S-Bank’s Grand Opening 9 month CD special - Locals Only

S-Bank, based out of Massachusetts, is offering a phenomenal 9 month CD rate of 2.33% APY to their local customers. To put this offer in perspective the national average for 6 month CDs sits at 0.90% APY and the national average for 12 month CDs is around 1.30% APY.

Many thanks to BankVibe reader Mark for sending us this offer!

Although S-Bank is calling this a “grand opening special offer” it’s available at all of their local branches (not just the new one). This product is not being shown on their website, you must stop by one of their local branches in Weymouth, Quincy or Bridgewater to take advantage of it. You can view the ad online here.

As a side note S-Bank also has some very competitive rates associated with their money market accounts. Currently if you are to maintain a balance of above $75,000, you will earn 2.0% APY. The national average for money market rates sits at roughly 1.15% APY.

About S-Bank:

S Bank is governed by a Board of Directors. They are a fully owned subsidiary of South Shore Mutual Holding Company, which is governed by a Board of Corporators. S-Bank is member FDIC and your deposits will be federally insured up to $250,000.

You may want to compare this offer with other Massachusetts CD rates.

Great Low Fixed-Rate Credit Card offer from this Credit Union!

Neighbors Federal Credit Union out of Baton Rouge, Louisiana has a great fixed-rate credit card available to those with decent credit living in Louisiana. It comes in the form of a Visa Classic Card and provides an enticingly low APR of 8.90%. The national average for low interest credit cards currently hovers around the 11% mark (to put this offer in perspective).

Unfortunately for most of us, this offer will be out of our reach because you must be a member of Neighbors Federal Credit Union (as well as have sufficient credit) to be approved for the card. If you do not reside in the state of Louisiana or have family members there you will most likely not be able to gain access to this credit union.

How to Join NFCU:

Neighbors Federal Credit Union proudly serves anyone who lives, works, worships, or attends school in these nine Louisiana parishes: East Baton Rouge, West Baton Rouge, Ascension, Livingston, Iberville, Pointe Coupee, East Feliciana, West Feliciana, and Saint Helena.

Details of Low Fixed Rate Credit Card offered by NFCU:

• Low, FIXED rate, as low as 8.9% APR;
• View balances and make payments with Online Banking or by phone with Audio Response;
• Online account statements and information;
• Lost/Stolen Card Reporting day or night

Neighbors Federal Credit Union is a member of the NCUA (credit union equivilent to FDIC).

Bryant State Bank’s MasterCard - Full Review:

Bryant State Bank’s MasterCard, issued by Bryant State Bank, is a credit card for those with moderate to decent credit scores. This card’s greatest attractions are it’s fair pricing (APR) and convenient benefits. It provides helpful emergency and safety features such as “Emergency Cash Advance and Card Replacement,” 0% fraud liability and 24/7 online account access. It does, however, lack the reward structure in which rewards credit cards, cash back credit card and frequent flier credit cards possess.

Learn More

The Bryant State Bank MasterCard offers a low introductory rate of 3.25% on balance transfers for 6 months, plus, it doesn’t carry a dreaded balance transfer fee which you can generally see with these cards. This is an extremely favorable feature for those looking to transfer balance(s) carried on their current high APR credit cards. The APR for purchases and cash advances is 11.25%.

Bryant State Bank’s MasterCard List of Features:

• Low Interest Rate of 11.25%*
• Introductory Balance Transfer Rate
• No Balance Transfer Fee
• $0 Fraud Liability
• 24/7 Online Account Access
• Emergency Cash Advance & Card Replacement
• Worldwide Acceptance
• *See Card Terms and Conditions

ReliaBank Dakota’s “Ultimate Checking Account” - 4.07% APY

ReliaBank Dakota has moved to the number 3 spot on BankVibe’s high interest checking account chart this month with an “Ultimate Checking Account” which provides yields of up to 4.07% APY on balances up to $25,000. Unlike most interest checking or rewards checking accounts this one comes with no minimum balance requirements, although you must make an initial deposit of at least $50. You must meet the monthly requirements which are generally associated with these accounts (details below) or else you will only earn 0.25% APY. Also, if your account balance exceeds the $25,000 threshold you will only receive 1.01% APY on the exceeding amount.

Monthly Requirements to Earn 4.07% APY:

• Make twelve CheckCard transactions per statement cycle
• Enroll and receive e-statements
• Have at least one direct deposit, one automatic debit, or one bill pay clear the account per statement cycle

Chase Bank extends it’s Business Checking Account Bonus

Back in October we made note of Chase Bank’s business checking account bonus which was offering anyone in the market for a new biz checking account a free $100 bonus for signing up. This offer was originally set to expire at the beginning of 2010, however, we just got word (thanks to Tom for tipping us off!) that Chase is extending this offer until March 15, 2010.

So… if you’ve recently registered a new business and would like a $100 cash injection (courtesy of Chase Bank) simply obtain a $100 Bonus coupon and take it to your nearest branch!

Details of Business Checking Bonus offered through Chase Bank:

• You’ll need to deposit $500 within 30 days of opening the account.
• This offer is valid until March 15, 2010.
• To qualify for this offer, open a Chase BusinessClassicSM Checking, BusinessClassicSM Checking with Interest, Chase Advanced BusinessCheckingSM, Advanced Business CheckingSM with Interest, Commercial Checking, Commercial Checking with Interest, or Chase BusinessPlus® Extra Checking account and deposit a minimum of $500 or more into your new business checking account within 30 days of account opening with funds not currently on deposit with Chase or any of its affiliates.
• Account opening and award of premium are subject to approval (interest bearing accounts available only to sole proprietorships, non-profit organizations, and government entities).
• Limit one business checking account-related premium per customer per calendar year.
• Chase reserves the right to withdraw this offer at any time without notice.
• Attempts to earn multiple premiums may be voided by Chase, at its discretion.
• Offer not available to existing Chase checking customers.
• Coupon must be presented at time of account opening.
• Offer not available on account conversions or in combination with any other offer and is non-transferable.
• Employees of JPMorgan Chase Bank, N.A. and our affiliates are not eligible.
• Cash premium will be deposited automatically into your checking account within 10 business days after the minimum deposit requirement is met.
• Cash bonus may be considered interest reportable on IRS Form 1099-INT.

Doral Bank Direct: CD rates and Review

Doral Bank, based out of New York, is currently offering some decent CD rates through their online banking division - Doral Bank Direct. Doral Bank Direct is a wholly owned subsidiary of Doral Financial Corporation. (NYSE: DRL), a diversified financial services company headquartered in Puerto Rico with 35 years in the banking industry. Although headquartered in Puerto Rico, they are still member FDIC and your deposits are federally insured up to $250,000.

Doral Bank Direct Current CD Rates

- 6 month CD yielding 1.25% APY with a minimum deposit of $1,000 required.

- 9 month CD yielding 1.40% APY with a minimum deposit of $1,000 required.

- 12 month CD yielding 1.90% APY with a minimum deposit of $1,000 required.

- 18 month CD yielding 1.50% APY with a minimum deposit of $1,000 required.

- 24 month CD yielding 1.75% APY with a minimum deposit of $1,000 required.

- 36 month CD yielding 2.00% APY with a minimum deposit of $1,000 required.

- 48 month CD yielding 2.25% APY with a minimum deposit of $1,000 required.

- 60 month CD yielding 2.50% APY with a minimum deposit of $1,000 required.

Although some of the above products are not offering higher rates than the national averages, most of the rates associated with the short-duration products (ie: 6 months through 2 years) are signifantly higher than national average rates. To put the above offers in perspective, the national average for 6 month CDs, 12 month CDs, and 3 year CDs are 0.92% APY, 1.34% APY, and 2.07% APY respectively.

Features, Terms and Conditions:

	$1,000 minimum opening deposit.
	Maintain a minimum daily balance of $1,000 to earn the effective APY*.
	Six (6) month to sixty (60) month terms.
	Interest compounded daily and credited quarterly.
	Withdraw your credited interest earnings without penalty.
	Guaranteed rate for the entire CD term.
	Early withdrawal penalties apply.

Village Bank CD Rates: 20% higher than national average

Village Bank, based out of Richmond, Virginia, is offering some fairly decent CD (certificate of deposit) rates as of this week. Unfortunately for most of us, however, these products are only available to those residing within their community.

Some of their deposit products which are beating the national averages by the highest margins are: a 6 month CD yielding 1.36% APY with a minimum deposit of a $1,000 required, a 12 month CD yielding 1.71% APY with a minimum deposit of $500 required, and a 3 year CD yielding 2.68% APY with a minimum deposit of $500 required. The national averages for 6 month, 1 year and 3 year CDs are 0.89% APY, 1.31% APY, and 2.05% APY respectively.

Village Bank’s Current CD Rates:

To find an optimal product, compare the above CD rates with the best CD rates in Virginia.

Village Bank’s footprint within the community:

• Employees get two days paid time off each year to donate their time and resources to community projects of their choosing.
• Village Bank created the Village Bank High School Scholarship program that offers $2,500 scholarships to outstanding high school students interested in continuing their education.
• Their green initiative includes installing recycling bins at all of their locations, moving their customers towards using electronic statements instead of paper ones and instituting a recycling program for all of their employees both at the branches and at their offices to reduce waste going to landfills.

Fort Campbell Federal Credit Union: CD Rates and Review

Fort Campbell Federal Credit Union based out of Clarksville, Tennessee has some superb short-term CD (certificate of deposit) rates. Currently, with a minimum deposit of $1,000 you can receive a 90 day or 3 month CD yielding 1.70% APY. To put this offer in perspective, the national average for 6 month CD rates only sits at 0.98% APY. Also, with a minimum deposit of $1,000, Fort Campbell Federal Credit Union is offering it’s members a 6 month CD yielding 1.90% APY.

To invest in any of these NCUA-insured (FDIC equivilent for credit unions) products you must first become a member.

Becoming A Member at Fort Campbell Federal Credit Union:

Membership is available to anyone who lives, works, worships or attends school in Montgomery or Stewart counties in Tennessee or Christian, Trigg or Todd counties in Kentucky.

Since 1954 Fort Campbell Federal Credit Union served the military and their families posted at Fort Campbell. They have since expanded to include offering their financial services to everyone in their local community. Today, the Credit Union has more than 36,000 members worldwide, with over $345 million in assets, offering a complete range of products and services.

CD (Certificate of Deposit) Rates offered by Fort Campbell Federal Credit Union

Banco Popular’s Free Checking Account: $125 bonus + gift!

After covering Capital One’s checking account bonus last week, BankVibe reader Zach mentioned another substantial checking account bonus available to residents in New York, New Jersey, Illinois, Florida and California. Banco Popular has a “Free Checking Account” which comes with a $125 bonus for signing up as well as a free “gift.” You must check with a physcial branch for various gift options and details regarding the sign-up bonus.

A couple years back they were offering this same account with a free set of binoculars as the gift. However, when this promotion was running before the sign-up bonus was incentive-based so that your bonus earnings were packaged with certain favorable actions for the bank. The previous bonus structure was as follows… (check with a physical branch to see if it’s currently set up the same way)

- Earn $25 for turning in your old checks and debit card,

- Earn $50 for adding direct deposit,

- and another $50 for signing up for online bill pay.

About Banco Popular (the noteworthy facts):

- Banco Popular North America’s parent company, Popular Inc., ranks among the top 30 bank holding companies in the country and celebrated its 116th anniversary in October. 

- Their branch network in the U.S. consists of more than 100 branches across five states: New York, New Jersey, Illinois, California, and Florida.

- Banco Popular is one of the top 5 small business lenders in the country. A Preferred SBA lender, who offers financing and supports capital needs nationwide.

- The Banco Popular Foundation awarded more than $500,000 in grants to more than 40 non-for profit organizations in 2007.

KANZA Bank’s Rewards Checking Account: 4.00% APY

Another decent Rewards Checking Account came rolling into our inbox this morning. This one is being offered by Kanza Bank - a family owned, community bank with deep roots in Kansas. Kanza Bank, based out of Kingman, Kansas, is offering a high yield “rewards checking account” that is providing a very generous 4.00% APY on all balances up to $25,000 when qualifying conditions are met. If your account balance exceeds the $25k threshold you will still garner a respectable 1.75% APY on the exceeding amount (4.00% APY on the initial $25k).

Kanza Bank Rewards Checking Account Details:

To receive the Tier 1 and Tier 2 APYs (Tier 1 = 4.00% APY paid on balances up to $25k, Tier 2 = 4.00% APY paid on first $25k plus 1.75% APY paid on exceeding amount), you must meet the following three qualifications per statement cycle:

1) Make 12 debit card purchases

2) Receive one direct deposit or authorize one ACH auto debit

3) Receive s-Statements

If qualifications are not met, account will receive 0.05% APY on entire balance. Available to personal accounts only. You must maintain a minimum balance of $1,000 in the account each day to obtain the disclosed APY. You must maintain a minimum balance of $2,500 in the account each day to obtain the disclosed APY.  Fees may reduce earnings on these accounts.