Cascade Bank has branches throughout the Pacific Northwest and can accept local funds. They were chartered in 1916, and they are the oldest financial institution headquartered in Snohomish County, Washington. Cascade Read more...]]> Cascade Bank, based out of Washington state, has a few noteworthy CD rate promotions for 6 month and 12 month terms. Other than those promotions their savings rates are somewhat lackluster – in fact, most sit significantly below the national average.

Cascade Bank has branches throughout the Pacific Northwest and can accept local funds. They were chartered in 1916, and they are the oldest financial institution headquartered in Snohomish County, Washington. Cascade Bank claims to have navigated that region’s history’s highs and lows right along with their customers, changing and growing together. Their claim to fame has always been their customer service and their slogan – “Real People. Real Attention” – reiterates that fact.

CD Rates and Promotions offered through Cascade Bank:

- 3 month CD yielding 0.10% APY and 0.30% APY depending on deposit amount.

- 6 month CD SPECIAL yielding 1.00% APY and 1.25% APY depending on deposit amount.

- 9 month CD yielding 0.25% APY and 0.50% APY depending on deposit amount.

- 12 month CD SPECIAL yielding 1.35% APY and 1.60% APY depending on deposit amount.

- 18 month CD yielding 1.15% APY and 1.40% APY depending on deposit amount.

- 24 month CD yielding 1.45% APY and 1.70% APY depending on deposit amount.

- 36 month CD yielding 1.75% APY and 2.00% APY depending on deposit amount.

- 5 year CD yielding 2.25% APY and 2.50% APY depending on deposit amount.

Like all bank rates, these are time sensitive in nature. Please refer to the date of this article for accuracy. Check out our CD rates page for current rates available in your area.

Jax Metro Credit Union out of Jacksonville, Florida has a 12 month CD yielding 2.02% APY with a minimum deposit of just $500 required. Read more...]]> When compared to the national average, we’ve seen fairly high CD rates in Florida. A couple weeks back we noted that the top 6 month CD rates in Florida were crushing the national average – and now it looks like the 12 month deposit rates have followed suit!

Jax Metro Credit Union out of Jacksonville, Florida has a 12 month CD yielding 2.02% APY with a minimum deposit of just $500 required. The national average for 12 month bank certificates sits at roughly 1.17% APY (to put this offer in perspective) and the best rates available nationally aren’t even reaching the 1.60% APY mark.

Another interesting offer comes from Baxter Credit Union out of Miami, Florida. They have set up a “rainy day savings account” which provides yields of 1.51% APY the first 12 months but then jumps up to a whopping 2.95% APY for the second 12 month period. Below are the features, terms and conditions associated with this account…

• Annual Percentage Yield (APY) is subject to change without notice.
  
• The stated opening APY will double after the first twelve consecutive monthly deposits.
  
• Minimum of $25 monthly deposit is required.
  
• $500 maximum deposit allowed per month.
  
• Initial deposit cannot exceed $1,000 and must be made during the month the account is opened or the monthly maximum deposit of $500 will apply.
  
• Funds exceeding the maximum deposit will be transferred to the member’s regular share.
  
• Two withdrawals allowed per calendar year. Excess withdrawals are subject to a $25 penalty.
  
• No withdrawal allowed for the first 90-days or a $25 early withdrawal penalty will be imposed for each withdrawal within 90 day period.
  
• Accounts not meeting the minimum monthly deposit will earn the regular share rate for that month.
  
• Membership is required to open account.

There Read more...]]> A phenomenal 12 month CD rate promotion was forwarded to us this week by BankVibe.com reader Justin. It comes from Navy Federal Credit Union, based out of Virginia. As of last month they are offering their members 12 month “Easy Start” IRA CDs (certificate of deposits) yielding a whopping 3.25% APY! The current national average for 1 year CD rates sits at roughly 1.20% APY (to put this offer in perspective).

There is somewhat of a catch, however, that comes with this promotional CD. First, before investing in any of Navy Federal Credit Union’s CD’s you must be a member of their institution. Although NFCU is one of the largest credit unions in the country (both by asset size and membership), they still have fairly strict eligibility requirements. To learn more about eligibility, visit their website @ www.navyfcu.org. Second, their 12 month CD promotion is only available to deposits ranging from $50 (min) to $3,000 (max), you must have a NFCU checking account to supplement this account AND it’s only available to those starting an IRA.

12 month CD Promotion Terms and Conditions:

• This offer is effective February 1, 2010, Navy Federal reserves the right to end or modify this offer at anytime.
• $3,000 maximum balance.
• Only one Special IRA EasyStart Certificate per member is allowed.
• Certificate owner(s) age 18 and older must have Direct Deposit of Net Pay (minimum $300 per direct deposit), a Navy Federal checking account, and a monthly automatic deposit of at least $15 within 90 days of the certificate issue date.
• If these requirements are not met your Special IRA EasyStart Certificate dividend rate will be reduced to the prevailing dividend rate of a standard IRA EasyStart Certificate for the remainder of the certificate’s term.
• At maturity the Special IRA EasyStart Certificate will automatically renew to a $100 minimum, standard IRA EasyStart Certificate at the prevailing dividend rate unless member specifies otherwise.

Discover Bank’s Popular Products:

Discover Bank’s 12-month CDs : This is a 12 month timed Read more...]]> Discover Bank, originally known as Greenwood Trust Company before joining Discover Financial Services in 2000, offers FDIC insured bank CDs (certificates of deposit) as well as money market accounts and high yield online savings accounts. By consistently offering interest rates that beat the national average they have grown to manage over $25 billion in consumer deposits.

Discover Bank’s Popular Products:

Discover Bank’s 12-month CDs : This is a 12 month timed deposit. You will earn a fixed interest rate and your money is FDIC insured. You will want to make sure you can keep your money in this account until the duration is over. There may be penalties for early withdrawal.

Discover Bank CDs 24-month CDs: This is a 24 month timed deposit. You will earn a fixed interest rate and your money is FDIC insured. You will want to make sure you can keep your money in this account until the duration is over. There may be penalties for early withdrawal.

Discover Bank Money Market: This is a liquid account. You will earn a variable interest rate and your money is FDIC insured. You can make fast and free online money transfers and you can access your account from anywhere (online, ATMs, w/ Discover debit card, etc).

For our readers Read more...]]> After another abysmal month for bank CD rates, we tracked down a couple decent (decent being a relative term) rates offered on 12 month bank CDs. The national average for this particular product currently sits at a historically pathetic 1.26% APY – down from 1.30% APY at just the beginning of March. However, if you look hard enough you can still find FDIC or NCUA insured banking institutions offering above 1.70% APY on 1 year certificate of deposits.

For our readers in the west, Alaska USA Federal Credit Union’s CD rates are beating the national average by a pretty substantial margin. Their 12 month CD rate hovers around 1.75% APY with a minimum deposit of $500 required. Alaska USA Federal Credit Union is the 13th largest credit union in the country in terms of membership (roughly 350,000 members) and 17th largest in terms of assets (roughly $3.8 billion). They have branches throughout Alaska, the Puget Sound area of Washington State, and California’s Victor Valley.

For consumers whom don’t reside in those areas, Tennessee Commerce Bank’s CD rates are topping the chart for banking institutions whom can accept deposits from customers in every state. Their 12 month CD is currently providing an annual interest rate of 1.70% APY with a minimum deposit of $2,500 required.

If your local bank or credit union is offering higher rates on their 12 month CD’s, please share by leaving a comment!