Jumbo CD Investments - CD Rates Blog

EmigrantDirect Savings Rate - Updated Aug 2008

Updated: 8/28/08. EmigrantDirect’s saving rates is moving up the scale finally. Althought it isn’t the top rate I’ve had an account with them for a couple of years now and I love it. Currently it is at 3.00% APY.

This savings account works really well. You link the account to another bank account, such as where you do your primary banking, and you can transfer funds between the two accounts on-line.

The FDIC# for Emigrant Bank is 12054. They are over $11.5 Billion in assets.

Here is their website, EmigrantDirect

cd :O)

Washington Mutual (WaMu) Savings Account Rate

Updated 8/04/08. Washington Mutual or WaMu as they are called, has a nice Savings Account Rate. I’m not a fan of the higher yield savings rates because they tend to bring in the funds and then lower the rate. However, most of them allow for electronic transfers, so if the rate does go down it is pretty easy to move it. The rate is 3.75% APY.

Washington Mutual


WaMu is federally insured by the FDIC. The FDIC# is 32633. They are over $300 Billion in assets.

FNBO Direct Savings Rate

FNBO Direct is the internet arm of First National Bank of Omaha. They are currently offering an attractive internet savings account rate of 3.50%.

FNB of Omaha is a good size bank with $9.4BB in assets and a very healthy profit of $99MM in the first quarter. They are well capitaized. They certainly look better than many other banks in their peer group.

If you are looking for good, safe liquid account that is easy to manage, this may be it.

FNBO Direct — 3.50% APY

Countrywide Bank Savings Rate - Updated 7/8/08

Countrywide Bank is offering high rates on their savings accounts, money markets and CDs.

[Side Note: On 7/01/08 Bank of America completed its acquisition of Countrywide Financial Corp. At this point, Countrywide Bank is remaining separately insured from Bank of America. However, it is likely that at some point it will be merged in.]

For $50,000 and above, the savings rate is 3.65% APY. Updated 07/08/2008.

They have over $121 Billion dollars in assets and are FDIC insured. Their FDIC# is 33143.

Countrywide Bank Savings Rate

If you like talking to a real person we can help with CDs, but we have a fee for that service. You can call us at 800-234-4605 or email us.

AARP Savings Account Rate

Updated: 7/08/08.  AARP had an amazing savings rate.  They took in a lot funds and then kindly dropped the rate.  It stands at 4.05% APY.  The underlying bank is Huntington National Bank.  Their FDIC # is 6560.  I will warn you though.  The health of Huntington is questionable.  Granted, they are a very large bank, about $54BB, and the Fed has shown some resistance to allowing large banks to fail; the Fed did close down ANB Financial, about $2BB.

Bankrate.com gives them 3-stars which is average.  When I actually tried to review the report, there was an error.  Interestingly enough, there was a big ad for AARP on the site.  I’m jealous.  The rating system we use gives them the equivalent of 1-star.  That is for data reported as of 12/07.

I believe the deposit may be able to be held at Countrywide instead.  I saw some other people posting they wouldn’t dare let that happen.  Ironically, Countrywide has a higher rating in the system we use (3-stars), but everyone has been scared away by the bad press.  Bankrate.com has Countrywide as unrated.

So tread carefully.  I would recommend keeping funds under $100,000 if you go through with the deposit.  If you are doing POD accounts make sure it is titled correctly.  The FDIC regs say not only do the bank records have to clearly have the beneficiaries listed, but the letters POD or ITF have to be on the account title.

Here is the AARP link.

cd :O)