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FirstBank Surprises Longtime Customers on 70th Wedding Anniversary

Posted by Brad Krebs on August 28, 2018 at 4:30pm

File this under “stories that will make you smile.” FirstBank, Colorado’s second largest bank and one of the nation’s largest privately held banks, recently undertook a mission to surprise and celebrate a pair of longtime customers at their Longmont location. The customers, Don and Lois, were invited into the branch on their 70th wedding anniversary, and when they arrived, it was to fanfare they couldn’t have imagined.

The bank staff, many of whom have become like family to Don and Lois over the 40 years they’ve been customers, greeted the couple at the door to wish them a happy anniversary and kick-off the festivities. A framed wedding portrait and a gift box loaded with everything from travel mugs to local honey awaited the lovebirds.

But the celebration didn’t stop there. A stretch limo, complete with Don and Lois’ friends and family, whisked the happy couple off for an unforgettable dinner at the Boulder Cork restaurant. “Can you believe this?” Don asked his wife. “No, I’m dreaming,” Lois responded.

Don and Lois’ special night was one of many Good Customer surprises planned by the bank. FirstBank says the campaign is all about celebrating some of the exceptional people they are proud to call customers.

Check out the video to see more of the 70th-anniversary surprise:

Denver-Based Credit Union Launches Kasasa®, Changes the Face of Local Banking

Posted by Crystal T on March 4, 2011 at 10:00am

Rocky Mountain Law Enforcement Federal Credit Union asks consumers, “Do you Kasasa?” as it becomes the first financial institution in Colorado to launch the country’s most innovative financial products, offered exclusively for law enforcement professionals and their families.

Kasasa^® is a new brand of free checking and savings accounts that pays consumers to use their account with what interests them most—high interest. These accounts, combined with the personal service that only community financial institutions can deliver, are offering law enforcement professionals a better checking account option than the mega bank experience.

“Consumers deserve to wake up to happier days of banking and leave behind the nightmare of mega bank fees and mistreatment. We are pleased to be the first financial institution in the state of Colorado to offer these unique products,” said Christine Wiley, CEO at Rocky Mountain Law Enforcement FCU. “Kasasa delivers what research shows people really want but believe they can’t have—great financial products with the personal service of a community based financial institution.”

Rocky Mountain Law Enforcement FCU is offering its law enforcement professional membership base Kasasa Cash™. All Kasasa products are free accounts, with no minimum balance, no monthly fees, free online banking and nationwide ATM fee refunds.

Kasasa Cash - A free checking account that pays high interest in cash every month.

To receive the Kasasa account benefits, account holders are asked to meet easy monthly qualifications including receiving an e-statement, using a debit card and making an electronic transaction (such as direct deposit). If an account holder does not meet the qualifications in a given month, the credit union will alert the individual, who will be eligible the following month for the benefits.

“Extensive research has shown us that consumers would prefer to do business with community financial institutions, but feel they would lose access to products,” continued Wiley. “Kasasa is opening people’s eyes to a new banking model where no sacrifices are necessary. It’s a win-win because account holders get innovative products and personalized service.”

In 2009, Kasasa was piloted in six other markets across the U.S. In just the first two months of offering Kasasa, participating community financial institutions reported growth rates upwards of 150% on new account openings and 372% in deposits at institutions focused on deposit growth.

Kasasa is being introduced with an aggressive, highly engaging marketing campaign. It comes to life through a fresh mix of eye-popping advertising, the likes of which exceed the typical mega bank’s high-budget programs. The ads feature America’s top slam poets https://www.kasasa.com/news-and-media/advertising riffing lyrical threads around the theme of “Do you Kasasa?”

Kasasa is distributed to Rocky Mountain Law Enforcement FCU from BancVue, the leading provider of innovative products, dynamic marketing, and data-driven consulting solutions to community financial institutions nationwide to help them win the war against the mega banks.

For more information on Kasasa accounts, consumers can visit www.rmlefcu.org or www.kasasa.com/RMLEFCU.

New Short Sale Solution Simplifies Process for Real Estate Agents and Their Clients

Posted by Crystal Thomas on October 15, 2010 at 12:00pm

Claremont Information Systems, a leading provider of distressed real estate data and analytics, today launched ShortSaleProLogic.com, the industry’s first short sale solution designed specifically for real estate brokers and agents to create efficiency in identifying, tracking, and closing short sales.

Demand for a simplified and effective short sale process has intensified with the backlog of properties between Notice of Default and Trustee Sale growing exponentially. Potential for the so-called “foreclosure mess” to become full-blown chaos only accelerated last week with Bank of America’s announcement of a nationwide moratorium on foreclosures and sales of foreclosed property.
Short Sale ProLogic was designed to simplify the short sale process and help sellers avoid foreclosure by connecting real estate agents to customized distressed real estate information in real time. The speed and granularity of Short Sale ProLogic’s information represents a complete consultative and closing tool for real estate professionals, whether they’re looking to offer short-sale counsel to potential sellers or present short-sale opportunities to potential buyers.

Built specifically for real estate agents, Short Sale ProLogic represents a comprehensive short sale solution to assist Realtors® across the entire short sale process, including:

• Short Sale Lead Identification—Short Sale ProLogic provides over fifty ways to define a market search, including neighborhood, county, zip code, and property value. Users are alerted by text or e-mail as soon as a Notice of Default is recorded against a property that fits their customized search profile.
• Competitive Market Analysis—The ProLogic Market Report™ completes the story traditional MLS data miss. Short Sale ProLogic provides exclusive access to pre-foreclosures, investor purchases at foreclosure sales, and unlisted bank owned properties in a report format that simply can’t be find anywhere else.
• Effective Short Sale Transaction Management—Short Sale ProLogic, in partnership with PMH Financial, provides an industrial-grade negotiation and transaction management platform that busy Realtors need to get short sales closed. The highly trained and experienced negotiating team, with a proven track record of closing more than 75% of its deals, increases the likelihood of a successful short sale transaction.

“I’ve been at this for a long time, and I know if I’m to stay relevant in this marketplace I have to become a short sale expert,” says Yan Kaminski, a ShortSaleProLogic.com beta client. “Short Sale ProLogic not only helps me get the listing, it helps me get it sold. They’re actually making it easier for me to complete deals so I have the time to find new ones.”
In Colorado, Short Sale ProLogic data covers eight-counties across the Front Range, including Weld and El Paso counties.

Short Sale ProLogic’s data shows that in Denver County alone there have been 3,825 foreclosure filings this year, with 448 being reported in September. And with 12,674 properties in the Metro area foreclosure process and another 4,000 new filings a month being added to the pipeline statewide, there is a tremendous opportunity for Realtors who are able to work smart and streamline the short sale process.

“Short Sale ProLogic was designed to provide a real advantage for Realtors to grow their listing base and present short-sale opportunities to buyers,” says Ryan Lantz, Co-Founder and Managing Director of Claremont Information Systems. “With millions of dollars worth of distressed property entering the market every month in Colorado, the ability to identify and close short sales will put any real estate professional way out in front of the competition.”
Short Sale ProLogic’s ActiveTrack Technology™ stays in constant contact with thousands of properties and notifies subscribers by text or e-mail within minutes of a Notice of Default being recorded in areas defined by the user.

“One of the fundamental building blocks to what we do is strict adherence to extremely accurate and impossibly current information,” says Lantz. “Good opportunities move fast, and the information our clients rely on needs to move faster.”

ShortSale ProLogic, including its robust market reports and a highly skilled negotiation and transaction management service, is available for $49.95 per month. For more information, visit www.shortsaleprologic.com.

White Paper from Gravity Investments Challenges the Efficient Frontier

Posted by Crystal Thomas on October 1, 2009 at 11:25pm

Firm’s Research Concludes That Optimizing for Diversification Outperforms Traditional Risk ApproachGravity Investments (Gravity), a premier financial engineering firm responsible for the Gsphere visual asset allocation platform, today issued a paper on portfolio optimization and the comparative value of optimizing specifically for diversification.The paper, entitled How True Diversification™ Preserves Capital, concluded that optimizing portfolios for diversification provides a positive impact to bear market returns at entirely no cost to bull market returns, resulting in dramatically better performance across a full market cycle. Diversification, not risk, is thus warranted according to Gravity as the focus of portfolio optimization for asset allocation.“We’ve known for some time that True Diversification is a primary enabler of achieving higher returns,” said James Damschroder, Founder of Gravity Investments and the firm’s chief financial engineer. “Now we know precisely why. With True Diversification, there really is such a thing as a free lunch.”Gravity conducted research on 95 actual Registered Investment Advisor portfolios in place between the years 2002 and 2009. The firm examined the portfolios across three time periods--bull market, bear market, and the full cycle, grading each portfolio--using Gravity’s proprietary diversification measurement.IPC, Gravity’s patented measurement of diversification, produces the weighted average of all unique correlations in a portfolio and provides a measurement of diversification specifically tuned to systematic risk. Gravity calls this advancement in the science of diversification measurement and optimization “True Diversification”.The results of Gravity’s research indicated that every extra percent of IPC was responsible for protecting 98 basis points of capital in a down market. By comparison, similar changes in standard deviation showed a much weaker relationship to returns in both bull and bear markets.“Based on these results, it’s reasonable to infer that the traditional practice of using a Markowitz efficient frontier as a menu of portfolios may be of dubious merit,” says Damschroder. “It’s hard to argue the logic of True Diversification when it protects capital in down markets without sacrificing gains in up markets.”Gravity’s innovative approach to portfolio construction will benefit virtually every sponsor of investment product, including broker/dealers, RIAs, insurance companies, mutual fund companies, hedge funds, pension plans, bank trust groups, 401(k) providers, fund consultants, family offices, foundations, and endowments.

“Switch Kit” Helps Americans Get Out of Unhealthy Banking Relationships

Posted by Erik Keith on June 9, 2009 at 4:52pm

According to a new study by BancVue, almost two in five Americans are unable to classify their current bank as “Mr. or Ms. Right”, with dissatisfaction higher among those with most of their money in large banks. In fact, almost one in two (49%) of big bank customers claim their current bank is far from “the one”. To help people “break up” with Mr. /Ms. Wrong, CheckingFinder.com has launched the Switch Kit, designed to make it effortless to switch to a high interest, free checking account with no minimum balance, no monthly fees and nationwide ATM fee refunds. “CheckingFinder.com’s Switch Kit makes breaking up with an unhealthy banking relationship hassle-free,” says Gabe Krajicek, Chief Executive Officer of BancVue, the creators of CheckingFinder.com. “And, banking customers end up with better products with the better service of a community financial institution.” But how do you know if you are in an unhealthy banking relationship? Mr. Krajicek suggests consumers ask themselves the “Six Simple Questions You Can Bank On”: 1. Does your bank treat you like a number? 2. Do you feel that you are getting as much out of the relationship as the bank is? 3. Fairness in banking tends to show itself in the form of fees. Does your bank over-charge you on fees? 4. Do you have open communication? In other words, does your bank keep you informed about your existing accounts or better opportunities? 5. Does your bank show you appreciation for entrusting your money with them? 6. Is your bank well run and stable? Check out the “Statement of Condition” to get a snapshot of its health. The answers to these questions can help determine if breaking up from a banking relationship makes sense. Interestingly, two-thirds (67%) of bank account-holding Americans admit they wouldn’t hesitate to consider breaking up with their bank, with 75% with most of their money in big banks. And, what they are looking for in their Mr. or Ms. Right bank: less fees (39%), higher interest rates (32%), better banking products (29%) and ATM refunds (29%). CheckingFinder.com, the one-stop-shop for the best high-yield checking accounts among community banks and credit unions, not only allows you to find an open a free, high interest checking account in minutes, but has developed a tool to make the break up go smoothly—The Switch Kit. The Switch Kit makes switching to a new account painless, with detailed instructions for transferring direct deposits, automatic payments, online bill payments and closing the preexisting account. The Switch Kit also provides downloadable direct deposit and auto-payment forms, making the switch hassle free. The accounts on CheckingFinder.com give customers free checking accounts with CD-like yields, no monthly fees and nationwide ATM fee refunds when they do simple activities, including accepting eStatements, utilizing direct deposit, accessing online banking, and using their debit card. All of these things help save the financial institutions money, and unlike the big banks that keep it for themselves, these financial institutions are returning the savings to their account holders in the form of higher yields. “Breaking up may seem tough at first, but with the right tools, such as CheckingFinder.com and The Switch Kit the perfect bank mate is only a click away,” concludes Krajicek.

New Survey Reveals Two In Three Could Easily “Break Up” With Their Current Bank

Posted by Erik Keith on May 28, 2009 at 11:30am

The most fundamental of American’s money relationships are with their banks, where a new study finds almost two in five Americans are unable to classify their current bank as “Mr. or Ms. Right,” with dissatisfaction higher among younger adults and those with most of their money in large banks.“Some relationships can lead in unhealthy directions without us even realizing it. The sad thing is, once it’s over you realize you should have packed up and left months ago,” said Gabe Krajicek, Chief Executive Officer of BancVue, the company that sponsored the research. “Unfortunately in the case of banking relationships, people don’t believe that there is a financial institution that can offer them what they really want—great products and great service—leading to paralysis.”Paralysis is of particular note among bank account holders with most of their money in large banks, such as Wells Fargo and Bank of America. Almost one in two (49%) big bank customers claim their current bank is far from “the one.” They’re more likely to see their banks as partners who are uncommitted or clingy. This dissatisfaction is also high among Americans ages 18-29, nearly half (45%) of which say they have yet to find their Mr. or Ms. Right of financial institutions.What is most telling, however, is that two-thirds (67%) of bank account-holding Americans admit they wouldn’t hesitate to consider a new banking relationship. This was confirmed by a recent J.D. Power and Associates 2009 Retail Banking Satisfaction Study which found that only 35 percent of customers are highly committed to their retail bank in 2009, compared with 37 percent in 2008 and 41 percent in 2007. This marks a two-year decline of 6 percentage points in customer commitment since the 2007 study. Again, according to the BancVue study, Americans with most of their money in large banks are antsy for a change – three in four (75%) would be willing to make a change, vs. 60 percent of those with their funds elsewhere.“Apparently, bigger isn’t better,” continued Krajicek. “With 70% of Americans’ deposits sitting in big banks, it may be time for people to heed the warning signs of their unhealthy relationship.”So what would make Americans break up with their banks? Just a few slight improvements, it seems. Less fees (39%) and higher interest rates (32%) top the list, with better banking products (29%) and ATM refunds (29%) also in demand.“Americans are fishing in the wrong pond. Mr./Ms. Right may actually be the guy or girl that has been right in front of you—the one you take for granted when you pass them each day,” says Krajicek. “And, in banking vernacular, Mr./Ms. Right is community financial institutions.”Selected community banks and credit unions are now meeting American’s banking dream of a perfect financial mate by providing the customer-centric service they are known for and offering a product that doesn’t just take, but gives back. Customers receive a free checking accounts with CD-like yields, no monthly fees and nationwide ATM fee refunds when they do simple activities, including accepting eStatements, utilizing direct deposit, accessing online banking, and increasing their debit card usage. All of these things help save the financial institutions money, and unlike the big banks that keep it for themselves, these financial institutions are returning to their account holders in the form of higher yields.www.CheckingFinder.com provides consumers a one-stop-shop for the best high-yield checking accounts among community banks and credit unions. The site enables consumers to search for a free, high-yield account by rate, distance from their home, and best annual return based on average account balance and ATM usage and then open the account online.“Now, those discontent with their banking relationship don’t have an excuse not to ‘break up’ with their bank,” concludes Krajicek.About BancVueBancVue is the leading provider of innovative products, marketing, and consulting solutions to community financial institutions nationwide. Serving over 600 community banks and credit unions around the country, BancVue’s solutions allow these institutions to compete and win in the war against the mega banks and net banks. Consumers benefit from the development and implementation of BancVue’s innovative products, including REWARDChecking®, a free high-yield checking account specifically designed for community banks and credit unions. For more information on BancVue, visit www.bancvue.com.MethodologyThe BancVue Survey was conducted by Kelton Research between April 14th and April 21st, 2009 using an email invitation and an online survey. 924 American bank account holders ages 18 and over responded to the survey. Quotas are set to ensure reliable and accurate representation of the U.S. population ages 18 and over. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. In this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.

Consumer’s Interest High at Community Banks

Posted by Erik Keith on December 22, 2008 at 2:30pm

It took $4 gasoline to get folks to think about their driving habits. Similarly, it looks like a meltdown of the megabanks and other financial institutions is prompting consumers to think about where they are putting their money, who they can trust and what results they should expect. And much of their hard earned cash is flowing into deposits at community banks:• According to the FDIC, banks with less than $10 billion in assets, community banks, have seen an increase in deposit growth this year from a minus 0.77% in Q1 to a positive 2.06% in Q3. Larger banks witnessed a 3.81% decline in growth of deposits for the same period.• The Federal Reserve reported that October deposits and lending at community banks outpaced the overall industry. Between October 1 and October 22, community banks saw deposits rise 1.1 percent, or nearly $27 billion, to more than $2.4 trillion. For the same period, the nation’s 30 largest U.S. chartered banks saw $44 billion, or 1.2 percent of deposits, walk out the door, leaving them with less than $3.8 trillion.• REWARDChecking, a free checking account offered by more than 450 community financial institutions across the country, reported a 96% jump in deposits in the third quarter of this year.“Through products like REWARDChecking, community financial institutions are winning back customers from the faltering megabanks and investment houses,” said Don Shafer, Chairman of BancVue, a leading provider of products and consulting to community banking institutions. “Americans are indicating that they enjoy investing their money locally, and they benefit from high yields, fiscal safety and customer service.”Higher yields on short term deposits like those found on CheckingFinder.com are certainly fueling interest in community banks. Month-to-month applications on CheckingFinder.com (https://www.checkingfinder.com/), a website that connects consumers with community financial institutions offering high-yield checking accounts, jumped 14% from July to August, 46% from August to September, and 53% from September to October. A small sampling of applicants on the site indicated nearly seven out of 10 were moving their funds to community financial institutions from large banks.Examples of the yields found at community banks compared to those higher yielding shorter term deposits at megabanks (as of December 15) includes:COMMUNITY BANKS YIELDS PRODUCTSCommunity Bank of Pleasant Hill, MO; 6.10%; High-yield CheckingFirst Robinson Bank, IL; 6.01%; High-yield CheckingLegence Bank, IL; 6.01%; High-yield CheckingCommunity Bank of Raymore, MO; 6.01%; High-yield CheckingThree Rivers FCU, IN; 6.01%; High-yield CheckingFlorida Central Credit Union, FL; 6.01%; High-yield CheckingUnion State Bank/Bank of Atchison, KS; 6.01%; High-yield CheckingBank of Granite, NC; 6.00%; High-yield CheckingMEGABANKSWAMU; 5.00%; CD (5 years)eLoan; 4.75%; CD (6 years)Schwab; 3.60%; CD (18 months)ING; 3.75%; CD (1 year)HSBC; 3.50%; CD (1 year)Countrywide (BofA); 3.10%; CD (9 months)eTRADE; 2.25%; CD (12 month)“Three years ago the issue of 'how secure is my money?' was literally not on the consumer’s radar; today, the future viability of the nation’s largest banks is,” continued Shafer. “Not so with community banking, a system that has endeared trust by its roots and not by its branches.”

Analysis Shows Megabanks Have 23,000 Times More Exposure to Credit Default Swaps than Community Banks

Posted by Erik Keith on March 25, 2009 at 3:57pm

Healthy Community Banks Unfairly Impacted and Consumers Should Heed Wake-Up CallAs the economic crisis puts a spotlight on the obscure world of credit default swaps (CDS), an unregulated $62 trillion market that most people never heard of and even fewer understood, the fear of a CDS catastrophe is haunting the country’s largest banks, and the nation’s healthy community institutions and consumers are paying the price.An analysis of FDIC data as of 12/2008 conducted by BancVue (www.bancvue.com), a leading provider of products and consulting to community banking institutions, shows that commercial banks $10 billion or larger have just over $24 worth of credit derivatives for each dollar of equity. By comparison, the rest of the industry has essentially one-tenth of a penny of CDS for each dollar of equity. Those numbers translate to the big banks having roughly 23,000 times as much credit derivative exposure versus all other community financial institutions.This comes at a time when megabanks are already reeling from write-downs on mortgage-related securities. "These are the same institutions that themselves have either directly or through subsidiaries invested in the subprime market," said Don Shafer, Chairman of BancVue. “After suffering losses all over the place, the megabanks are now waiting for the next shoe to drop. In the meantime, it’s placing an undue burden on healthy small banks and should serve as a wake-up call to consumers.”Since the mortgage-backed securities that many swaps were supporting began to lose value in 2007, investors have feared that the swaps, originally meant as a hedge against risk, could suddenly become huge liabilities. While the CDS marketplace is completely unregulated and the swaps trade without a central clearinghouse, it’s known that commercial banks are among the most active participants. According to the Comptroller of the Currency, JP Morgan Chase, Citibank, Bank of America, and Wachovia were ranked the top four most active players.In February, federal regulators facing a cascade of bank failures depleting the deposit insurance fund raised the fees paid by U.S. financial institutions. Although the FDIC intended on charging more from higher risk banks, they also suggested levying a hefty emergency premium in a bid to collect $27 billion this year. The higher premiums being assessed were originally set for 20 cents for every $100 of insured deposits levied equally on the 8,305 federally insured institutions. To put that in perspective, for a $250 million dollar community bank, the “one time tax” would constitute a $500,000 hit, which could wipe out 20% to 40% of a bank’s annual profits. At the Independent Community Banking Association Convention last week, FDIC Chairman Sheila Bair predicted that the assessment will probably be lower. She went on to say that the FDIC is seeking comments on whether the agency should use total assets or some other base for the special assessment, which would have consequences for how the burden is distributed.“How about basing part of the assessment on the amount of credit derivatives a bank holds compared to their equity?” continues Shafer, referencing BancVue’s research showing the extraordinary exposure to CDSs of the megabanks versus the community financial institutions. “If you are going to unfairly burden smaller banks that played by the rules, the least the FDIC can do is base the levy on the banks that helped trigger the crisis.”Even amidst this threat and turmoil among the megabanks, consumers are still trusting more than 70% of deposits in the U.S. to these large financial institutions. “Americans appear to be paralyzed in their banking relationship leaving so much of their hard earned cash in TARP and CDS-laden megabanks. It’s time for consumers to wake up and evaluate their banking options, particularly when community banks offer a less risky deposit alternative with better products and services,” concludes Shafer.

Consumers to Get Dave Ramsey Financial Advice With High Yield Checking

Posted by Erik Keith on March 20, 2009 at 2:23pm

With the economy and investment opportunities slimming, consumers are looking for alternative, safe avenues for storing their money other than their mattress. CheckingFinder.com, home to the highest yielding free checking accounts at community banks and credit unions across the nation, has announced a limited time offer of a trial membership to Dave Ramsey's MyTotalMoneyMakeover.com for every person who submits an application.In addition to the advice and tools from Dave Ramsey, a personal money management expert and best-selling author, consumers will find checking accounts yielding up to 5.15% APY and be able to open them within minutes on CheckingFinder.com."Dave Ramsey is renowned for offering life-changing financial advice on his nationally syndicated radio talk show and in his books, and we're proud to be able to offer his MyTotalMoneyMakeover.com, especially during these tough economic times," said Gabe Krajicek, Chief Executive Officer of BancVue, the company responsible for providing high-yield REWARDChecking® to community financial institutions and aggregating them with the help of marketing partner, FIRST ROI on CheckingFinder.com.CheckingFinder.com is an online search engine that helps consumers find free, high-interest checking accounts with no minimum balance from community financial institutions across the country. Consumers have the peace of mind knowing that all these accounts are insured through the FDIC, NCUA, or ASI. The advertised rates are not introductory teaser rates, there are no monthly fees or minimum balance requirements associated with the accounts, and ATM fees are refunded nationwide.Dave Ramsey's MyTotalMoneyMakeover.com is a subscription site helping people discover financial peace by walking them through Ramsey's 'baby step process' for dumping debt and building wealth. MyTotalMoneyMakeover.com is widely considered to be one of the best tools available to keep people motivated and accountable for their finances."Dave Ramsey has been a solid supporter of what we're doing at CheckingFinder™ and with the REWARDChecking accounts," said John Waupsh, Chief Executive Officer of FIRST ROI. "He truly understands what it means for money to work harder."For more information on these free, high-yield checking accounts at community financial institutions and the free trial offer to Dave Ramsey's MyTotalMoneyMakeover.com, visit http://www.checkingfinder.com.

Personal Financial Stimulus Package

Posted by Erik Keith on March 12, 2009 at 10:47am

As Personal Savings Rise to 5%, Consumers Could be Making Up to 6% APRAccording to the U.S. Commerce Department on Wednesday, the personal savings rate surged to 5% in January. As consumers frantically try to save their money as the economic outlook continues to look bleak throughout much of the country, they could be making up to 6% APR on their checking account.A “personal financial stimulus package” starts with the basics—your banking relationship. Community banks are still offering the best interest rates on free checking accounts:Florida Central Credit Union 6.01First Robinson Savings Bank 6.01Communications Federal Credit Union 5.25Connexus Credit Union 5.15Community Bank of Pleasant Hill 5.01Three Rivers FCU 5.01Union State Bank/Bank of Atchison 5.01Beacon Federal Credit Union 4.51In over 4000 community financial institution branches across the country, consumers are receiving from 3% to 6% interest rates on free checking with no minimum balance and reimbursed ATM fees. And these are NOT teaser rates.With a history of delivering value and customer-centric service, selected community banks and credit unions are offering free checking accounts with CD-like yields. The bank or credit union realizes operational savings when account holders accept eStatements, utilize direct deposit, access online banking, and increase their debit card usage and returns it to the consumer in the form of higher yields.To help consumers find community banks and credit unions with high-yield checking accounts, www.checkingfinder.com was created.

CONSUMERS KEEP MONEY CLOSE TO HOME

Posted by Erik Keith on November 10, 2008 at 2:37pm

With home safe sales up 75% over the past year, consumers are on a flight for safety. Many are finding soft landings locally at their community banks and credit unions where they can earn up to 7% interest on their checking accounts, feel the safety of a locally-owned bank, and know their deposits are fueling growth in their own community.“Amid this market turmoil, people are stashing cash close to home,” says Don Shafer, co-founder of BancVue and FIRST ROI, the creators of www.CheckingFinder.com, a resource to help consumers find community banks and credit unions that offer free, high-yield checking accounts. “Community banks and credit unions are trusted neighbors that offer safety and some of the best interest rates on the market. And if that isn’t enough, people enjoy that their deposits are being put to work in their local communities.”The more than 16,000 community financial institutions across the U.S. are certainly seeing money flow in from people cashing out of investments. An October survey by the Independent Community Bankers of America reveals that 70% of community banks saw an uptick in deposits in the past year. Part of the attraction has been driven by consumers seeking safer, high-yield checking accounts. In fact, BancVue, is witnessing accounts opening at a rate of every 59 seconds.“Selected community banks and credit unions are now offering free checking accounts with CD-like yields,” says Shafer. “Unlike the mega banks, these community institutions are taking the savings realized from consumers using electronic services and returning it to the consumer in the form of higher interest rates.”CheckingFinder.com is one resource for consumers to find community banks and credit unions that are offering free, high-yield checking accounts. The site enables consumers to search by rate, distance from their home, and best annual returns based on average account balance and ATM usage and then open the account online.“While megabanks may have branches, community financial institutions have roots. And, consumers are being paid to return to their roots,” concludes Shafer.

Note: this page contains paid content.

Note: this page contains paid content.

Note: this page contains paid content.