Why invest in 3 month CD'S, just get a Dividend Checking account with First Tech
Let's face it, the return on 3 Month CD's is abysmal, Ally is offering a not-so-great .39%, USAA .45%, and the winner is OneWest Bank coming in at .60%.
If you invest a $1,000 in the top yielding CD's of today, you're going to a return of... wait for it... $6. That's not putting your money to good use.
A friend of mine told me about First Tech Federal Credit Union the other day. I finally got around to taking a look and their rates are pretty impressive. Their Dividend Reward Checking offers a 2.57% annual return (on the first $10k), paid on a monthly basis.
If you crunch the numbers, it's a .63% return in a 3 month period, so it's only slightly higher than a 3 month CD. But the benefits of not having your funds locked up in CD are enormous.
So if you're looking to make the switch to a no-fee checking or savings account, this is a good placec to start. Here are the other benefits of the Dividend Rewards Checking:
Qualified accounts earn a very competitive dividend rate*
Qualified accounts also earn Free ATM surcharge rebates on out-of-network U.S. ATM transactions*
Free overdraft protection from your savings, credit card or home equity line of credit account
Free Online Banking and BillPay
Free e-deposit for qualified members**
Disclaimer: We are not being paid by First Tech to post this article... Although, we probably should be.
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