5.55% 12-Month CD at a Texas/Missouri Bank (Premier) read and submit comments for this post

Premier Bank is offering a special certificate of deposit with rates from 5.51% to 5.55% APY with a term of 12 months. The minimum deposit is $2,500. These rates require the PALS program which is for people age 50 who have a checking account and maintain a combined balance of $5K. Without this program, the rate is about 0.25% less.

The 5.55% APY is available in the Grapevine Texas branch. The 5.51% APY is available at the Missouri branches which includes St. Louis/St. Charles, Jefferson City, Columbia and the Lake of the Ozarks.

Premier Bank has been FDIC insured since 1995.

6.00% 15-Month CD at a Georgia Bank (Community Bank and Trust). read and submit comments for this post

Community Bank and Trust is offering a special 6.00% APY 15-month certificate of deposit. The minimum deposit is $500. It's also available as an IRA CD. This special isn't listed at the bank's website. A reader had emailed me this, and I called for additional info.

The service rep didn't know how much longer this would last. It started in mid February. I was told that they require a branch visit to open this CD. It seems to be available at most of their branches, but be sure to call your local branch to confirm. Branches are located in several cities of Georgia, including Cornelia, Cleveland, Clayton, Toccoa, Gainesville, Commerce, Athens and Columbus. There are also branches in Alabama cities of Montgomery, Union Springs and Prattville.

The bank has been FDIC insured since 1934.

[Update 3/5/07: CD special is no longer available.]

5.50% 48-Month CD at a South Carolina Bank (Arthur State Bank) read and submit comments for this post

Arthur State Bank is offering a 5.50% APY 48-month certificate of deposit. The minimum deposit is $500 (See rates table).

It appears that they require a branch visit to open accounts. Branches are located in several South Carolina cities including Union, Spartanburg, Greenville, Chesnee, Clinton, Wooddruff, Roebuck, Rock Hill and Columbia.

Arthur State Bank has been FDIC insured since 1934.

5.75% 8-Month CD at Wachovia California read and submit comments for this post

Wachovia is advertising a 5.75% APY 8-month certificate of deposit. The minimum deposit is $1,000, and it requires that you have or open a personal checking account. According to the service rep, the free checking account can qualify. This 5.75% yield is only available at Wachovia's California branches. This CD special is not listed at Wachovia's website. It was advertised in today's California newspapers today. The ad is available online here.

It's interesting to note that Wachovia was suppose to have finished the conversion of the 19 Western Financial Bank branches in Southern California by February 12th (see article). Many had been worried that Wachovia wasn't going to offer the high yield CDs and savings accounts that Western Financial had offered. This may not become a common practice at Wachovia, but at least it's a solid deal for the short term.

Wachovia has also been advertising 5-percent-plus yield on its High Performance Money Market Account in some states. A 5% APY is still being advertised in Texas (see post). Readers have mentioned a 5.10% APY being advertised in California. This account requires $10K balance to earn this rate.

Wachovia still has a $50 checking account bonus for its free checking account. Please refer to my Wachovia checking bonus post for more info. Since the free checking account qualifies for the 5.75% CD, I would think you should be able to open this first and then qualify for the CD.

Thanks to the readers who mentioned this new CD special.

5.55% 15-Month CD at a Minnesota/Missouri CU (Endura Financial) read and submit comments for this post

Endura Financial FCU is offering certificate specials with a yield as high as 5.55% APY for a 15 month term. Other rates include a 5.45% APY 22-month CD and a 5.20% APY 10-month CD. The minimum deposit is $10,000, and the money must be new to the credit union.

Field of membership includes those who live, work, worship or attend school in any of the following Minnesota cities: Brooklyn Center, Crystal, Golden Valley, Hopkins, Minneapolis, New Hope, Robbinsdale and St. Louis Park. It also includes those in Jackson County, Missouri. You can also join via Select Employer Groups and family. See site for details. Membership requires a $5 deposit into a share savings account.

Branches are located in Minneapolis, Brooklyn Center, and Golden Valley, MN and in Kansas City, MO. The credit union is federally insured by the NCUA. It has $291 million in assets and 27,607 members.

5.64% 24-Month CD at a Pennsylvania CU (Franklin-Oil) read and submit comments for this post

Franklin-Oil Credit Union is offering a special 5.64% APY 24-month savings certificate. The minimum deposit is $500.

Field of membership includes those who live, work, worship, volunteer or attend school in Venango County, Pennsylvania. Membership requires a $5 deposit into the share savings account a $1 for a membership fee.

The credit union is federally insured by the NCUA. It has $22.3 million in assets and 5,531 members.

5.90% 50-Month / 5.51% 20-Month CD at a New York CU (CFCU Community) read and submit comments for this post

CFCU Community Credit Union is offering special high yield certificates as part of its grand opening of a new branch (see ad - pdf). The rates include a 6.17% APY 50-month CD and a 5.64% APY 10/20-month CD. Both have a $100K minimum deposit. Lower rates are available for a $25K minimum. These include a 5.90% APY 50-month CD and a 5.51% APY 10/20-month CD. With a $500 minimum, there's a 5.64% APY 50-month CD and a 5.38% APY 10/20-month CD. These are also available as an IRA certificate.

These rates are available to CFCU members in Tompkins or Cortland counties. Also, these rates require you to have or open a Premier Checking account. The specials are available through 4/30/07. Note, Premier Checking requires Direct Deposit, and to avoid monthly fees, you must maintain a balance of $500 or more.

Field of membership includes those who live, work, attend school in Tompkins or Cortland Counties, New York.

The credit union is federally insured by the NCUA. It has $411 million in assets and 56,614 members.

$150 Checking Account Bonus at Beneficial Savings Bank read and submit comments for this post

Beneficial Savings Bank is offering a bonus of up to $150 for opening a Free Interest Checking Account. $50 is awarded after the first direct deposit, another $50 is awarded after the first online bill payment and another $50 is awarded if your balance reaches $1,000 anytime during the first 60 days. The last award is valid through 3/31/07. The other two $50 bonuses seem to be an ongoing promotion and are listed in the checking account overview page.

According to the service rep, the checking account can be opened by people from any state (not just those in PA/NJ). Also, they only do ChexSystem in the application process without any hard credit inquiry. Note, a reader mentioned being told that the bonuses are only a local deal.

Here are some of the important details of the Free Interest Checking account:

• No minimum balance requirement
• Free initial order of checks
• No ATM fees from Beneficial (but no reimbursements)
• Free internet banking with Bill Payment
• Online check imaging

The schedule of fees lists all of the potential fees that you could be charged.

Beneficial Savings Bank has branches in the areas in and around Philadelphia in Pennsylvania and New Jersey. The bank is FDIC insured.

Credit for this find goes to FW member fixfox69 who posted it in this FW thread.

[Updated 2/27/07 6:40pm: Added note regarding bonuses being a local deal.]

World Savings New Free Checking Account read and submit comments for this post

World Savings quietly began a new free checking account in February. It's not listed at the website. According to the service rep, it is available at all of World's branches. If you open the account before March, they'll give you a free book of 120 checks. The minimum opening deposit is $100, but after the opening deposit, there are no minimum balance requirements. Also, there are no direct deposit requirements and no monthly fees. Below if the full list of features:

• $100 minimum to open
• no minimum balance requirement
• no direct deposit requirement
• no monthly service charges
• no transaction fees at non-World ATM's
• ATM surcharges rebated up to $6
• free World check card
• free online banking
• unlimited deposits and withdrawals
• unlimited check writing
• unlimited automatic transfers
• monthly statements of account activity
• No hard credit check (only use Telecheck)

The main reason of highlighting this new free checking account is for those with World Savings CDs. A free checking account can be handy when you close a World Savings CD. You can just have it deposited into the checking account. Then you can either pull the money from your online bank using an ACH transfer or you can write a check. You could do this previously, but you had to maintain a combined balance of $25K to avoid monthly fees on the checking account. Note, if you already have a World Savings checking account and want to convert it over, you'll have to have at least $100 balance in the existing checking account.

The question now is will World Savings come out with new CD deals. They do have a nice 5.45% 10-month internet special (see post). But it has been awhile since they've offered the very-high-yield branch CD specials.

World Savings and its parent, Golden West Financial, are undergoing a merger with Wachovia. Currently, World Savings is FDIC insured. Bankrate.com gives the bank 3 out of 5 stars (performing).

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

5.25% Savings Account at Transportation Alliance Bank read and submit comments for this post

Transportation Alliance Bank (TAB) just increased the rate of its Premium Savings Account to 5.25% APY. The initial deposit requirement is only $25, and there's only a $1 minimum balance requirement to earn the full interest. According to the fee schedule (pdf) there are no monthly fees.

The Money Market Account also had a major rate bump. The rate is just a tad lower than the savings account at 5.15% APY. The advantage of the money market account is that it has check writing privileges (up to 3 a month). It has the same deposit and balance requirements as the savings account.

Note, TAB listed these rates this morning as 5.38% APY on the savings and 5.28% APY on the MMA. They must have made a mistake, and lowered them later in the day. This doesn't help provide confidence in their ability to maintain high rates.

The rates on both the savings and money market account had been 4.50% APY since I first reported on these accounts last March. The good thing about this is that TAB doesn't seem to change its savings account rates often. The bad news is that this is a big jump in rates so it smells like a promotional rate.

One downside with TAB is that it doesn't seem to have the best online banking features. The new account application and ACH authorization form must be printed and mailed or faxed in. The ACH authorization form states that the total of all outstanding ACH transfer requests may not exceed $1,000. There is an Express ACH that has increased transfer limits, but according to the application this authorizes TAB to review your credit report (perhaps a hard pull?). And according to the FAQ, you can only apply for ACH Express 90 days after opening your account. Also, according to fee schedule, outgoing ACH's cost $2. Incoming ACH's are free.

Some other details from the FAQ and fee schedule about these accounts include: Incoming wire transfers are free. Outgoing wire transfers cost $15. Interest on a Savings Account is compounded daily and credited monthly. Initial deposits that are not guaranteed funds have a 10 business day hold before they can be withdrawn. Most future deposits may be withdrawn after three business days. A paper statement will be issued monthly.

Even though TAB hasn't maintained competitive savings account rates before today, it has maintained competitive long-term CD rates. The CD rates also went up today. The highest rate is the 12-month CD with a yield of 5.40% APY.

TAB is designed as a virtual bank in which all transactions can be done via the bank's website or by phone. The bank doesn't have bank branches but has several financial service centers under its parent's name Flying J Inc. These centers are staffed with sales associates who market bank products. The centers are located in Ogden, Utah; Lake Point, Utah; Walton, Kentucky; and Resaca, Georgia. TAB has been FDIC insured since 1998. As of September 30, 2006, TAB reported $466.6 million in total assets. It has a 4 out of 5 safe-and-sound star rating at Bankrate.com.

[2/26/07 6:40pm Edit. Updated the savings account and MMA rates. They were temporarily listed higher early this morning.]

$75 Bonus for HSBC Interest Checking Account read and submit comments for this post

HSBC is offering a $75 cash bonus for opening its Interest Checking Account. Here's the promotional page. The minimum to open this account is only $1. However, there is an $8/month fee unless you either have direct deposit or if you have a combined balance of $3,000. The $3,000 combined balance should include the balance in your Online Savings Account. To keep the bonus, the account must remain open for 180 days. The offer expires on 4/10/2007. Cash bonus is considered interest income and will be reported on IRS Form 1099-INT.

There's also a $25 cash bonus for opening a Free Checking Account with an HSBC Debit MasterCard with PayPass. This can be done instead of the $75 bonus. The Free Checking Account doesn't have any monthly fees or minimum balance requirements. One important note regarding the Free Checking account is that if the account is inactive for 3 consecutive months, the account will be converted to Basic Banking which has a $3/month maintenance fee regardless of balance.

The terms and charges documentation for these accounts are available at this HSBC page.

Last year I signed up for the Smart Package for a $50 cash bonus. One nice perk of this Interest Checking Account is that your first box of checks is free. The Interest Checking Account has come in handy for linking other accounts that require a checking account (like ING Direct). Regarding hard credit inquiries, I did not receive any for opening the checking or savings accounts. Please refer to my last year's post for details of opening an HSBC checking account.

For more information on HSBC Direct's 6% New Money Promotion, please refer to this post.

Thanks to the reader who emailed me the info on this new bonus.

6.14% 6-Month CD at a Michigan CU - $10K Max (Monroe Automotive) read and submit comments for this post

Monroe Automotive FCU is offering a special 6.14% APY 6-month certificate of deposit. The minimum deposit is $500 and the maximum is $10,000. There's also a 7-month CD special with a yield of 5.41% APY for deposits over $10K.

Field of membership includes those who live, work, worship or attend school in Monroe County, Michigan. Membership requires a $5 deposit into a share savings account.

The credit union is federally insured by the NCUA. It's a small credit union with $9.4 million in assets and 3,219 members.

Bank Deals Weekly Summary for February 24, 2007 read and submit comments for this post

This was a slow week for bank deals. I thought we may see an online bank come out with a deal to counter HSBC Direct's 6% new money promo (see post). Except for some sign-up bonuses at ETrade Bank (see post) and Citibank (see post), no other online bank is coming close. For those who just want the best rate for the long term, you may be better off with a bank like AmTrustdirect or AmboyDirect.

One rate change this week was at ING Direct. They increased the low-tier rate on its new Electric Orange Checking Account from 3% to 4% APY (see post). ING Direct still hasn't publicly launched this new account so only certain existing savings account customers are eligible.

There were a few more banks that lowered CD rates than raised them this week. Small CD rate drops occurred at UFB Direct, Everbank and IndyMac Bank. GMAC Bank had a slight increase on its long-term CD rates.

I removed Huron River Area Credit Union from my national-availability list. Last week the management of the credit union was taken over by the NCUA (see post). Apparently, regulators saw problems with the credit union. One change that the NCUA management did this week was to remove the easy membership rules. But besides that, Huron is continuing as it did before. The 6% 12-month CD special is still being advertised for those who can qualify and are willing to put their trust back into Huron. This episode illustrates the importance of NCUA coverage. NCUA does more than just insure deposits when credit unions fail, but also has procedures to prevent credit unions from failng. I also reported on a bank failure that occurred early this month (see post). In this case the FDIC actually liquidated the bank. These incidents highlight the need to remain within the federal insured limits.

I added a few new categories to my lists. I now have the ability to add labels to my posts. This allows me to categorize posts. All of my posts that cover checking or savings account bonuses are now labeled "bonuses". You can see all of these by clicking on the link below. I also label all local deals by state, so now you can view all of the deals that are available by state. These links are in the local CD deal section. Note, I've just started labeling so not all states or previous deals are included.

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 Feb 17th, Feb 10th, Feb 3rd, Jan 27th, Jan 20th, Jan 13th, Jan 6th and Dec 30th.

As of February 24, 2007

Checking/Savings/Money Market Accounts:

• Checking/Savings Account Bonuses

• Geauga Savings Bank - 5.45% ($25K min), see post
• AmTrustDirect - 5.36% ($1K min), my post
• BankUnited - 5.35% (min $5K), my post
• UFB Direct - 5.31%, my post
• iGobanking - 5.30%, my post
• Zions Bank - 5.30% MMA (min $1K) (5.34% $50K+), my post
• OneUnited - 5.30% (min $1K), my post
• Direct Huntington - 5.30% ($1K min), my post
• Apple Bank - 5.27%, my post
• WTDirect - 5.26% ($10K min), my post
• FNBO Direct - 5.25%, my post
• E-LOAN - 5.25% ($5K min), my post
• AmboyDirect - 5.25% (5.35% for $20K+), my post ($25 bonus)
• Presidential Bank - 5.25% (min $5K, only first $35K receives this rate), offers 4.50% checking, my post
• Countrywide - 5.25% (min $10K), (5.40% $50K+) my post
• CapitalOne/Costco - 5.20% MMA (min $5K, Costco members only, $25 deal for exec. members)
• Corus Bank - 5.16% MMA (min $10K to open)
• FirstFedDirect - 5.16% (min $1K) (closed to CA residents), my post
• Discover Bank - 5.14% MMA (min $10K)
• MyBankingDirect - 5.10% MMA (min $5K), my post
• Mutual Bank - 5.10% MMA (min $5K), my post
• EmigrantDirect - 5.05%, my post, (rate history)
• HSBC Direct - 5.05%, (6% new money promo) offers checking, my post
• ETrade Bank - 5.05%, my post ($25 bonus)
• Tennessee Commerce Bank - 5.05% (min $10K), my post
• Washington Mutual - 5.00% (requires checking), my post
• ebank - 5.00% Checking ($2.5K min), my post
• CapitalOne - 5.00% (MMA has same rate, but with checks and ATM. $100 min.), my post
• GMAC Bank - 5.00% MMA (min $500), my post
• UmbrellaBank.com - 5.00% MMA (min $1K) (5.15% $50K+), offers checking, my post
• Citibank - 4.75%, requires checking account, my post ($200 bonus)
• Self-Help Credit Union - 4.68% MMA (min $500), my post
• EverBank - 4.61% ($1.5K min), 6.01% 3-mo promo, my post
• VirtualBank - 4.60% (min $100), (4.86% $50K+/ 5.13% $100K+) offers checking, my post ($20 bonus)
• ING Direct - 4.50%, my post ($25 bonus), (rate history)
• GE Money - 4.50% (min $4K), (5.05% for $15K+), my post ($25 bonus)
• MetLife Bank - 4.40% MMA (min $5K), my post ($50 bonus)
• Imperial Capital - 4.20% MMA ($2.5K min), offers free checking, my post
• NetBank - 3.75% 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 - 5.44% (min $10K), my post
• UFB Direct - 5.30% (min $8K)
• Countrywide - 5.30% (min $10K), my post
• Imperial Capital - 5.30%, ($2K min), my post
• FirstFedDirect - 5.26% (min $10K), my post
• IndyMac Bank - 5.25% (min $5K), my post
• GMAC Bank - 5.15% (min $500), my post
• Corus Bank - 5.15% (min $10K)
• Charles Schwab - 5.04% (min $1K), my post
• ebank - 5.00% (min $1K), 5.25% for ePremium checking customers
• ETrade Bank - 5.00% (min $1K), my post
• UmbrellaBank.com - 5.00% (min $1K)
• Self-Help Credit Union - 4.98% (min $500), my post

6-Month Certificates of Deposit:

• Superior Savings - 5.60% (min $500)
• Merrill Lynch Bank - 5.50% (min $25K), my post
• FirstFedDirect - 5.46% (min $10K), my post
• IndyMac Bank - 5.45% (min $5K), my post
• VirtualBank - 5.44% (min $10K), my post
• NetBank - 5.40% (min $1K)
• AmTrustDirect - 5.36% (min $1K) my post
• Tennessee Commerce Bank - 5.35% (min $5K)
• Corus Bank - 5.35% (min $10K)
• Imperial Capital - 5.35%, ($2K min), my post
• iGobanking - 5.30% (min $500), my post
• Countrywide - 5.30% (min $10K), my post
• UFB Direct - 5.30% (min $8K)
• Self-Help Credit Union - 5.27% (min $500), my post
• HSBC Direct - 5.25% (min $1K), new money only
• ETrade Bank - 5.25% (min $1K), my post
• E-LOAN - 5.25% ($10K min), my post
• EmigrantDirect - 5.20% (min $1K)
• GMAC Bank - 5.20% (min $500), my post
• EverBank - 5.15% ($1.5K min)
• ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
• UmbrellaBank.com - 5.10% (min $1K)
• Washington Mutual - 5.10% (min $1K), rates vary by state
• ING Direct - 5.00%, my post
• Wells Fargo - 4.80% (5 months) (min $5K), rate and min vary by state, my post

9-Month Certificates of Deposit:

• World Savings - 5.45% (10 months) (min $10K), my post
• AmTrustDirect - 5.41% (min $1K) my post
• Countrywide - 5.40% (min $10K), my post
• FirstFedDirect - 5.35% (min $10K), my post
• Imperial Capital - 5.35% ($2K min), my post
• NASA FCU - 5.25% (8 months) (min $5K), my post
• GMAC Bank - 5.25% (min $500), my post
• EmigrantDirect - 5.20% (min $1K)
• VirtualBank - 5.18% (min $10K), my post
• EverBank - 5.15% ($1.5K min)
• UmbrellaBank.com - 5.15% (min $1K)
• IndyMac Bank - 5.15% (min $5K), my post
• ING Direct - 5.05%, my post

12-Month Certificates of Deposit:

• Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
• AmTrustDirect - 5.46% (min $1K) my post
• NetBank - 5.45% (min $1K), my post ($100 bonus)
• Tennessee Commerce Bank - 5.40% (min $5K)
• ETrade Bank - 5.40% (min $1K), my post
• FirstFedDirect - 5.40%, (min $10K) my post
• Imperial Capital - 5.35% ($2K min), my post
• AmboyDirect - 5.35% (min $10K), my post
• Mutual Bank - 5.35% (min $2.5K) my post
• Navy FCU - 5.30% ($20K min) restrictions to membership, my post
• Corus Bank - 5.30% (min $10K)
• iGobanking - 5.30% (min $500), my post
• Melrose CU - 5.30% (min $5K) my post
• La Jolla Bank - 5.30% (min $10K), my post
• GMAC Bank - 5.30% (min $500), my post
• UFB Direct - 5.30% (min $8K)
• IndyMac Bank - 5.30% (min $5K), my post
• Transportation Alliance Bank - 5.27% ($1K min)
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• E-LOAN - 5.25% ($10K min), my post
• Self-Help Credit Union - 5.25% (min $500), my post
• EmigrantDirect - 5.20% (min $1K)
• Countrywide - 5.20% (min $10K)
• UmbrellaBank.com - 5.20% (min $1K)
• EverBank - 5.20% ($1.5K min)
• VirtualBank - 5.15% (min $10K), my post
• ING Direct - 5.10%, my post
• Washington Mutual - 5.10% (min $1K), rates vary by state
• GTE FCU - 4.96% (min $500) (add-on feature) my post

14/15-Month Certificates of Deposit:

• Navy FCU - 6.00% (15 months) ($8K min) restrictions to membership, my post
• Patelco Credit Union - 5.75% (14 months) ($1K min), not NCUA insured, my post
• NASA FCU - 5.35% (14 months) (min $1K), my post

18-Month Certificates of Deposit:

• Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
• NetBank - 5.45% (min $1K), my post ($100 bonus)
• E-LOAN - 5.38% ($10K min), my post
• iGobanking - 5.30% (min $500), my post
• GMAC Bank - 5.20% (min $500)
• Imperial Capital - 5.20% ($2K min), my post
• EmigrantDirect - 5.20% (min $1K)
• Countrywide - 5.20% (min $10K)
• ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
• AmTrustDirect - 5.15% (min $1K) my post
• ETrade Bank - 5.00% (min $1K), my post
• Mutual Bank - 4.85% (min $5K) my post
• UmbrellaBank.com - 4.75% (min $1K)

24-Month Certificate of Deposit:

• Mutual Bank - 5.47% (min $5K) my post
• Navy FCU - 5.40% ($20K min) restrictions to membership, my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• Presidential Bank - 5.30% (min $1K)
• Melrose CU - 5.25% (min $5K) my post
• Imperial Capital - 5.20% ($2K min), my post
• GMAC Bank - 5.20% (min $500)

36-Month Certificate of Deposit:

• Pentagon Federal CU - 5.50% (min $1K), my post
• Mutual Bank - 5.47% (min $5K) my post
• Navy FCU - 5.45% ($20K min) restrictions to membership, my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• First State Bank - 5.35% ($1K min), my post
• Agriculture FCU - 5.25% (min $1K), my post
• Fort Belvoir FCU - 5.23% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• Melrose CU - 5.20% (min $5K) my post
• E-LOAN - 5.20% ($10K min), my post
• Transportation Alliance Bank - 5.15% ($1K min)
• GMAC Bank - 5.10% (min $500)
• Imperial Capital - 5.10% ($2K min), my post
• ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
• Self-Help Credit Union - 5.02% (min $500), my post
• AmTrustDirect - 5.00% (min $1K) my post
• ETrade Bank - 5.00% (min $1K), my post
• Countrywide - 5.00% (min $10K)
• UmbrellaBank.com - 4.75% (min $1K)

48-Month Certificate of Deposit:

• Pentagon Federal CU - 5.50% (min $1K), my post
• Navy FCU - 5.50% ($20K min) restrictions to membership, my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• First State Bank - 5.35% ($1K min), my post
• Fort Belvoir FCU - 5.34% (min $1K), my post
• USA FCU - 5.33% (min $1K) my post
• Agriculture FCU - 5.25% (min $1K), my post
• Melrose CU - 5.25% (min $5K) my post
• EmigrantDirect - 5.20% (min $1K)
• E-LOAN - 5.20% ($10K min), my post
• Transportation Alliance Bank - 5.15% ($1K min)
• GMAC Bank - 5.10% (min $500)
• ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
• Self-Help Credit Union - 5.01% (min $500), my post
• Countrywide - 5.00% (min $10K)
• UmbrellaBank.com - 4.75% (min $1K)

60-Month Certificate of Deposit:

• Pentagon Federal CU - 5.75% (min $1K), my post
• Navy FCU - 5.70% ($20K min) restrictions to membership, my post
• Agriculture FCU - 5.50% (min $1K), my post
• Fort Belvoir FCU - 5.50% (min $1K), my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• USA FCU - 5.38% (min $1K) my post
• First State Bank - 5.35% ($1K min), my post
• Presidential Bank - 5.35% (min $1K)
• Melrose CU - 5.30% (min $5K) my post
• E-LOAN - 5.30% ($10K min), my post
• EmigrantDirect - 5.20% (min $1K)
• GMAC Bank - 5.15% (min $500)
• Transportation Alliance Bank - 5.15% ($1K min)
• VirtualBank - 5.15% (min $10K), my post
• Members Credit Union - 5.13% (min $2K), my post
• Imperial Capital - 5.10% ($2K min), my post
• AmTrustDirect - 5.10% (min $1K) my post
• Washington Mutual - 5.10% (min $1K), rates vary by state
• ETrade Bank - 5.05% (min $1K), my post
• Self-Help Credit Union - 5.02% (min $500), my post
• ebank - 5.00% (min $1K), 5.35% for ePremium checking customers
• Countrywide - 5.00% (min $10K)
• UmbrellaBank.com - 4.75% (min $1K)

84-Month Certificate of Deposit:

• Navy FCU - 6.25% ($20K min) restrictions to membership, my post
• Pentagon Federal CU - 6.00% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• Countrywide - 5.00% (min $10K)

High Rates with Conditions / Large Balances - Open to All

• 10% Affinity Savings Account for kids ($500 max)
• 6.01% Everbank 3-month intro rate on checking account
• 6.00% HSBC Savings Account New Money Promo
• 6.00% Money Market Account at Lockheed FCU ($10K Max)
• 6.00% Dime 3-month intro rate on Money Market account
• 5.58% Money Market Account with $250K initial deposit
• 5.40% Personal and Business Money Market Account with $100K balance
• 5.36% Money Market Account at Bank of America with $50K+

Checking and Saving Accounts at Local Banks/Credit Unions

• $250 Checking Account Bonus at South Carolina Federal
• $7.50% Checking/Savings Account up to $500 (Washington State)
• 6.10% Reward Checking Account at a Nevada CU (Clearstar Financial)
• 6.01% Checking Account up to $25K (Little Rock)
• 6.01% Checking Account up to $25k (Arkansas)
• 6.00% Money Market Account Intro Rate in New Jersey
• 5.61% Checking Account up to $25K (AL/TN/MS)
• 5.35% No-Minimum Online Savings Account (New York)
• 5.25% Money Market Account for 3 months (New York)
• 5.25% Checking Account (Florida)
• 5.05% Low-Minimum Online Savings Account (California)
• 5.01% Checking Account (Wisconsin/Illinois)
• 5.00% Money Market Account (Utah)
• 5.00% Checking Account at an Oklahoma Bank (Legacy)
• 4.75% Checking Account (Texas)

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

• Alabama deals and CD rates
• California deals and CD rates
• Colorado deals and CD rates
• Connecticut deals and CD rates
• Florida deals and CD rates
• Georgia deals and CD rates
• Illinois deals and CD rates
• Indiana deals and CD rates
• Kansas deals and CD rates
• Kentucky deals and CD rates
• Maryland deals and CD rates
• Michigan deals and CD rates
• Nevada deals and CD rates
• New Hampshire deals and CD rates
• New Jersey deals and CD rates
• New York deals and CD rates
• North Carolina deals and CD rates
• Ohio deals and CD rates
• Oregon deals and CD rates
• Pennsylvania deals and CD rates
• Washington State deals and CD rates
• Tennessee deals and CD rates
• Texas deals and CD rates
• Wisconsin deals and CD rates

Terms of 60 Months and Over

• 6.25% 120-Month CD at a New York Bank (Ridgewood Savings)
• 6.25% 60-Month CD at a Pennsylvania Bank - Variable (First National Community)
• 6.18% 60-Month CD at a Florida/Georgia Bank (Southeastern)
• 6.06% 60-Month CD at a Tennessee CU (MPD Community)
• 6.00% 80-Month CD at a Ohio CU (Sharefax)
• 6.00% 60-Month CD at a Ohio CU (AP FCU)
• 5.90% 72-Month CD at a Missouri Bank (Garden City)
• 5.83% 60-Month CD at a Florida Bank (Surety)
• 5.81% 60-Month CD at a Utah CU (Deseret First)
• 5.75% 60-Month CD at a Georgia Bank (Peachtree)
• 5.75% 60-Month CD at a NY/PA Bank (Community Bank, N.A.)
• 5.70% 84-Month CD at a Missouri CU (Neighbors)
• 5.65% 60-Month CD at a Washington Bank (Westsound)
• 5.50% 60-Month CD at a Georgia Bank (Alpha)
• 5.50% 60-Month CD at a Washington DC Bank (Adams National)

Terms of 24 Months to Under 60 Months

• 8.00% 24-Month CD at a Washington State CU - IRA (Spokane Law Enforcement)
• 6.98% 36-Month CD at a California Bank - Variable IRA (Alliance Bank)
• 6.15% 24-Month CD at a Florida CU (South Florida)
• 6.00% 24-Month CD at a New York CU - $50K Min (Palisades)
• 5.97% 24-Month CD at a California CU (Los Angeles)
• 5.92% 48-Month CD at a Florida/Georgia Bank (Southeastern)
• 5.80% 24-Month CD at a Massachusetts CU (Central One FCU)
• 5.80% 41-Month CD at a New Jersey CU (Tri-Co)
• 5.80% 24-Month CD at a Georgia CU (MACO Educators)
• 5.75% 24-Month CD at a Virginia CU (Bronco)
• 5.75% 24-Month CD at a Texas CU (United SA)
• 5.75% 24-Month CD at a New York CU (Buffalo Metropolitan)
• 5.75% 50-Month CD at a Ohio CU (AP FCU)
• 5.65% 24-Month CD at a Maryland/Virginia/DC CU (Washington Telephone)
• 5.65% 24-Month CD at a Oregon CU (NW Preferred)
• 5.64% 24-Month CD at a Ohio CU (Sharefax)
• 5.64% 35-Month CD at a Virginia CU (Baylands)
• 5.64% 24-Month CD at a Ohio CU (First Service)
• 5.55% 27-Month CD at a New Jersey CU (Tri-Co)
• 5.50% 36-Month CD at a St. Louis CU (Gateway Metro)

Terms of 12 Months to Under 24 Months

• 10.00% 12-Month CD at a New York CU - $2K Max (Palisades)
• 6.30% 14-Month CD at a Virginia CU - IRA (Apple)
• 6.05% 13-Month CD at a Florida CU (South Florida)
• 6.00% 12-Month CD at a Michigan CU (Huron River Area)
• 6.00% 18-Month CD at a Minnesota Bank - IRA (Park State)
• 6.00% 12-Month CD at a North Carolina CU (Carolina Postal)
• 6.00% 13-Month CD at a Illinois CU - IRA (Great Lakes)
• 6.00% 15-Month CD at a Connecticut CU - IRA (Achieve Financial)
• 6.00% 15-Month CD at a South Carolina CU Continues (MCAS Beaufort)
• 5.96% 12-Month CD at a Georgia CU (MACO Educators)
• 5.90% 12-Month CD at a Utah CU - and Other High Rates (Pacific Rails)
• 5.86% 12-Month CD at a Washington State CU - Variable (Cascade Forest Products)
• 5.81% 12-Month CD at a Ohio CU - $100K+ (CSE)
• 5.80% 12-Month CD at a Massachusetts CU (Central One FCU)
• 5.80% 15-Month CD at a Oregon/South Carolina CU (Consolidated)
• 5.75% 14-Month CD at a Alabama CU (Tuscaloosa)
• 5.75% 18-Month CD at a Missouri CU (Postal and Community)
• 5.75% 12-Month CD at a Georgia Bank (Integrity)
• 5.75% 12-Month CD at a Virginia CU (Bronco)
• 5.75% 12-Month CD at a Houston CU Continues - (Right Choice)
• 5.75% 12-Month CD at a California/Nevada CU (1st United Services)
• 5.75% 16-Month CD at a Virginia CU - (Apple)
• 5.74% 18-Month CD at a Missouri Bank (Eagle)
• 5.72% 12-Month CD at a Wisconsin CU - and a $50 Checking Bonus (Royal)
• 5.70% 18-Month CD at a Utah CU (Cyprus)
• 5.70% 15-Month CD at a Missouri CU (Kilowatt)
• 5.70% 12-Month CD at a Minnesota CU (SMW)
• 5.65% 12-Month CD at a Georgia Bank (Peachtree)
• 5.65% 13-Month CD at a Washington State CU (WSE)
• 5.61% 18-Month CD at a DC/MA CU (Transportation)
• 5.61% 12-Month CD at a DC/MA CU (Transportation)
• 5.60% 12-Month CD at a Georgia Bank (Alpha)
• 5.60% 12-Month CD at a Utah CU (Deseret First)
• 5.60% 12-Month CD at a Florida Bank (Coral Gables)
• 5.60% 15-Month CD at a Multi-State Credit Union (FAA Eastern Region)
• 5.56% 13-Month CD at a South Carolina Bank (Bank of Anderson)
• 5.55% 13-Month CD at a Utah Credit Union (Tooele)
• 5.55% 15-Month CD at a California CU - Open To All (Kinecta)
• 5.55% 12-Month CD at a Maryland/Virginia/DC CU (Washington Telephone)
• 5.55% 12-Month CD at a Texas Bank (Park Cities)
• 5.51% 13-Month CD at a South Dakota CU (Sentinel)
• 5.51% 16-Month CD at a Maryland CU (MCT)
• 5.50% 12-Month CD at a Texas Bank (Century)
• 5.50% 12-Month CD at a Massachusetts Bank (Needham Cooperative)
• 5.50% 16-Month CD at a New York CU (Bethpage)
• 5.50% 15-Month CD at a Missouri CU (Neighbors)
• 5.50% 12-Month CD at a Maryland/Virginia/DC Bank (Washington First)
• 5.50% 12-Month CD at a New York CU (Buffalo Metropolitan)
• 5.50% 12-Month CD at a Texas Bank and $50 Checking Account Bonus (Century)
• 5.50% 13-Month CD at a Alabama CU (Redstone)
• 5.50% 12-Month CD at a Texas CU (San Antonio)
• 5.50% 18-Month CD at a Washington Bank (Westsound)
• 5.50% 12-Month CD at a Kansas Bank (Capitol Federal Savings)
• 5.50% 18-Month CD at a Maryland CU (Tower)
• 5.50% 17-Month CD at a Kentucky CU (Fort Knox)
• 5.40% 12-Month CD at a Texas CU (United SA)
• 5.39% 15-Month CD at a Philadelphia Bank (Asian Bank)

Terms of Under 12 Months

• 10.00% 6-Month CD at a IN/MI/GA Bank Continues - $2.5K Max (Flagstar)
• 8.16% 5-Month CD at a Wisconsin CU - $4K Max (Northwoods Community)
• 7.00% 6-Month CD at a CA Credit Union - $5K Max (Pacific Service)
• 7.00% 7-Month CD at a California CU - $7K Max (Wescom)
• 6.15% 6-Month CD at a Florida Bank (Coast Bank of Florida)
• 6.00% 10-Month CD at a Michigan CU (Lake Michigan)
• 6.00% 3-Month CD at a Virginia CU (Arlington Virginia)
• 6.00% 7-Month CD at a Colorado CU (US Alliance)
• 6.00% 5-Month CD at a New Jersey Bank (Valley National)
• 5.92% 11-Month CD at a New York / Pennsylvania CU (Visions)
• 5.92% 6-Month CD at a New York / Pennsylvania CU (Visions)
• 5.80% 7-Month CD at a Oregon/South Carolina CU (Consolidated)
• 5.80% 10-Month CD at a Colorado Bank (Summit Bank and Trust)
• 5.80% 9-Month CD at a Georgia Bank (Bank of Georgia)
• 5.80% 6-Month CD at a Georgia Bank (Bank of Georgia)
• 5.75% 6-Month CD at a Georgia Bank (Integrity)
• 5.75% 3-Month CD at a California CU (San Jose)
• 5.75% 6-Month CD at a California CU (San Jose)
• 5.75% 9-Month CD at a Maryland CU (Prince George's Community)
• 5.70% 7-Month CD at a Iowa Bank (American Bank)
• 5.65% 9-Month CD at a Arizona CU (Arizona Federal)
• 5.65% 11-Month CD at a Missouri CU (River Region)
• 5.65% 7-Month CD at a Dallas Bank (Jefferson)
• 5.65% 6-Month CD at a Georgia Bank (Columbus Community)
• 5.62% 11-Month CD at a Alabama Bank (The Peoples)
• 5.60% 11-Month CD at a Maryland CU (Point Breeze)
• 5.60% 6-Month CD at a Texas CU (San Antonio)
• 5.58% 4-Month CD at a Arizona CU (Vantage West)
• 5.58% 3-Month CD at a Arizona CU (Vantage West)
• 5.57% 11-Month CD at a Maryland CU (MCT)
• 5.55% 8-Month CD at a California CU - IRA (San Diego County)
• 5.55% 11-Month CD at a California CU (LA Financial)
• 5.55% 5-Month CD at a Illinois CU - IRA (Great Lakes)
• 5.55% 5-Month CD at a Kansas Bank (Halstead)
• 5.50% 11-Month CD at a Florida Bank (Platinum)
• 5.50% 6-Month CD at a California/Nevada CU (1st United Services)
• 5.50% 9-Month CD at a Florida CU (Achieva)
• 5.50% 6-Month CD at a Washington DC Bank (Adams National)
• 5.50% 6-Month CD at a Missouri CU - and Gift Card (American Eagle)
• 5.50% 6-Month CD at a California Bank (Luther Burbank Savings)
• 5.50% 9-Month CD at a Colorado Bank (Academy)
• 5.50% 11-Month CD at a California Credit Union and $75 Checking Bonus (California)
• 5.50% 11-Month CD at a Oregon CU (NW Preferred)
• 5.50% 7-Month CD at a Kentucky CU (Fort Knox)
• 5.50% 7-Month CD at a Indiana Bank (Monroe)
• 5.40% 9-Month CD at a Chicago Bank (Builders)
• 5.35% 11-Month CD at a Chicago Bank (Park National)
• 5.35% 8-Month CD at a New York CU (Bethpage)

Bank Account Alternatives

• Money Magazine article on risk-free investments
• Vanguard Prime Money Market Fund - 5.10% 7-day yield
• Fidelity Money Market Fund - 4.96% 7-day yield ($100 bonus and other info)
• Paypal Money Market Fund - 5.02% 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

[Edited 2/25/07: Removed inaccurate info on the bank that was liquidated.]

5.50% 7-Month CD at an Indiana Bank (Monroe) read and submit comments for this post

Monroe Bank is offering a special 5.50% APY 7-month certificate of deposit. The minimum deposit is $1,000. There's also a special 13-month CD with a yield of 5.40% APY.

Branches are located in the Indiana cities of Bloomington, Bedford, Carmel, Brownstown and Avon. Carmel and Avon are in the suburbs of Indianapolis. The bank has been FDIC insured since 1934.

5.50% 7-Month / 5.50% 17-Month CD at a Kentucky CU (Fort Knox) read and submit comments for this post

Fort Knox FCU is offering a special pick-a-term certificate of deposit with a yield of 5.50% APY. The available terms are from 7 to 11 months and from 13 to 17 months.

This credit union has offered many CD specials in the last year. Last month I had reported on its 6.15% 7-month CD special. Unfortunately, this one has ended.

The credit union's field of membership includes those who live, work or worship in the following Kentucky counties: Boyle, Breckinridge, Grayson, Hart, Larue, Meade and Nelson. There's also a large list of select employer groups. Relatives on any person who can be a member may also join. There's a $5 membership fee, and a minimum $5 deposit into a share savings account is required.

The credit union currently has several branches across Kentucky. It is federally insured by the NCUA.

$50 Checking Account Bonus at BB&T Bank read and submit comments for this post

BB&T Bank is offering a $50 bonus for opening one of its personal checking accounts. The nice thing about this promotion is that it doesn't require direct deposit. The offer ends on March 25, 2007. Any personal checking account is eligible. The account must be opened online or by phone (800-BANK-BBT). The bonus will be paid by April 30, 2007 and will be reported to the IRS as 1099-INT.

The free checking account is the best deal for this promo. It requires only a $50 minimum opening deposit. It has no monthly fees or minimum balance requirements. The Student Free checking is even better with no minimum opening deposit, but you have to be under 24.

I called the BB&T yesterday, and the service rep stated that this promotion is available to people in any state, even in states without BB&T branches. However, it has been reported that the online application restricts account opening to people in states that have BB&T branches. If you're not in a state with a BB&T branch, I would recommend calling to see if you are eligible.

The service rep said that only a soft credit inquiry would be done rather than a hard inquiry. Take this with a grain of salt. The service rep wasn't too familiar with this issue.

BB&T has branches in North Carolina, South Carolina, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Florida, Alabama, Indiana and Washington, D.C. The bank is FDIC insured.

Credit for finding this promo goes to Slickdeals member db0973 who posted it on this slickdeals thread.

[2/25/07 Edit: Updated info on state eligibility.]

5.55% 5-Month CD at a Kansas Bank (Halstead) read and submit comments for this post

Halstead Bank is offering a special 5.55% APY 5-month certificate of deposit. The minimum deposit is $2,500. There is also a special 13-month CD with a yield of 5.25% APY.

Branches are located just north of Wichita, Kansas in the cities of Halstead, Bentley and Valley Center. The bank has been FDIC insured since 1955.

5.65% 24-Month / 5.50% 11-Month CD at an Oregon CU (NW Preferred) read and submit comments for this post

NW Preferred Credit Union is offering a special 5.65% APY IRA certificate with terms from 12 to 24 months. The minimum deposit is $500. Also available are regular certificates with a yield of 5.50% APY. Terms from 6 to 11 months can be chosen. The minimum deposit is $5,000, and it must be new money. The IRA special expires on February 28th. The customer service rep didn't know how long the 5.50% would last.

CD promotions at NW Preferred seems to be fairly common. The last one that I had reported on was in November when they offered a 5.75% 36-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 federally insured by the NCUA. It has $87.4 million in assets and 7,452 members.

5.50% 11-Month CD at a California Credit Union and $75 Checking Bonus (California) read and submit comments for this post

California Credit Union is offering a 5.50% APY 11-month Expert Earner Savings Certificate. The minimum deposit is $10,000, and it requires new money.

They still have a $75 bonus for opening a new free checking account. It requires direct deposit. There are no monthly fees or balance requirements. The first order of checks are free.

The credit union had several CD promotions last year including 8% 8-month $5K max CD. My last report on this was in August.

Field of membership primarily includes employees of California schools. However, the FOM also allows you to qualify if you are a Parent Teacher Association or Parent Teacher Student Association member. If you're not a member, they can sign you up.

The main office is located in Glendale, California. It has several other branches in Los Angeles, North Hills, Encino, Pasadena and Torrance.

The credit union is NCUA insured with $1.2 billion in assets and almost 77,587 members.

5.80% 6-Month / 5.80% 9-Month CD at a Georgia Bank (Bank of Georgia) read and submit comments for this post

The Bank of Georgia is offering a special 5.80% APY certificate of deposit with choice of terms from 3, 6 or 9 months. The minimum deposit is $500, and it requires a checking account. The bank does offer a Free Checking account with no minimum balances or monthly fees.

Branches are located in the Georgia cities of Peachtree City, Fayetteville, Newnan, Tyrone and Fairburn. These cities are about 20 to 40 miles south and southwest of Atlanta.

The bank has been FDIC insured since 2000.

5.75% 12-Month / 5.80% 36-Month CD at Georgia CU (Atlanta Postal) read and submit comments for this post

Atlanta Postal Credit Union has high yields on all of its long-term certificates. The yields range from 5.75% APY for a 1-year CD to 5.85% APY for a 5-year CD. The minimum deposit is $500. The same rates are also offered for IRA certificates.

Field of membership is primarily based on select employee groups. In addition to active or retired US Postal Service employees, several other employee groups are listed. Also, all federal employees, active or retired, working or residing in the 310 zip code area of Georgia are eligible. Membership requires a $25 minimum deposit into a share savings account.

The credit union is federally insured by the NCUA. It's a large credit union with $1.5 billion in assets and 93,276 members.

How to Negotiate Higher CD Rates read and submit comments for this post

This Market Watch article mentions some things to consider when you try to negotiate a higher deposit yield at your bank. According to the article many large banks are giving their branch managers more authority to give certain customers better rates. As you would expect, the more money you're going to deposit and the longer you've been a customer, the more likely the manager will bend. It's mentioned, however, that banks don't have much room to go with the higher rates. So don't expect too much of a rate increase.

As I found out with World Savings last December, negotiations don't always help. Another method that I've found helpful is if you request the bank match an offer from a competitor. This worked for me at World back in October when Citibank was offering a 6% CD.

Case Study of a Recent Bank Failure read and submit comments for this post

Pittsburgh Tribune-Review had an article on the recent FDIC take-over of the Metropolitan Savings Bank in Pittsburgh, Pennsylvania. This was the first bank in the nation to be taken over since June 2004. So it's not too common. The State Banking Department cited the bank for unsafe business practices, refusal to cooperate with the examiners and the possibility the bank couldn't meet depositors' demands. The FDIC then came in and took over the operations. $12 million in deposits were sold to a nearby bank. So no customers with deposits under the FDIC limits should have lost any deposits.

One thing noted in the article was how much of a surprise this was for the locals. The bank had been founded in 1892. It was a very small bank with less than $16 million in assets. Bankrate.com gave it 4 out of 5 stars (sound) in its safe-and-sound rating based on September 30, 2006 financial data. BauerFinancial had already delisted it from its database. With the conservatorship of Huron River Area Credit Union (post), some readers had noted that the most important factor may be the current management. Long track records can be irrelevant.

Update: Only insured deposits were transfered to new bank.

5.64% 24-Month CD at an Ohio CU (First Service) read and submit comments for this post

First Service FCU is offering a February special 5.64% APY 24-month share certificate. The minimum deposit is $1,000.

Field of membership includes all those who live, work, worship or attend school in Franklin County, Ohio. Membership requires a balance of $50 in your share savings account.

Branches are located in and around Columbus. The credit union is federally insured by the NCUA. It has $93.8 million in assets and 17,627 members.

5.50% 9-Month CD at a Colorado Bank (Academy) read and submit comments for this post

Academy Bank is offering a 5.50% APY 9-month certificate of deposit. The minimum is $500.

According to the service rep, this rate is only available to those in Colorado. Branches are located in Wal-Mart Supercenters in several areas of the state including Denver, Aurora, Avon, Colorado Springs and Fort Collins. Even though the bank's location page lists several other states, rates at those locations are under the Armed Forces Bank. The 9-month CD for this bank is only 5.20%.

Academy Bank has been FDIC insured since 1966.

8.00% 24-Month CD at a Washington State CU - IRA (Spokane Law Enforcement) read and submit comments for this post

Spokane Law Enforcement Credit Union is offering a 8% APY 24-month IRA certificate of deposit. The minimum is $2,000.

Field of membership is narrow and is primarily based on select employee groups associated with law enforcement around the Spokane area. It may extend beyond immediate family members since it states you can be related by blood, marriage or adoption.

The credit union is federally insured by the NCUA.

5.50% Money Market Account Promotion at UMB Bank read and submit comments for this post

UMB Bank has a money market account promotion with a rate of up to 5.50% APY with balances over $10K. The rate is guaranteed until July 1, 2007. It must be opened by February 24th or by March 1st if you print out their rain check and bring it with you.

UMB doesn't do a good job at disclosing an important issue. The rate is only 5.25% APY for balances over $10K if certain conditions are not met. There's no mention of these conditions in the promotional webpage. So I called and was told that the 5.50% requires that you initiate direct deposit within 60 days of account opening and you add at least one additional product. This can include a VISA credit card, HELOC or a brokerage account.

Some other important details of this money market account include: $1,000 minimum balance to avoid $10/month fees, $100 minimum deposit to open, and a 0.50% APY for balances under $10K. According to the CSR, no hard credit inquiry is done in the application approval process. Only a soft pull is done.

This offer is only available to consumers residing in states where UMB has branches. These include Arizona, Colorado, Illinois, Kansas, Missouri, Nebraska and Oklahoma.

UMB Bank has been FDIC insured since 1934.

[2/22/07 Edit: Updated links by including www in the URLs to ensure link to UMB Bank]

Online Savings Account Study - Promos and Strong Brands Help read and submit comments for this post

There are a few bits of interesting info in this study of online savings accounts. In the last year, Citibank and Washington Mutual have taken a large chunk of market share of new account applicants away from ING Direct. With high yield savings account rates higher than what ING Direct offered combined with their strong brand name, I can understand why. The study also shows Emigrant Direct losing ground in the last year. The last time Emigrant Direct offered a rate that created excitement was back in September 2005 when they bumped their rates by 0.5% to 4.00% APY. So this also makes sense

HSBC has also been taking away market share, and their 6% new-money promo seems to be helping (see my HSBC 6% post). The study shows a big jump of recent unique visitors to HSBC Direct's website and of new account openings. Hopefully, this will encourage other banks to offer similar promotions. Perhaps EmigrantDirect will get back into the game.

One thing this study doesn't show is how much market share all the other online banks are taking (such as E-LOAN, GMAC Bank, AmTrustDirect, etc.) Another problem I have with the study is that the percentages don't add up. The Q4 2006 percentages adds up to 102%. I guess this might be round-off errors. I would have thought the total might be around 90% with 10% consisting of other online banks.

Thanks to the reader who mentioned this study.

Digital Camera Checking Account Bonus at KeyBank read and submit comments for this post

KeyBank just came out with a new checking account promotion. They're offering a free digital camera (Canon Powershot A460) for opening a new personal checking account and either: 1) Set up Direct Deposit and/or automated payments and complete two transactions of $150 or more by June 1, 2007, OR 2) use your new checking account to make 20 transactions (including ATM withdrawals, online banking, writing checks) and be approved for a new Key credit card by June 1, 2007. The checking account must be opened by March 30, 2007.

Setting up two automated payments of $150 seems like a painless way of qualifying. KeyBank's iPod nano offer last summer didn't give this option.

Some important details from the small print include: You will receive your camera by July 31, 2007. Offer available only to individuals without an existing checking account at KeyBank as of February 16, 2007. The value of the camera will be reported on Form 1099-INT.

The Canon Powershot A460 has 5 megapixels, 4X optical zoom and a 2-inch LCD screen. The current lowest price on Froogle is $128.55.

Some features of the Key Free Checking include:

• $50 minimum opening deposit
• No monthly fees
• No minimum balance requirements
• ACH transfer capability

Some fees to be aware of include:

• $2 fee for using non-KeyBank ATMs
• $25 early closing fee if closed before 180 days

According to the customer service rep, they don't do a hard credit inquiry. They only use ChexSystem in the application approval process.

This KeyBank offer is not available in all states. I believe it's only available where KeyBank has branches which includes Alaska, Colorado, Idaho, Indiana, Kentucky, Maine, Michigan, New York, Ohio, Oregon, Utah, Vermont and Washington State.

KeyBank has been FDIC insured since 1956.

5.50% 18-Month CD at a Maryland CU (Tower) read and submit comments for this post

Tower FCU is offering a special 5.50% APY 18-month share certificate. The minimum deposit is $10,000, and it requires new money.

Field of membership includes employees and members of a long list of companies and associations. See site for details. Membership requires a deposit of $15 into a savings account.

Branches are located in several Maryland cities including Laurel, Hanover, Columbia and Pasadena. The credit union is federally insured by the NCUA. It's a large credit union with $1.6 billion in assets and 114,885 members.

$50 Checking Account Bonus at a Tennessee Bank (Independent) read and submit comments for this post

Independent Bank is offering a $50 gift card for opening its free checking account. This special is not listed at the bank's website. It was advertised in the Sunday's Memphis newspaper. The ad is available online here. One thing to note is that the only apparent requirement for the bonus is new money to open the account. There is no mention of direct deposit. The free checking account requires an opening deposit of $100, but there are no minimums after account opening and no monthly fees.

In addition to the checking account bonus, the bank also has a decent CD promotion with a 5.25% APY 5-month CD.

Branches are located in Memphis and Collierville, TN. The bank has been FDIC insured since 1998.

Huron River Area Credit Union Placed into NCUA Conservatorship - What Does This Mean? read and submit comments for this post

The NCUA has just issued this media release which states that the State of Michigan on February 16th has placed Huron River Area Credit Union into Conservatorship under the NCUA.

This is of particular interest since Huron River Area CU has been advertising 6% CDs for the last several months (see my last Huron post). It's a moderate size credit union with $348.8 million in assets and 39,318 members. Also, their easy field of membership has allowed many people outside of Michigan to join.

So what does this mean? The Credit Union National Association had an article regarding a past conservatorship action by the NCUA. In that article, it states:

Conservatorship means NCUA will run the credit union in an attempt to restore its safety and soundness and return it to members.

I also found the following information about conservatorship in this CUNA document (doc) regarding pending federal legislation:

NCUA's conservatorship authority, originally granted in the Garn-St Germain Act of 1982, has proven to be an effective administrative tool in ensuring the safety and soundness of credit unions. It permits the agency to freeze an institution's activities and there-by prevents a dissipation of assets. Conservatorship is particularly valuable where publicity may trigger substantial withdrawals and thus endanger the soundness of the credit union. In some cases obtaining control of a credit union's operations and assets has precluded criminal officials, from tampering with or destroying records of their activities. It is also beneficial where the true causes of a credit union's problems are not easily learned. By taking control of the credit union to examine the nature of the credit union's problems, the Committee expects that the interests of all concerned will be best protected. If problems are not sufficient to warrant liquidation, it allows the NCUA Board the flexibility to work with credit union personnel to reopen the institution while at the same time preserving its integrity.

In short, NCUA will assume the management of the credit union. Here are some possible outcomes: 1) It may be merged into a stronger credit union, 2) The safety and soundness issues may be resolved by the NCUA management, and the credit union will be handed back to the members, or 3) If there are problems too severe to resolve, it could be liquidated. NCUA would ensure all insured deposits are returned to members.

It'll be interesting to see if the 6% CD deals and easy membership continue. Perhaps they'll need those promotions to keep deposits. I guess it'll be up to the NCUA management.

Some experienced readers made some good suggestions for members of Huron (which applies to members of any credit union). First, make sure your deposits are under the NCUA insurance limits (see post). Second, make sure you keep good account records. One reader mentioned the problems he had when his old credit union was merged into a new one and the records weren't fully transferred. He had to bring in original records to resolve the issue.

This incident also points out the advantage of NCUA membership. Some credit unions like Patelco are not NCUA insured and only have private insurance through American Share Insurance. As we see in this case, the NCUA does more than just provide insurance. It also takes actions like conservatorships to reduce incidents of credit union failures. I'm not sure how much ASI does in this respect.

It's interesting to see what financial ratings Huron River Area Credit Union has received. One problem with ratings is that it's often based on data that can be several months old. For example, the current ratings are based on September 30, 2006 financial data. BauerFinancial gives Huron 5 out of 5 stars (superior). Bankrate.com gives Huron 3 out of 5 stars (performing) with a G status which designates high growth. A reader also noticed this growth in Huron's financial data mentioning that it had grown from $252M to $363M in the last year which seems unusual in Michigan. Also he noted it had been making a lot of loans.

To review more of Huron River Area CU's NCUA status and financial reports, please refer to this NCUA page. Thanks to the readers who noted this NCUA action and provided their experience on this issue.

5.55% 12-Month/18-Month CD at Greystone Bank read and submit comments for this post

Greystone Bank is offering very competitive certificate of deposit rates on mininum deposits of $50K. The yield on the 12 and 18-month CD is 5.55% APY. Interest is compounded daily and paid quarterly. It can be paid out or capitalized back into the principal. The maximum early withdrawal penalty is 90 days of interest.

It appears that people from any state can open these CDs via an online application. They do have a toll-free number. I tried to call for more information, but it appears they're out for President's Day. In the online application, they provide a field to allow joint, trust and payable-on-death options that would allow you to go above the $100K FDIC limits (see my FDIC post).

The bank is located in Raleigh, North Carolina. It's a new bank that was just established in 2005, and consequently, it doesn't have any Bankrate rating. It is FDIC insured. The bank is small. According to the FDIC data as of September 30, 2006, it only has 5 employees and total assets of $19 million.

6.00% 5-Month CD at a New Jersey Bank (Valley National) read and submit comments for this post

Valley National Bank is offering a 6.00% APY 5-month certificate of deposit. It requires a checking acocunt with direct deposit. Without this the APY is 5.50%. The minimum deposit is $500 and the maximum is $500K. This CD special isn't listed at the bank's website. It was advertised in a New Jersey newspaper. The ad is available online here. According to the service rep, any of their checking accounts will qualify. Note these do have monthly fees if minimum balances are not maintained.

The special is only available at the bank's Highlands and Keansburg branches.

The bank has been FDIC insured since 1934.

10% 6-Month CD at an IN/MI/GA Bank Continues - $2.5K Max (Flagstar) read and submit comments for this post

Flagstar Bank continues to offer a special 10.00% APY 6-month certificate with a $500 minimum and a $2,500 maximum deposit. 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 last Saturday's Fort Wayne News Sentinel. The ad is available online here. Please refer to my last post for more information about Flagstar and this special CD.

5.00% Checking Account at a California Bank (Sterling Bank and Trust) read and submit comments for this post

Sterling Bank and Trust is offering a 5% APY checking account with a minimum balance of $500 and a maximum balance of $1,000,000. It does require monthly direct deposit (payroll, social security, pension and the like). This special is not listed at the bank's website. It was advertised in yesterday's SFGate newspaper. The ad is available online here.

The bank also has some decent rates on CDs. These include a 5.45% APy 6-month CD and a 5.40% APY 1-year CD. The minimum deposit is $500.

Branches are located in several areas of San Francisco, CA. The bank has been FDIC insured since 1984.

$100 Checking Account Bonus at Comerica Bank read and submit comments for this post

Comerica Bank is offering up to a $100 bonus for opening a checking account with direct deposit and other services. Smaller bonuses are available without direct deposit. Here are the details from the promotional page:

$100 - Open a new Comerica checking account with Visa Check Card, Direct Deposit, Overdraft Protection, and Comerica Web Bill Pay

$50 - Open a new Comerica checking account with Visa Check Card plus one of the following: Direct Deposit, Overdraft Protection, or Comerica Web Bill Pay

$25 - If you have an existing checking account with a Visa Check Card, simply add two of the following: Direct Deposit, Overdraft Protection, or Comerica Web Bill Pay

And here's the small print of the offer. Note, it expires on February 28th and requires a $50 minimum opening deposit.

Offer valid through February 28, 2007 and limited to one new or existing checking account per customer. New account offer requires a $50.00 minimum opening deposit of money not already on deposit with Comerica. Rewards will be paid between 90-120 days of account opening for new accounts and between 90-120 days of the addition of the services for existing accounts. To qualify by signing up for Comerica Web Bill Pay, you must complete 3 online bill payments within 60 days of account opening for new accounts, or within 60 days of the addition of the service for existing accounts. Overdraft protection may be through your Comerica Credit Card, your Comerica Home Equity FlexLine account or a qualifying savings or money market investment account. A qualifying direct deposit may be in the form of payroll, pension, Social Security or other recurring payment and must be set up within 60 days of account opening for new accounts, or within 60 days of the addition of the service for existing accounts. New account opening is subject to Comerica's approval. All rewards constitute interest for IRS reporting purposes.

Branches are located in Michigan, California, Texas, Arizona, and Florida. The bank has been FDIC insured since 1934.

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

6.00% 100-Day CD and $100 Checking Bonus at a Wisconsin Bank (Grafton State) read and submit comments for this post

Grafton State Bank is offering a special 6.00% APY 100-day certificate of deposit. The minimum deposit is $5,000. It also requires opening their MainStreet Interest Checking account with a minimum deposit of $100, but this gives you a $100 bonus. There are no monthly maintenance fees or minimum balance requirements, however, you are required to maintain at least 2 other services which can include a CD, credit card, or ATM/Debit card. The offer is available through February 28, 2007.

The bank has 4 branches. The main branch is in Grafton, Wisconsin which is located about 15 miles north of Milwaukee.

The bank has been FDIC insured since 1934.

ING Direct Bumps Up Electric Orange Checking Account Rate read and submit comments for this post

ING Direct raised the rates on its new Electric Orange Checking account yesterday. Balances under $50K now earn 4% APY (up from 3% APY). The rates for balances over $50K remain the same (5.05% APY for $50K to $100K and 5.30% APY for over $100K). This checking account is still only available to certain existing savings account customers. Newspaper reports last November had stated that this checking was planned to be available to everyone starting on February 1st. I wonder why ING Direct has delayed the launch. Perhaps they're waiting for HSBC's promo to die down some. The 1% bump in rate is pretty significant. I wonder if that's being done to make it more marketable for the launch. The 5%+ rates are nice, but the $50K+ checking account balance is out of range for most people.

I was one of the savings account customers who was given the chance to open an EO account. So I gave it a try a couple of weeks ago. Since there are no monthly fees or minimum balance requirements, I didn't have any concerns. It was very easy to sign up. Money can be transfered from your linked account or from your savings account. I received the ATM/debit card in the mail about a week after it was opened. One thing I still want to do is to send myself one of their paper checks to see how long it takes and what it looks like. I've heard that the check can be easily mistaken for junk mail. So that concerns me if I'm going to use this for rent or some other payment to people not familiar with ING Direct.

For more details about this account, please refer to my November post. Several good points have made by commenters in that post. Many didn't like the fact that there's no checkbook. As one commenter mentioned:

Electric Orange fails to provide paper checks to its account holders. I'll repeat that: No paper checks. That's like a salad bar neglecting the lettuce. Sure, I understand that with a digital account, you expect your customers to remain tethered to a digital world. It sounds great, but the real world needs real checks.

Another concern was ING's ATM network (Allpoint) which may not be convenient for some. As one reader mentioned:

The ATM part is a mixed bag -- the allpointnetwork is usable for me, but not great. What would be nice is if ING offered a little more incentive for their lack of branches. If they had, for example, no charge for one or two reimbursements of foreign banks ATMS fees per month that would be excellent.

Another issue with any online-only checking account is having to mail in checks for deposit. Several banks have started using remote deposit in which you can scan a check from home without having to physically deliver the actual check to the bank. This isn't available with the Electric Orange Checking Account.

6.25% 60-Month CD at a Pennsylvania Bank - Variable (First National Community) read and submit comments for this post

First National Community Bank is offering a 6.25% APY 5-year variable rate certificate of deposit. It's based on the Prime Rate and is guaranteed not to drop below 4%. The 6.25% yield requires a checking account. Without the checking, the yield is 6% APY. The minimum deposit is $1,000 and the maximum is $100K. The early withdrawal penalty is 6 months of interest.

According to the service rep. they require a branch visit to open accounts. Branches are located in several Pennsylvania cities including Shavertown, Scranton, Plains and Pittston.

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

6.15% 6-Month CD at a Florida Bank (Coast Bank of Florida) read and submit comments for this post

Coast Bank of Florida is offering a 6.15% APY 6-month certificate of deposit. The minimum deposit is $500. The 6.15% yield requires the Platinum Relationship Checking. Without this, you can still get a 6% APY CD. This special is not listed at the bank's website. A reader had emailed me this special, and I called for further information last Friday. The customer service rep didn't know how long this would last. He said that it could be opened by mail including by those out-of-state. Please note that small banks often change this policy, so be sure to check with the bank first.

The bank has several branches around Southwest Florida including the cities of St. Petersburg, Bradenton and Clearwater.

The bank has been FDIC insured since 2000. It has a 3 out of 5 star safe-and-sound rating (performing) at Bankrate.com. However, one thing to note is that the bank currently is facing problems with some bad loan deals (see news article).

Bank Deals Weekly Summary for February 17, 2007 read and submit comments for this post

The best savings account deal this week continues to be HSBC Direct's 6% new money promo (see post). However, if you're more concerned with having the highest savings account rates for the long term, you may want to consider other options such as AmTrustDirect. It increased the rate on its e-Money Market Account from 5.30% to 5.36% APY this week (see post). AmTrustDirect's rate had been at 5.30% since last September. All during this time until the recent promo, HSBC Direct's rate held at 5.05% APY.

I posted on a new online savings account this week at FNBO Direct. This is another no-minimum online savings account with a competitive 5.25% APY yield (see post). Earlier this month I had posted on another new online bank at Direct Huntington which is offering 5.30% (see post). Both of these are from brick-and-mortar banks which are trying to enter the new online savings account market. These B&M banks are quietly entering this market. They don't want to see a mass movement of their deposits go from the low-interest B&M accounts into these high yield accounts. Neither one has any links on their main banking sites pointing to these new online savings account sites.

CD rates seem to be slowly trending up. E-LOAN increased rates on several of its CD terms this week. The highest rate is now 5.38% APY on its 18-month CD. Merrill Lynch Bank has a new special 5.50% APY 6-month CD for deposits over $25K (see post). Netbank continues to increase its CD rates (see post). You can now get a 5.50% APY 1-year CD at Netbank, and if you're a new customer, you can get a $100 bonus. Mutual Bank started some new long-term CD specials with a 5.47% APY 24-month and 36-month CD (see post).

Several credit unions (some with easy membership) continue to offer special CDs with rates around 6%. These include Navy FCU with a 6% 15-month CD (see post), Huron River Area Credit Union with a 6% 12-month CD (see post), MACO Educators FCU with a 5.96% 12-month CD (see post) and Patelco Credit Union with a 5.75% 14-month CD (see post). In addition to CDs, Lockheed FCU has a 6% money market account for balances up to $10K. Lockheed FCU is another credit union with easy membership (see post).

There's a good local CD deal for those who live near Jacksonville, Florida. Southeastern Bank is offering a 6.18% APY 60-month CD (see post). For more local deals, please refer to the local CD list. Many of these deals don't last long. Please check with the bank or credit union's website to confirm availability. If you find any that are out-of-date, a comment would be 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 Feb 10th, Feb 3rd, Jan 27th, Jan 20th, Jan 13th, Jan 6th, Dec 30th and Dec 23rd (short version).

As of February 17, 2007

Savings Accounts/Money Market Accounts:

• Geauga Savings Bank - 5.45% ($25K min), see post
• AmTrustDirect - 5.36% ($1K min), my post
• BankUnited - 5.35% (min $5K), my post
• UFB Direct - 5.31%, my post
• Direct Huntington - 5.30% ($1K min), my post
• OneUnited - 5.30% (min $1K), my post
• Zions Bank - 5.30% MMA (min $1K) (5.34% $50K+), my post
• iGobanking - 5.30%, my post
• Apple Bank - 5.27%, my post
• WTDirect - 5.26% ($10K min), my post
• Countrywide - 5.25% (min $10K), (5.40% $50K+) my post
• Presidential Bank - 5.25% (min $5K, only first $35K receives this rate), offers 4.50% checking, my post
• AmboyDirect - 5.25% (5.35% for $20K+), my post ($25 bonus)
• E-LOAN - 5.25% ($5K min), my post
• FNBO Direct - 5.25%, my post
• CapitalOne/Costco - 5.20% MMA (min $5K, Costco members only, $25 deal for exec. members)
• FirstFedDirect - 5.16% (min $1K) (closed to CA residents), my post
• Corus Bank - 5.15% MMA (min $10K to open)
• Discover Bank - 5.14% MMA (min $10K)
• Mutual Bank - 5.10% MMA (min $5K), my post
• MyBankingDirect - 5.10% MMA (min $5K), my post
• Tennessee Commerce Bank - 5.07% (min $10K), my post
• ETrade Bank - 5.05%, my post ($25 bonus)
• HSBC Direct - 5.05%, (6% new money promo) offers checking, my post
• EmigrantDirect - 5.05%, my post, (rate history)
• UmbrellaBank.com - 5.00% MMA (min $1K) (5.15% $50K+), offers checking, my post
• GMAC Bank - 5.00% MMA (min $500), my post
• CapitalOne - 5.00% (MMA has same rate, but with checks and ATM. $100 min.), my post
• ebank - 5.00% Checking ($2.5K min), my post
• Washington Mutual - 5.00% (requires checking), my post
• Citibank - 4.75%, requires checking account, my post ($200 bonus)
• Self-Help Credit Union - 4.68% MMA (min $500), my post
• EverBank - 4.61% ($1.5K min), 6.01% 3-mo promo, 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)
• ING Direct - 4.50%, my post ($25 bonus), (rate history)
• MetLife Bank - 4.40% MMA (min $5K), my post ($50 bonus)
• Imperial Capital - 4.20% MMA ($2.5K min), offers free checking, my post
• NetBank - 3.75% 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 - 5.44% (min $10K), my post
• Imperial Capital - 5.30%, ($2K min), my post
• Countrywide - 5.30% (min $10K), my post
• UFB Direct - 5.30% (min $8K)
• IndyMac Bank - 5.30% (min $5K), my post
• FirstFedDirect - 5.26% (min $10K), my post
• Corus Bank - 5.15% (min $10K)
• GMAC Bank - 5.15% (min $500), my post
• Charles Schwab - 5.04% (min $1K), my post
• UmbrellaBank.com - 5.00% (min $1K)
• ETrade Bank - 5.00% (min $1K), my post
• ebank - 5.00% (min $1K), 5.25% for ePremium checking customers
• Self-Help Credit Union - 4.98% (min $500), my post

6-Month Certificates of Deposit:

• Superior Savings - 5.60% (min $500)
• Merrill Lynch Bank - 5.50% (min $25K), my post
• FirstFedDirect - 5.46% (min $10K), my post
• NetBank - 5.45% (min $1K)
• IndyMac Bank - 5.45% (min $5K), my post
• VirtualBank - 5.44% (min $10K), my post
• AmTrustDirect - 5.36% (min $1K) my post
• Imperial Capital - 5.35%, ($2K min), my post
• World Savings - 5.35% (7 months) (min $10K), branch-only, my post
• Corus Bank - 5.35% (min $10K)
• Tennessee Commerce Bank - 5.35% (min $5K)
• UFB Direct - 5.30% (min $8K)
• Countrywide - 5.30% (min $10K), my post
• iGobanking - 5.30% (min $500), my post
• Self-Help Credit Union - 5.27% (min $500), my post
• E-LOAN - 5.25% ($10K min), my post
• ETrade Bank - 5.25% (min $1K), my post
• HSBC Direct - 5.25% (min $1K), new money only
• GMAC Bank - 5.20% (min $500), my post
• EmigrantDirect - 5.20% (min $1K)
• ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
• EverBank - 5.15% ($1.5K min)
• Washington Mutual - 5.10% (min $1K), rates vary by state
• UmbrellaBank.com - 5.10% (min $1K)
• ING Direct - 5.00%, my post
• Wells Fargo - 4.80% (5 months) (min $5K), rate and min vary by state, my post

9-Month Certificates of Deposit:

• World Savings - 5.45% (10 months) (min $10K), my post
• AmTrustDirect - 5.41% (min $1K) my post
• Countrywide - 5.40% (min $10K), my post
• Imperial Capital - 5.35% ($2K min), my post
• FirstFedDirect - 5.35% (min $10K), my post
• GMAC Bank - 5.25% (min $500), my post
• NASA FCU - 5.25% (8 months) (min $5K), my post
• EmigrantDirect - 5.20% (min $1K)
• IndyMac Bank - 5.20% (min $5K), my post
• VirtualBank - 5.18% (min $10K), my post
• UmbrellaBank.com - 5.15% (min $1K)
• EverBank - 5.15% ($1.5K min)
• ING Direct - 5.05%, my post

12-Month Certificates of Deposit:

• Huron River Area Credit Union - 6.00% ($5K min), my post
• Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
• NetBank - 5.50% (min $1K), my post ($100 bonus)
• AmTrustDirect - 5.46% (min $1K) my post
• FirstFedDirect - 5.40%, (min $10K) my post
• ETrade Bank - 5.40% (min $1K), my post
• Tennessee Commerce Bank - 5.40% (min $5K)
• Mutual Bank - 5.35% (min $2.5K) my post
• AmboyDirect - 5.35% (min $10K), my post
• IndyMac Bank - 5.35% (min $5K), my post
• Imperial Capital - 5.35% ($2K min), my post
• UFB Direct - 5.35% (min $8K)
• GMAC Bank - 5.30% (min $500), my post
• La Jolla Bank - 5.30% (min $10K), my post
• Melrose CU - 5.30% (min $5K) my post
• iGobanking - 5.30% (min $500), my post
• Corus Bank - 5.30% (min $10K)
• EverBank - 5.30% ($1.5K min)
• Navy FCU - 5.30% ($20K min) restrictions to membership, my post
• Transportation Alliance Bank - 5.27% ($1K min)
• Self-Help Credit Union - 5.27% (min $500), my post
• E-LOAN - 5.25% ($10K min), my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• UmbrellaBank.com - 5.20% (min $1K)
• Countrywide - 5.20% (min $10K)
• EmigrantDirect - 5.20% (min $1K)
• VirtualBank - 5.15% (min $10K), my post
• Washington Mutual - 5.10% (min $1K), rates vary by state
• ING Direct - 5.10%, my post
• GTE FCU - 4.96% (min $500) (add-on feature) my post

14/15-Month Certificates of Deposit:

• Navy FCU - 6.00% (15 months) ($8K min) restrictions to membership, my post
• Patelco Credit Union - 5.75% (14 months) ($1K min), not NCUA insured, my post
• NASA FCU - 5.35% (14 months) (min $1K), my post

18-Month Certificates of Deposit:

• Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
• NetBank - 5.45% (min $1K), my post ($100 bonus)
• E-LOAN - 5.38% ($10K min), my post
• iGobanking - 5.30% (min $500), my post
• Countrywide - 5.20% (min $10K)
• EmigrantDirect - 5.20% (min $1K)
• Imperial Capital - 5.20% ($2K min), my post
• GMAC Bank - 5.20% (min $500)
• AmTrustDirect - 5.15% (min $1K) my post
• ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
• ETrade Bank - 5.00% (min $1K), my post
• Mutual Bank - 4.85% (min $5K) my post
• UmbrellaBank.com - 4.75% (min $1K)

36-Month Certificate of Deposit:

• Pentagon Federal CU - 5.50% (min $1K), my post
• Mutual Bank - 5.47% (min $5K) my post
• Navy FCU - 5.45% ($20K min) restrictions to membership, my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• First State Bank - 5.35% ($1K min), my post
• Agriculture FCU - 5.25% (min $1K), my post
• Fort Belvoir FCU - 5.23% (min $1K), my post
• E-LOAN - 5.20% ($10K min), my post
• Melrose CU - 5.20% (min $5K) my post
• EmigrantDirect - 5.20% (min $1K)
• Transportation Alliance Bank - 5.15% ($1K min)
• ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
• Imperial Capital - 5.10% ($2K min), my post
• GMAC Bank - 5.05% (min $500)
• Countrywide - 5.00% (min $10K)
• ETrade Bank - 5.00% (min $1K), my post
• AmTrustDirect - 5.00% (min $1K) my post
• Self-Help Credit Union - 4.99% (min $500), my post
• UmbrellaBank.com - 4.75% (min $1K)

48-Month Certificate of Deposit:

• Navy FCU - 5.50% ($20K min) restrictions to membership, my post
• Pentagon Federal CU - 5.50% (min $1K), my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• First State Bank - 5.35% ($1K min), my post
• Fort Belvoir FCU - 5.34% (min $1K), my post
• USA FCU - 5.33% (min $1K) my post
• Melrose CU - 5.25% (min $5K) my post
• Agriculture FCU - 5.25% (min $1K), my post
• E-LOAN - 5.20% ($10K min), my post
• EmigrantDirect - 5.20% (min $1K)
• Transportation Alliance Bank - 5.15% ($1K min)
• ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
• GMAC Bank - 5.05% (min $500)
• Countrywide - 5.00% (min $10K)
• Self-Help Credit Union - 4.97% (min $500), my post
• UmbrellaBank.com - 4.75% (min $1K)

60-Month Certificate of Deposit:

• Pentagon Federal CU - 5.75% (min $1K), my post
• Navy FCU - 5.70% ($20K min) restrictions to membership, my post
• Fort Belvoir FCU - 5.50% (min $1K), my post
• Agriculture FCU - 5.50% (min $1K), my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• USA FCU - 5.38% (min $1K) my post
• Presidential Bank - 5.35% (min $1K)
• First State Bank - 5.35% ($1K min), my post
• E-LOAN - 5.30% ($10K min), my post
• Melrose CU - 5.30% (min $5K) my post
• EmigrantDirect - 5.20% (min $1K)
• VirtualBank - 5.15% (min $10K), my post
• Transportation Alliance Bank - 5.15% ($1K min)
• Members Credit Union - 5.13% (min $2K), my post
• Washington Mutual - 5.10% (min $1K), rates vary by state
• AmTrustDirect - 5.10% (min $1K) my post
• Imperial Capital - 5.10% ($2K min), my post
• GMAC Bank - 5.10% (min $500)
• ETrade Bank - 5.05% (min $1K), my post
• Countrywide - 5.00% (min $10K)
• ebank - 5.00% (min $1K), 5.35% for ePremium checking customers
• Self-Help Credit Union - 4.98% (min $500), my post
• UmbrellaBank.com - 4.75% (min $1K)

84-Month Certificate of Deposit:

• Navy FCU - 6.25% ($20K min) restrictions to membership, my post
• Pentagon Federal CU - 6.00% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• Countrywide - 5.00% (min $10K)

High Rates with Conditions / Large Balances - Open to All

• 10% Affinity Savings Account for kids ($500 max)
• 6.01% Everbank 3-month intro rate on checking account
• 6.00% HSBC Savings Account New Money Promo
• 6.00% Money Market Account at Lockheed FCU ($10K Max)
• 6.00% Dime 3-month intro rate on Money Market account
• 5.60% Money Market Account with $250K initial deposit
• 5.40% Personal and Business Money Market Account with $100K balance
• 5.36% Money Market Account at Bank of America with $50K+

Checking and Saving Accounts at Local Banks/Credit Unions

• $250 Checking Account Bonus at South Carolina Federal
• $7.50% Checking/Savings Account up to $500 (Washington State)
• 6.10% Reward Checking Account at a Nevada CU (Clearstar Financial)
• 6.01% Checking Account up to $25K (Little Rock)
• 6.01% Checking Account up to $25k (Arkansas)
• 6.00% Money Market Account Intro Rate in New Jersey
• 5.61% Checking Account up to $25K (AL/TN/MS)
• 5.35% No-Minimum Online Savings Account (New York)
• 5.25% Money Market Account for 3 months (New York)
• 5.25% Checking Account (Florida)
• 5.05% Low-Minimum Online Savings Account (California)
• 5.01% Checking Account (Wisconsin/Illinois)
• 5.00% Money Market Account (Utah)
• 5.00% Checking Account at an Oklahoma Bank (Legacy)
• 4.75% Checking Account (Texas)

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

Terms of 60 Months and Over

• 6.25% 120-Month CD at a New York Bank (Ridgewood Savings)
• 6.18% 60-Month CD at a Florida/Georgia Bank (Southeastern)
• 6.06% 60-Month CD at a Tennessee CU (MPD Community)
• 6.00% 80-Month CD at a Ohio CU (Sharefax)
• 6.00% 60-Month CD at a Ohio CU (AP FCU)
• 5.90% 72-Month CD at a Missouri Bank (Garden City)
• 5.83% 60-Month CD at a Florida Bank (Surety)
• 5.81% 60-Month CD at a Utah CU (Deseret First)
• 5.75% 60-Month CD at a Georgia Bank (Peachtree)
• 5.75% 60-Month CD at a NY/PA Bank (Community Bank, N.A.)
• 5.70% 84-Month CD at a Missouri CU (Neighbors)
• 5.65% 60-Month CD at a Washington Bank (Westsound)
• 5.65% 60-Month CD at a Georgia Bank (Alpha)
• 5.50% 60-Month CD at a Washington DC Bank (Adams National)

Terms of 24 Months to Under 60 Months

• 6.98% 36-Month CD at a California Bank - Variable IRA (Alliance Bank)
• 6.15% 24-Month CD at a Florida CU (South Florida)
• 6.00% 24-Month CD at a New York CU - $50K Min (Palisades)
• 5.97% 24-Month CD at a California CU (Los Angeles)
• 5.92% 48-Month CD at a Florida/Georgia Bank (Southeastern)
• 5.80% 24-Month CD at a Massachusetts CU (Central One FCU)
• 5.80% 41-Month CD at a New Jersey CU (Tri-Co)
• 5.80% 24-Month CD at a Georgia CU (MACO Educators)
• 5.75% 24-Month CD at a Virginia CU (Bronco)
• 5.75% 24-Month CD at a Texas CU (United SA)
• 5.75% 24-Month CD at a New York CU (Buffalo Metropolitan)
• 5.75% 50-Month CD at a Ohio CU (AP FCU)
• 5.65% 24-Month CD at a Maryland/Virginia/DC CU (Washington Telephone)
• 5.64% 24-Month CD at a Ohio CU (Sharefax)
• 5.64% 35-Month CD at a Virginia CU (Baylands)
• 5.55% 27-Month CD at a New Jersey CU (Tri-Co)
• 5.50% 36-Month CD at a St. Louis CU (Gateway Metro)

Terms of 12 Months to Under 24 Months

• 10.00% 12-Month CD at a New York CU - $2K Max (Palisades)
• 6.35% 15-Month CD at a California CU (Alisos)
• 6.30% 14-Month CD at a Virginia CU - IRA (Apple)
• 6.05% 13-Month CD at a Florida CU (South Florida)
• 6.00% 12-Month CD at a Michigan CU (Huron River Area)
• 6.00% 18-Month CD at a Minnesota Bank - IRA (Park State)
• 6.00% 12-Month CD at a North Carolina CU (Carolina Postal)
• 6.00% 13-Month CD at a Illinois CU - IRA (Great Lakes)
• 6.00% 15-Month CD at a Connecticut CU - IRA (Achieve Financial)
• 6.00% 15-Month CD at a South Carolina CU Continues (MCAS Beaufort)
• 5.96% 12-Month CD at a Georgia CU (MACO Educators)
• 5.90% 12-Month CD at a Utah CU - and Other High Rates (Pacific Rails)
• 5.86% 12-Month CD at a Washington State CU - Variable (Cascade Forest Products)
• 5.81% 12-Month CD at a Ohio CU - $100K+ (CSE)
• 5.80% 12-Month CD at a Massachusetts CU (Central One FCU)
• 5.80% 15-Month CD at a Oregon/South Carolina CU (Consolidated)
• 5.75% 12-Month CD at a Georgia Bank (Alpha)
• 5.75% 14-Month CD at a Alabama CU (Tuscaloosa)
• 5.75% 18-Month CD at a Missouri CU (Postal and Community)
• 5.75% 12-Month CD at a Georgia Bank (Integrity)
• 5.75% 12-Month CD at a Virginia CU (Bronco)
• 5.75% 12-Month CD at a Houston CU Continues - (Right Choice)
• 5.75% 12-Month CD at a California/Nevada CU (1st United Services)
• 5.75% 16-Month CD at a Virginia CU - (Apple)
• 5.74% 18-Month CD at a Missouri Bank (Eagle)
• 5.72% 12-Month CD at a Wisconsin CU - and a $50 Checking Bonus (Royal)
• 5.70% 18-Month CD at a Utah CU (Cyprus)
• 5.70% 15-Month CD at a Missouri CU (Kilowatt)
• 5.70% 12-Month CD at a Minnesota CU (SMW)
• 5.65% 12-Month CD at a Georgia Bank (Peachtree)
• 5.65% 13-Month CD at a Washington State CU (WSE)
• 5.61% 18-Month CD at a DC/MA CU (Transportation)
• 5.61% 12-Month CD at a DC/MA CU (Transportation)
• 5.60% 12-Month CD at a Utah CU (Deseret First)
• 5.60% 12-Month CD at a Florida Bank (Coral Gables)
• 5.60% 15-Month CD at a Multi-State Credit Union (FAA Eastern Region)
• 5.56% 13-Month CD at a South Carolina Bank (Bank of Anderson)
• 5.55% 13-Month CD at a Utah Credit Union (Tooele)
• 5.55% 15-Month CD at a California CU - Open To All (Kinecta)
• 5.55% 12-Month CD at a Maryland/Virginia/DC CU (Washington Telephone)
• 5.55% 12-Month CD at a Texas Bank (Park Cities)
• 5.51% 13-Month CD at a South Dakota CU (Sentinel)
• 5.51% 16-Month CD at a Maryland CU (MCT)
• 5.50% 12-Month CD at a Texas Bank (Century)
• 5.50% 12-Month CD at a Massachusetts Bank (Needham Cooperative)
• 5.50% 16-Month CD at a New York CU (Bethpage)
• 5.50% 15-Month CD at a Missouri CU (Neighbors)
• 5.50% 12-Month CD at a Maryland/Virginia/DC Bank (Washington First)
• 5.50% 12-Month CD at a New York CU (Buffalo Metropolitan)
• 5.50% 12-Month CD at a Texas Bank and $50 Checking Account Bonus (Century)
• 5.50% 13-Month CD at a Alabama CU (Redstone)
• 5.50% 12-Month CD at a Texas CU (San Antonio)
• 5.50% 18-Month CD at a Washington Bank (Westsound)
• 5.50% 12-Month CD at a Kansas Bank (Capitol Federal Savings)
• 5.40% 12-Month CD at a Texas CU (United SA)
• 5.39% 15-Month CD at a Philadelphia Bank (Asian Bank)

Terms of Under 12 Months

• 8.16% 5-Month CD at a Wisconsin CU - $4K Max (Northwoods Community)
• 7.00% 6-Month CD at a CA Credit Union - $5K Max (Pacific Service)
• 7.00% 7-Month CD at a California CU - $7K Max (Wescom)
• 6.00% 10-Month CD at a Michigan CU (Lake Michigan)
• 6.00% 3-Month CD at a Virginia CU (Arlington Virginia)
• 6.00% 7-Month CD at a Colorado CU (US Alliance)
• 5.92% 11-Month CD at a New York / Pennsylvania CU (Visions)
• 5.92% 6-Month CD at a New York / Pennsylvania CU (Visions)
• 5.80% 7-Month CD at a Oregon/South Carolina CU (Consolidated)
• 5.80% 10-Month CD at a Colorado Bank (Summit Bank and Trust)
• 5.75% 6-Month CD at a Georgia Bank (Integrity)
• 5.75% 3-Month CD at a California CU (San Jose)
• 5.75% 6-Month CD at a California CU (San Jose)
• 5.75% 9-Month CD at a Maryland CU (Prince George's Community)
• 5.70% 7-Month CD at a Iowa Bank (American Bank)
• 5.65% 9-Month CD at a Arizona CU (Arizona Federal)
• 5.65% 11-Month CD at a Missouri CU (River Region)
• 5.65% 7-Month CD at a Dallas Bank (Jefferson)
• 5.65% 6-Month CD at a Georgia Bank (Columbus Community)
• 5.62% 11-Month CD at a Alabama Bank (The Peoples)
• 5.60% 11-Month CD at a Maryland CU (Point Breeze)
• 5.60% 6-Month CD at a Texas CU (San Antonio)
• 5.58% 4-Month CD at a Arizona CU (Vantage West)
• 5.58% 3-Month CD at a Arizona CU (Vantage West)
• 5.57% 11-Month CD at a Maryland CU (MCT)
• 5.55% 8-Month CD at a California CU - IRA (San Diego County)
• 5.55% 11-Month CD at a California CU (LA Financial)
• 5.55% 5-Month CD at a Illinois CU - IRA (Great Lakes)
• 5.50% 11-Month CD at a Florida Bank (Platinum)
• 5.50% 6-Month CD at a California/Nevada CU (1st United Services)
• 5.50% 9-Month CD at a Florida CU (Achieva)
• 5.50% 6-Month CD at a Washington DC Bank (Adams National)
• 5.50% 6-Month CD at a Missouri CU - and Gift Card (American Eagle)
• 5.50% 6-Month CD at a California Bank (Luther Burbank Savings)
• 5.40% 9-Month CD at a Chicago Bank (Builders)
• 5.35% 11-Month CD at a Chicago Bank (Park National)
• 5.35% 8-Month CD at a New York CU (Bethpage)

Bank Account Alternatives

• Money Magazine article on risk-free investments
• Vanguard Prime Money Market Fund - 5.10% 7-day yield
• Fidelity Money Market Fund - 4.95% 7-day yield ($100 bonus and other info)
• Paypal Money Market Fund - 5.02% 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

5.47% 24-Month / 36-Month CDs at Mutual Bank read and submit comments for this post

Mutual Bank has again some very competitive rates on its certificates of deposits. The highest rate is a 5.47% APY CD with terms of 24 months and 36 months. The minimum deposit is $5,000. The 1-year CD is also competitive at 5.35% APY with a $2.5K minimum.

Seems like every few months Mutual Bank comes out with competitive CD rates on a few terms from 12 to 60 months. Last July Mutual Bank came out with CDs as high as 5.80%. The short-term CD rates have never been competitive.

Mutual Bank also has a competitive money market account with a yield of 5.10% APY with a $5,000 minimum balance requirement. The yield has remained at 5.10% since last summer. This Premium Unique Money Market account has limited check writing (first 40 checks free) and an ATM card. The main downside is a $25/month fee for balances under $5,000.

It appears Mutual Bank is starting to expand. Branches had only been in the Chicago area. From their banking centers page, branches are planned for Houston, New York and New Jersey. For those who don't mind banking by mail, you can open accounts from any state via their account opening page.

Mutual Bank has been FDIC insured since 1962. It has a 3 out of 5 safe-and-sound star rating (performing)at Bankrate.com which is down from 4 stars in July.

5.55% 12-Month CD at a Texas Bank (Park Cities) read and submit comments for this post

Park Cities Bank is advertising a 5.55% APY 12-month certificate of deposit. The special is not listed at the bank's website. It was advertised in Wednesday's Dallas Morning News. The ad is available online here.

The bank has four branches in Dallas and Fort Worth. Note, the ad specifically mentions the Lovers Lane branch. The bank has been FDIC insured since 2000.

5.75% 60-Month CD at a NY/PA Bank (Community Bank, N.A.). read and submit comments for this post

Community Bank, N.A. is listing a 5.75% APY 60-month certificate of deposit. The minimum deposit is $1,000. Also listed is a 5.40% APY 18-month CD. These are available as a regular or IRA CD.

Branches are located in New York and Pennsylvania. According to the customer service rep, they don't accept out-of-state deposits.

Community Bank has been FDIC insured since 1934.

[Update 3/17/07: 60-month CD rate now down to 5.40% APY.]

Bank of America Checking Account Bonuses read and submit comments for this post

Last year there were several Bank of America checking and savings account bonuses. There doesn't seem to be as many this year, but a few have been found. The best online one is a $75 bonus for opening a new checking account. Here's the promotional page. To receive your $75, apply online or go to your branch. Use offer code AOU26, and open a personal checking account before May 31, 2007. Some important small print of this offer includes: Offer does not apply to second or multiple checking accounts and/or existing checking customers. This minimum deposit required to open a new, personal checking account and receive the $75 offer is $100.

If the above bonus expires, you'll have more time for this $50 checking account bonus. Here's the promotional page. Looks like this one must be done all online. The promo code for this is GROUP50. This offer doesn't expire until 12/31/07. According to the small print: Limit one $50 incentive per household every 60 days. Offer valid only for new checking accounts.

For a discussion about Bank of America checking accounts, fees and other issues, please refer to my Bank of America bonus summary post.

Thanks to Christopher who mentioned this new $50 bonus and iBankDesign for the bonus links.

[Update 3/25/07: $75 bonus expiration date extended to May 31, 2007.]

New 5.25% No-Minimum Online Savings Account - FNBO Direct read and submit comments for this post

Update 11/16/09: The current yield is 1.40% APY. Refer to this post for the rate history.

First National Bank of Omaha has started a new online savings account at FNBO Direct with a rate of 5.25% APY. It's another no-minimum online savings account. According the service rep, FNBO Direct was launched about a month ago and has maintained a 5.25% APY.

Here are some features of this savings account based on the website and my conversation with the customer service rep. Account and bank information is available at FAQs, account disclosure and terms & conditions.

• $1 minimum deposit with no monthly fees
• No minimum balance to earn full interest
• Entire application can be done online with nothing to mail in (CSR)
• Trial deposit method is done to verify linked account (CSR)
• Link to either a checking or savings account (CSR)
• Allows 3 external account links (FAQ)
• No hard credit inquiry (just a soft pull which doesn't affect credit score) (CSR)
• Typical limit of 6 withdrawals per month (FAQ)
• No small transfer limits on the amount that can be withdrawn or deposited (withdrawal limits are $100K/day and $250K/month, deposit limits are $250K/day and $1M/month) (T&C)
• Deposits start accruing interest when transfer is complete (FAQ)
• Interest is calculated daily and is compounded and credited monthly. (FAQ)
• No interest is forfeited if the account is close
• No sign-up bonus (CSR)
• $2.50 ATM charge for using other banks' ATM (Disclosure)

I was able to quickly reach customer service with their toll-free number. According to the contact page, customer service is available 24/7. The rep was fairly knowledgeable, but there were a few discrepancies between his answers and the website. One was in the allowed number of withdrawals. He said 3 a month were allowed. The website specifies that 6 are allowed. Typically, savings accounts only allow 3 by check, so I asked if this were the case. He said it's 3 total and that check withdrawals don't apply since it doesn't offer checks.

The 5.25% APY is competitive, but it's not something to get excited about when there are several online banks offering 5.30% and above. Plus, we can't say how long it'll remain competitive. It seems prudent to wait and see if the high rate can last. Perhaps, they'll realize that with so much competition, a high rate isn't good enough. They need to do what E-LOAN did and offer a rate substantially higher than anyone else or offer some kind of sign-up bonus.

First National Bank of Omaha is FDIC insured. I couldn't find any proof of the link between First National Bank and FNBODirect.com. The FDIC page only lists the URL firstnational.com. I did call the contact number at First National and they did verify that FNBODirect.com is part of First National Bank of Omaha. I didn't see any signs that this wouldn't be the case, but I just wanted confirmation. First National seems like a healthy bank. It has a 4 out of 5 safe-and-sound rating (sound) at Bankrate.com.

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

Links to new FNBO Direct posts:

• My Overview of the 6% promotion
• My Experience Opening FNBO Direct's 6% Savings Account - Part 1
• My Experience Opening FNBO Direct's 6% Savings Account - Part 2
• My Experience Opening FNBO Direct's 6% Savings Account - Part 3
• Transfer Speeds and Timing Deposits into FNBO Direct's 6% Savings Account
• Confirming the legitimacy of FNBO Direct

[Edited 5/13/07: added new post links. Edited 5/2/07: added new post links. Edited 5/1/07: Updated the number of external ACH links from 1 to 3. Added 6% promo note.]

AmTrustDirect Raises e-Money Market Account to 5.36% read and submit comments for this post

AmTrustDirect just raised the rate on its e-Money Market account to 5.36% APY (from 5.30%). The APY applies to balances of $1 and higher. There are no minimum balance requirements, however, there is a minimum initial deposit requirement of $1,000.

Unlike many other online banks, AmTrustDirect has had consistently high rates since it began in August of 2006. The yield was at 5.30% since September. Those who are getting tired of rate chasing, this might be an online savings account to seriously consider.

For more information on AmTrustDirect, please refer to this August post. Also, many readers have provided their experiences with this e-Money Market account in this post.

6.18% 60-Month / 5.92% 48-Month CD at a Florida/Georgia Bank (Southeastern) read and submit comments for this post

Southeastern Bank is offering a 6.18% APY 60-month certificate of deposit. Also available is a 5.92% APY 48-month CD. The minimum deposit is $500, and the CDs are also available in an IRA.

The rates are not listed at the bank's website. A reader emailed me these CD rates, and I called the Yulee, Florida branch to verify. According to the service rep, it's only available to those in the local area. A branch visit is required. Yulee is located about 15 miles north of Jacksonville. Southeastern also has several branches in southeast Georgia. I called the Richmond Hill, Georgia branch and was told that rates are set differently for each local market. The Richmod Hill branch didn't have the 6% rate, but it still had some competitive long-term rates which include a 5.92% APY 60-month CD and a 5.65% APY 48-month CD. The early withdrawal penalty is equal to 3 months of interest.

Branches are located in several cities of southeast Georgia and in three cities north of Jacksonville, Florida. The bank has been FDIC insured since 1934.

Credit for this find goes to the reader who emailed me this info. Thanks!

5.65% 24-Month / 5.55% 12-Month CD at a Maryland/Virginia/DC CU (Washington Telephone) read and submit comments for this post

Washington Telephone FCU is offering special preimum rates for 12 and 24 month certificates. The 12-month certificate has a yield of 5.55% APY and the 24-month certificate has a yield of 5.65% APY. There's a $2,500 minimum deposit for the 12-month term, and $5,000 minimum for the 24-month term. It requires new money (The new deposit must increase your total combined balance at WTFCU as compared to your total combined balance as of June 14, 2006).

Field of membership includes those who live, work, worship or attend school in Washington DC or inside the Beltway in Prince George's County, Maryland. You can also be eligible via family and select employer groups. See site for details. Membership requires a $5 deposit into the main savings account.

Branches are located in Maryland, Virginia and Washington DC. The credit union is federally insured by the NCUA. It has $247.9 million in assets and 34,103 members.

5.51% 13-Month CD in a Kentucky Bank (First Federal Savings) read and submit comments for this post

First Federal Savings Bank is offering a special 5.51% APY 13-month certificate of deposit. The required minimum is $500. The offer is valid through February 20, 2007. There was also a Valentine special of a free box of candy, but that was only available on the 14th.

Branches are located in the Kentucky cities of Louisville, Vine Grove, Brandenburg, Mt. Washington, Shepherdsville, Munfordville, Bardstown, Radcliff and Elizabethtown. The bank has been FDIC insured since 1936.

Wells Fargo's Free Online Trades read and submit comments for this post

Wells Fargo has announced that through its brokerage unit, it'll offer 100 commission-free trades per year of stocks, no-load mutual funds and ETFs. The free trades require customers have a combined $25K in deposits or loans. Also, 10% of outstanding mortgage balances can be used to qualify. Eligible deposits can include CDs, IRAs and brokerage accounts. Wells Fargo use to have some decent short-term special CDs, but the rates have gone down over the last few months. The best one now is a 4.80% APY 5-month CD (see rate page).

Wells Fargo is hoping that sacrificing some brokerage revenue will attract more low-cost deposits and create more borrowing. This Forbes article reviews this move and how it might impact the online brokers. According to the article, Bank of America's free trade offer (see post) that started last fall hasn't had much impact. Estimates of new brokerage accounts at Bank of America in the fourth quarter is 9,000 compared to 69,000 at Ameritrade. Wells Fargo's offer may be more successful since BoA's program is only good for stocks and not mutual funds. Also, Wells Fargo's has more ways to qualify, for example, customers with mortgages of at least $250K will qualify.

According to the article, Wells Fargo is the nation's fifth largest bank, and it earned $8.5 billion last year.

5.65% 13-Month CD at a Washington State CU (WSE) read and submit comments for this post

Washington State Employees Credit Union is offering a special 5.65% APY 13-month certificate. The minimum deposit is $1,000.

Field of membership includes employees of city, county, state, higher education or public schools. Also, relatives of a current or potential members are eligible. See site for details. Membership requires a $5 deposit in a savings account.

Branches are located in several Washington cities including Seattle, Olympia and Spokane. The credit union is federally insured by the NCUA. It has $1.1 billion in assets and 143,192 members.

Credit goes to the reader who mentioned this CD special in the finding deals post. Thanks!

5.50% 6-Month CD at a California Bank (Luther Burbank Savings) read and submit comments for this post

Luther Burbank Savings Bank is offering a special 5.50% APY 6-month certificate of deposit. The minimum balance is $10,000, and the offer applies to new money only. This special was advertised in yesterday's San Francisco Chronicle.

Branches are located in the California cities of Santa Rosa, San Rafael and Palo Alto. The bank has been FDIC insured since 1983.

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

5.50% 12-Month CD at a Kansas Bank (Capitol Federal Savings) read and submit comments for this post

Capitol Federal Savings is having a President's Day CD special with a yield of 5.50% APY and a 12-month term. It's only available by visiting a branch on February 19th. The minimum deposit is $1,000. The special is not listed at the bank's website. It was advertised in the Wichita Eagle newspaper. The ad is available online here.

Branches are located throughout Kansas including the cities of Lawrence, Wichita, Topeka and Kansas City. The bank is FDIC insured.

6.00% 15-Month CD at a South Carolina CU Continues (MCAS Beaufort) read and submit comments for this post

MCAS Beaufort FCU continues to advertise a 6.00% APY 15-month share certificate. The minimum deposit is $10,000. I had first reported on this special last October. In addition to this special CD, the credit union also offers regular CDs with yields of 5.75% APY and IRA CDs with yields of 5.88% APY for terms of 12 to 36 months.

Field of membership includes all those who live or work in Beaufort County. A reader had mentioned that there are many who can qualify for membership due to their work at one of the 3 large military bases in this county or who work at Hilton Head Island which is also in the county. There's a one-time $5 membership fee and a $5 minimum deposit requirement into the share savings account.

Branches are in Beaufort and Port Royal, South Carolina which are located between Charleston and Savannah. The credit union is NCUA insured. It has $61.8 million in assets and 19,314 members.

Credit goes to the reader who mentioned this continued special in the finding deals post. Thanks!

How Banks are Being Squeezed by Interest Rates read and submit comments for this post

With short-term rates being higher than many long-term rates, profits at banks are being squeezed. This Washington Post article has an overview of this issue. According to the article, it's affecting the smaller banks more since they tend to have less diversified sources of income. Some banks have been loosening up their credit standards to compete. This may increase the trend that banks are already seeing in which borrowers are failing to make payments. You have to wonder if we'll see more bank failures in the near future. Just remember to stay within the FDIC limits for your deposits. Please refer to my Facts about FDIC and NCUA post for more info.

Thanks to the reader who emailed me this article.

Netbank Raises CD Rates Again - 5.50% 1 Year, 5.45% 6-Month read and submit comments for this post

Update 9/28/07: NetBank closed by the FDIC. See post for more details.

Netbank raised CD rates again this week on its 12-month and 6-month terms. The yield of the 12-month CD is now 5.50% APY (up from 5.45%). The yield of the 6-month CD is now 5.45% APY (up from 5.40%). The rates on all other terms remain the same. Netbank's last rate increase was two weeks ago on January 30th.

Please refer to my previous post for more info on opening accounts at Netbank and their current $250 new account bonuses. With a $15K deposit on your first Netbank 1-year CD, you could receive a $100 bonus on top of the 5.50% APY. There are some downsides with Netbank. Refer to my previous post for a discussion on this.

Credit for this update goes to shrazzy who mentioned these new rates in the comments.

6.00% 60-Month / 5.75% 50-Month CD at an Ohio CU (AP FCU) read and submit comments for this post

AP Federal Credit Union has some nice long term rates on its certificate of deposit specials. The highest rate is a 6.00% APY 60-month CD with a $25K minimum deposit. Also available is a 5.75% APY 50-month CD with a $2K minimum. The other shorter term special CDs are not so competitive with yields ranging from 5.25% to 4.65%. I first posted on this 50-month CD special last November.

Field of membership includes anyone who lives, works, worships, volunteers or attends school in Lucas County, Ohio. You also can be eligible via select employer groups and immediate family. See site for details. Branches are located in Toledo.

The credit union is federally insured by the NCUA. It has $37.0 million in assets and 5,825 members.

5.80% 10-Month CD at a Colorado Bank (Summit Bank and Trust) read and submit comments for this post

Summit Bank and Trust is offering a special 5.80% APY 10-month certificate of deposit. The minimum deposit is $1,000 and the maximum is $35,000. It requires that you open a checking account with direct depsoit. There's also a 5.75% APY listed that may not require direct deposit. Only one CD per household is allowed.

The main office is located in Broomfield, Colorado which is in the northern suburbs of Denver. The bank was just established in November of 2006. It's FDIC insured.

$50 Checking Account Bonus at Citizens Bank read and submit comments for this post

Citizens Bank is offering up to $50 in gift card rewards for signing up for its online bill pay and automatic transfers with your checking and savings accounts. Here is the promotion page.

To qualify you must open or have a personal checking account and be enrolled in Everyday Points by March 4, 2007. You'll earn 10,000 Everyday Points, valued at $25, if you enroll in online banking and pay at least 3 bills by April 30, 2007. You'll earn another 10,000 Everyday Points if you establish a monthly Steady Save transaction, with which you must transfer a minimum $10 at least once a month from this account to any of your Citizens Bank savings or money market accounts by April 30, 2007. Existing customers who do not currently use Steady Save or Online Bill Pay may also qualify. You can open the account by calling 1-877-360-CIRCLE or visiting a local branch.

Here is the Citizens Bank Checking Account Summary page. The account with the least fees and requirements is the Green Checking which only requires a minimum deposit of $25. There's a $5.95/mo fee, but this can be waived with Online Bill Pay, automatic transfers or direct deposit. From the Savings Account comparison page the best savings account for this promotion seems to be the Green Savings Select. It has no minimum balance and is free with checking. It only pays 0.75% interest, but the Circle Money Market account isn't much better at 1% for up to $10K. These are not the accounts to open to earn decent interest.

Citizen Bank is based in the Northeast with branches in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont. It is FDIC insured.

Update on the 6% Money Market Account at Lockheed FCU read and submit comments for this post

Lockheed FCU continues to advertise its Rise and Shine Money Market Account. I first reported on this in early January. A reader had noted this money market account still being advertised in the LA Daily News. Since this account is still not listed at their website, I decided to contact the credit union to see if there has been any changes. The service rep now says that this account can be opened by mail, phone or online. Previously I was told that they intended for it to be opened at a branch. Also new is that the 6% rate is now guaranteed to last until May 1st. Previously it was only guaranteed through January. Below is a summary of this Rise and Shine Money Market Account features:

• 6% APY from $2,500 to $10,000 balance (can't go above $10K)
• Rate guaranteed through May 1, 2007
• Limit of one account per household
• $15/month fee if balance drops below $2,500
• Has check writing privileges
• Can be opened at a branch, by phone, by mail or online.

LFCU's field of membership includes members of the Achievers Club which anyone can join. According to the website, you can select "Achievers Club" from the Membership Eligibility menu. There is a one-time membership fee of $5 to join the Club. Please see the site for the full FOM details.

Membership requires a $5 deposit into the main savings account. Note, there's a $500 minimum balance requirement to avoid a $5/month fee. However, this is a combined balance requirement. So a $2,500+ balance in the money market account will allow this fee to be waived (according to the service rep). Another note about membership is that there is a hard credit inquiry when you join. For more info on fees, please refer to the credit union's schedule of service charges and fees (pdf)

Branches are located in California, Maryland, Virginia and New Hampshire.

The credit union is federally insured by the NCUA. It's a large credit union with $2.4 billion in assets and 100,919 members.

Credit for this update goes to Carol who mentioned this Lockheed ad in the finding deals post. Thanks!

5.50% 18-Month / 5.65% 60-Month CD at a Washington Bank (Westsound) read and submit comments for this post

Update 5/08/09: The bank has been closed by regulators. Please refer to this post for more details.

Westsound Bank is offering several high yield long-term certificates of deposit. These include a 5.50% APY for terms of 18 and 24 months, and a 5.65% APY for a 60-month term. The minimum to open is $500.

I contacted the service rep and was told that you have to visit a branch to open a CD. Also, I was told the early withdrawal penalty is 3 months of interest for these long-term CDs. There are branches in several Washington State cities.

The bank has been FDIC insured since 1999.

$75 Checking Account Bonus at Chase Bank read and submit comments for this post

Various Chase checking account bonuses seem pretty common. I've seen Chase offering $50 to $100 for these. The $100 ones seem to be one-time-use offers that are sent as fliers to individuals. I had reported on a $100 one last November, but that one has expired.

Here's a new $75 promotion. This one expires on 4/15/07. It requires you to open a checking account with direct deposit. The minimum opening deposit is $100. You have to print this promotional page and take it to your local Chase branch. The cash bonus will be automatically deposited into your new account with 10 business days of account opening. There's a limit of one personal checking account-related award per customer per calendar year. The bonus will be considered as interest and will be reported on IRS form 1099-INT

The Chase Free Checking requires direct deposit to avoid a $6/month fee. You must keep the checking account opened for 6 months to avoid having the bonus debited from the account at closing.

There's also a $50 bonus for setting up an automatic savings program. It requires a $5K deposit of new money and setting up 3 consecutive automatic monthly transfers of $100 or more from your Chase checking account to your Chase savings account. This offer expires on 2/28/07. The small print states it's not available in combination with other offers. However, if you do the checking bonus first, followed by this one, perhaps there's a chance of getting both. One thing to note is that all of Chase's savings accounts have monthly fees if a minimum balance isn't maintained ($1,500 is common), and all have low interest rates.

Chase has been reported to do hard credit pulls. Refer to this FW thread for more info on this. Also, it has been reported on this FW thread that ACH deposits may be counted as direct deposit at Chase.

Credit for this $75 bonus page find goes to this FW thread.

8.16% 5-Month CD at a Wisconsin CU - $4K Max (Northwoods Community) read and submit comments for this post

Northwoods Community Credit Union is offering a special 8.16% APY 5-month share certificate. The minimum deposit is $2,000 and the maximum is $4,000. Only one promotional CD per member is allowed, and it requires new money. There's another CD special without a deposit cap. This one has a yield of 5.47% APY and a 8-month term. The minimum deposit is $4,000.

The 8.16% CD will earn you about $50 over what you could get a 5.16% CD if you deposit the maximum $4K. It's not a lot, but at least it doesn't require a checking account which is common for these kinds of deals. Since it's only limited to one per member, both a husband and wife should be able to open one for a total of $100 extra earnings.

Field of membership includes those who live or work in one of the following Wisconsin counties: Ashland, Bayfield, Iron, Oneida, Price, Sawyer or Vilas.

The credit union is federally insured by the NCUA. It has $43.6 million in assets and 5,801 members.

5.50% 6-Month CD at a Missouri CU - and Gift Card (American Eagle) read and submit comments for this post

American Eagle Credit Union is offering a special 5.50% APY 6-month certificate of deposit. The minimum is $1,000, and it requires new money. With a $5K minimum deposit you can receive a Visa Gift Card. Larger deposits earn higher gift card values. The values include $10 for $5K, $20 for $10K, $50 for $25K and $100 for $100K. These gift cards can effectively add 0.40% to the rate of the CD. Note, the gift cards are subject to 1099-INT reporting.

Field of membership includes those who live or work in St. Louis, St. Charles, Franklin or Jefferson County, Missouri. There are also other areas and several select employer groups in which you can be eligible to join. See site for details.

The credit union is federally insured by the NCUA. It has $841 million in assets and 91,293 members. Note, American Eagle Credit Union is a division of the Anheuser-Busch Employees' Credit Union.

5.50% 6-Month CD at Merrill Lynch Bank read and submit comments for this post

Merrill Lynch Bank is offering a special 5.50% APY 6-month certificate of deposit. The minimum is $25,000. There's also a 5.25% APY 3-month CD available. The funds must come from sources other than an existing Merrill Lynch relation. Offer expires March 9, 2007.

Another perk for this promotion is the 15,000 Merrill Points that can be earned for purchasing this CD and for applying for a new Merrill Visa credit card. Use the credit card for $25 in purchases within 90 days and you'll receive the 15,000 points. For 10,000 points you can get a $100 gift card at Home Depot, Barnes and Noble, or Macy's (see Merrill's card site.

Merrill Lynch seems to offer these special CD's every few months. Unfortunately, this rate is a little lower than what was offered in November when the 6-month yield was 5.65%.

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 IRAs are $243K and $246K.

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

Bank Deals Weekly Summary for February 10, 2007 read and submit comments for this post

A few banks seem to be trying to counter HSBC's 6% savings account promo (see post) with their own promotions. Citibank has been heavily advertising a $25 sign-up bonus for its e-Savings Account (Note, you may be able to get up to $200 in bonuses. See post), and ETrade Bank just started a $25 signup bonus for its Complete Savings Account (see post). ETrade seems intent to gain market share in online banking. They must have spent some major dollars for their Super Bowl commercials last Sunday (see commercial).

In terms of rates, this was a slow week with little change. UFB Direct increased its long-term CD rates including a 5 percentage point increase on its 12-month CD to 5.35% APY. Imperial Capital Bank dropped its short-term CD rates, but raised its long-term CD rates up to 20 percentage points.

As expected, Navy FCU came out with their 6% APY 15-month CD promotion (see post). If you have any connection to the Navy, you may be eligible to join. However, several readers have commented that their Navy connections were not good enough.

If you are unable to join Navy FCU, you may want to try Huron River Area Credit Union which came out with a 6% APY 12-month CD (see post). You can be eligible to join this credit union by joining an association open to all. Another credit union with easy membership rules is offering a 12-month CD with a yield close to 6%. MACO Educators FCU is offering a 5.96% APY 12-month CD (see post). Both of these credit unions are much smaller than Navy FCU and don't have the extensive customer service support system and easy online account opening process. Nevertheless, both are NCUA insured.

Even though Patelco Credit Union isn't NCUA insured, its size is more in the league of Navy FCU. Patelco came out with another CD promotion that offers a 5.75% APY for a 14-month term. The 5.64% APY 12-to-23 month CDs and the 5.75% 12-to-23 month IRA CDs are still available (see post).

For those in Southern California, Wescom Credit Union has a nice CD special promoting its new Sunday hours. For the next four Sundays, Wescom is offering a 7% APY 7-month CD with a maximum allowed deposit of $7K. It's almost like a checking account bonus since it requires that you open its Premium Interest Checking Account (see post).

There's another good local deal this week for those in Northern Nevada. Clearstar Financial Credit Union is offering a 6.10% APY checking account good for balances up to $25K. It's another one of these reward checking accounts which requires monthly debit card usage and direct deposit. If these requirements are not too much hassle for you, this can be a good deal (see post).

For more local deals, please refer to the local CD list. Many of these deals don't last long. Please check with the bank or credit union's website to confirm availability. If you find any that are out-of-date, a comment would be 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 Feb 3rd, Jan 27th, Jan 20th, Jan 13th, Jan 6th, Dec 30th, Dec 23rd (short version) and Dec 16th.

As of February 10, 2007

Savings Accounts/Money Market Accounts:

• Geauga Savings Bank - 5.45% ($25K min), see post
• BankUnited - 5.35% (min $5K), my post
• UFB Direct - 5.31%, my post
• iGobanking - 5.30%, my post
• Zions Bank - 5.30% MMA (min $1K) (5.34% $50K+), my post
• AmTrustDirect - 5.30% ($1K min), my post
• OneUnited - 5.30% (min $1K), my post
• Direct Huntington - 5.30% ($1K min), my post
• Apple Bank - 5.27%, my post
• WTDirect - 5.26% ($10K min), my post
• E-LOAN - 5.25% ($5K min), my post
• AmboyDirect - 5.25% (5.35% for $20K+), my post ($25 bonus)
• Presidential Bank - 5.25% (min $5K, only first $35K receives this rate), offers 4.50% checking, my post
• Countrywide - 5.25% (min $10K), (5.40% $50K+) my post
• CapitalOne/Costco - 5.20% MMA (min $5K, Costco members only, $25 deal for exec. members)
• FirstFedDirect - 5.16% (min $1K) (closed to CA residents), my post
• Discover Bank - 5.14% MMA (min $10K)
• Corus Bank - 5.13% MMA (min $10K to open)
• MyBankingDirect - 5.10% MMA (min $5K), my post
• Mutual Bank - 5.10% MMA (min $5K), my post
• Tennessee Commerce Bank - 5.07% (min $10K), my post
• EmigrantDirect - 5.05%, my post, (rate history)
• HSBC Direct - 5.05%, (6% new money promo) offers checking, my post
• ETrade Bank - 5.05%, my post ($25 bonus)
• Washington Mutual - 5.00% (requires checking), my post
• ebank - 5.00% Checking ($2.5K min), my post
• CapitalOne - 5.00% (MMA has same rate, but with checks and ATM. $100 min.), my post
• GMAC Bank - 5.00% MMA (min $500), my post
• UmbrellaBank.com - 5.00% MMA (min $1K) (5.15% $50K+), offers checking, my post
• Citibank - 4.75%, requires checking account, my post ($200 bonus)
• Self-Help Credit Union - 4.68% MMA (min $500), my post
• EverBank - 4.61% ($1.5K min), 6.01% 3-mo promo, my post
• VirtualBank - 4.60% (min $100), (4.86% $50K+/ 5.13% $100K+) offers checking, my post ($20 bonus)
• ING Direct - 4.50%, my post ($25 bonus), (rate history)
• GE Money - 4.50% (min $4K), (5.05% for $15K+), my post ($25 bonus)
• MetLife Bank - 4.40% MMA (min $5K), my post ($50 bonus)
• Imperial Capital - 4.20% MMA ($2.5K min), offers free checking, my post
• NetBank - 3.75% 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 - 5.44% (min $10K), my post
• IndyMac Bank - 5.30% (min $5K), my post
• UFB Direct - 5.30% (min $8K)
• Countrywide - 5.30% (min $10K), my post
• Imperial Capital - 5.30%, ($2K min), my post
• FirstFedDirect - 5.26% (min $10K), my post
• GMAC Bank - 5.15% (min $500), my post
• Corus Bank - 5.13% (min $10K)
• Charles Schwab - 5.09% (min $1K), my post
• ebank - 5.00% (min $1K), 5.25% for ePremium checking customers
• ETrade Bank - 5.00% (min $1K), my post
• UmbrellaBank.com - 5.00% (min $1K)
• Self-Help Credit Union - 4.98% (min $500), my post

6-Month Certificates of Deposit:

• Superior Savings - 5.60% (min $500)
• FirstFedDirect - 5.46% (min $10K), my post
• IndyMac Bank - 5.45% (min $5K), my post
• VirtualBank - 5.44% (min $10K), my post
• NetBank - 5.40% (min $1K)
• AmTrustDirect - 5.36% (min $1K) my post
• Tennessee Commerce Bank - 5.35% (min $5K)
• Corus Bank - 5.35% (min $10K)
• World Savings - 5.35% (7 months) (min $10K), branch-only, my post
• Imperial Capital - 5.35%, ($2K min), my post
• iGobanking - 5.30% (min $500), my post
• Countrywide - 5.30% (min $10K), my post
• UFB Direct - 5.30% (min $8K)
• Self-Help Credit Union - 5.28% (min $500), my post
• HSBC Direct - 5.25% (min $1K), new money only
• ETrade Bank - 5.25% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• GMAC Bank - 5.20% (min $500), my post
• EverBank - 5.15% ($1.5K min)
• E-LOAN - 5.15% ($10K min), my post
• ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
• UmbrellaBank.com - 5.10% (min $1K)
• Washington Mutual - 5.10% (min $1K), rates vary by state
• ING Direct - 5.00%, my post
• Wells Fargo - 4.80% (5 months) (min $5K), rate and min vary by state, my post

9-Month Certificates of Deposit:

• World Savings - 5.45% (10 months) (min $10K), my post
• FirstFedDirect - 5.41% (min $10K), my post
• AmTrustDirect - 5.41% (min $1K) my post
• Countrywide - 5.40% (min $10K), my post
• Imperial Capital - 5.35% ($2K min), my post
• NASA FCU - 5.25% (8 months) (min $5K), my post
• GMAC Bank - 5.25% (min $500), my post
• IndyMac Bank - 5.20% (min $5K), my post
• EmigrantDirect - 5.20% (min $1K)
• VirtualBank - 5.18% (min $10K), my post
• EverBank - 5.15% ($1.5K min)
• UmbrellaBank.com - 5.15% (min $1K)
• ING Direct - 5.05%, my post

12-Month Certificates of Deposit:

• Huron River Area Credit Union - 6.00% ($5K min), my post
• Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
• AmTrustDirect - 5.46% (min $1K) my post
• NetBank - 5.45% (min $1K), my post ($100 bonus)
• Tennessee Commerce Bank - 5.40% (min $5K)
• ETrade Bank - 5.40% (min $1K), my post
• UFB Direct - 5.35% (min $8K)
• Imperial Capital - 5.35% ($2K min), my post
• FirstFedDirect - 5.35%, (min $10K) my post
• IndyMac Bank - 5.35% (min $5K), my post
• AmboyDirect - 5.35% (min $10K), my post
• Navy FCU - 5.30% ($20K min) restrictions to membership, my post
• EverBank - 5.30% ($1.5K min)
• Corus Bank - 5.30% (min $10K)
• iGobanking - 5.30% (min $500), my post
• Melrose CU - 5.30% (min $5K) my post
• La Jolla Bank - 5.30% (min $10K), my post
• GMAC Bank - 5.30% (min $500), my post
• Self-Help Credit Union - 5.28% (min $500), my post
• Transportation Alliance Bank - 5.27% ($1K min)
• Mutual Bank - 5.25% (min $2.5K) my post
• ebank - 5.25% (min $1K), 5.50% for ePremium checking customers
• EmigrantDirect - 5.20% (min $1K)
• Countrywide - 5.20% (min $10K)
• UmbrellaBank.com - 5.20% (min $1K)
• VirtualBank - 5.15% (min $10K), my post
• E-LOAN - 5.15% ($10K min), my post
• ING Direct - 5.10%, my post
• Washington Mutual - 5.10% (min $1K), rates vary by state
• GTE FCU - 4.96% (min $500) (add-on feature) my post

14/15-Month Certificates of Deposit:

• Navy FCU - 6.00% ($8K min) restrictions to membership, my post
• Patelco Credit Union - 5.75% ($1K min), not NCUA insured, my post
• NASA FCU - 5.35% (14 months) (min $1K), my post

18-Month Certificates of Deposit:

• Patelco Credit Union - 5.64% ($1K min), not NCUA insured, my post
• NetBank - 5.45% (min $1K), my post ($100 bonus)
• iGobanking - 5.30% (min $500), my post
• GMAC Bank - 5.25% (min $500)
• Imperial Capital - 5.20% ($2K min), my post
• EmigrantDirect - 5.20% (min $1K)
• Countrywide - 5.20% (min $10K)
• ebank - 5.15% (min $1K), 5.40% for ePremium checking customers
• AmTrustDirect - 5.15% (min $1K) my post
• E-LOAN - 5.15% ($10K min), my post
• ETrade Bank - 5.00% (min $1K), my post
• Mutual Bank - 4.85% (min $5K) my post
• UmbrellaBank.com - 4.75% (min $1K)

36-Month Certificate of Deposit:

• Pentagon Federal CU - 5.50% (min $1K), my post
• Navy FCU - 5.45% ($20K min) restrictions to membership, my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• First State Bank - 5.35% ($1K min), my post
• Mutual Bank - 5.30% (min $5K) my post
• Agriculture FCU - 5.25% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• Melrose CU - 5.20% (min $5K) my post
• E-LOAN - 5.20% ($10K min), my post
• Transportation Alliance Bank - 5.15% ($1K min)
• GMAC Bank - 5.15% (min $500)
• Fort Belvoir FCU - 5.13% (min $1K), my post
• Imperial Capital - 5.10% ($2K min), my post
• ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
• Self-Help Credit Union - 5.02% (min $500), my post
• AmTrustDirect - 5.00% (min $1K) my post
• ETrade Bank - 5.00% (min $1K), my post
• Countrywide - 5.00% (min $10K)
• UmbrellaBank.com - 4.75% (min $1K)

48-Month Certificate of Deposit:

• Pentagon Federal CU - 5.50% (min $1K), my post
• Navy FCU - 5.50% ($20K min) restrictions to membership, my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• First State Bank - 5.35% ($1K min), my post
• USA FCU - 5.33% (min $1K) my post
• Agriculture FCU - 5.25% (min $1K), my post
• Melrose CU - 5.25% (min $5K) my post
• Fort Belvoir FCU - 5.23% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• E-LOAN - 5.20% ($10K min), my post
• Transportation Alliance Bank - 5.15% ($1K min)
• GMAC Bank - 5.15% (min $500)
• ebank - 5.10% (min $1K), 5.35% for ePremium checking customers
• Self-Help Credit Union - 5.01% (min $500), my post
• Countrywide - 5.00% (min $10K)
• UmbrellaBank.com - 4.75% (min $1K)

60-Month Certificate of Deposit:

• Pentagon Federal CU - 5.75% (min $1K), my post
• Navy FCU - 5.70% ($20K min) restrictions to membership, my post
• Agriculture FCU - 5.50% (min $1K), my post
• NetBank - 5.40% (min $1K), my post ($100 bonus)
• Fort Belvoir FCU - 5.39% (min $1K), my post
• USA FCU - 5.38% (min $1K) my post
• First State Bank - 5.35% ($1K min), my post
• Presidential Bank - 5.35% (min $1K)
• Melrose CU - 5.30% (min $5K) my post
• EmigrantDirect - 5.20% (min $1K)
• GMAC Bank - 5.20% (min $500)
• E-LOAN - 5.20% ($10K min), my post
• Transportation Alliance Bank - 5.15% ($1K min)
• VirtualBank - 5.15% (min $10K), my post
• Members Credit Union - 5.13% (min $2K), my post
• Imperial Capital - 5.10% ($2K min), my post
• AmTrustDirect - 5.10% (min $1K) my post
• Washington Mutual - 5.10% (min $1K), rates vary by state
• ETrade Bank - 5.05% (min $1K), my post
• Self-Help Credit Union - 5.02% (min $500), my post
• ebank - 5.00% (min $1K), 5.35% for ePremium checking customers
• Countrywide - 5.00% (min $10K)
• UmbrellaBank.com - 4.75% (min $1K)

84-Month Certificate of Deposit:

• Navy FCU - 6.25% ($20K min) restrictions to membership, my post
• Pentagon Federal CU - 6.00% (min $1K), my post
• EmigrantDirect - 5.20% (min $1K)
• Countrywide - 5.00% (min $10K)

High Rates with Conditions / Large Balances - Open to All

• 10% Affinity Savings Account for kids ($500 max)
• 6.01% Everbank 3-month intro rate on checking account
• 6.00% HSBC Savings Account New Money Promo
• 6.00% Dime 3-month intro rate on Money Market account
• 5.60% Money Market Account with $250K initial deposit
• 5.40% Personal and Business Money Market Account with $100K balance
• 5.36% Money Market Account at Bank of America with $50K+

Checking and Saving Accounts at Local Banks/Credit Unions

• $250 Checking Account Bonus at South Carolina Federal
• $7.50% Checking/Savings Account up to $500 (Washington State)
• 6.10% Reward Checking Account at a Nevada CU (Clearstar Financial)
• 6.01% Checking Account up to $25K (Little Rock)
• 6.01% Checking Account up to $25k (Arkansas)
• 6.00% Money Market Account Intro Rate in New Jersey
• 5.61% Checking Account up to $25K (AL/TN/MS)
• 5.35% No-Minimum Online Savings Account (New York)
• 5.25% Money Market Account for 3 months (New York)
• 5.25% Checking Account (Florida)
• 5.05% Low-Minimum Online Savings Account (California)
• 5.01% Checking Account (Wisconsin/Illinois)
• 5.00% Money Market Account (Utah)
• 5.00% Checking Account at an Oklahoma Bank (Legacy)
• 4.75% Checking Account (Texas)

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

Terms of 60 Months and Over

• 6.25% 120-Month CD at a New York Bank (Ridgewood Savings)
• 6.06% 60-Month CD at a Tennessee CU (MPD Community)
• 6.00% 80-Month CD at a Ohio CU (Sharefax)
• 5.90% 72-Month CD at a Missouri Bank (Garden City)
• 5.83% 60-Month CD at a Florida Bank (Surety)
• 5.81% 60-Month CD at a Utah CU (Deseret First)
• 5.75% 60-Month CD at a Georgia Bank (Peachtree)
• 5.70% 84-Month CD at a Missouri CU (Neighbors)
• 5.65% 60-Month CD at a Georgia Bank (Alpha)
• 5.50% 60-Month CD at a Washington DC Bank (Adams National)

Terms of 24 Months to Under 60 Months

• 6.98% 36-Month CD at a California Bank - Variable IRA (Alliance Bank)
• 6.15% 24-Month CD at a Florida CU (South Florida)
• 6.00% 24-Month CD at a New York CU - $50K Min (Palisades)
• 5.97% 24-Month CD at a California CU (Los Angeles)
• 5.80% 24-Month CD at a Georgia CU (MACO Educators)
• 5.80% 24-Month CD at a Massachusetts CU (Central One FCU)
• 5.80% 41-Month CD at a New Jersey CU (Tri-Co)
• 5.75% 24-Month CD at a Virginia CU (Bronco)
• 5.75% 24-Month CD at a Texas CU (United SA)
• 5.75% 24-Month CD at a New York CU (Buffalo Metropolitan)
• 5.64% 24-Month CD at a Ohio CU (Sharefax)
• 5.64% 35-Month CD at a Virginia CU (Baylands)
• 5.55% 27-Month CD at a New Jersey CU (Tri-Co)
• 5.50% 36-Month CD at a St. Louis CU (Gateway Metro)

Terms of 12 Months to Under 24 Months

• 10.00% 12-Month CD at a New York CU - $2K Max (Palisades)
• 6.35% 15-Month CD at a California CU (Alisos)
• 6.30% 14-Month CD at a Virginia CU - IRA (Apple)
• 6.25% 12-Month CD at a Multistate CU (Farmers Insurance Group)
• 6.05% 13-Month CD at a Florida CU (South Florida)
• 6.00% 12-Month CD at a Michigan CU (Huron River Area)
• 6.00% 13-Month CD at a Illinois CU - IRA (Great Lakes)
• 6.00% 15-Month CD at a Connecticut CU - IRA (Achieve Financial)
• 6.00% 18-Month CD at a Minnesota Bank - IRA (Park State)
• 6.00% 12-Month CD at a North Carolina CU (Carolina Postal)
• 5.96% 12-Month CD at a Georgia CU (MACO Educators)
• 5.90% 12-Month CD at a Utah CU - and Other High Rates (Pacific Rails)
• 5.87% 16-Month CD at a Maryland CU (MCT)
• 5.86% 12-Month CD at a Washington State CU - Variable (Cascade Forest Products)
• 5.81% 12-Month CD at a Ohio CU - $100K+ (CSE)
• 5.80% 15-Month CD at a Oregon/South Carolina CU (Consolidated)
• 5.80% 12-Month CD at a Massachusetts CU (Central One FCU)
• 5.75% 12-Month CD at a Georgia Bank (Alpha)
• 5.75% 16-Month CD at a Virginia CU - (Apple)
• 5.75% 14-Month CD at a Alabama CU (Tuscaloosa)
• 5.75% 18-Month CD at a Missouri CU (Postal and Community)
• 5.75% 12-Month CD at a Georgia Bank (Integrity)
• 5.75% 12-Month CD at a Virginia CU (Bronco)
• 5.75% 12-Month CD at a Houston CU Continues - (Right Choice)
• 5.75% 12-Month CD at a California/Nevada CU (1st United Services)
• 5.74% 18-Month CD at a Missouri Bank (Eagle)
• 5.72% 12-Month CD at a Wisconsin CU - and a $50 Checking Bonus (Royal)
• 5.70% 18-Month CD at a Utah CU (Cyprus)
• 5.70% 15-Month CD at a Missouri CU (Kilowatt)
• 5.70% 12-Month CD at a Minnesota CU (SMW)
• 5.65% 12-Month CD at a Georgia Bank (Peachtree)
• 5.61% 18-Month CD at a DC/MA CU (Transportation)
• 5.61% 12-Month CD at a DC/MA CU (Transportation)
• 5.60% 12-Month CD at a Florida Bank (Coral Gables)
• 5.60% 15-Month CD at a Multi-State Credit Union (FAA Eastern Region)
• 5.60% 12-Month CD at a Utah CU (Deseret First)
• 5.56% 13-Month CD at a South Carolina Bank (Bank of Anderson)
• 5.55% 13-Month CD at a Utah Credit Union (Tooele)
• 5.55% 15-Month CD at a California CU - Open To All (Kinecta)
• 5.51% 16-Month CD at a Maryland CU (MCT)
• 5.51% 13-Month CD at a South Dakota CU (Sentinel)
• 5.50% 12-Month CD at a Texas Bank and $50 Checking Account Bonus (Century)
• 5.50% 13-Month CD at a Alabama CU (Redstone)
• 5.50% 12-Month CD at a Texas CU (San Antonio)
• 5.50% 12-Month CD at a Texas Bank (Century)
• 5.50% 12-Month CD at a Massachusetts Bank (Needham Cooperative)
• 5.50% 16-Month CD at a New York CU (Bethpage)
• 5.50% 15-Month CD at a Missouri CU (Neighbors)
• 5.50% 12-Month CD at a Maryland/Virginia/DC Bank (Washington First)
• 5.50% 12-Month CD at a New York CU (Buffalo Metropolitan)
• 5.40% 12-Month CD at a Texas CU (United SA)
• 5.39% 15-Month CD at a Philadelphia Bank (Asian Bank)

Terms of Under 12 Months

• 7.00% 7-Month CD at a California CU - $7K Max (Wescom)
• 7.00% 6-Month CD at a CA Credit Union - $5K Max (Pacific Service)
• 6.15% 7-Month CD at a Kentucky CU Continues (Fort Knox)
• 6.00% 6-Month CD at a Louisiana CU (New Orleans Firemen's)
• 6.00% 7-Month CD at a Colorado CU (US Alliance)
• 6.00% 10-Month CD at a Michigan CU (Lake Michigan)
• 6.00% 4-Month CD at a Michigan CU - Update (Huron River Area)
• 6.00% 3-Month CD at a Virginia CU (Arlington Virginia)
• 5.92% 11-Month CD at a New York / Pennsylvania CU (Visions)
• 5.92% 6-Month CD at a New York / Pennsylvania CU (Visions)
• 5.80% 7-Month CD at a Oregon/South Carolina CU (Consolidated)
• 5.75% 9-Month CD at a Maryland CU (Prince George's Community)
• 5.75% 6-Month CD at a Georgia Bank (Integrity)
• 5.75% 3-Month CD at a California CU (San Jose)
• 5.75% 6-Month CD at a California CU (San Jose)
• 5.70% 7-Month CD at a Iowa Bank (American Bank)
• 5.65% 9-Month CD at a Arizona CU (Arizona Federal)
• 5.65% 11-Month CD at a Missouri CU (River Region)
• 5.65% 7-Month CD at a Dallas Bank (Jefferson)
• 5.65% 6-Month CD at a Georgia Bank (Columbus Community)
• 5.62% 11-Month CD at a Alabama Bank (The Peoples)
• 5.60% 11-Month CD at a Maryland CU (Point Breeze)
• 5.60% 6-Month CD at a Texas CU (San Antonio)
• 5.58% 4-Month CD at a Arizona CU (Vantage West)
• 5.58% 3-Month CD at a Arizona CU (Vantage West)
• 5.57% 11-Month CD at a Maryland CU (MCT)
• 5.55% 5-Month CD at a Illinois CU - IRA (Great Lakes)
• 5.55% 8-Month CD at a California CU - IRA (San Diego County)
• 5.55% 11-Month CD at a California CU (LA Financial)
• 5.50% 11-Month CD at a Florida Bank (Platinum)
• 5.50% 6-Month CD at a California/Nevada CU (1st United Services)
• 5.50% 9-Month CD at a Florida CU (Achieva)
• 5.50% 6-Month CD at a Washington DC Bank (Adams National)
• 5.40% 9-Month CD at a Chicago Bank (Builders)
• 5.35% 11-Month CD at a Chicago Bank (Park National)
• 5.35% 8-Month CD at a New York CU (Bethpage)

Bank Account Alternatives

• Money Magazine article on risk-free investments
• Vanguard Prime Money Market Fund - 5.10% 7-day yield
• Fidelity Money Market Fund - 4.95% 7-day yield ($100 bonus and other info)
• Paypal Money Market Fund - 5.02% 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

5.75% 14-Month CD at Patelco Credit Union read and submit comments for this post

Patelco Credit Union has started a new 14-month certificate with a yield of 5.75% APY. The minimum deposit is $1,000, and it requires 50% of the funds to be new to the credit union. They continue to offer a 5.64% APY CD and a 5.75% IRA CD with terms of 12 to 23 months.

Patelco is one of the few credit unions in which anyone can be eligible to join. For more details of this and other Patelco information, please refer to this previous post.

Patelco is privately insured by American Share Insurance (ASI) up to $250K per account. It is not federally insured by the NCUA.

$25 Sign-Up Bonus for ETrade Bank's 5.05% Savings Account read and submit comments for this post

[Update 6/8/07: Promo is now good through 12/31/07. See post for more info.]

ETrade Bank has just started offering a $25 sign-up bonus for its Complete Savings Account. ETrade started this Complete Savings Account last November. It has no minimum balance requirements and no monthly fees. The current yield is 5.05% APY which is the same yield it had when it launched in November.

Here's the ETrade promotional page for this bonus, and here are the details from that page with the important points highlighted:

$25 will be credited to your Complete Savings Account within 30 days of the account being funded with a minimum deposit of $1. Payments will be reported as interest income. Accounts must be opened by February 28, 2007 to quality for the $25 offer. Must be a new account opened with new funds. Offer applies to one new account per customer. Not good with any other offer. This offer is not valid for E*TRADE FINANCIAL employees.

The nice thing about this is bonus is that it only requires $1. It appears that this promotion may be available for current ETrade Bank customers who may already have an ETrade checking, money market or brokerage account.

Please refer to my ETrade's Complete Savings Account review post for more info.

If you're deciding between HSBC Direct's 6% promo or this ETrade promo, you should consider how much you intend to deposit. If it's $10K, you'll make a little less than $25 in extra interest at HSBC.

Credit for finding this promotion goes to shrazzy who mentioned it in the finding deals post. Thanks!

Problems at HSBC's US Operations read and submit comments for this post

HSBC's US operations had a difficult time last year, and reports of the problems are making the news (see TimesOnline article). According to the article, bad debt will be 20% more than the $8.8 billion anticipated by analysts and this is mostly due to the deterioration in the US business.

What will this mean for HSBC Direct? Bankrate.com did give HSBC Bank USA a 2 out of 5 safe-and-sound rating based on September 30th financial data. It'll be interesting to see how this changes on newer data. Keep in mind that HSBC is the third-largest banking company in the world (see Wikipedia article). Also, HSBC Bank USA is FDIC insured.

So I wouldn't worry. We'll have to see what happens to the rates after this 6% savings account promotion ends on April 30th. Hopefully, they'll be able to maintain competitive rates even after the promo like they have done for the past two years.

Please refer to my HSBC Online Savings Account review post for more info on the 6.00% promotion and details about HSBC Direct.

Thanks to the reader who emailed me the link to this article.

5.97% 24-Month CD at a California CU (Los Angeles) read and submit comments for this post

Even though the 6% 6-month CD that I reported on last month has ended, Los Angeles FCU still has high rates on its standard CDs with terms of 24 to 35 months. The best rate is 5.97% APY for a Senior Jumbo share certificate. You must be 55 years or older for the Senior Share Certificates, and the Jumbos have a minimum deposit of $100K. The APY is 5.81% for a Senior Share Certificate with a $1K minimum or a plain Jumbo CD, and the APY is 5.66% for a plain CD with only a $1K minimum deposit. These CDs are also available in Traditional and Roth IRA accounts and in Coverdell Education Savings Accounts. The yield for these is 5.81% APY with a minimum deposit of $500.

The field of membership includes members of the Los Angeles Charitable Association, Inc.. It has a membership fee of at least $1. You can be immediately eligible via select employee groups and by family. See site for details.

Note, several readers reported last month that the credit union changed the rules of eligibility so that members of the LA Charitable Association had to also live in the LA area. Please refer to the comments of my previous post for more info.

There's a $5 credit union membership fee (can be waived with a LAFCU Visa card application), and membership requires a $5 balance in your share savings account. To avoid monthly fees, you must maintain a $50 balance.

The credit union is federally insured by the NCUA. It has $571 million in assets and 43,624 members.

6.00% 12-Month CD at Huron River Area Credit Union (Open to All) read and submit comments for this post

Huron River Area Credit Union has a new 6% CD special. It's a 6% APY 12-month certificate of deposit. It has a minimum of $5,000 and a maximum deposit of $100,000. The offer expires on February 28, 2007.

Anyone is eligible to join the credit union by enrolling in the organization Learn & Earn Credit.org. In addition, the field of membership includes select employer groups and other affiliations in the Washtenaw, Livingston, Wayne, Oakland, and Macomb counties. Please refer to their membership page for more details. Credit union membership requires a minimum $6 deposit into your regular savings account.

When I had contacted the credit union last year, the CSR mailed me the application with detailed instructions. The application includes a line in which you agree to join the Learn & Earn Credit organization for a $1 fee. You must mail in a copy of your driver's license and a notarized signature. Please refer to this credit union page to request more info.

I was surprised to see this new CD promo at Huron. For the last three months, they've been having other 6% CD specials with terms of 4 and 6 months, but I guess they're still trying to bring in more deposits. My last post on them was in early January.

Branches are located in the Michigan cities of Ann Arbor, Chelsea, Auburn Hills, Centerline, Howell and Brighton. The credit union is federally insured by the NCUA. It's a moderate size credit union with $348.8 million in assets and 39,318 members.

Thanks to the reader who emailed me news of this CD promotion.

[Update 2/20/07: Please see this post for news regarding Huron River Area CU.]

5.96% 12-Month / 5.80% 24-Month CD at a Georgia CU (MACO Educators) read and submit comments for this post

MACO Educators FCU is offering a special 5.96% APY 12-month certificate. The minimum deposit is $500. It also has high rates on its standard share certificates especially for deposits over $50K. The highest rate is 5.80% APY for a term of 2 years.

Field of membership includes members of the GettingAhead Association. According to the website, "membership is open to any individual who is genuinely committed to improving their own financial well-being." There's a $5 fee to join this association. Employees and students of several select groups can be immediately eligible to join the credit union without joining the association. Membership into the credit union requires a minimum $10 deposit into a savings account. The membership application is available online. Note, it's intended to be printed and mailed (that's why the form isn't secure).

Branches are located just northwest of Atlanta, Georgia in the cities of Kennesaw, Marietta, Dallas and Woodstock. The credit union is federally insured by the NCUA. It has $130.4 million in assets and 25,685 members.

5.50% 12-Month CD at a Texas CU (San Antonio) read and submit comments for this post

San Antonio FCU is offering a special 5.50% APY 12-month certificate. The minimum deposit is $1,000.

It looks like they just recently ended a 5.60% 6-month special that I posted on last month. The credit union continues to have some competitive long-term CD rates including a 5.60% APY 7-year CD and a 5.65% APY 10-year CD with a minimum of $10K.

Field of membership includes those who work for government or financial institutions in San Antonio or those in college in San Antonio. You can also be eligible via Select Employer Groups in San Antonio and in Houston and via family. See site for details. Branches are located in both Houston and San Antonio.

The credit union is federally insured by the NCUA. It's a large credit union with $2 billion in assets and 235,449 members.

6.00% 15-Month CD at a Connecticut CU - IRA (Achieve Financial) read and submit comments for this post

Achieve Financial Credit Union is offering a 6.00% APY 15-month IRA certificate. The minimum deposit is $500.

Field of membership seems to be primarily based on Select Employer Groups associated with hospitals and schools in Central Connecticut. Contact the credit union for more details. A minimum $25 deposit in a Prime Savings Account is required for membership.

Branches are located in Berlin, Meriden, and New Britain, CT. The credit union is federally insured by the NCUA (this page seems to have an old URL). It has $87.6 million in assets and 14,654 members.

6.00% 7-Month CD at a Colorado CU (US Alliance). read and submit comments for this post

US Alliance Credit Union is listing a special 6.00% APY 7-month certificate of deposit. The interest rate is 5.87%. The minimum deposit is $25,000.

Field of membership includes those who live or work in Downtown Denver or in the towns of Firestone, Frederick or Dacono or in the Weld County portions of Longmont and Erie. You can also be eligible via Select Partner Groups and Select Home Owner Groups. As is common, you can be eligible via family, however, it states "related to someone", so it seems you can be eligible via cousins and other non-immediate family. Membership requires a minimum $25 deposit into a share savings account and a one-time membership fee of $1.

Branches are located in Denver and Firestone, CO. The credit union is federally insured by the NCUA. It has $68 million in assets and 6,893 members.

[3/3/07 Update: Special CD is no longer listed at the credit union's website.]

6.25% 120-Month CD at a New York Bank (Ridgewood Savings) read and submit comments for this post

Ridgewood Savings Bank is offering a special 6.25% APY 10-year IRA certificate of deposit. The minimum deposit is $2,000. According to the retirement service rep, the promotion should be available until April 17, 2007. The early withdrawal penalty equals one year of interest. About opening this IRA CD by mail, the service rep said that it would depend on the individual branches.

There's also a grand opening CD special at two of its branches. The specials include a 5% APY 5-year CD, a 5.50% APY 7-year CD and a 6.00% APY 10-year CD. In addition, several gifts are available based on the term and the initial deposit. Gifts include an Apple 1GB iPod Shuffle, an Apple 2GB Silver Nano, a XBOX 360 and a Samsung 23 inch LCD TV. These specials are only available at the Morris Park and Bayside branches. New deposits are required. The special lasts until February 24th at Morris Park and March 3rd at Bayside.

Ridgewood Savings Bank has branches in the New York areas of Queens, Brooklyn, Bronx, Nassau County and Suffolk County. It has been FDIC insured since 1943. The bank has a 4 out of 5 safe-and-sound star rating at Bankrate.com.

Thanks to the reader who mentioned these CDs in the finding deals post.

1.25% Reward Checking Account at a Nevada CU - $25K Max (Clearstar Financial) read and submit comments for this post

Update 6/07/09: The top yield has fallen to 1.25% APY. Please refer to the bottom of the post for the rate history.

Clearstar Financial Credit Union is offering up to 1.25% APY on its Reward Checking account. This is another one of those checking accounts that offer a high yield on the first $50K in return for debit card usage and some other activities. Here is the full list of requirements:

• Use your debit card 12 times
• Receive e-statements
• Receive at least one direct deposit or make one direct payment

In return, you'll receive 1.25% APY on balances up to $50K (0.25% on balances above $50K) and ATM fee refunds of up to $7 per transaction and $25 per month. Plus, the account has no minimum balance requirements and no monthly fees.

Clearstar Financial's field of membership includes those who live, work, worship or attend school in the any of the 13 northern Nevada counties. See site for details. Branches are located in Reno and Sparks, NV.

The credit union is federally insured by the NCUA. It has $154 million in assets and 17,884 members.

Rate History:
06/01/09: 1.25% APY up to $50,000
05/07/09: 1.50% APY up to $50,000
03/25/09: 1.90% APY up to $50,000, 0.25% over
02/06/09: 2.26% APY, 0.49% for above $50,000
12/30/08: 2.51% APY, 0.74% APY for above $50,000
9/01/08: 3.04% APY
4/02/08: 4.35% APY, balance cap increased to $50,000
2/07/07: 6.10% APY, balance cap of $25,000, 1.24% APY for above cap

Update on Grand Yield Direct Savings Account Bonus read and submit comments for this post

Update 11/16/09: The rate has fallen to 1.40% APY.
Update 9/08/09: The rate has fallen to 1.50% APY.
Update 8/07/09: The rate has fallen to 1.60% APY.
Update 6/25/09: The rate has fallen to 1.70% APY.
Update 5/29/09: The rate has fallen from 1.90% to 1.80% APY.
Update 3/19/09: The current rate is 2.15% APY.

The good news is that I received the $25 bonus. The bad news is that this bonus is no longer available (according to the service rep). To receive the bonus I had to call. The service rep said that they would confirm that my application included the promo code and if it did, the $25 credit would show up in the account within a day. I called on February 1st and the bonus was credited on February 2nd. So if you haven't received your bonus, be sure to call. If you haven't joined, be sure to keep a look-out for future promos. The last one first appeared on Bankrate ads in November.

Even without the bonus, the Grand Yield Direct Savings Account is a good deal. The rate remains at 5.27% APY and has no minimum balance requirements. The savings account first reached 5.25% APY in September. It started with a 5% APY last July.

Here's a quick summary of my sign-up process.

• Applied online on 1/16
• Trial deposits made on 1/17
• Verified trial deposits on 1/18
• Initial deposit debited from my checking account on 1/19
• Registered for internet banking and first accessed my account on 1/21 (balance showed $0)
• Initial deposit first showed up in account on 1/23
• Called about bonus on 2/1
• $25 bonus credit appeared in account on 2/2

A few notes about the sign-up process:

• You can use either a checking or savings account for the initial ACH deposit
• The minimum allowed initial deposit is $1. The maximum is $500,000.
• Also have choice to fund with a check
• If funded with ACH, nothing needs to be mailed in
• Had to register for internet banking to access account (initial password equals last 4 digits of SSN)
• Had to create a new link with new trial deposits for withdrawals/deposits

For more info on Grand Yield Direct and to read others' experiences, please refer to my Grand Yield Direct Savings Account review. Additional info on the transfer limitations is in this post and bonus info is in this post.

[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.]

[Update 9/20/07: The yield has fallen from 5.27% APY to 5.15% APY.]

6% Savings Account Promos Like Yesterday's Toasters read and submit comments for this post

This Bankrate article has a good discussion about the high yield savings accounts today and how banks like HSBC are using high yield promos like a gift toaster to attract new customers. Both HSBC Direct and Citibank's e-Savings account have attracted about 300,000 customers. Citibank's recent move in dropping the rate on its e-Savings account points out that these banks will often offer temporary high rates. After the promo is over, the rates may fall and no longer be competitive. Banks hope that most people will feel the rates are good enough to stick with them. It'll be interesting to see what happens to HSBC's rates after April 30th. Will they return to a decent 5.05%? Or will they follow Citibank and drop the rates even more? Please refer to my HSBC 6% promo post for more info.

The Bankrate article also mentions new savings/checking accounts and promos at other banks including Salem Five Bank's new eSavings account (see my post), iGoBanking (see my post), Everbank's FreeNet checking (see my post) and ING Direct's new Electric Orange checking account (see my post).