![]() Sun East Federal Credit Union: This credit union is offering its members a high 5.75% APY for 11-month CDs with minimum deposits of $100,000.Take these three, for example, which in the past seven days have boosted their CD offerings to 5.75% APY, ranking them as some of the highest available rate for CDs on the market today: In the weeks before today’s action, some financial institutions already started increasing their rates. See some of the highest-paying savings accounts here, and some some of the highest-paying CDs here. “The top-yielding savings accounts and certificates of deposit (CDs) are at a 15-year high,” says Greg McBride of Bankrate. So, for example, if your bank currently pays 4.00% interest and the Fed raises rates by 0.25%, your bank might raise their interest rate to 4.10% or 4.15%.” What are some of the best-paying savings and CDs now?Ĭonsumers have already been seeing high rates on many high-yield savings accounts and CDs. “As a result, for each 25 basis points rate hike, online banks typically pass along 10 to 15 basis points of the increase to their depositors. “By contrast, online banks are growing and are looking for more deposits,” he says. Because brick-and-mortar banks often already have more deposits than they can lend, they don’t have much incentive to attract more deposits, Zimmerman explains. But this doesn’t mean that all savings and CDs are going to raise rates. 298 or go to the Fed raises rates, banks typically increase borrowing costs by a corresponding amount (which helps cool the economy), but they pass on only a portion of the rate increase to depositors in the form of higher interest rates on savings accounts,” MaxMyInterest CEO Gary Zimmerman explains, adding that “this enables banks to earn more profit in higher rate environments - and earn less profit when interest rates are low.”Īs a result of the Fed’s increase, just like with interest rate hikes in the past, many online banks and credit unions may start to increase both CD and high-yield savings account deposit rates and incentives. For more information about membership at Signal Financial FCU, please call 30, ext. Certain family members and businesses (including their employees) are also eligible to join the credit union. It operates eight full-service branch offices in the Metropolitan area, and serves over 200 sponsor organizations, in addition to individuals who live, work, worship or attend school in DC or in Prince George’s County, MD (inside the beltway). They will help strengthen the foundation on which the Credit Union will stand for many years to come.”Įstablished in 1947, Signal Financial FCU currently has assets of $326 million and 26,000 members. They are all accomplished in their individual areas, bringing business acumen and decades of experience in the Washington Metro area. ![]() President/CEO Francois Verleysen commented, “We are very excited to have these dynamic individuals join our growing leadership team. Most recently, he was the lead home lending facilitator for Everbank in Jacksonville, Florida. Bill’s experience spans more than 22 years, with success in both sales and leadership training facilitation, instructional design, business consultation and regional management for both commercial banks and credit unions. ![]() William Kowall has joined Signal as Vice President Branch Administration. He was recently the Senior Vice President of Commercial Lending for CU Strategic Partners, a CUSO of the United States Senate Federal Credit Union. He was recently the Senior Vice President and Chief Lending Officer at NIH Federal Credit Union.ĭennis Dunn has joined Signal as Senior Vice President of Business Services. Dennis has over 20 years of experience in the commercial and consumer lending areas for both credit unions and commercial banks. Christopher brings over 20 years of experience in mortgage and consumer lending for both credit unions and commercial banks. He oversees both Consumer lending and Mortgages. ![]() Selena has over 20 years of financial services, mortgage and sales experience at Bank of America and Capital One, where she was the Learning & Development Client Manager, Mortgage Sales and Operations.Ĭhristopher Ercole has joined Signal as Senior Vice President of Consumer & Real Estate Lending. Selena Hourihan has joined Signal as Senior Vice President of Operations and is responsible for Deposit Operations, Member Services, Call Center, Card Services and Collections. KENSINGTON, MD (April 27, 2015) - In an effort to further achieve organizational growth, Signal Financial FCU is pleased to announce the recent hiring of the following individuals to its leadership team: Signal Financial FCU announces Leadership Team expansion ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |