Jumbo CD Investments - CD Rates Blog

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)

EmigrantDirect Savings Rate - Updated Mar 2008

Updated: 3/21/08.? EmigrantDirect’s saving rates has become steadily less attractive.? Which is a shame, because it is so easy to use. Currently at 2.75% 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

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HSBC Direct Savings Account Rate - Updated Feb 2008

Updated 11/04/08. HSBC has one of highest savings rates. The current savings rate is 3.00% APY. The account needs to be set-up on-line. Keep in mind that your actual earnings will depend on how long you leave the funds in the account.

They are quite a large bank with over $169 Billion in assets. In the US, they have multipel FDIC#s, but it appears the savings accounts are issued under FDIC# 57890.

Here is the link, HSBC Direct

CD Rates Comparison

Washington Mutual (WaMu) Savings Account Rate

Updated 4/10/08.? Washington Mutual or WaMu as they are called, has a nice Savings Account Rate.? In this rate environment, I’m not a fan of the higher yield savings rates because they are bound to go lower.??The rate is 3.30% APY.

Washington Mutual



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

Countrywide Bank Savings Rate - Updated 2/1/08

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

[Side Note: On 1/11/08 Bank of America annoucned they were buying Countrywide Financial Corp. Although I don’t believe this necessitates a merger of the banks, that will most likely happen.]

For $50,000 and above, the savings rate is 3.80% APY. Updated 05/21/2008.

They have over $99 Billion dollars in assets and are FDIC insured. Their FDIC# is 33143.

Countrywide Bank Savings Rate

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