Jumbo CD Investments - CD Rates Blog

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

IndyMac Bank Closed

[Update 7/14/08 6:40 AM PST– It appears that IndyMac’s website is functioning now. The new name, IndyMac Federal Bank, FSB is noted at the bottom. The website has a link to the FDIC info about the failure. From what I can tell, the non-brokered funds have been transferred to the new bank and things will continue as normal, probably until the FDIC can find a buyer. The Brokered deposits will be returned probably in similar fashion to ANB. Hopefully, IndyMac has them classified correctly so that there aren’t similar delays though.]

I was reading the newspaper Saturday Evening and was shocked to see IndyMac was taken over by the FDIC late Friday. Depending how you do the math, this was the 2nd or 3rd largest closure in history. IndyMac was over $32B in assets. IndyMac saw a $1.3Billion dollar run on the bank eleven days prior to Friday. The FDIC was concerned they wouldn’t be able to meet demands. Much of this run stemmed from Senator Charles Schumer. Him and the OTS have traded back and forth barbs.

Of course none of that helps the employees or the depositors of IndyMac. Anyone holding $100,000 or less will receive their deposits fairly quickly. On Monday you can call the FDIC Call center at 866-806-5919. There where also probably be more info posted at IndyMac’s website, but at the moment it just has general info.

Here is the link fo info from the FDIC. Call us on Monday if we can be of any service.

Passing Around Some Link Love

Still working on the newsletter. We’ve been looking at bringing on some additional products and services, and that research has been taking up quite a bit of time. Hopefully, over the next months, you will see some fruits of that.

In the meantime, here are a couple of sites you can visit. Fighting Foreclosure is looking for honest ways to earn another $900 a month to avoid having the home foreclosed. Her latest post, Book Selling Online,looks to do just that. She is a single-mom and I give her Kudos for not just walking away. She is trying to do the right thing. Take a visit and see if you can offer some suggestions.

Another Blog can be found at Clever Dude. He started in 2006 and likes to share personal finance information based on the lessons he is learning from the misktakes he made. His latest post is a book review, A Million Bucks by 30.?

Neither of these blogs contacted me. I found them during my searches around the web. I hope you enjoy them.

cd :O)

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.

I Just Can Not Believe This

I was reading Dwight’s daily post at WesCorp. And he is commenting on the Unemployment report (not good BTW).

While the initial reaction to the Unemployment Report was one of relief, the fact remains that this was a very ugly report. There was nothing to feel good about. The survey that is used in calcutlating the Unemployment Rate was particularly gloomy. While the teen job sector did adjust from the last month’s faulty seasonal, all other elements deteriorated in the month of June. Here’s a spin one economists put on the number. He said (and I’ll leave him nameless) that at some point soon, many of those unemployed will simply give up looking for jobs. The BLS will then classify them as “discouraged workers”. This means they will no longer be considered unemployed, and that will soften the rise in the Unemployment Rate. In other words, you no longer exist in the eyes of the BLS. What a concept! Now if they can just eliminate the price of oil from memory banks, all will be well.

Does the book 1984 mean anything to you? The Gov’t is messing with inflation, messing with unemployment, etc. Why can’t they just be honest? And I’m not just pointing fingers and the current administration. It seems that politicians in general can’t seem to speak the truth. Just drives me crazy.

Also, I’m working on the newsletter. Trying to round up some positive news. Anybody have any? I hate being so negative. Keep Looking up…