61 replies to this topic

[mnl8844]

i never heard of emigrant-direct. is this a new bank?

[markber]

i never heard of emigrant-direct. is this a new bank?

EmigrantDirect.com is a new online branch of an old bank, Emigrant Savings Bank. I reposted a story about this bank below:

"
Emigrant Savings Launches Internet Savings With EmigrantDirect
Wednesday January 5, 12:39 pm ET
One of New York's most venerable savings banks is 'branching' out over the internet to offer new depositors the highest rate in the country


NEW YORK, Jan. 5 /PRNewswire/ -- Emigrant Savings Bank, one of America's most venerable savings institutions, has announced the opening of EmigrantDirect.com, a new division of Emigrant, offering depositors across the country the highest interest rate in America, 3% on their money, in the bank's new Internet "American Dream" Savings Account. The announcement was made by Emigrant Savings Bank Vice-Chairman for Banking, James Woolsey. Beginning this week, the American Dream Savings Account will not only offer consumers 3%, the highest nationally advertised rate on FDIC insured savings, but will eliminate all account fees and require no minimums.

Founded in 1850 to serve the needs of a growing America and a dynamic immigrant population, Emigrant has served generations of new Americans who came to America seeking a "better way of life" for themselves and their families. By the 1920's, Emigrant was the largest savings bank in the nation with nearly $3 billion in assets. Today the bank has more than $10 billion in assets supported by more than $1 billion in shareholder equity, giving it the strongest balance sheet in the nation. The announcement of EmigrantDirect.com follows a deliberate Internet strategy that allows the bank to provide the highest interest rates available to depositors across the country, by eliminating the infrastructure and marketing costs of local branches for those who don't need them.

However, Mr. Woolsey noted that while every American now has the option of turning to EmigrantDirect.com for the nation's highest savings rates, the bank remains proud of its New York heritage. "With some 36 branches throughout New York City's five boroughs and its suburbs, we have played an important role in helping to finance the homes and education of millions of New Yorkers. This historic bank has also helped finance such New York landmarks as the construction of Central Park and St. Patrick's Cathedral."

Today's announcement does not alter that commitment to New York but it does permit Emigrant to take its philosophy nationwide to customers, some of whose parents or grandparents may have been Emigrant customers and have watched the bank grow from strength to strength. Emigrant's offering is aimed at people who want their dollars in a solid and respected institution that has protected its depositor's money through both good and bad economic times.

"Traditional borders are gone. Yet the tradition of Emigrant Savings Bank as a strong and robust haven for personal savings is now available to every American through EmigrantDirect.com, especially for those who seek to take advantage of a 3% return on their savings with FDIC insurance. The American Dream Savings Account is our latest product designed to help our customers and their families achieve that 'better way of life' which is the American dream," concluded Mr. Woolsey.

source:

http://biz.yahoo.com...5/nyw151_1.html

[zoom]

Western Financial has joined the 3% club on money markets

http://www.wfb.com/

My old standby's ING and Virtual can't seem to compete

[lucille99]

VirtualBank is now paying 3.05% for accounts with balances less than $10,000 which is good for me because I have less. If I were to have more than $10,000 then I would get 3.00% which is still good.

[keller2650]

PULASKI BANK AND TRUST COMPANY LITTLE ROCK, ARKANSAS

Pays 4% on Market Watch Savings account with two withdrawls/month and 4.25% if you open a checking account with the savings account. Minimum deposit is $1k and make withdrawls thru ACH.

[cinnabar48]

PULASKI BANK AND TRUST COMPANY LITTLE ROCK, ARKANSAS

Pays 4% on Market Watch Savings account with two withdrawls/month and 4.25% if you open a checking account with the savings account.  Minimum deposit is $1k and make withdrawls thru ACH.

is www.pulaskibank the right web site ? no details available at this site

according to this website http://goliath.ecnex...owse_CI_6022-13
the www.pulaskibank is correct
any details on the offer ? no details on rates are given on the pulaski web stie - looks like th site of a very sleepy small town bank, completely unsuited to handling large amounts if internet traffic and internet customers

[doglar]

PULASKI BANK AND TRUST COMPANY LITTLE ROCK, ARKANSAS

Pays 4% on Market Watch Savings account with two withdrawls/month and 4.25% if you open a checking account with the savings account.  Minimum deposit is $1k and make withdrawls thru ACH.

I also could not find anything on their website or the web about this account. I am guessing this is not open to non Arkansas / TN residents and not to onliners....there is definitely no online application for an account.

Also. Patelco is at 3.75% APY ... they have their APY in the left column and their APR in the right column on their site.

I also could not find anything on the lockheed FCU or the web on a "money tree market account" , perhaps it is discontinued or not available to the general public.

[markber]

I also could not find anything on the lockheed FCU or the web   on a "money tree market account" , perhaps it is discontinued or not available to the general public.

You have to call the CU Membership Services in order to open this account.

[markber]

PULASKI BANK AND TRUST COMPANY LITTLE ROCK, ARKANSAS

Pays 4% on Market Watch Savings account with two withdrawls/month and 4.25% if you open a checking account with the savings account.  Minimum deposit is $1k and make withdrawls thru ACH.

is www.pulaskibank the right web site ? no details available at this site

according to this website http://goliath.ecnex...owse_CI_6022-13
the www.pulaskibank is correct
any details on the offer ? no details on rates are given on the pulaski web stie - looks like th site of a very sleepy small town bank, completely unsuited to handling large amounts if internet traffic and internet customers

The website address seems to be correct. I think you would have to call the bank to find out more details because they do not list their rates on the website.

[jrr7]

Here's one you don't have listed:

GMAC DemandNotes.

www.demandnotes.com

4.25% APY

They are *not* federally insured.

[markber]

Here's one you don't have listed:

GMAC DemandNotes.

www.demandnotes.com

4.25% APY

They are *not* federally insured.

Thanks! I added them to the list. GMAC website mentions that "Demand Notes is designed to offer eligible GM family members a convenient means of investing funds directly with GMAC." Do I understand correctly that people who do not work for GM or do not have GM employees among their relatives are not eligible to purchase the Notes?

Thanks,

Mark

[jrr7]

GMAC website mentions that "Demand Notes is designed to offer eligible GM family members a convenient means of investing funds directly with GMAC." Do I understand correctly that people who do not work for GM or do not have GM employees among their relatives are not eligible to purchase the Notes?

Here's the info from the DemandNotes website.

Who is eligible to invest in GMAC Demand Notes?
Demand Notes is available to employees and retirees of General Motors/GMAC and their subsidiaries and their immediate family members (spouse, children, siblings, parents and grandparents), GM Dealers and their employees, GM Stockholders and GM Suppliers/Vendors and their employees.

I don't know if it counts if you own GM stock through a mutual fund, or if you actually have to personally own GM shares.

My company sold some stuff to GMAC once, so I am eligible.

[scottjm]

Eastern bank 4% Money Market with min of 10,000. Rate guaranteed through 3/31/06
Nice for me as local bank and I allready have accounts there



1 Annual Percentage Yield (APY) is based on average daily balance of $10,000 or more. For balances less than $10,000: 0.50% APY applies. A minimum of three Select Checking transactions per statement cycle required to earn Maximum Money Market Account (MMMA) APYs. APYs quoted are accurate as of 9/12/05 and are guaranteed through 3/31/06, thereafter rates are subject to change. Minimum of $10,000 in non-Eastern Bank funds required to open MMMA; deposits limited to $250,000. Certain transaction limits apply. Fees may reduce earnings. Select Checking Account with $50 opening deposit required. Three months from Select Checking account opening, a $5,000 combined balance among designated accounts required to avoid monthly service charge. Personal accounts and MA residents only.

[aelred]

Emigrant Direct bumped their rate to 4.0% today

[scottjm]

Woopie I also have Emigrant . With Fed not taking a Katrina break today and signaling further hikes ahead looks like we will see more banks going up. Great time to be liquid