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Most people are aware of credit reporting bureaus, which are agencies that determine a person’s credit worthiness through a numerical score between 300 and 800, (with 300 being the worst and 800 being the best). However, few are knowledgeable of ChexSystems, an organization that has the same concept as credit reporting bureaus. They
Before investing in a money market fund, an investor should carefully read all of the fund’s available information, including its prospectus, or profile if the fund has one, and its most recent shareholder report. A mutual fund’s prospectus explains to potential investors the fund’s investment objective. The investment objective describes the types of securities the
A measure of the trading activity in a fund’s investment portfolio, how often securities are bought and sold by a fund.
A Debit Card combines the utility of an ATM card and some of the functions of a credit card. Also called a check card, the card will often bear the logo of Visa or MasterCard, and those companies process the transactions that take place outside of an ATM machine, like retail stores, restaurants, or
The best CD rates available nationally ticked up a notch for the week ending May 6, 2011. The average rate for the highest CD rates covering all CD terms surveyed by Selectcdrates.com from three months to five years was 1.383 percent or .014 percent higher than the previous week. The increase in the
Even though the GDP numbers released last week were stronger than expected, banks continued to trim interest rates further on certificates of deposit. Financial institutions cut rates on three of the four CD terms measured in the weekly selectcdrates.com bank rate survey. While yields moved lower for the short and midterm CDs, the long term
The time interval between the dates on which regular periodic statements are issued.
CD interest rates took a mild slide for the week ending August 31, 2012. The average CD rate in the Selectcdrates.com CD rate index dipped lower by a mere 3/1000ths of a percent. The CD rate index, which measures the average rate found on the top ten best three months CD rates, six month CD
A measurement of the cost of living determined by the Bureau of Labor Statistics.
A bank, often with branches, that is locally owned and operated, and is not part of a bank holding company.
Michigan has certainly seen its share of economic adversity in recent years. One bright spot in the economic morass is the financial returns offered by investing in the certificate of deposits found at Bank of Auburn Hills. Bank of Auburn Hills has three CDs with some of the highest interest rates for their terms. The
A fund’s cost of doing business, that is disclosed in the prospectus, expressed as a percent of its assets.
Cash kept on hand in a depository institution’s vault to meet day-to-day business needs, such as cashing checks for customers. Vault cash is counted as a portion of the banks required reserves.
A sale or purchase of a security designed to counter losses or gains from price or interest rate changes.
A check written by a depositor that has not yet been presented for payment to or paid by the depositor’s bank.
If you find yourself consistently not making payments and falling behind in your checking account, get some personal financial counseling. Free credit counseling classes are often available and you can find out about them at DebtAdvice.org, the website of the National Foundation for Credit Counseling.
Profile Bank, based in Rochester New Hampshire, offers a number of loan programs to consumers in the Granite State. Included among the lending options at Profile Bank is an array of mortgage loans available for 1-4 family homes. Profile Bank offers a rather extensive variety of mortgage loans for a community bank. Traditional fixed rate
Bank lending rates and bank savings rates moved marginally lower this past week. The range that interest rates moved was once again very tight. While the trading range for bank rates was quite narrow, the direction of rates was decidedly lower. All interest rate categories measured in the Selectcdrates.com weekly bank rate survey turned down
Credit card fees and bank fees are too of the biggest recurring fees consumers are charged by financial institutions. Maintain the right bank account to avoid low balance fees and overdraft fees on your checking account. For credit cards, search for the best credit card with a low interest rate and avoid making the monthly
Trans Pacific National Bank was formed in 1984 and has its main office headquartered in San Francisco with two additional bank branches in Alameda and Millbrae. This independent community bank provides a variety of CD terms along with its personal banking solutions. Products include personal checking, interest checking accounts, personal savings accounts and money market