)
• 5.75% 60-Month CD at a Florida CU (Bay Gulf)

Terms of 24 Months to Under 60 Months

• 6.66% 36-Month CD at a Virginia CU (Loudoun)
• 6.43% 36-Month CD at a Alabama CU (Energon)
• 6.17% 48-Month CD at a Maryland CU (MCT)
• 6.17% 36-Month CD at a Maryland Bank - $100K Min (CommerceFirst)
• 6.16% 14-Month CD at a Alabama CU (Energon)
• 6.14% 24-Month CD at a Missouri CU (Raytown-Lee Summit Community)
• 6.11% 24-Month CD at a California CU
• 6.11% 30-Month CD at a California CU (Tucoemas)
• 6.01% 30-Month CD at a Florida CU (SCORE FCU)
• 6.00% 24-Month CD at a New York CU - $50K Min (Palisades)
• 6.00% 36-Month CD at a Massachusetts CU (Central One FCU)
• 6.00% 40-Month CD at a Ohio CU (Glass City FCU)
• 6.00% 59-Month CD at a North Dakota CU (Town and Country)
• 5.88% 48-Month CD at a California CU (Butte)
• 5.85% 40-Month CD at a Michigan CU (Schools and Government)
• 5.82% 36-Month CD at a Ohio CU (Cintel)
• 5.75% 24-Month CD at a Texas CU (Texas Champions)
• 5.75% 36-Month CD at a North Dakota CU (Dakota Plains)

Terms of 12 Months to Under 24 Months

• 10.00% 12-Month CD at a New York CU - $2K Max (Palisades)
• 10.00% 12-Month CD at a South Carolina CU - $1K Max (Carolina Trust)
• 10.00% 12-Month CD at a Florida Bank - $1K Max (Atlantic Coast)
• 6.70% 14-Month CD at a Louisiana CU (NAS JRB)
• 6.35% 15-Month CD at a California CU (Alisos)
• 6.14% 18-Month CD at a Wichita, Kansas CU (Campus Credit Union)
• 6.07% 13-Month CD at a LA Credit Union (Financial Partners)
• 6.05% 19-Month CD at a Minnesota CU - $100K Min (Star Choice)
• 6.01% 12-Month CD at a Chicago Bank and 5.01% Checking (Standard Bank and Trust)
• 6.00% 12-Month CD at a Arizona CU (Canyon State)
• 6.00% 12-Month CD at a Missouri Bank (WestBridge)
• 6.00% 15-Month CD at a South Carolina CU (MCAS Beaufort)
• 6.00% 12-Month CD at a Dallas Bank - $125k min (ViewPoint)
• 6.00% 12-Month CD at a California/Nevada CU (1st United Services)
• 6.00% 13-Month CD at a Colorado CU (Ent)
• 6.00% 15-Month CD at a Illinois CU (Northwest Community)
• 6.00% 13-Month CD at a Pennsylvania CU (Clearview)
• 6.00% 13-Month CD at a Washington State CU (Quimper Community)
• 6.00% 12-Month CD at a Texas CU (Dallas)
• 6.00% 12-Month CD at a Montana CU (Lincoln County)
• 6.00% 12-Month CD at a Dallas Bank - $125k min (ViewPoint)
• 6.00% 15-Month CD at a TX/CO Credit Union (Security Service)
• 6.00% 12-Month CD at a California CU (Ventura County)
• 5.97% 21-Month CD at a Massachusetts CU (NMTW)
• 5.95% 12-Month CD at a Georgia Bank (Patriot Bank)
• 5.92% 12-Month CD at a California CU (Kerns Schools)
• 5.92% 13-Month CD at a Tampa Florida CU
• 5.90% 12-Month CD at a Texas CU - $95K Min (Tarrant County)
• 5.90% 23-Month CD at a Minnesota CU (Honeywell)
• 5.88% 12-Month CD at a South Florida Bank (Sun American)
• 5.80% 12-Month CD at a Florida Bank (Freedom Bank)
• 5.75% 13-Month CD at a Ohio CU, plus $75 Checking Bonus (Telhio)
• 5.75% 14-Month CD at a Michigan CU (Priority Community)
• 5.75% 18-Month CD at a Miami CU (MPS)
• 5.75% 18-Month CD at a New York Bank (Park Avenue)
• 5.75% 12-Month CD at a California Credit Union (LA Times FCU)
• 5.75% 21-Month CD at a Indiana CU (Afena)
• 5.65% 12-Month CD at a California Bank (Western Financial)

Terms of Under 12 Months

• 10.00% 7-Month CD at a North Carolina Bank - $2K Max (Oak Ridge)
• 10.00% 10-Month CD at a Philadelphia CU - $1K Max (American Heritage)
• 10.00% 10-Month CD at a Texas CU - $2.5K Max (Alamo FCU)
• 9.00% 9-Month CD at a Colorado CU - $2K Max (Elevations)
• 8.30% 8-Month CD at a Arizona CU - $8K Max (Arizona Holsum)
• 7.55% 3-Month CD at a California CU - $50K Max (Health Associates)
• 7.00% 7-Month CD at a Houston CU - $7K Max (MemberSource)
• 6.35% 6-Month CD at a Virginia CU (Beach Municpal)
• 6.30% 11-Month CD at a Maryland/DC/Philly CU (FedChoice)
• 6.17% 6-Month CD at a Virginia CU (Martinsville DuPont)
• 6.15% 6-Month CD at a San Antonio, Texas CU
• 6.14% 6-Month CD at a Ohio CU (Maumee Valley)
• 6.11% 8-Month CD at a Florida CU (Kennedy Space Center)
• 6.03% 6-Month CD at a Oregon CU (Clackamas Community)
• 6.00% 3-Month CD at a Virginia CU (Apple FCU)
• 6.00% 6-Month CD at a California CU (SESLOC)
• 6.00% 3-Month CD at a Connecticut CU (American Eagle)
• 6.00% 6-Month CD at a Connecticut CU (American Eagle)
• 6.00% 7-Month CD at a Oregon/Washington CU (First Tech)
• 6.00% 6-Month CD at a Missouri Bank (WestBridge)
• 6.00% 6-Month CD at a Hawaii CU (West Oahu Community)
• 6.00% 11-Month CD at a Massachusetts CU (MIT FCU)
• 6.00% 7-Month CD at a New Jersey/North Carolina CU (Proponent)
• 6.00% 6-Month CD at a Wisconsin CU (Fond du Lac)
• 6.00% 9-Month CD at a Baltimore Maryland CU (John Hopkins)
• 6.00% 4-Month CD at a Washington DC CU (HEW)
• 6.00% 10-Month CD at a Washington DC CU (HEW)
• 6.00% 7-Month CD at a New York/Pennsylvania CU (First Heritage)
• 6.00% 7-Month CD at a Connecticut CU (Dutch Point)
• 6.00% 7-Month CD at a North Dakota CU (North Star)
• 6.00% 6-Month CD at a Ohio CU (Toledo Area)
• 6.00% 6-Month CD at a New Jersey CU (Atlantic Health)
• 6.00% 3-Month CD at a New York CU (Advantage)
• 6.00% 6-Month CD at a Michigan CU (Huron River Area)
• 6.00% 5-Month CD at a Arizona Bank (Arizona Bank and Trust)
• 6.00% 6-Month CD at a Illinois/New Jersey/Indiana CU (Selfreliance)
• 5.90% 6-Month CD at a New York CU (Cornerstone)
• 5.90% 9-Month CD at a Georgia CU (Georgia Power)
• 5.90% 10-Month CD at a Georgia Bank (Integrity)
• 5.85% 6-Month CD at a Tennessee CU (Eastman)
• 5.85% 6-Month CD at a California/Nevada CU (1st United Services)
• 5.85% 9-Month CD at a North Dakota CU - (First Community)
• 5.80% 9-Month CD at a Georgia Bank (Seasons)
• 5.80% 8-Month CD at a California CU (San Francisco FCU)
• 5.80% 11-Month CD at a Colorado CU (Bellco)
• 5.75% 7-Month CD at a Oregon CU (Rivermark)
• 5.75% 7-Month CD at a Alabama CU (First Educators)
• 5.75% 11-Month CD at a New York CU (Capital Communications)
• 5.75% 9-Month CD at a Rhode Island CU (Wave)
• 5.75% 7-Month CD at a Oregon CU (SELCO)
• 5.75% 6-Month CD at a New York Bank (Park Avenue)
• 5.70% 7-Month CD at a Kansas Bank (Equity)
• 5.65% 7-Month CD at a California Bank (First Private)

Savings Account/CD Alternatives

• Money Magazine article on risk-free investments
• Fidelity Money Market Fund - 4.98% 7-day yield ($100 bonus and other info)
• Paypal Money Market Fund - 5.03% 7-day yield (1% cashback debit MasterCard)
• FW Thread on Treasury Bills
• I Bond Rate Starting Nov 2006, I Bond Article, I Bonds as CD Alternatives
• SmartMoney Brokerage Survey

6.00% 12-Month CD at a California CU (Ventura County) read and submit comments for this post

Ventura County Credit Union is advertising a 6.00% APY 12-month certificate. The minimum deposit is $1,000. It requires a new checking account with direct deposit to earn the 6%. Otherwise, the rate is 5.75% APY. Money must be new to the credit union. Checking account must be opened with at least $200 and with a minimum of $400 total monthly direct deposit. The checking account has no monthly service fees.

This CD special isn't listed at the credit union's website. It was advertised in today's Ventura County Star. The ad is available online here.

The field of membership includes those who live, work or attend school in Ventura or Santa Barbara Counties. There are also several select employee groups through which you can be eligible. A one-time $10 membership fee and a $5 opening balance in the share savings account is required for membership. They can be contacted at 800-339-0496.

The credit union is NCUA insured. It has $413 million in assets and 45,536 members.

Thanks to Carol who mentioned this special CD in the finding deals post.

New 5.26% Online Savings Account at WTDirect read and submit comments for this post

Update 8/19/09: The top yield has fallen from 1.76% to 1.66% APY. See bottom of the post for the rate history.

This week Wilmington Trust started a new online division at WTDirect which is offering a savings account with a 5.26% APY. To maintain this high rate, a minimum deposit of $10K is required. One unique feature is that you get 5.26% APY on any balance for the first 60 days. This allows you to open the account with a small initial deposit. You can then slowly start transferring in money as you get more comfortable with the bank. I don't like tiers like this, but if you're going to have tiers, this is a good way to do it. Once the 60 days are over, balances under $10K only earn 0.60% APY. At least there are no monthly fees.

Unless a bank does what E-LOAN did and start an online savings account with a very high rate, it's hard for a bank to set itself apart from all the other ones that are now out there. WTDirect isn't doing anything outstanding. The interest rate is very competitive, but several others are higher. However, I'm glad to see it trying to offer features to set itself apart from others. For example, it clearly states "No checking account required in order to get the high rate." (unlike Citibank and Washington Mutual). Also, it states "we allow transfers between WTDirect and your other financial institutions. Some banks require you to use their site for all online transfers." (unlike E-LOAN and ING Direct - although you can still do this kind of transfers, but it's against their TOS). They have no limit on the number of linked accounts (unlike E-LOAN, EmigrantDirect, ING Direct and many others). Another feature useful for those with lots of money is allowing transfers up to $500K per month and $200K per transaction (unlike Apple Bank's Grand Yield Direct with a limit of $25K per day and $50K per month).

All banks seem to be cautious in stating the time it takes to transfer money between banks. WTDirect is no different. It states transfers may take from 3 to 5 business days. However, they do state that transfers from another financial institution will be available "immediately upon receipt of funds in your account." (excluding the initial deposit). Another feature they advertise to set itself apart from others is that they "continue to pay interest on your transfer amount until and including the day the funds leave our bank."

WTDirect's FAQ is better than FAQ's from many other banks. They also have better contact features than many (7-day a week toll-free number, email and a secure messaging system).

One thing I couldn't find was if they do a hard credit inquiry when you open the account. I haven't tried contacting the bank's CSR about this. If you find out about this, please leave a comment.

One complaint that I have is that there's no obvious link between their parent bank, Wilmington Trust, and the WTDirect website. There's no mention of WTDirect at Wilmington Trust's website. The reason I would like to see a link is that Wilmington's FDIC page only lists the Wilmington Trust's web address, not WTDirect's address. It's not easy to prove WTDirect is part of Wilmington Trust. However, I very much doubt it isn't legitimate. But it's just nice to get confirmation from the FDIC website. Note, after some searching, I was able to find WTDirect's savings account disclosure (pdf) at Wilmington Trust's website.

Update 8/19/09: The FDIC page now lists www.wtdirect.com as the bank's primary internet address.

Wilmington Trust FSB has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com. Update 8/23/08: It now has a 3-star rating (performing) at Bankrate based on 3/31/08 data.

Thanks to the reader who mentioned this new online savings account in the finding deals post.

Rate History
08/19/09: 1.66% APY
06/03/09: 1.76% APY
03/06/09: 2.01% APY
02/05/09: 2.51% APY
01/22/09: 2.81% APY
12/01/08: 3.06% APY *
08/23/08: 3.31% APY *
02/14/08: 4.01% APY
02/09/08: 4.15% APY *
01/26/08: 4.30% APY *
11/30/07: 4.90% APY
11/18/06: 5.26% APY *
* Rate may have changed on this day

6.03% 6-Month CD at an Oregon CU (Clackamas Community) read and submit comments for this post

Clackamas Community FCU is offering a special 6.03% APY (5.85% APR) 6-month certificate. The minimum deposit is $1,000. This CD is available through December 31st.

The field of membership includes all persons who live, work, worship or attend school in Clackamas County, Oregon. Branches are located in Oregon City, Milwaukie, Canby and Damascus.

The credit union is NCUA insured. It has $173 million in assets and 23,157 members.

$25 e-Money Market Account Bonus for Existing Customers at AmTrustDirect read and submit comments for this post

A reader who has a CD with AmTrustDirect just received a message informing her that she can get a $25 bonus for opening the e-Money Market account by 12/15/06. This bonus is just for existing customers. There doesn't seem to be any additional requirements for the e-Money Market account to receive this bonus. If you close the account within 12 months of opening, they may charge the account for the value of the bonus. With no minimum balance requirements with this account, this shouldn't be an issue. The e-Money Market account has remained a very competitive online savings account. The rate has been at 5.30% APY since late September. Please refer to this post for more information on the e-Money Market Account.

Thanks to the reader who emailed me the news of this offer.

5.80% 7-Month CD at Credit Union Open to All (NASA FCU) read and submit comments for this post

NASA Federal Credit Union is offering a special 5.80% APY 7-month certificate. The minimum deposit is $15K. You are required to have or open an eligible checking account. Eligible accounts include those with eChecking or an active direct deposit in either a Free With Direct Deposit Checking or a VIPs Checking.

This special is not as good as their 6% 7-month special that ended in September. But the CD rate is higher than what's nationally available at the banks.

In addition to many select employee groups, the credit union's field of membership includes several associations in which anyone can join. The National Space Society is one. The general membership cost is $20. Membership application for the credit union can be done online or can be printed and mailed. A $5 minimum deposit to your savings account is required for membership.

Branches are located in Maryland, Washington DC and Virginia.

The credit union is NCUA insured. It has $763 million in assets and over 65K members.

5.75% 60-Month CD at a Florida CU (Bay Gulf) read and submit comments for this post

Bay Gulf Credit Union is offering several high yield certificates. These include a 5.75% APY 60-month CD, a 5.65% APY 48-month CD and a 5.55% APY 36-month CD. All have a minimum deposit of $500. These same rates are available in IRA certificates.

The field of membership includes anyone who lives, works or attends schools in area around Tampa Bay, Florida. See site for complete list of zip codes. Individuals over 50 who live in the Florida counties of Hillsborough, Pinellas, Pasco, Polk, Hernando, Sarasota, Manatee or Lee can be eligible via joining the Premier Partners 50-Plus Club for a $10 fee.There's also a long list of select employer groups. In addition, you can be eligible to join via family including nieces, nephews, cousins, aunts and uncles.

Branches are located in Tampa, Brandon and St. Petersburg.

The credit union is NCUA insured. It has $211 million in assets and 26,377 members.

5.75% 60-Month CD at a Wisconsin Bank (Cashton) read and submit comments for this post

Bank of Cashton has a 5-year certificate of deposit with a rate of 5.75% APY. The minimum is $5,000. I called the bank at 608-654-5121 (note their toll-free number is all automated) for further details. The early withdrawal penalty is 3 months of interest. It's not available in an IRA. Their IRA's have lower rates. The CSR said that they may be able to open the account by mail, but wasn't sure about out-of-state deposits.

The bank is located in Cashton, Wisconsin.

The bank has been FDIC insured since 1934. It's a small bank with only 14 employees so they may not be able to handle out-of-state deposits. It has a safe and sound rating of 3 out of 5 stars (performing) at Bankrate.com.

6.10% 16-Month CD at Agriculture FCU Expires End of Monday read and submit comments for this post

According to the AFCU's customer service rep, the Let It Grow Certificate Special will be ending at the end of next Monday. I called after I noticed the 16-month CD is no longer being shown as an option in the online application, and just this morning, it doesn't seem to be listed on the website. The CSR said that this CD can't be funded directly from the online application. She recommended to fund your savings account online and then call to have the money transfered into the CD.

This credit union is available to anyone. For more information about this special and this credit union, please refer to my post.

5.50% Money Market Account at Superior Savings of New England ($10K+) read and submit comments for this post

Superior Savings of New England, N.A. just started to offer a money market account called the Amazing Money Market with an APY of 5.50% for balances of over $10K. The bank doesn't have this listed yet on its website, but I confirmed it by calling their toll-free number (1-877-rate-plus). For balances between $10K and $2.5K, the interest rate drops down to 2% APY. No interest is earned for balances below $2.5K and there's a $10/month fee.

In terms of features, this Amazing MMA is very similar to the Superior MMA that came out last August (see post). The account can must be opened my mail and is available to people in any state. Once the account has been established, you can access it through the online banking application. They don't offer a bank-to-bank ACH transfer service, but you can initiate transfers from your accounts at other banks.

One nice thing is that if you already have the Superior MMA, you can call and request to be upgraded to this new Amazing MMA. In the past they weren't as accommodating. Over the last year, Superior Savings has come out with a new special money market account with better rates and/or lower minimums every few months.

Note, Superior is also offering a competitive 6-month CD with an APY of 5.60%. The minimum is $500.

The bank has two branches in Branford, Connecticut and in Bronx, New York. It has been FDIC insured since 1960. It has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com.

Thanks to the reader who emailed me news of this account.

5.75% 21-Month CD at an Indiana CU (Afena) read and submit comments for this post

Afena FCU is offering a certificate special with a 21 month term and a 5.75% APY. The minimum deposit is $1,000.

The field of membership includes those who live, work or worship in Grant or Wabash County, Indiana. Also, you can be eligible to join if your relative meets the above requirement.

The credit union is NCUA insured. It has $41 million in assets and 6,640 members.

5.75% 36-Month CD at a North Dakota CU (Dakota Plains) read and submit comments for this post

Dakota Plains Credit Union is offering a 5.75% APY 36-month share certificate. The minimum deposit is $10K. Higher rates may be negotiated for deposits over $25K.

The field of membership includes anyone living in a 75 mile radius of the home office, Edgeley, ND. Within the first 50 mile radius, a member's immediate family is also eligible for membership.

The credit union is NCUA insured. It has $22.2 million in assets and 2,463 members.

6.00% APY 6-Month CD at a Pennsylvania CU (Erie Community) read and submit comments for this post

Erie Community Credit Union is offering a 6.00% APY 6-month certificate special. The minimum deposit is $2,500. New money is required. The offer ends November 30, 2006.

The field of membership includes all persons who live, work, worship, or attend school in Erie County, PA.

The credit union is NCUA insured. It has $80 million in assets and 18,746 members.

ETrade's New High Yield Online Savings Account read and submit comments for this post

ETrade has just started a new online savings account called the Complete Savings. It's similar to HSBC's or EmigrantDirect's online savings account with no minimums, no monthly fees and no rate tiers. And like those two banks, the current rate is 5.05% APY.

Unlike ETrade's Money Market account, there are no checks or ATM cards. For those who don't need these features, it's a much better deal than the money market account which has monthly fees when minimums are not met and a low rate of only 3.25% APY for balances between $5K and $50K.

A commenter mentioned a good point about those who already have an ETrade Money Market account or those thinking about signing up for both the money market account and this Complete Savings account. If you keep at least $5K in this Complete Savings account you can avoid monthly fees on the money market account since fees are waived for $5K in combined bank balances. This allows you to earn a decent rate on your money and allows you to have check writing and an ATM card. Transfers between these accounts can be done instantly online. If you decide on this, don't forget ETrade's money market promo. The latest money market promo is good through November 30, 2006. It gives you a 3-month 5.28% APY and a $50 sign-up bonus. See post for more info.

One note about the Complete Savings Account is that it requires that you agree to electronic delivery of statements for this account and any other ETrade bank accounts that you have.

I called ETrade to get further details. Unfortunately, I was told there's no sign-up bonus. Also, I was told there's only a soft credit pull (not a hard pull). Others have confirmed only a soft pull on the money market account.

The CSR wasn't absolutely sure about the early closeout fee, but he thought it was the same as the MMA ($10 when closed before 120 days). But with no minimum or monthly fees, there's not much of a need to close it out. See this ETrade fee page for info on other potential fees.

The CSR said that this Complete Savings uses the same ACH system as the brokerage and money market accounts. It's called the Quick Transfer and it allows unlimited links to any external checking or savings accounts. Incoming and outgoing transfers are free. There's the typical limit of 6 withdrawals per month.

ETrade Bank is FDIC insured. Note, this covers their banking operation and not their brokerage. It has a safe and sound rating of 3 out of 5 stars (performing) at Bankrate.com.

Thanks to the reader who mentioned this new account in the finding deals post.

5.75% 12-Month CD at a California Credit Union (LA Times FCU) read and submit comments for this post

Los Angeles Times Federal Credit Union is offering a special 5.75% APY 12-month share certificate. The minimum deposit is $2,500. New money is required.

They don't go into much detail on their field of membership. They state "We are the designated credit union for the Downtown Los Angeles Community." I assume that people who live in Downtown L.A. are eligible. They also state: "Also serving the employees and families of: Los Angeles Times, CCN, Recycler, Aramark, Cafe Cafe, Title Court Service and Downtown LA Motors."

The credit union is NCUA insured with $54 million in assets and 6,819 members.

E-LOAN CD Rates Drop Again and Update on the Transfer Glitches read and submit comments for this post

In a second week in a row, E-LOAN dropped its CD rates. At least the savings account rate remains the same at 5.50% APY for all tiers. The only CD rate that is higher than this is the 1-year CD for balances over $50K. That has an APY of 5.55%. As has been typical for all banks lately, the largest declines have been in the long-term CDs. The following table shows how the CD rates have changed over the last two weeks.

E-LOAN Certificate of Deposit Rate Changes

Term      pre 11/8    pre 11/15    11/15
          All Tiers  $10K-$50K   $10K-$50K
6-month     5.60%       5.50%      5.45%   
12-month    5.70%       5.55%      5.50%
18-month    5.75%       5.60%      5.45%
2-year      5.75%       5.60%      5.40%
3-year      5.75%       5.35%      5.30%
4-year      5.75%       5.35%      5.30%
5-year      5.75%       5.35%      5.30%

Note, the new CD yields for balances of over $50K are 5 basis points higher for all terms. Please refer to my previous E-LOAN CD post for more information.

Update on the Transfer Glitches

Many customers seem to have been affected by the transfer glitch last week. Several readers report not only experiencing the glitch but also having problems dealing with E-LOAN. Many have spent hours on hold waiting to speak to a service representative (see post).

Ironically, E-LOAN was just ranked the best in a study of online customer respect in the financial services industry. See press release.

I think E-LOAN could have done some things better in this transfer glitch incident. When the first indication that there was a transfer problem, they should have emailed all of their savings customers with an alert about this issue. The email that was sent seemed to have been limited to just select customers. Many people may have held back on transfers if they had known about this issue. Second, when trying to correct the duplicate transfers, they should have consulted with the affected customers to ensure that the reverse transfers are needed and would not create more problems. Many people had linked to savings accounts which have transfer limits. Finally, E-LOAN needs to have a plan to better support its customers especially during incidents like this. I know they need to keep their staff at a minimum to keep costs low and allow for high rates. Perhaps, they could have a plan for a rapid response team to help out when incidents like this occur.

I was lucky that I didn't make transfers during the time the glitch was occurring. I just did a transfer of money out of E-LOAN on Monday, and the transfer completed at both ends yesterday. I've been happy with E-LOAN, but it's hard to judge a bank until you've experienced problems first hand.

6.17% 36-Month CD at a Maryland Bank - $100K Min (CommerceFirst) read and submit comments for this post

CommerceFirst Bank is offering a special 6.17% APY 3-year jumbo certificate of deposit. The minimum is $100K. This CD is not listed at the bank's website. A reader had mentioned seeing this advertised. I called the bank for further details. I was told that this CD special is being offered at all of the bank's branches. The CSR didn't know how long it would last. They may be able to open the CD by mail. The CSR who had more knowledge of this wasn't available. The CD isn't available in an IRA. The early withdrawal penalty is 3 months of interest.

Branches are located in Annapolis, Lanham, Glen Burnie and Columbia, Maryland. Their contact page gives the number 301-459-4512. However, the CSR who answered wasn't aware of this special and gave me the number to the Annapolis branch: 410-280-6695.

The bank has been FDIC insured since 2000. It has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com.

Thanks to the reader who mentioned this special in the finding deals post.

6.07% 13-Month CD at a LA Credit Union (Financial Partners) read and submit comments for this post

Financial Partners Credit Union is offering a special 767 share certificate for its members who work at Boeing. It's a 6.07% APY 13-month CD. You're allowed one penalty free withdrawal after 7 months. The minimum deposit and the minimum balance to keep the account open is $1,000. It must be opened at a branch. The special is not listed at the credit union's website. A reader reported on this promotion and provided a scan of the offer. Here's a link to the scan.

I had reported on another special from this credit union last week which expired on Saturday. However, they're still offering a 5.50% APY 14-month CD which is similar to this 767 CD special in that you have the option to do a penalty-free withdrawal after the first 7 months. This is listed in their savings rate page and is available to all members.

The field of membership includes those who live, work, attend school, or attend church in Orange County, Long Beach, Downey, or any of the other communities that are served by the credit union in Los Angeles county.

The credit union is NCUA insured. It has $659 million in assets and over 53,000 members.

Thanks to the reader, rate freak, who mentioned this special and provided a scan in the finding deals post.

Update on the 6.00% 6-Month CD at Huron River Area CU read and submit comments for this post

Huron River Area Credit Union is offering a special 6.00% APY 6-month certificate of deposit with a minimum is $5,000. The offer expires on November 30, 2006. Membership into the credit union is available to anyone via membership into the Learn & Earn Credit organization. There's a $1 fee to join.

I had first reported on this deal on the November 6th. That day I had called the credit union and requested a membership application. I just received this in the mail yesterday. The application includes a checkbox for membership in the Learn & Earn Credit organization. This qualifies you for credit union membership. By checking the box you agree to enroll in this organization with a $1 fee. Also note that the credit union membership requires a minimum $6 deposit into your regular savings account.

The credit union application requires a copy of your driver's license and a notarized signature. In addition to the application, an interest rate rider was sent. This just states that you agree to enroll in home banking, electronic bill payment or E-statement program to qualify for the 6% APY on the CD. Note, only one of the three services is required. If you don't remain enrolled in the above service or if you make an early withdrawal, there's a 30 days interest penalty. Instructions on the rider state that they will fill in the rest for opening the CD, and they will mail back a copy of the CD documentation.

The credit union is NCUA insured.

5.80% 60-Month CD at a MI/AL/MO CU (Service 1) read and submit comments for this post

Service 1 Federal Credit Union is offering a 5.80% APY 60-month certificate. The minimum deposit is $500. They also have competitive rates on shorter terms: 5.64% APY 48-month and 5.54% APY 36 month.

The field of membership consists of more than 200 companies from the Muskegon, Michigan; Mobile, Alabama and Neosho, Missouri areas. Please refer to the website for more information.

The credit union is NCUA insured. It has $57 million in assets and 14,713 members.

5.65% 5-Month CD at Countrywide Bank in San Diego read and submit comments for this post

Countrywide Bank is advertising a 5.65% APY 5-month certificate of deposit in San Diego, California. It's not listed on the bank's website, but is being advertised in the San Diego newspaper. The ad is available online here. Countrywide often has local CD deals better than the standard internet rates. Some are available by typing in your zip code in their CD rates page. The San Diego zip code gives a 9-month CD with an APY of 5.55%. Refer to my previous post for more local rates at Countrywide.

Countrywide's CD's have a $10K minimum. It has been reported that Countrywide does a hard credit inquiry for every account that you open.

Countrywide Bank has been FDIC insured since 1990. It has a safe and sound rating of 3 out of 5 stars (performing) at Bankrate.com.

5.75% 6-Month / 5.75% 18-Month CD at a New York Bank (Park Avenue) read and submit comments for this post

The Park Avenue Bank is offering a 5.75% APY 6-month CD and a 5.75% APY 18-month CD. The minimum deposit is $1,000. These certificate specials are no listed at the bank's website. I read about it on the FW CD thread, and I called the bank for further details. I was told that the 6-month CD special should last through the end of the year. The CSR wasn't sure how long the 18-month CD special would last. The bank does require a branch visit to open these CD's, and these CD's are not available in an IRA.

The bank has four branches in New York City and Brooklyn. The bank has been FDIC insured since 1987. It has a safe and sound rating of 3 out of 5 stars (sound) at Bankrate.com.

6.00% 70-Month CD at a Michigan CU - Open To All (Telcom). read and submit comments for this post

Telcom Credit Union is offering a 6.00% APY 70-month certificate of deposit. This special is only for this week. It ends on November 18, 2006. According to their CD description page, the early withdrawal penalty is 180 days of interest.

This credit had been offering a 6.25% 61-month CD in September. The rates of the standard CD's have gone down, but are still competitive. The best one is currently a 5.75% APY for a 60-month term (see rates page).

The field of membership is open to everyone by virture of a $2 donation to the Salvation Army Bed and Bread Program.

Branches are located in Novi, Southfield and Canton, Michigan.

The credit union is NCUA insured. It has $372 million in assets and almost 29K members.

Credit for this find goes to this FW thread.

5.90% 23-Month CD at a Minnesota CU (Honeywell) read and submit comments for this post

Honeywell Federal Credit Union is having a certificate special with some very good rates. The special includes a 5.90% APY 23-month CD, a 5.65% APY 13-month CD and a 5.15% APY 6-month CD. The minimum deposit is $10,000. Funds must be new to the credit union.

Last month I had posted on Honeywell's 6% savings account promotion. This is still available through November.

In addition to Honeywell employees and other employee groups, the field of membership includes those who live, work, worship or attend school in any of the following cities in Minnesoata: Brooklyn Center, Crystal, Golden Valley, Hopkins, Minneapolis, New Hope, Robbinsdale and St. Louis Park.

Branches are located in Minnesota cities of Minneapolis, Golden Valley and Brooklyn Center. There's also a branch in Kansas City, Missouri.

Honeywell FCU is NCUA insured. It has over $280 million in assets and 27,000 members.

Thanks to the reader who emailed me this CD special.

5.88% 60-Month CD at a Wyoming CU (First Education) read and submit comments for this post

First Education FCU has several high rates for its long-term share certificates. They include a 5.88% APY 60-month CD, a 5.72% APY 48-month CD and a 5.61% APY 36-month CD. All have a minimum deposit requirement of $500.

The field of membership includes those who live or work in Laramie County, Wyoming.

The credit union is NCUA insured. It has $34.7 million in assets and 7,337 members.

6.00% 12-Month CD at a Nebraska Bank (City Bank and Trust). read and submit comments for this post

City Bank and Trust Co. is offering a special 6.00% APY 12-month certificate of deposit. The minimum deposit is $10,000.

Branches are located in Lincoln and Crete, Nebraska. It's not clear if they require a branch visit to open the CD or if they accept out-of-state deposits. Please leave a comment if you are able to contact the bank.

The bank has been FDIC insured since 1934. It has a safe and sound rating of 3 out of 5 stars (sound) at Bankrate.com.

5.75% 24-Month CD at a Texas CU (Texas Champions) read and submit comments for this post

Texas Champions FCU is offering a 5.75% APY 2-year share certificate. This same rate is also available in a 3-year term. The minimum required deposit is $10,000.

The field of membership includes those who live, work, attend school, or worship in the cities of Galena Park, Channelview, Jacinto City, Pasadena, and South Houston. The credit union is located in Pasadena, Texas which is just east of Houston.

The credit union is NCUA insured. It's a small credit union with $10 million in assets and 2,117 members.

5.83% 60-Month CD at an Arizona CU (Honeywell Aerospace) read and submit comments for this post

Honeywell Aerospace FCU has high rates on its 3 and 5 year share certificates. With a $1K minimum deposit, the rates are 5.83% APY and 5.61% APY for the 5-year and 3-year CD. With a $100K minium deposit, the rates are 6.10% APY and 5.88% APY for the 5-year and 3-year CD. These rates are in effect through November 29, 2006.

The field of membership is primarily employer based. In addition to Honeywell Aerospace employees of Arizona, California and New Mexico, there are several other employers in Arizona through which you can be eligible to join. For the full list, select the new member application link on page linked above, and then select the employment box under eligibility information.

Branches are located in Phoenix, Glendale and Tempe, Arizona and in Albuquerque, New Mexico.

The credit union is NCUA insured. It has $168 million in assets and 21,347 members.

5.75% 7-Month CD at an Oregon CU (SELCO) read and submit comments for this post

SELCO Community Credit Union is offering a special 5.75% APY 7-month certificate. The minimum deposit is $5,000. At least 50% of the deposit must be new money. If this 50% requirement can't be met, there are other ways you can qualify.

The field of membership includes those who live or work in any of the following Oregon counties: Lane, Deschutes, Linn, Benton, Marion and Polk. Branches are located in Eugene, Salem, Springfield, Bend, Florence and Albany, Oregon.

The credit union is NCUA insured. It has $679 million in assets and almost 85K members.

5.75% 18-Month CD at a Miami CU (MPS) read and submit comments for this post

MPS Credit Union has a 5.75% APY (5.61% interest rate) 18-month share certificate. The minimum deposit is $1,000.

The field of membership includes all US Postal Service employees in Florida and their families. Also all retired Federal Employees residing or working in Dade County and their families are included. A list of other eligible employers is here.

Branches are located in the Florida cities of Miami, Hialeah and Pinecrest.

MPS is NCUA insured. It has $86.4 million in assets and 14,266 members.

Bank Deal Summary for November 11, 2006 read and submit comments for this post

This wasn't a good week for E-LOAN's customers. First, many customers who made transfers into or out of their E-LOAN savings accounts had their transfer requests duplicated. E-LOAN seemed to be trying hard to correct this, but in some cases, it may have made things worse (see post). And in addition to these transfer glitches, E-LOAN's CD rates fell with big drops in the long-term rates (from 5.75% to 5.35% APY). E-LOAN's CD rates came more inline with all the other banks with an inverted yield curve.

With E-LOAN's luster starting to fade, GMAC Bank is making gains. GMAC raised its Money Market Savings account yesterday from 5.25% to 5.30% APY. Also, most of GMAC CD rates increased from 5 to 10 basis points. With a money market account that has rates close to E-LOAN, that has check writing and that has one of the best ACH transfer systems, E-LOAN will find itself losing deposits to GMAC if these glitches and rate drops continue. Please refer to this post for more info on GMAC Bank.

There are two great CD deals at two credit unions that many people can be eligible to join. The first is a 6.25% 24-month CD at United Services Credit Union. In addition to the high yield, it also has many nice features such as allowing additional deposits and one penalty-free withdrawal. This special ends on November 17th. All retirees are eligible. Readers have also identified an organization that can allow you to be eligible. Please refer to this post for more info.

The other great CD deal is at Agriculture FCU. They're having a special with a 6.10% APY 16-month CD ($25K mininum). Agriculture FCU has been on my CD national list since May when they came out with 6% 6-month CDs. Similar to Penfed, you can join a non-profit organization to be eligible, and that can be done online in the same application used to join the credit union. It's even better than Penfed's online application since you can immediately fund the CD as you join. Please see post for more info.

Perhaps Agriculture FCU was trying to compete with Digital Credit Union. Digital is still offering its 6.00% APY 16-month CD special (see post).

For those who want to lock into a long-term CD with a high rate, you may have to depend on local deals since most long-term CD rates continue to slide at the major banks. One of the best local finds this week was at a Maryland credit union which is offering a 6.37% 60-month CD along with high rates on several other terms (see post). For a complete list of these recent local CD deals, refer to my local CD list below. Remember that many of these deals don't last long. Please check if the rate is still active at the bank or credit union's website. If you see that a deal has ended, a comment is much appreciated.

Thanks to all who have helped by leaving comments or sending emails on rate updates. Sorry I can't post on all of your suggestions.

The rates listed below are based on Annual Percentage Yield (APY). No minimum balances are required unless noted. MMA next to the rates indicate a money market account. Most MMAs have check writing and ATM cards. Online savings accounts usually lack both of these. The top lists include banks and credit unions with broad availability and with minimums of $10K or less. Previous weekly summaries are available for Nov 4th, Oct 28th, Oct 21th, Oct 14th, Oct 7th and Sept 30th.

As of November 11, 2006

Savings Accounts/Money Market Accounts:

• E-LOAN - 5.50% ($5K min), my post
• BankUnited - 5.35% (min $5K), my post
• GMAC Bank - 5.30% MMA (min $500), my post
• AmTrustDirect - 5.30% ($1K min), my post
• UFB Direct - 5.28%, my post
• Apple Bank - 5.27%, my post
• AmboyDirect - 5.25%, my post ($25 bonus)
• OneUnited - 5.25% (min $10), my post
• Presidential - 5.25% (min $5K, only first $35K receives this rate), offers 4.50% checking, my post
• FirstFedDirect - 5.25% (min $1K) (closed to CA residents), my post
• Countrywide - 5.25% (min $10K), (5.30% $50K+) my post
• Zions Bank - 5.24% (min $1K) (5.31% $50K+), offers 3.05% free checking, my post
• CapitalOne/Costco - 5.14% MMA (min $5K, Costco members only, $25 deal for exec. members)
• UmbrellaBank.com - 5.10% MMA (min $1K) (5.15% $5K+), offers checking, my post
• MyBankingDirect - 5.10% MMA (min $5K), my post
• Mutual Bank - 5.10% MMA (min $5K), my post
• Corus Bank - 5.07% MMA (min $10K to open)
• Tennessee Commerce Bank - 5.07% (min $10K), my post
• EmigrantDirect - 5.05%, my post, (rate history)
• HSBC Direct - 5.05%, offers checking (see $25 bonus post), my post
• Discover Bank - 5.05% MMA (min $10K)
• Citibank - 5.00%, requires checking account, my post
• Washington Mutual - 5.00% (requires checking), my post
• CapitalOne - 4.80% (MMA has same rate, but with checks and ATM. $100 min.), my post
• Self-Help Credit Union - 4.68% MMA (min $500), my post
• VirtualBank - 4.60% (min $100), (4.86% $50K+/ 5.13% $100K+) offers checking, my post ($20 bonus)
• GE Money - 4.50% (min $4K), (5.05% for $15K+), my post ($25 bonus)
• MetLife Bank - 4.50% MMA (min $5K), my post ($50 bonus)
• EverBank - 4.41% ($1.5K min), 6.01% 3-mo promo, my post
• ING Direct - 4.40%, my post ($25 bonus), (rate history)
• Imperial Capital - 4.20% MMA ($2.5K min), offers free checking, my post
• ebank - 4.00% MMA ($1K min, rate for $10K-25K balance), offers checking
• NetBank - 3.61% MMA ($500 min), requires checking, my post ($250 deal)
• ETrade Bank - 3.25% (min $1K to avoid fees/$5K for APY), my post ($50 bonus)

3-Month Certificates of Deposit:

• EverBank - 6.01% ($1.5K min), checking account promo, see post
• VirtualBank - 5.56% (min $10K), my post
• World Savings - 5.51% (4 months) (min $10K), my post
• Imperial Capital - 5.50%, ($2K min), my post
• IndyMac Bank - 5.45% (min $5K), my post
• Countrywide - 5.30% (min $10K), my post
• FirstFedDirect - 5.26% (min $10K), my post
• GMAC Bank - 5.25% (min $500), my post
• UFB Direct - 5.25% (min $8K)
• Charles Schwab - 5.19% (min $1K), my post
• UmbrellaBank.com - 5.10% (min $1K)
• EverBank - 5.10% ($1.5K min)
• Corus Bank - 5.07% (min $10K)
• ebank - 5.00% (min $1K), 5.25% for ePremium checking customers
• ETrade Bank - 5.00% (min $1K), my post
• Self-Help Credit Union - 4.74% (min $500), my post

6-Month Certificates of Deposit:

• Superior Savings - 5.60% (min $500)
• Imperial Capital - 5.55%, ($2K min), my post
• E-LOAN - 5.50% ($10K min), my post
• Corus Bank - 5.50% (min $10K)
• AmTrustDirect - 5.51% (min $1K) my post
• FirstFedDirect - 5.51% (min $10K), my post
• IndyMac Bank - 5.50% (min $5K), my post
• World Savings - 5.45% (5 months) (min $10K), branch-only, my post
• Countrywide - 5.35% (min $10K), my post
• GMAC Bank - 5.35% (min $500), my post
• ETrade Bank - 5.30% (min $1K), my post
• UFB Direct - 5.30% (min $8K)
• Citibank - 5.25% (min $500), my post
• EverBank - 5.25% ($1.5K min)
• NetBank - 5.20% (min $1K)
• EmigrantDirect - 5.20% (min $1K)
• UmbrellaBank.com - 5.20% (min $1K)
• ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
• ING Direct - 5.00%, my post
• Wells Fargo - 5.00% (5 months) (min $5K), rate and min vary by state, my post
• MetLife Bank - 4.90% ($1K min)
• VirtualBank - 4.86% (min $10K), my post
• Self-Help Credit Union - 4.75% (min $500), my post

9-Month Certificates of Deposit:

• Patelco Credit Union - 5.75% ($1K min) (8 months), not NCUA insured, my post
• FirstFedDirect - 5.55% (min $10K), my post
• AmTrustDirect - 5.51% (min $1K) my post
• Imperial Capital - 5.40% ($2K min), my post
• VirtualBank - 5.39% (min $10K), my post
• Countrywide - 5.35% (min $10K), my post
• UmbrellaBank.com - 5.35% (min $1K)
• GMAC Bank - 5.35% (min $500), my post
• EverBank - 5.25% ($1.5K min)
• IndyMac Bank - 5.25% (min $5K), my post
• EmigrantDirect - 5.20% (min $1K)
• ING Direct - 5.05%, my post
• Washington Mutual - 5.00% (min $1K)

12-Month Certificates of Deposit:

• GTE FCU - 5.64% (min $500) (add-on feature) my post
• FirstFedDirect - 5.64%, (min $10K) my post
• Melrose CU - 5.61% (min $5K) my post
• AmTrustDirect - 5.60% (min $1K) my post
• E-LOAN - 5.55% ($10K min), my post
• Corus Bank - 5.55% (min $10K)
• La Jolla Bank - 5.55% (min $10K), my post
• Digital CU - 5.50% (11 month) (min $1K), my post
• Transportation Alliance Bank - 5.48% ($1K min)
• UmbrellaBank.com - 5.40% (min $1K)
• Imperial Capital - 5.40% ($2K min), my post
• Mutual Bank - 5.35% (min $2.5K) my post
• Countrywide - 5.30% (min $10K)
• ETrade Bank - 5.30% (min $1K), my post
• IndyMac Bank - 5.30% (min $5K), my post
• GMAC Bank - 5.30% (min $500), my post
• NetBank - 5.25% (min $1K), my post ($100 bonus)
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• UFB Direct - 5.25% (min $8K)
• EverBank - 5.25% ($1.5K min)
• EmigrantDirect - 5.20% (min $1K)
• MetLife Bank - 5.15% ($1K min)
• ING Direct - 5.10%, my post
• Self-Help Credit Union - 4.95% (min $500), my post
• VirtualBank - 4.60% (min $10K), my post

16-Month Certificates of Deposit:

• Agriculture FCU - 6.10% (min $25K), my post
• Digital CU - 6.00% (min $500), my post

18-Month Certificates of Deposit:

• E-LOAN - 5.60% ($10K min), my post
• Mutual Bank - 5.40% (min $5K) my post
• AmTrustDirect - 5.33% (min $1K) my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• GMAC Bank - 5.20% (min $500)
• CapitalOne/Costco - 5.16% (min $5K, Costco members only)
• ETrade Bank - 5.15% (min $1K), my post
• Imperial Capital - 5.10% ($2K min), my post
• Countrywide - 5.10% (min $10K)

24-Month Certificate of Deposit:

• United Services Credit Union - 6.25% ($2.5K min) my post

36-Month Certificate of Deposit:

• Melrose CU - 5.72% (min $5K) my post
• Mutual Bank - 5.60% (min $5K) my post
• First State Bank - 5.50% ($1K min), my post
• Fort Belvoir FCU - 5.48% (min $1K), my post
• Transportation Alliance Bank - 5.46% ($1K min)
• E-LOAN - 5.35% ($10K min), my post
• Pentagon Federal CU - 5.31% (min $1K), my post
• Agriculture FCU - 5.25% (min $1K), my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• AmTrustDirect - 5.21% (min $1K) my post
• GMAC Bank - 5.20% (min $500)
• ETrade Bank - 5.00% (min $1K), my post
• Imperial Capital - 5.00% ($2K min), my post
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.92% (min $500), my post
• Washington Mutual - 4.75% (min $1K)

48-Month Certificate of Deposit:

• Melrose CU - 5.77% (min $5K) my post
• Fort Belvoir FCU - 5.59% (min $1K), my post
• First State Bank - 5.50% ($1K min), my post
• Transportation Alliance Bank - 5.42% ($1K min)
• E-LOAN - 5.35% ($10K min), my post
• USA FCU - 5.33% (min $1K) my post
• Pentagon Federal CU - 5.32% (min $1K), my post
• Agriculture FCU - 5.25% (min $1K), my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• GMAC Bank - 5.20% (min $500)
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.91% (min $500), my post
• Washington Mutual - 4.75% (min $1K)

60-Month Certificate of Deposit:

• Melrose CU - 5.82% (min $5K) my post
• Fort Belvoir FCU - 5.75% (min $1K), my post
• Navy FCU - 5.70% ($20K min) restrictions to membership, my post
• Agriculture FCU - 5.65% (min $1K), my post
• Members Credit Union - 5.59% (min $2K), my post
• First State Bank - 5.50% ($1K min), my post
• Transportation Alliance Bank - 5.42% ($1K min)
• E-LOAN - 5.35% ($10K min), my post
• Pentagon Federal CU - 5.32% (min $1K), my post
• AmTrustDirect - 5.27% (min $1K) my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• GMAC Bank - 5.20% (min $500)
• VirtualBank - 5.15% (min $10K), my post
• Imperial Capital - 5.00% ($2K min), my post
• ETrade Bank - 5.00% (min $1K), my post
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.92% (min $500), my post

84-Month Certificate of Deposit:

• Navy FCU - 6.00% ($20K min) restrictions to membership, my post
• Pentagon Federal CU - 5.32% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• CapitalOne/Costco - 5.16% (min $5K, Costco members only)
• Countrywide - 5.00% (min $10K)

High Rates with Conditions - Open to All

• 10% Savings Account for kids ($500 max)
• 6.01% 3-month intro rate on checking account
• 6.00% 3-month intro rate on Money Market account
• 5.60% Money Market Account with $250K initial deposit
• 5.40% Money Market Account with $25K min
• 5.36% Money Market Account at Bank of America with $50K+
• 5.25% Money Market Account with $25K min

Checking and Saving Accounts at Local Banks/Credit Unions

• 6.00% Checking Account up to $25k (Arkansas)
• 5.50% Money Market Account for 3 months (New York)
• 5.50% Money Market Account for 3 months at Banco Popular (CA)
• 5.25% Checking Account (Florida)
• 5.25% Money Market Account (Utah)
• 5.25% no-min online savings account and $50 Bonus (New York)
• 5.25% low-minimum online savings account (California)
• 5.15% Savings Account (Massachusetts)
• 5.11% Money Market Account (Wisconsin)
• 5.00% Money Market Account (Washington State)
• 5.10% savings account (Pennsylvania)
• 5.01% Checking Account (Wisconsin/Illinois)
• 4.75% Checking Account (Texas)

CD Specials at Local Credit Unions/Banks Over the Last Two Months

Terms of 60 Months and Over

• 6.67% 60-Month CD at a Ohio CU - $100K+ (Dayton Firefighters FCU)
• 6.37% 60-Month CD at a Maryland CU (MCT)
• 6.33% 60-Month CD at a North Carolina CU (Team and Wheel)
• 6.27% 60-Month CD at a New Jersey CU - IRA (Hamilton Horizons)
• 6.22% 60-Month CD at a California CU (Tucoemas)
• 6.20% 60-Month CD at a Massachusetts CU (Central One FCU)
• 6.17% 60-Month CD at a Washington State CU (Spokane City)
• 6.14% 60-Month CD at a Ohio CU (Cintel)
• 6.14% 120-Month CD at a Puerto Rico CU (VAPR)
• 6.01% 60-Month CD at a Texas CU (Texhillco)
• 6.00% 60-Month CD at a New Jersey CU (Paragon)
• 6.00% 84-Month CD at a Multi-State CU (Navy Federal)
• 6.00% 60-Month CD at a Ohio/Kentucky CU (Cinfed)
• 5.98% 60-Month CD at a Texas CU (Coastal Community and Teachers)
• 5.90% 60-Month CD at a Michigan CU (Schools and Government)
• 5.85% 60-Month CD at a New York Bank (First Central Savings)
• 5.80% 72-Month CD at a Pennsylvania Bank (Armstrong County)

Terms of 24 Months to Under 60 Months

• 6.66% 36-Month CD at a Virginia CU (Loudoun)
• 6.43% 36-Month CD at a Alabama CU (Energon)
• 6.25% 24-Month CD at a North Carolina CU Still Available (United Services)
• 6.17% 48-Month CD at a Maryland CU (MCT)
• 6.14% 24-Month CD at a Missouri CU (Raytown-Lee Summit Community)
• 6.11% 24-Month CD at a California CU
• 6.11% 30-Month CD at a California CU (Tucoemas)
• 6.01% 30-Month CD at a Florida CU (SCORE FCU)
• 6.00% 24-Month CD at a New York CU - $50K Min (Palisades)
• 6.00% 36-Month CD at a Massachusetts CU (Central One FCU)
• 6.00% 40-Month CD at a Ohio CU (Glass City FCU)
• 6.00% 59-Month CD at a North Dakota CU (Town and Country)
• 5.88% 48-Month CD at a California CU (Butte)
• 5.85% 40-Month CD at a Michigan CU (Schools and Government)
• 5.82% 36-Month CD at a Ohio CU (Cintel)

Terms of 12 Months to Under 24 Months

• 10.00% 12-Month CD at a New York CU - $2K Max (Palisades)
• 10.00% 12-Month CD at a South Carolina CU - $1K Max (Carolina Trust)
• 10.00% 12-Month CD at a Florida Bank - $1K Max (Atlantic Coast)
• 6.70% 14-Month CD at a Louisiana CU (NAS JRB)
• 6.35% 15-Month CD at a California CU (Alisos)
• 6.16% 14-Month CD at a Alabama CU (Energon)
• 6.14% 18-Month CD at a Wichita, Kansas CU (Campus Credit Union)
• 6.05% 19-Month CD at a Minnesota CU - $100K Min (Star Choice)
• 6.01% 12-Month CD at a Chicago Bank and 5.01% Checking (Standard Bank and Trust)
• 6.00% 12-Month CD at a Arizona CU (Canyon State)
• 6.00% 12-Month CD at a Missouri Bank (WestBridge)
• 6.00% 15-Month CD at a South Carolina CU (MCAS Beaufort)
• 6.00% 12-Month CD at a Dallas Bank - $125k min (ViewPoint)
• 6.00% 12-Month CD at a California/Nevada CU (1st United Services)
• 6.00% 13-Month CD at a Colorado CU (Ent)
• 6.00% 15-Month CD at a Illinois CU (Northwest Community)
• 6.00% 13-Month CD at a Pennsylvania CU (Clearview)
• 6.00% 13-Month CD at a Washington State CU (Quimper Community)
• 6.00% 12-Month CD at a Texas CU (Dallas)
• 6.00% 12-Month CD at a Montana CU (Lincoln County)
• 6.00% 12-Month CD at a Dallas Bank - $125k min (ViewPoint)
• 6.00% 15-Month CD at a TX/CO Credit Union (Security Service)
• 5.97% 21-Month CD at a Massachusetts CU (NMTW)
• 5.95% 12-Month CD at a Georgia Bank (Patriot Bank)
• 5.92% 12-Month CD at a California CU (Kerns Schools)
• 5.92% 13-Month CD at a Tampa Florida CU
• 5.90% 12-Month CD at a Texas CU - $95K Min (Tarrant County)
• 5.88% 12-Month CD at a South Florida Bank (Sun American)
• 5.80% 12-Month CD at a Florida Bank (Freedom Bank)
• 5.75% 13-Month CD at a Ohio CU, plus $75 Checking Bonus (Telhio)
• 5.75% 14-Month CD at a Michigan CU (Priority Community)
• 5.65% 12-Month CD at a California Bank (Western Financial)

Terms of Under 12 Months

• 10.00% 7-Month CD at a North Carolina Bank - $2K Max (Oak Ridge)
• 10.00% 10-Month CD at a Philadelphia CU - $1K Max (American Heritage)
• 10.00% 10-Month CD at a Texas CU - $2.5K Max (Alamo FCU)
• 9.00% 9-Month CD at a Colorado CU - $2K Max (Elevations)
• 8.30% 8-Month CD at a Arizona CU - $8K Max (Arizona Holsum)
• 7.55% 3-Month CD at a California CU - $50K Max (Health Associates)
• 7.00% 7-Month CD at a Houston CU - $7K Max (MemberSource)
• 7.00% 7-Month CD at a Maryland Bank - $50K Max (Regal)
• 6.35% 6-Month CD at a Virginia CU (Beach Municpal)
• 6.30% 11-Month CD at a Maryland/DC/Philly CU (FedChoice)
• 6.17% 6-Month CD at a Virginia CU (Martinsville DuPont)
• 6.15% 6-Month CD at a San Antonio, Texas CU
• 6.14% 6-Month CD at a Ohio CU (Maumee Valley)
• 6.11% 8-Month CD at a Florida CU (Kennedy Space Center)
• 6.00% 3-Month CD at a Virginia CU (Apple FCU)
• 6.00% 6-Month CD at a California CU (SESLOC)
• 6.00% 3-Month CD at a Connecticut CU (American Eagle)
• 6.00% 6-Month CD at a Connecticut CU (American Eagle)
• 6.00% 7-Month CD at a Oregon/Washington CU (First Tech)
• 6.00% 6-Month CD at a Missouri Bank (WestBridge)
• 6.00% 6-Month CD at a Hawaii CU (West Oahu Community)
• 6.00% 11-Month CD at a Massachusetts CU (MIT FCU)
• 6.00% 7-Month CD at a New Jersey/North Carolina CU (Proponent)
• 6.00% 6-Month CD at a Wisconsin CU (Fond du Lac)
• 6.00% 9-Month CD at a Baltimore Maryland CU (John Hopkins)
• 6.00% 4-Month CD at a Washington DC CU (HEW)
• 6.00% 10-Month CD at a Washington DC CU (HEW)
• 6.00% 7-Month CD at a New York/Pennsylvania CU (First Heritage)
• 6.00% 7-Month CD at a Connecticut CU (Dutch Point)
• 6.00% 7-Month CD at a North Dakota CU (North Star)
• 6.00% 6-Month CD at a Ohio CU (Toledo Area)
• 6.00% 6-Month CD at a New Jersey CU (Atlantic Health)
• 6.00% 3-Month CD at a New York CU (Advantage)
• 6.00% 6-Month CD at a Michigan CU (Huron River Area)
• 6.00% 5-Month CD at a Arizona Bank (Arizona Bank and Trust)
• 6.00% 6-Month CD at a Illinois/New Jersey/Indiana CU (Selfreliance)
• 5.90% 6-Month CD at a New York CU (Cornerstone)
• 5.90% 9-Month CD at a Georgia CU (Georgia Power)
• 5.90% 10-Month CD at a Georgia Bank (Integrity)
• 5.85% 6-Month CD at a Tennessee CU (Eastman)
• 5.85% 6-Month CD at a California/Nevada CU (1st United Services)
• 5.85% 9-Month CD at a North Dakota CU - (First Community)
• 5.80% 9-Month CD at a Georgia Bank (Seasons)
• 5.80% 8-Month CD at a California CU (San Francisco FCU)
• 5.80% 11-Month CD at a Colorado CU (Bellco)
• 5.75% 7-Month CD at a Oregon CU (Rivermark)
• 5.75% 7-Month CD at a Alabama CU (First Educators)
• 5.75% 11-Month CD at a New York CU (Capital Communications)
• 5.75% 9-Month CD at a Rhode Island CU (Wave)
• 5.70% 7-Month CD at a Kansas Bank (Equity)
• 5.65% 7-Month CD at a California Bank (First Private)

Savings Account/CD Alternatives

• Money Magazine article on risk-free investments
• Fidelity Money Market Fund - 4.98% 7-day yield ($100 bonus and other info)
• Paypal Money Market Fund - 5.03% 7-day yield (1% cashback debit MasterCard)
• FW Thread on Treasury Bills
• I Bond Rate Starting Nov 2006, I Bond Article, I Bonds as CD Alternatives
• SmartMoney Brokerage Survey

5.65% 12-Month CD at a California Bank (Western Financial) read and submit comments for this post

This use to be a deal available to people in any state. But after Western Financial Bank's merger into Wachovia, WFB's CD's are now only available to those in California, and they are no longer available online. At least they are still offering the high CD rates which have remained the same since July (according to their rates page). These include a 5.25% APY 3-month CD, a 5.50% APY with terms from 6 to 8 months, a 5.60% APY with terms from 9 to 11 months, and a 5.65% APY with terms from 12 months to 16 months. The certificates of deposit require only a $100 minimum to open and are available in an IRA.

Branches are located throughout Southern California.

6.35% 15-Month CD at a California CU (Alisos) read and submit comments for this post

Alisos Credit Union is offering a 6.35% APY (6.20% interest rate) 15-month certificate of deposit.

Unfortunately, it has a very narrow field of membership. It's open to employees working for or retired from Norwalk-La Mirada Unified School District, ABC Unified School District, Cerritos Community College, and Barbara Dawson Educational Center and their family members.

The branch is located in Norwalk, California which is in the southeastern suburbs of Los Angeles.

The credit union is NCUA insured. It's a small credit union with $7.8 million in assets and 1,405 members.

6.37% 60-Month / 6.17% 48-Month CD at a Maryland CU (MCT) read and submit comments for this post

MCT Federal Credit Union just came out with several high yield certificates. The jumbo CD's with a $50K minimum have the best rates. These include a 6.37% APY 60-month CD, 6.17% APY 48-Month CD, 6.07% APY 36-month CD and a 5.87% APY 16-month CD. Lower rates are available with a $1K minimum deposit. These include a 6.00% APY 60-month CD, 5.80% APY 48-month CD, 5.70% APY 36-month CD, 5.60% APY 24-month CD and a 5.50% APY 16-month CD.

The field of membership includes students, employees and volunteers in accredited schools in Montgomery County and their families. The FOM also includes a long list of select employee groups.

Branches are located in Silver Spring, Clarkburg, Germantown, Kensington and Rockville, Maryland.

The credit union is NCUA insured. It has $373 million in assets and almost 58,000 members.

10% 7-Month CD at a LA Credit Union - $1K Max (Financial Partners). read and submit comments for this post

Financial Partners Credit Union is having a special at its new Woodland Hills branch. They're offering a 10% APY 7-month share certificate. The minimum is $100 and the maximum deposit is $1K. Only one per member is allowed. The offer is only available at the new Woodlands Hills branch, and it expires at the end of tomorrow (Nov 11th). This special isn't listed at the credit union's website. It was mentioned in this FW thread (thanks to FW member kamerkar).

If you and your spouse each open this CD with a $1K deposit, you'll earn about $52 over what you would earn at a 5.50% savings account over the next 7 months.

The credit union also has a 5.50% APY 14-month CD that allows a single penalty-free withdrawal after the first 7 months. The minimum deposit is $1K. This is listed in their savings rate page.

The field of membership includes those who live, work, attend school, or attend church in Orange County, Long Beach, Downey, or any of the other communities we serve in Los Angeles county.

The credit union is NCUA insured. It has $659 million in assets and over 53,000 members.

6.10% 16-Month CD at Agriculture FCU - $25K Min read and submit comments for this post

Agriculture FCU has started the "Let It Grow" certificate special with three high yield share certificates. The best deal is a 6.10% APY 16-month CD with a $25K minimum requirement. There are two CDs with an APY of 5.60%. One has an 8-month term with a $100K minimum and the other has a 25-month term with a $1K minimum deposit.

The field of membership includes members of CityDance Ensemble. CityDance has open membership to anyone that pays membership dues of $20.00. This membership can be done at the same time that you apply for credit union membership. They have an online membership application in which you can join CityDance for $20, join the credit union for a $5 inital deposit to the Primary Share account, and open the CD.

The FOM also includes those who live, work or worship in Washington DC plus other group affiliations.

In the online application, I noticed that it includes an option for the 16-month CD with the $25K minimum deposit. However, I've read that the credit union limits an electronic transfer to $10K from a newly linked funding account. I called their toll-free number, but was unable to get help since they were already closed for the Veteran's Day holiday.

AFCU offered several 6-percent-plus CDs in late spring and early summer (see post). Even after these 6% CD specials, they've maintained competitive yields on their standard CD's. For the last several months, they've maintained a 5.65% APY for the 60-month CD. So with competitive rates and online funding capabilities, this might be a good credit union to join for the long term.

Branches are located in Washington DC, Riverdale, Maryland, and Alexandria, Virginia. They also are part of National Shared Branching network in which you can use local credit unions to access your account and conduct many transactions.

AFCU is NCUA insured. It has $192 million in assets and almost 24,000 members.

Credit for this find goes to the FW CD thread. There was also a useful FW thread on AFCU when it first started offering 6% CDs. The link to that thread is here.

6.00% 6-Month CD at an Illinois/New Jersey/Indiana CU (Selfreliance) read and submit comments for this post

Selfreliance Ukrainian American FCU has a 55th Anniversary Special CD. It's a 6.00% APY 6-month share certificate. The minimum deposit is $100 and the maximum is $100K. The 6% requires a payroll or pension direct deposit into a share draft account during the term of the CD. Without direct deposit, the rate is 5.25% APY.

The field of membership is limited to members of the Selfreliance Association of Ukrainian Americans. Membership in Selfreliance Association is limited to individuals of Ukrainian descent, spouses of Ukrainians and/or members of Ukrainian parishes.

Branches are located in Chicago, Bloomingdale, and Palos Park, Illinois; in Munster, Indiana; and in Jersey City, Newark and Parsippany, New Jersey.

Selfreliance is NCUA insured. It has $416 million in assets and 22,847 members.

5.88% 48-Month CD at a California CU (Butte) read and submit comments for this post

Butte Federal Credit Union is offering a 5.88% APY 48-month share certificate. The minimum deposit is $2,000. There's also a special 5.61% APY 24-month CD and a 5.35% APY 12-month CD.

The field of membership includes those who live, work, worship, attend school or volunteer in one of the seven Northern California counties. See site for details.

Branches are located in Biggs, Oroville, Marysville and Portola, California.

Butte FCU is NCUA insured. It has $31.8 million in assets and just over 8,000 members.

5.98% 60-Month CD at a Texas CU (Coastal Community and Teachers) read and submit comments for this post

Coastal Community and Teachers Credit Union has several high yield long term certificates. The best rates require a $95K minimum deposit. These include a 5.98% APY 60-month CD, a 5.90% APY 36-month CD, a 5.82% APY 24-month CD and a 5.71% APY 12-month CD. The rates are still very competitive for a lower $50K balance. These include a 5.71% APY 60-month CD, a 5.64% APY 36-month CD and a 5.56% APY 24-month CD.

The field of membership includes those who live and work in the Texas counties of Aransas, Duval, Jim Wells, Kleberg, Nueces and San Patrico. There's also a long list of schools and businesses as part of the select employee groups. Branches are located in the Texas cities of Corpus Christi, San Diego, Alice, Freer, Kingsville and Portland.

The credit union is NCUA insured. It has $149.7 million in assets and 32,138 members.

GMAC Bank Money Market Savings Rate Now 5.30% read and submit comments for this post

GMAC Bank raised the rate on its Money Market Savings Account today from 5.25% to 5.30% APY. The last rate change on this Money Market Savings Account was on October 6th when GMAC raised the rate from 5.00% to 5.25% APY. This rate requires a minimum balance of $500. Below $500, there's up to a $7.50 monthly fee.

For those who have been hit by E-LOAN's transfer problems, GMAC Bank may be a good alternative. The savings account rate isn't as high, but GMAC Bank has a history of being competitive. Some advantage of GMAC over E-LOAN include check writing (first 50 checks are free), ATM card and a much better ACH transfer system that's not limited to one external account. For more information on this money market account, please refer to my GMAC Money Market Account review post.

GMAC Bank's CD rates also increased today on all terms except the 3-month term. The rates are still way below their July highs. Below shows the CD rate evolution over the last two months:

GMAC Bank Certificate of Deposit Rates:
                    Annual Percentage Yield
Term        9/15    9/29   10/06   10/13   11/03   11/10
3 month    4.95%   4.95%   5.25%   5.25%   5.25%   5.25%
6 month    5.00%   4.95%   5.30%   5.35%   5.30%   5.35%
9 month    5.30%   5.20%   5.30%   5.35%   5.25%   5.35%
12 month   5.35%   5.25%   5.30%   5.40%   5.25%   5.30%
18 month   5.30%   5.20%   5.30%   5.30%   5.15%   5.20%
2 years    5.30%   5.20%   5.15%   5.30%   5.15%   5.20%
3 years    5.30%   5.20%   5.15%   5.30%   5.15%   5.20%
4 years    5.30%   5.20%   5.15%   5.30%   5.15%   5.20%
5 years    5.35%   5.20%   5.20%   5.35%   5.15%   5.20%

For more information on opening a GMAC Bank CD, please refer to this post.

10% 12-Month CD at a Florida Bank - $1K Max (Atlantic Coast) read and submit comments for this post

Atlantic Coast Bank is having a special at its Julington Creek branch. They're offering a 10% APY 12-month certificate of deposit to new customers. The minimum and maximum deposit is $1000. Only one per household is allowed. This special is not listed on the website. A reader mentioned this special, and I called for the details. The CSR did not know how long this special would last. The reader also mentioned that the bank allows you to open an additional 10% 12-month CD if you open a no-minimum checking account. The CSR wasn't aware of this.

The bank is also offering a 5.65% APY 101-day CD special available at all branches. The minimum for this CD is $2,500. I was told they can open this one by mail. The bank is also offering a 4.00% APY checking account. This is listed at the website.

The Julington Creek branch is located in Jacksonville, Florida. The bank has been FDIC insured since 2000.

Thanks to the reader who mentioned this CD in the finding deals post.

7.00% 7-Month CD at a Maryland Bank - $50K Max (Regal). read and submit comments for this post

Regal Bank and Trust is having a special at its new Hunt Valley branch. It's a 7.00% APY 7-month certificate of deposit. The minimum is $1K and the maximum allowed deposit is $50K. This special isn't listed at the bank's website. A reader mentioned it, and I called the bank for the details. You have to visit the Hunt Valley branch for this special. No checking account is required. The CSR said that this special will last at least through Friday (11/10), but may not be available next week.

The bank's Hunt Valley branch is located just north of Baltimore. Regal Bank and Trust has been FDIC insured since 1985.

Thanks to the reader who mentioned this CD special.

5.95% 12-Month CD at a Georgia Bank (Patriot Bank) read and submit comments for this post

Patriot Bank of Georgia is offering a 5.95% APY 12-month certificate of deposit special. The minimum is $500. This Veteran's Day special isn't listed at the bank's website. A reader mentioned this, and I called the bank for more details. According to the CSR, they do require a branch visit to open this CD. It's available at least through tomorrow. The CSR couldn't confirm if it'll be available next week.

The bank is located in Suwanee, Georgia which is just north of Atlanta. It's a new bank that has been FDIC insured since July, 2006.

Thanks to the reader who mentioned this CD in the finding deals post.

Glitches at E-LOAN's Online Savings Account read and submit comments for this post

E-LOAN had some problems with its online savings account. Several readers have mentioned that E-LOAN incorrectly duplicated transfer requests. Many who initiated a transfer out of their linked account into their E-LOAN account early this week found out that this transfer was done twice which caused several to be hit with an overdraft fee. Since I didn't do any transfers this week, I haven't seen this problem myself, and E-LOAN hasn't sent me any email on this issue. However, E-LOAN has sent emails to several customers. A reader received the following:

Due to an error that occurred November 7, 2006, our electronic funding service duplicated a small percentage of transfer requests, which may have affected your external account.

We immediately took the appropriate steps to correct this problem, and hope that you will accept our apologies for this incident.

Rest assured there is nothing you need to do, and E-LOAN has informed your bank of the error. We will reimburse you for any fees you may have incurred due to this problem.

At E-LOAN, you are the reason for our continued success. Again, please accept our apologies. If you have any further questions or concerns, please feel free to log into your E-LOAN Deposits Account and send us a secure message.

Perhaps E-LOAN is experiencing some growing pains. On November 1st, E-LOAN issued a press release stating that the online savings account and CDs has received more than $754 million in deposits from 18,132 accounts. Also in that press release was this quote:

More than 84% of E-LOAN customers have indicated that a trusted brand is a key influencer in choosing a high-yield online savings or CD account.

Glitches like this won't help to build trust. But at least E-LOAN seems to be trying its best to correct the issue and reimburse customers affected. Please keep me updated on how E-LOAN does in making mends.

For those with E-LOAN savings accounts, make sure you check your E-LOAN accounts and your linked accounts to make sure all transactions are correct. Regularly checking your accounts is always a good idea. BankRate.com just came out with a good article on bank errors. It describes some of the laws designed to protect you. To get back money that was caused by a bank error, you have 60 days from the date the statement containing the error was sent. If your debit card gets lost or stolen, you have only two days to completely limit your liability to $50. If banks make mistakes in your favor, they have years to correct the mistake (which doesn't seem fair).

There could be one positive from this E-LOAN glitch. It could give E-LOAN a reason to extend the 5.50% APY on the savings account on all tiers. I don't know if they are planning to drop this rate anytime soon. But they already dropped their CD rates and implemented tiers on the CDs. If E-LOAN can properly make mends to its customers who were affected by this glitch, it'll be easy to overlook this glitch if the rates remain on top. However, if rates fall and are no better than other banks, it'll give more reason to switch back to a bank that has been more reliable.

5.85% 40-Month / 5.90% 60-Month CD at a Michigan CU (Schools and Government) read and submit comments for this post

Michigan Schools and Government CU has competitive CD rates on all of its regular CD terms in addition to two CD specials. The CD specials include a 5.85% APY 40-month CD and a 5.65% APY 16-month CD. These require money new to the credit union. The regular certificates have APY's that range from 5.30% for the 6-month term to 5.90% for the 5-year term. The long term rates are especially competitive: 5.90% APY 5-year, 5.80% APY 4-year and 5.70% APY 3-year. All of the certificates have a minimum deposit of $500. The IRA CD's have the same rates and minimum requirements.

The field of membership includes employees, students, former students, alumni, and retirees of educational institutions in the Michigan counties of Genesee, Lapeer, Livingston, Macomb, Oakland, St. Clair, Washtenaw and Wayne. The FOM also includes members of several organizations, and retirees located in the areas of the credit union. Also, you can qualify via relatives by blood or marriage. Relatives don't have to already be a member. They only have to be eligible to join. See site for more details.

The credit union is NCUA insured. It has $730 million in assets and 61,109 members.

5.83% 14-Month CD at Washington DC CU (Interior FCU) read and submit comments for this post

Interior FCU is having a special rate on a 14-month certificate. The APY is 5.83% (5.70% interest rate). The minimum deposit is $1,000. This is available as a term share certificate or an IRA certificate (Roth, Traditional or Coverdell). In addition to this promo, the credit union has competitive yields on all of its CDs. The 4-year CD has an APY of 5.72%. You can apply online for these.

The field of membership includes all employees and volunteers of the US Department of the Interior which includes the National Park Service and several other bureaus. There are several other select employer groups. See site for details. Note, anyone can volunteer in National Parks around the country. Although this can't be done in time for this promo, it might be useful for future promos. Refer to this article for volunteer information.

Branches are located in Washington DC and in Reston, Virginia. Applying for membership can be done by mail and accounts can be opened online. Also, they participate in the National CO-OP Network. So branch visits may never be necessary.

For those who join before November 30, 2006, the credit union will reward you with an initial $25 deposit for your savings account. The $25 balance in the share savings account is required for membership. See site for details.

The credit union is NCUA insured. It has $82 million in assets and 9,920 members.

6.14% 6-Month CD at an Ohio CU (Maumee Valley) read and submit comments for this post

Maumee Valley Credit Union is offering a special 6.14% APY 6-month certificate of deposit. The minimum is $500, and it requires new money.

The field of membership includes those who live, work, worship, or attend school within the City of Perrysburg, Perrysburg Township, Waterville, or Whitehouse. There's also a long list of select employee groups. See site for details.

Branches are located in Toledo and Perrysburg, Hoio.

Maumee Valley Credit Union is NOT NCUA insured. It is privately insured by ASI. Their insurance by ASI can be verified here.

6.00% 5-Month CD at an Arizona Bank (Arizona Bank and Trust) read and submit comments for this post

Arizona Bank and Trust is offering a 6.00% APY 5-month certificate of deposit. The minimum is $1,000.

Branches are located in Phoenix, Chandler, Mesa and Tempe. Based on the online applications, it appears that deposits can be made from any state. Please contact the bank to verify customer requirements.

The bank has been FDIC insured since 2003. It has a safe and sound rating of 4 out of 5 stars (sound) at Bankrate.com.

6.30% 11-Month CD at a Maryland/DC/Philly CU (FedChoice). read and submit comments for this post

FedChoice FCU is offering promotional share certificates with 6 to 11 month terms with rates up to 6.30% APY. The 6.30% APY has a minimum deposit of $100K. The 6.20% APY has a $50K minimum and the 6.10% APY has a $10K minimum. These CD's require money from outside the credit union.

The field of membership includes all federal civilian employees, annuitants and their families in the Washington, D.C., Baltimore and Philadelphia Metropolitan areas. Refer to the site for details about the specific counties that are part of the covered areas.

Branches are located in Maryland, Washington DC and in Phildelphia, Pennsylvania.

FedChoice FCU is NCUA insured. It has $203 million in assets and over 22,000 members.

[Edit 12/30/06: CD promo has ended]

Large Decline in E-LOAN CD Rates with New Rate Tiers read and submit comments for this post

E-LOAN followed the trend that we've seen at many other banks. All of E-LOAN's CD rates dropped today with the largest decline in the long-term rates. Also, the rates are now tiered. Deposits of over $50K earn between 5 to 10 basis points more. For deposits between $10K and $50K, the 3-year, 4-year and 5-year CD rates dropped from 5.75% to 5.35% APY. The table below