BankVibe.com was launched in November of 2008 in the midst of a financial storm with a magnitude in which most of us have never witnessed first-hand before.
One of the most fascinating dynamics (to us) that existed during this time was the massive flood of money moving from the stock market to FDIC-insured bank deposits.
Banks at this time were in desperate needs of funds to back the bad mets that many of them made, so banks began offering unbelievable APY’s (annual percentage yields) to draw in these consumers. During the late 2008, bank deposits were at record highs – averaging 5 to 6 percent on 12 month terms.
A perfect storm was created – the massive withdrawal from the stock market combined with record high FDIC-insured deposit rates for consumers to run to.
We found this to be an impeccable opportunity to help spread the word of the most exceptional deposit rates and promotional offers going on around the country – whether they came large national banks or smaller neighborhood credit unions.
Needless to say, today is a vastly different environment in terms of savings rates, however we’ve grown immensely since 2008 and now provide a wide range of information on all things finance!
Interested in reaching out? We’d love to hear from you!
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