Archive for November, 2009


High CD Rates in Mississippi

IH Mississippi Valley Credit Union is offering an amazing 5 year CD right now.

Over at IH Mississippi Valley Credit Union very competitive cd rates they lay out the best rates offered by the credit union.

First and foremost the 60 month CD rate is being offered at 4.07% apy.

They also have some other very notable CD rates being offered.

  • 12 months – 2.02% APY
  • 15 months – 2.02% APY
  • 18 months – 2.12% APY
  • 24 months – 2.48% APY
  • 36 months – 3.04% APY

Each one of these offers come with only a $500 minimum deposit.

Account opening must be done through a local branch.  You can find the local branches by visiting their website here.

Membership to the credit union is open to residents of Quad City and nearby areas. They operate branches in Illinois cities like Rock Island, Moline, East Moline, Prophetstown, and Silvis. They also have Iowa offices in DeWitt, Bettendorf, and Davenport.

The credit union is NCUA insured.

If you are not available for membership with the credit union you can check out our highest cd rates here.


Want to become a Millionaire? Its easy.

Becoming a millionaire may not be as difficult as you think.  If you can wrap your head around the fact that you are not going to “Get Rich Quick”, well about 99.9% of us won’t, you are on your way to retiring a millionaire. 

Becoming a millionaire takes time and financial awareness.  Investopedia has a great piece which lays out 6 Simple Steps to $1 Million.

  1. Stop Senseless spending – If you do not need it, don’t buy it.  That money can be saved and used to build wealth.  If you build wealth now you can buy whatever you want later.
  2. Fund Retirement Plans ASAP – Are you putting away in a retirement account? No, then start now.
  3. Improve Tax Awareness – Many very good tax deductions are available to those that seek them.  These savings add up to amazing amounts over all the years of your life.
  4. Own Your Home - There is no gain in renting a home.  And now with house prices bottoming out it is a great time to buy and build equity. 
  5. Avoid Luxury Wheels – Depreciation, that is all I really need to say.  If you avoid a huge car payment now, invest that money instead you’ll be able to pay cash for whatever car you want once your a millionaire.
  6. The Bottom Line - Saving is how you reach the 7 figure mark.  Start early and start now. 

I love how Investopedia concludes this article, they say, “Spend wisely and save diligently, your million-dollar dreams are well within reach.”

If you plan to start investing and saving now you can use our resources to help you along the way.  Check out our best CD rates and our Best Interest Checking Accounts.


$6,500 Home Tax Credit Sound Good? Not so fast…

How great does a $6,500 Home Tax Credit Sound?

Great enough to go out and buy a new house?  Not so fast…

Like pretty much everything in life there are a few catches to the tax credit. And not everyone is going to qualify.

In order to be sure you qualify to take advantage of the credit bankrate.com has a 4 question check list.  Before you decide make sure you can answer yes to these 4 questions on $6,500 home tax credit.

  • Are you already in the market?

“It’s a benefit if you need or want to move,” was a statement made by Dorcas Helfant-Browning, a former president of the NAR (National Association of Realtors).

  • Do local market conditions look favorable?

Helfant-Browning said, “Anybody contemplating doing this must feel strongly that the homes in their area have bottomed or are very close to bottoming,”

  • Can you sell your home in time?

Check on the average length of time a home is on the market in your area. This credit is only good until April 2009. If your average time on the market is 90-120 days from today you should be OK.

  • Can you close the expense gap?

“If you are upgrading, you need to make sure you have enough equity and available cash to cover the down payment.”

Remember that sometimes you are already in the best situation for your needs. Do not consider moving or purchasing a home just because this credit is being offered. Be sure to take into account all aspects of your situation before moving forward.

And remember it is always a great idea to meet with a Real Estate Professional who can lay out all your options for you.

If you are ready to move forward you can use our mortgage calculator or check out our mortgage rates to help you.


Can Foreclosure Cost You More than Just Your House?

With so many homes foreclosing all throughout the country it is important to know the total impact a foreclosure will have on you if you are ever forced to consider that option.

Especially if you own multiple homes.  Many homes heading into foreclosure are 2nd homes and rentals.  Banks respond differently to 2nd homes and rentals foreclosing.

There are a few very important questions worth considering.

  1. Can and Will the Lender Sue You?
  2. Is the rest of the money you have safe?

This article from bankrate.com answers both of these questions. Is my money safe after foreclosure?

Protecting your CD (certificate of deposits), Credit Cards, Interest Checking accounts and any other assets you have can only be done by educating yourself.

Get educated and protect what you have in this poor economy.

Many times foreclosure and bankruptcy are not the fault of the person going through the situation.  With the poor state of the economy and many people losing their jobs foreclosures and bankruptcies are at an all time high.

If you find yourself in this situation, do not let two wrongs happen.  Educate yourself so you know how to protect what you will have left after the foreclosure.


National City Checking Account Pays $300 Bonus

National City is offering a substantial checking account bonus until November 28th. This bonus is open to anyone who is opening a new personal checking account with National City and the bonus can be up to $300 cash. Here are the few details we know about this bonus so far:

The first thing you will need to do is find the nearest National City bank near you, as this deal is only offered at their branches. There is a St. Louis news site promoting this special offer from National City, so residents of St. Louis can get in on this offer. You can contact National City for information on locations near you at 1-800-622-6650.

This is what you need to do to get the bonus:

  • First $100 bonus:

Set up a monthly direct deposit of at least $400 and have 10 check card purchases in the first 60 days of the account.

  • Second $100 bonus:

Maintain your direct deposit, but complete an additional 25 check card purchases by 3/31/2010.

  • The final $100 bonus:

Still maintain your direct deposit and complete another 25 check card purchases by 5/31/09.

National City is trying to get loyal customers and by using their services they are willing to reward you with a bonus of up to $300. If you do not want to complete so many check card transactions you can still qualify for one or two of the bonus and still earn $100 or $200 cash. You can find other bank deals here.


Very Good CD Rates for Ohio Residents – November 2009

Columbus First BankColumbus First Bank of Ohio is posting some very good local CD rates starting November 11th.

If you are a resident of Ohio you can take advantage of these great rates by visiting a Columbus First Bank located in Worthington, OH.

The Best CDs offered by Columbus First Bank of Ohio are:

  • 12 Month CD – 2.05% minimum deposit of $500
  • 24 Month CD – 2.55% minimum deposit of $500

Columbus First Bank is FDIC insured.  You can review their rates page here.

If you are not a resident of Ohio you can check out our national best CD Rates.

Remember that CD rates are time sensitive, so be sure to note the date of this article.  Then please refer to the banks website for details to insure accuracy.


Highest 3 Year CD Rates Yield 3.0% APY – November 2009

You may find it hard to find a 3 year CD rate above the 3.0% APY mark. Nationwide we have found the top 36 month CD rates coming from either credit unions or national banks instead of local banks.

Flagstar Bank has a 3 year CD yielding 3.0% APY. The minimum deposit is $500 to receive this rate from Flagstar. If you look at Flagstar’s current rates, their 30 month CDs are yielding 2.16% but if you jump up 6 months to their 36 month CD, you will yield a more lucrative rate of 3.0% APY. On their site you will have to enter your zip code before getting the interest rate in your area. After doing a few zip codes from major cities, we have found that the 3 year CD rate of 3.0% APY is common to most locations.

Alliant Credit Union has the same 3 year CD rate of 3.0% APY but comes with some strict requirements for eligibility. To be eligible for this 3 year CD rate you must deposit atleast $50,000 and fit into the following requirements:

  • live or work in the following Chicagoland communities: Arlington Heights, Bensenville, Des Plaines, Elk Grove, Elmhurst, Franklin Park, Harwood Heights, Itasca, Mount Prospect, Northlake, Niles, Norridge, Park Ridge, Prospect Heights, River Grove, Rolling Meadows, Rosemont, Schiller Park, Wood Dale and Chicago O’Hare Airport property.
  • Any person related by blood or law to an existing member.
  • Domestic partners of unmarried members.

If you cannot meet the minimum requirements for their 3 year CD rate, you can still earn the high CD rate of 2.85% APY.

CD rates are time sensitive in nature so please view the date of this article for interest rate accuracy. If you know of better 3 year CD rates then please let us know.


High Yield Checking Account At 4.0% APY

Michigan Interest Checking AccountLake Michigan Federal Credit Union is offering a fairly nice high yield checking account. They are located in Michigan but have opened their doors to customers nationwide, so if you live outside of Michigan you can open this high yield checking account. The account is called “Max Checking Account” and provides an interest rate of 4.0% APY on deposits up to $15,000.

Details of the account:

  • Free! No fees or minimum account balance requirements
  • 4% APY on balances up to $15,000.
  • A max of $15/month in surcharge ATM withdrawal fee refunds.
  • Free MasterCard debit card.
  • Unlimited check writing
  • Free online banking
  • Free phone banking
  • Direct Deposit with Free automatic transfers
  • Free online bill pay with Direct Deposit (usual cost of $5.95/month)
  • 24-hour access to your funds

There are four monthly usage requirements with this account:

  • Direct deposit into your LMCU account
  • Minimum of 10 debit card purchases
  • Minimum of 4 logins to home banking
  • Sign up to receive eStatements/eNotices

You can learn more about the high yield checking accounts (sometimes referred to rewards checking accounts), visit our interest checking account page to learn more about these rates.


High 6 Month CD Rate for Washington State – November 2009

VerityRight now Verity Credit Union in Washington State has a special 6 month CD Rate.

From now until November 13th you can get a 6 month CD rate of 2.00% APY (annual percentage yield) with only a $1,000 minimum deposit.

  • 6 Month CD – 2.00% APY – $1,000 Minimum Deposit

You can open the account online here, or go to one of their many branches:

Auburn Branch
1424 Supermall Way, #200
Auburn, WA 98001

Beacon Hill at VAMC
1660 S. Columbian Way-Bldg 35
Seattle, WA 98108

Federal Building
915 2nd Ave Room 290
Seattle, WA 98174

Northgate Branch
11027 Meridian Avenue N, Suite 101
Seattle, WA 98133-8540

Wallingford Branch
4545 Stone Way North
Seattle, WA 98103


Becoming a member is easy. There are a few membership guidelines. You can sign up for membership and review the guidelines here.

If you do not live in Washington State you can check out our highest cd rates.


Earn $150 Dollars Bonus with First Tennessee

Do you live in Tennessee?

You have an opportunity to take advantage of a special offer that First Tennessee is currently offering.

first tennessee

What do I have to do to get the Bonus?

Customers can earn $150 bonus by setting up a new checking account with online bill pay.

How do I get it?

You can log on to First Tennessee website and fill out the application online here. Or you can take a copy of the add into your local location and sign up with a banker.

Is there anything else I need to do?

These requirements must be met in order to qualify for the Bonuses.

First there is a $100 bonus for the New Checking account.  The requirements are:

  1. Open a new checking account.
  2. Start with a minimum deposit of $300.
  3. Keep the account in good standing for 6 months.

Second there is a $50 bonus for the online bill pay.  The requirements are:

  1. For existing customers, you must have never used Bill Pay Online or used the service since August 1, 2009
  2. New and Existing customer must pay a minimum of six bills by December 31, 2009

How do I receive the bonuses?

After you meet all the requirements the $100 and the $50 bonuses will be deposited into your bank account seperately.

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