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Banking

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In 1934, PSECU started with 22 founding state employees who needed financial backing to give their families the best foot forward. By collaborating, these families were able to help one another. Today, the credit union has over 450,000 members beyond simply state employees.  One of the financial products offered is Certificates of Deposit. Savers can watch their money growth farther with this product, but they have to be able to let the money set in…

Teachers pooling funds and supporting one another resulted in the formation of the original credit union that led to Achieva Credit Union. Savers use Certificates of Deposit, also called CDs, to grow their money with flexible rates and terms.  A Certificate of Deposit is a financial product where the bank holds an amount of money deposited for a specific period of time in order to earn a certain amount in return. The details related to…

Metro Credit Union came into being in 1926 thanks to 35 members who contributed their time and pooled $2,000 to serve one another’s financial needs. In the time since, Metro Credit Union has evolved into the largest credit union chartered by the state of Massachusetts. This not-for-profit financial coop is member owned and operated and operates under the philosophy of “people helping people.” Convenient saving comes with a Certificate of Deposit. This product provides flexibility…

City National Bank is based out of Los Angeles, providing a full range of banking and investment services. With 72 offices located in Southern California, the Bay Area, Nevada, NYC, Nashville, Atlanta, Minneapolis, Washington, D.C., and Miami, this financial giant offers personal service and full financial solutions for business and personal purposes. Several institutions are subsidiaries of City National Bank, including the following: City National Rochdale, LLCCity National Securities, Inc.First American Equipment FinanceOther affiliated companies…

Alostar Bank is a division of Cadence Bank, N.A. As such, this bank is committed to customer service and financial facilitation even as the way banks operate changes. Certain essential philosophies are tightly held by Alostar Bank. These include providing solid value, personalized and professional service, and well-capitalized and secure transactions.  Well-known for providing outstanding rates for customers – often among the best in the nation, Alostar prioritizes helping customers make money with their money.…

When people collaborate with a shared goal of helping one another get a leg up in the world, magical things happen. This synergistic energy is exactly what led seven scientific professionals to bond together in 1949 with $2 each and work toward bettering one another financially. Over time, this institution evolved into the NASA Federal Credit Union that exists today. TermMinimum BalanceAPY^Dividend Rate60 months$1,0001.35%1.34%49 months1$10,0001.45%1.44%48 months$1,0001.30%1.29%36 months Bump Rate2$1,0001.05%1.045%36 months$1,0001.15%1.15%24 months Bump Rate3$1,0000.90%0.90%24 months$1,0001.00%1.00%15 months4$10,0001.20%1.19%12…

Midwest Bank provides Fixed and Flex Certificates of Deposit as products designed for customer savings. Midwest Bank, founded five generations ago and held within the family in the years since, prioritizes collaboration and premiere customer service. Their efforts to be an appropriate steward for shareholders and an asset to the community guide all decisions and policies. The focus of Midwest Bank and its local branches remains on the financial and community goals of the respective…

Cornerstone Bank offers Certificates of Deposit with a minimum of $500 to open. Rates differ depending on the length of time from deposit to maturity.  Formed in 2017, Cornerstone Bank is the marriage of two historical community banks into one. SpencerBANK and Southbridge Savings Banks have served the citizens of Central Massachusetts since 1871 and 1848, respectively. With a home base in Worcester, Massachusetts, the operations of the bank extend to 13 branches. Cornerstone Bank…

CFCU (Community Federal Credit Union) reports that members have access to Lucky Savers Certificates as well as Certificates with a $500, $25,000, or $100,000 minimum to open. Lucky Savers can deposit a minimum of $25 with a 0.80% APY after 12 months. CD rates increase over time, with funds compounding monthly. CFCU Logo Membership is limited to any individual who resides, works, attends religious observations, or attends school in Tompkins, Cortland, Cayuga, Ontario, or Seneca…

Redstone Bank reports that they offer shared, jumbo and members-only and members-only plus rates for both certificate of deposit types as well. Non-bank members can expect Redstone CD bank rates a .10% rate for a 6-month jumbo certificate in 2019, according to their website while a member receives a .36% rate for the same type of CD. Membership is based on employment or membership to certain companies and local churches. For a 36-month regular share…

The bank you choose makes just as much of an impact on you as the car you drive, the phone you use, or the insurance you depend on. The banking industry may seem different on the surface, but the reality is that many customers make the decision of what bank to choose based on factors other than just financial health or even interest rates. 26 percent of consumers would never choose a bank without reading…

A person’s age plays a significant role in their willingness to utilize the convenience of banking online. Weekly trips to the bank were part of the normal routine throughout the working years for many older people and the thought of accessing a bank account through a computer is simply beyond comprehension. The fact remains, long lines in a brick and mortar banking institution have been replaced with a wide variety of online banking services. Society has…

New research from the Principal Financial Well-Being Index shows that the economy is the greatest source of stress for Americans, followed by their personal finances, job and health. According to the 52 percent of retirees and 42 percent of workers, the cause of a high stress level is the economy, while according to the rest 30 percent of retirees and 34 percent of workers, personal finances is the cause of the stress. On the recent…

Are you ready for the next move in the war on consumers? Banks are preparing to institute debit card fees in response to the caps that are about to go into effect. Tomorrow marks the day when a cap on debit card fees charged merchants will go into effect. Banks stand to lose billions in fees – even though the modified rules aren’t as limiting as those originally proposed. Banks have been moving to increase…

Many of us have come to rely on debit cards. They are convenient methods of payment, working like credit cards — and accepted where credit cards are used. You can swipe your debit card quickly and easily, without worrying about paying interest; your money comes right out of your checking. And now, banks are betting on the fact that you will want to keep the convenience of debit cards. Wells Fargo is test out monthly…

One of the items that has been in the financial news a lot lately is the effort to come to an agreement on caps to swipe fees on debit cards. While originally proposed at 12 cents, the new swipe fee announcement puts the fee at a base rate of 21 cents, with the ability to tack on a little extra for fraud protection. These new rules could already be heralding the end of free checking…

Many of us assume that when we want to open a bank account, it’s a simple matter. After all, we aren’t borrowing anything; we should be able to open a deposit account with minimal fuss. While many financial institutions will let you open a deposit account with the identification information required by law, and by answering a few questions, others will add another step: Looking at your ChexSystems report. What is ChexSystems? ChexSystems is an…

There has been a lot of hand wringing lately by banks. Regulations are in effect, and soon, a debit fee interchange cap will be instituted. Big banks, which have been enjoying big profits since many of them repaid their TARP obligations, are complaining about lost revenues. And, in order to recover some of the money they say they are losing as a result of regulations and caps, they are starting look for ways to raise…