SYS-CON MEDIA Authors: Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel, Peter Silva

News Feed Item

As CD Rates Remain Stagnant For Third Consecutive Week, Yellen Offers Savers Hope For 2015

TheStreet and RateWatch Report Top National & Regional CD Rate Issuers

NEW YORK, Feb. 11, 2014 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for CD rates of all durations remained unchanged this week as the Federal Reserve has continued to keep the short-term federal funds rate in a range of zero to 0.25% since late 2008.

(Logo: http://photos.prnewswire.com/prnh/20130219/NY62571LOGO )
(Logo: http://photos.prnewswire.com/prnh/20130102/NY35868LOGO-b )

The Federal Open Market Committee has repeatedly said that it would be unlikely to raise the federal funds rate until the U.S. unemployment fell below 6.5%. The Bureau of Labor Statistics last Friday said the unemployment rate declined to 6.6% in January from 6.7% in December. 

"While it would appear the Fed is getting close to its target for raising the federal funds rate, officials have also stated that the federal funds rate is not likely to be raised until the central bank completely winds down its purchases of long-term bonds," reported Philip van Doorn, Senior Banking Analyst for TheStreet.

The FOMC in December announced a cut in monthly pace of Federal Reserve bond purchases from $85 billion to $75 billion, and then in January announced another cut in the monthly purchases to $65 billion. Federal Reserve Chair Janet Yellen during testimony before the House Financial Services Committee on Tuesday said the FOMC was likely to continue cutting the bond purchases in increments of $10 billion at each of its policy meetings during 2014. 

"That means the bond purchases will end in December, and that an increase in the federal funds rate isn't likely until 2015. So savers are likely to wait until next year to see higher interest rates," added van Doorn.

NATIONAL AVERAGE RESULTS - $10K


This

week

Last

week

Money Market

0.10

0.10

1 month CD

0.06

0.06

3 month CD

0.09

0.09

6 month CD

0.14

0.14

1 year CD

0.23

0.23

2 year CD

0.37

0.37

3 year CD

0.51

0.51

4 year CD

0.63

0.63

5 year CD

0.82

0.82

TOP RATE ISSUERS - $10K
This is a list of issuers with top interest rates. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed.

Money Market

Financial

Strength

Rating

Minimum

to Earn

Interest

($)

APY

(%)

First NBC Bank

B-

10000

1.260

504-671-3550

www.firstnbcbank.com

Salem Five Direct

B

1

1.000

800-850-5000

www.salemfivedirect.com

Doral Bank

D-

5000

0.940

212-584-6820

www.doralbankny.com

Sallie Mae Bank

A-

1

0.900

877-346-2756

www.salliemaebank.com

Mercantil Commercebank, National Association

C

10000

0.900

305-460-8701

www.mercantilcb.com

1 Month CD

Financial

Strength

Rating

Minimum

to Earn

Interest

($)

APY

(%)

Beal Bank USA

C+

1000

0.400

702-598-3500

www.bealbank.com

Umbrellabank.com

C-

1000

0.400

866-862-7355

www.umbrellabank.com

Beal Bank, SSB

C-

1000

0.400

619-894-8066

www.bealbank.com

Merchants Bank of Indiana

A-

1

0.350

765-874-2511

www.merchantsbankofindiana.com

Pinnacle Bank

B+

500

0.350

402-454-6515

www.pinnbank.com

3 Month CD

Financial

Strength

Rating

Minimum

to Earn

Interest

($)

APY

(%)

Beal Bank USA

C+

1000

0.510

702-598-3500

www.bealbank.com

Umbrellabank.com

C-

1000

0.510

866-862-7355

www.umbrellabank.com

Institution for Savings In Newburyport

B

1

0.500

978-462-3106

www.institutionforsavings.com

Doral Bank

D-

500

0.500

850-914-2525

www.doralbankflorida.com

Firstbank Florida

D

1000

0.500

305-740-9522

www.firstbankfla.com

6 Month CD

Financial

Strength

Rating

Minimum

to Earn

Interest

($)

APY

(%)

Doral Bank

D-

500

1.000

212-584-6820

www.doralbankny.com

Beal Bank USA

C+

1000

0.750

702-598-3500

www.bealbank.com

GE Capital Bank

A

500

0.700

801-517-5000

www.gecapitalbank.com

Colorado Federal Savings Bank

B-

5000

0.700

877-484-2372

www.coloradofederalbank.com

Discover Bank

C

500

0.650

888-765-6654

www.discoverbank.com

1 Year CD

Financial

Strength

Rating

Minimum

to Earn

Interest

($)

APY

(%)

Doral Bank

D-

500

1.200

212-584-6820

www.doralbankny.com

Beal Bank USA

C+

1000

1.110

786-347-3601

www.bealbank.com

CIT Bank

B+

1000

1.020

801-412-6800

www.bankoncit.com

VirtualBank

B-

10000

1.010

561-776-8860

www.virtualbank.com

GE Capital Bank

A

500

1.000

801-517-5000

www.gecapitalbank.com

2 Year CD

Financial

Strength

Rating

Minimum

to Earn

Interest

($)

APY

(%)

Doral Bank

D-

500

1.450

212-584-6820

www.doralbankny.com

CIT Bank

B+

1000

1.170

801-412-6800

www.bankoncit.com

Barclays Bank Delaware

C+

1

1.150

888-710-8756

www.banking.barclaysus.com

GE Capital Bank

A

500

1.150

801-517-5000

www.gecapitalbank.com

Guaranty Bond Bank, National Association

B+

1000

1.150

903-572-9881

www.gnty.com

3 Year CD

Financial

Strength

Rating

Minimum

to Earn

Interest

($)

APY

(%)

Northern Bank & Trust Company

C+

500

1.600

781-937-5423

www.nbtc.com

Doral Bank

D-

500

1.600

212-584-6820

www.doralbankny.com

Oritani Savings Bank

B+

1000

1.500

201-664-5400

www.oritani.com

Intervest National Bank

C-

2500

1.450

212-218-8383

www.intervestnatbank.com

Community Bank

C-

1000

1.400

800-239-9427

www.dodcommunitybank.com

4 Year CD

Financial

Strength

Rating

Minimum

to Earn

Interest

($)

APY

(%)

Institution for Savings In Newburyport

B

1

2.000

978-462-3106

www.institutionforsavings.com

Oritani Savings Bank

B+

1000

1.750

201-664-5400

www.oritani.com

Nationwide Bank

B

10000

1.670

877-422-6569

www.nationwide.com

Barclays Bank Delaware

C+

1

1.650

888-710-8756

www.banking.barclaysus.com

Doral Bank

D-

500

1.650

212-584-6820

www.doralbankny.com

5 Year CD

Financial

Strength

Rating

Minimum

to Earn

Interest

($)

APY

(%)

Barclays Bank Delaware

C+

1

2.150

888-710-8756

www.banking.barclaysus.com

iGObanking.com

C+

1000

2.150

888-432-5890

www.igobanking.com

Flushing Commercial Bank

C+

5000

2.150

718-512-2929

www.flushingbank.com

EverBank

C+

1500

2.120

888-882-3837

www.everbank.com

Dime Savings Bank of Williamsburgh

B-

500

2.100

718-782-6200

www.dsbwdirect.com

 Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak, U=Unrated  

                                                Plus sign "+" = top of range, Minus sign "-" = bottom of range

Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 96,000 financial institution locations across the United States.

About RateWatch
For over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States. Consistently providing top quality, highly relevant data RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 96,000 locations. Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available. To learn more about RateWatch, visit www.rate-watch.com. RateWatch is a division of TheStreet, Inc.

About TheStreet
TheStreet, Inc. (www.t.st) is the leading independent digital financial media company providing business and financial news, investing ideas and analysis to personal and institutional investors worldwide. The Company's portfolio of business and personal finance brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, MainStreet and RateWatch. To learn more, visit www.thestreet.com. The Deal, the Company's institutional business, provides intraday coverage of mergers and acquisitions and all other changes in corporate control. To learn more, visit www.thedeal.com.

Contact:

Emily Schneider
TheStreet, Inc.
212-321-5521
[email protected]

Joe Deaux
TheStreet, Inc.
212-321-5086
[email protected]

SOURCE TheStreet, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Media announced today that Skytap blog on "DevOps Journal" exceeded 84,000 story reads. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Noel Wurst is the managing content editor at Skytap. Skytap provides SaaS-based dev/test environments to the enterprise. Skytap solution removes the inefficiencies and constraints that comp...
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then we took the concept a step further, giving it a beautiful interface and making it simple enough for our bosses to understand. We named it GuardRail after its function - to allow businesses to move fast and stay sa...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting an...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...