Horizon Bank Offers $150 Checking Account Bonus

Horizon Bank is currently offering a free $150 for customers who open a checking account with them. In order to get the bonus, consumers must complete the following tasks: open a new checking account, make a direct deposit, and complete 10 debit card purchases.

Horizon Bank has four checking accounts to choose from. They have Free Checking, Student Checking, 55+ Checking, and Prime Checking. Each account has slightly different features depending on what the consumer needs. They also have an account called Fresh Start Checking however, this type of checking account is not included in the promotion.

For all the accounts, no minimum balance is required. Plus, each account also has $0 monthly fees with the exception of Premium Checking which imposes an $8 fee if the balance falls below $2,500. The only advantage with the Prime Checking is that it offers interest to the account balance.

The best offer would probably be Free Checking unless you are above 55 years of age, then the 55+ Checking would be the most agreeable choice because of interest.

About Horizon Bank

Horizon Bank first started in 1873 and has stood the test of time. It survived the Great Depression up until the current recession, and is still maintaining its service until today. The bank belongs to the Money Pass ATM network that gives its consumers access to over 1000 surcharge free ATMs. The bank is also insured by the FDIC, having been a member since 1934. This gives consumers a guarantee for money up to $250,000 per account.

In order to open an account, a bank visit must be made in their branches at Indiana and Southwest Michigan. Indiana Branches can be found in the cities of Elkhart, Michigan City, South Bend and Valparaiso. Michigan branches are in Saint Joseph and Buffalo. The promotion first had a deadline of October 31, 2011, however the deadline of opening a new checking account has been extended up to November 19, 2011.

Best 5 Year CD Rate Finally Drops Below 3%

When you thought the financial news couldn’t get any worse, Melrose Credit Union lowers their 5 Year CD to 2.93% APY on Tuesday. Mortgage rates are increasing and saving rates are decreasing, it seems to be the same old news week after week. Melrose Credit Union was our glimmer of hope, our bright shining star in this dark and dreary economy.

This small credit union from Queens, N.Y still leads in the 5-year ranking, but has dropped below the 3% barrier. They are still paying a quarter-point more than any other financial institution and also still lead in other CD terms.

One of the reasons why rates are tumbling is because the Fed continues to give banks as much cash as they want for near nothing. The Fed also announced in early November that they planned on buying $600 Billion worth of Treasury Bonds, this move has helped keep rates depressed.

Here is a list of the next best 60-month CD rates:

Anyone nationwide can qualify and open an account with these banks and financial institutions. Melrose Credit Union also allows anyone to join their credit union for a $1 fee and a $25 deposit into a savings account.

Compare these rates with our updated CD rates board to be sure you get the best rates available nationally.