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Credit Unions

All articles tagged with #credit unions

finance1 year ago

"Finding the Best Savings Interest Rates: Your Ultimate Guide"

Online-only personal savings accounts offer the highest interest rates, beating traditional accounts and even one-year CDs, while credit union checking accounts have significantly higher rates and lower fees compared to regional banks. Credit unions also offer the best CD rates across all maturities, while business accounts are the most expensive and offer the lowest rates. Overall, electronic statements are recommended to save money, and students can benefit from checking accounts with the lowest fees.

via USA TODAY|
#cd-rates#checking-accounts#credit-unions
finance1 year ago

"Comparing the Best CD Rates of 2024: Find the Top Offers Today"

The best nationwide CD rate has increased to 5.75% for a 6-month offer from Andrews Federal Credit Union, with NASA Federal Credit Union offering 5.70% for 9 months. While rates have slightly decreased since October's peak, they remain historically high, with 34 CDs paying 5.50% or higher. The Fed is expected to lower interest rates, making it a good time to secure a high-paying CD. Longer-term CDs are also attractive, with a 2-year rate of 5.27% and 4-5 year offers in the upper 4% range. Jumbo CD rates vary, and it's important to compare standard and jumbo rates before deciding. The Fed's decisions on rates have significant implications for CD rates, and while predictions are uncertain, current rates are likely to plateau or decrease from their record highs.

via Investopedia|
#cd-rates#credit-unions#federal-reserve
personal-finance2 years ago

Comparing CD Rates: High APYs and Short vs. Long-term Options

Several certificates of deposit (CDs) are currently offering annual percentage yields (APYs) of 6% or higher, but it's important to consider the fine print and eligibility requirements before investing. Many high-paying CDs are offered by credit unions with membership requirements, and some have short durations that may affect the actual earnings. Potential investors should carefully review the terms, early withdrawal penalties, and payment schedule. Additionally, it's crucial to assess whether a CD aligns with one's overall financial plan and to determine eligibility for membership. Experts advise considering the context of broader financial goals and the possibility of declining interest rates in the future.

via MarketWatch|
#apy#cds#certificates-of-deposit
cybersecurity2 years ago

"Cyberattack on Trellance Causes Outages for Dozens of US Credit Unions, Federal Agency Reports"

Around 60 credit unions in the United States are facing outages due to a ransomware attack on an IT provider they use, according to the National Credit Union Administration (NCUA). The extent of the outage and its impact on credit unions is still unclear. The attack targeted Trellance, a cloud computing firm provider used by credit unions, through a third-party vendor called FedComp. Ransomware attacks have increasingly disrupted critical infrastructure in the US, including hospitals, fuel pipelines, and schools, leading the Biden administration to address ransomware as a national security crisis.

via KABC-TV|
#credit-unions#cybersecurity#it-provider
finance2 years ago

"Maximize Your Earnings with Today's Top CD Rates: Up to 6%!"

Securityplus Federal Credit Union offers the leading CD rate of 6.00% for an 8-month term until November 30th. There are a dozen additional CDs paying 5.75% or better available in the daily ranking of the best nationally available CDs. The top national rates for terms of 2 to 5 years range from 5.20% to 5.60% APY. The top jumbo CD rate is currently 5.85% APY. CD rates may not increase further and could potentially decline due to anticipated interest rate stability and favorable inflation data.

via Investopedia|
#cds#credit-unions#finance
finance2 years ago

"Latest CD Rates: New High-Yield Offers Dominate the Market"

The top nationwide CD rate has reached 6% with an 8-month offer from Securityplus Federal Credit Union, available until November 30. Other competitive rates include a 13-month CD from Dow Credit Union at 5.76% APY, an 18-month certificate from Seattle Bank at 5.80% APY, and a 6-month certificate from TotalDirectBank at 5.76% APY. The Federal Reserve is expected to maintain interest rates, suggesting that CD rates may not increase further and could potentially decline.

via Investopedia|
#banking#cd-rates#credit-unions
finance2 years ago

"Unbeatable: Nation-Leading CD Rate of 6.18% Holds Strong"

The nation-leading CD rate of 6.18% APY offered by Bayer Heritage Federal Credit Union for a 1-year term remains unchanged, while other record-rate options are available. 14 other CDs offer rates of 5.75% APY or more, with two paying 5.80% APY. The Federal Reserve's decision on future rate increases remains uncertain, but CD rates are expected to stabilize at their current elevated levels.

via Investopedia|
#banking#cds#credit-unions
finance2 years ago

"Maximize Your Earnings with Top CD and Money Market Rates Today"

The best CD rates in the US are holding steady at record levels, with the top-paying nationwide CDs offering rates of 6.00% to 6.50%. Financial Partners Credit Union leads with a rate of 6.50% APY on an 8-month term, but with a maximum deposit of $5,000. For larger deposits, Credit Human and Sandia Area Federal Credit Union offer rates of 6.00% APY on terms of 12-17 months. The Federal Reserve is expected to announce a rate hold this week, but another increase may be possible in December or January.

via Investopedia|
#cd-rates#credit-unions#federal-reserve
personal-finance2 years ago

"Maximize Your Savings: The Best Rates and Accounts to Consider Today"

With high interest rates, consumers are opting to save money in high-yield savings accounts instead of spending. Credit unions and small banks offer better value for disciplined savers, with the top-earning high-yield savings accounts currently paying as much as 5.33%. A recent survey revealed that 3 in 5 Americans are spending less due to higher rates, and 56% are stashing more money in their bank accounts to take advantage of higher yields. Small banks and credit unions offer lower account fees and higher interest rates compared to national banks. However, despite increased savings, 1 in 2 Americans still have more debt than savings.

via Kiplinger's Personal Finance|
#credit-unions#high-yield-savings-accounts#interest-rates
finance2 years ago

Comparing CD and Savings Account Rates: October 2023 Update

Banks and credit unions have maintained steady CD rates ahead of the holiday weekend, offering record-high returns ranging from 5.75% to 6.00% APY. Credit Human leads with a customer-friendly CD rate of 6.00% APY for terms between 12 and 17 months. The Federal Reserve's recent rate hold suggests a pause to assess the impact of previous hikes, but further rate increases are still possible. CD rates are expected to rise if the Fed decides to increase rates again.

via Investopedia|
#banking#cd-rates#credit-unions
finance2 years ago

"Record-High CD Rates and New High-Yield Options: Your Guide to Today's Top Money Market Accounts"

CD rates in the U.S. are at their highest levels in over 16 years, with the top nationwide rates holding steady. Pelican State Credit Union offers the industry-leading rate of 5.90% APY on a 2-year certificate, while over two dozen other CDs are paying rates of 5.50% APY or better. The Federal Reserve's next meeting is in five weeks, and it remains uncertain whether interest rates will be raised or held steady. Longer-term options are available for those looking to secure rates of 5.00% or more. It is important to compare rates across different types of certificates before making a final decision.

via Investopedia|
#banking#cd-rates#credit-unions
finance2 years ago

"Comparing CD and Savings Account Rates: August 9, 2023"

The top nationwide rate on a certificate of deposit (CD) remains at 5.75% APY, but the only option available at that rate is a 9-month certificate from Andrews Federal Credit Union. However, there are 20 other options that offer rates of 5.50% APY or better. The longest term to earn 5.00% or more is three years, with a rate of 5.13% APY, unless you have a jumbo-sized deposit that qualifies you for 5.12% APY on a 4-year term. The Federal Reserve's next meeting on interest rates is in six weeks, and it is uncertain if rates will be raised again this year.

via Investopedia|
#cd-rates#credit-unions#federal-reserve
financetechnology2 years ago

FedNow® Service Goes Live, Bringing Instant Payments to More Banks and Customers

The Federal Reserve has announced that its new system for instant payments, the FedNow Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, providing benefits such as immediate access to funds and efficient cash flow management. The service operates alongside other Federal Reserve payment services and aims to support widespread availability for customers over time.

via Federal Reserve|
#banks#credit-unions#federal-reserve
finance2 years ago

Assessing the Safety of Your Money Amid Recent Bank Failures

Recent bank failures have raised concerns about the safety of deposits. However, if your money is in a US bank insured by the FDIC and you have less than $250,000 there, your money is safe. Credit unions are insured by the National Credit Union Administration. If you have over $250,000 in individual accounts at one bank, experts recommend moving the remainder of your money to a different financial institution. Joint accounts can protect up to $500,000. The FDIC covers checking accounts, savings accounts, CDs, and other official items issued by an insured bank, but not stock investments, bond investments, or crypto assets.

via Yahoo Finance|
#bank-failures#credit-unions#fdic-insurance
finance2 years ago

Maximizing Your Earnings: Navigating the Current CD Rate Landscape.

CD rates remain steady with credit unions offering the highest rates, including a 5.35% APY on a 22-month certificate from Langley Federal Credit Union. Rates of 5.00% or better are available in every term from 3 to 35 months, with eight certificates paying at least 5.25% APY. The Federal Reserve is expected to hike rates by a quarter point in May, but rates may plateau and eventually decrease. It's a good time to consider locking in a CD that will pay attractive dividends for months or years to come.

via Investopedia|
#cd-rates#credit-unions#federal-reserve