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After the moderate downward slide in short term CD rates last week, the bond market starting the week by pushing rates lower. Monday’s closing Treasury market saw further reductions in rates and an increase in bond prices across the yield curve. The six month Treasury fell one basis point or 1/100 of a percent to
Heartland Bank is a full service, regional bank that serves the market areas of St. Louis, MO and Denver, CO. Heartland Bank has been offering consumers bank savings and lending products for over 120 years. The bank operates branches in the two states of Colorado and Missouri and also offers savings and checking accounts through
In today’s competitive banking market, if you are a regular bank ATM user and pay a charge for using it, it is probably time to change banks. There is enough competition in most areas that you can find a bank that will offer free ATM use. Compare the bank products and services that are most important
The rate of interest on a loan or an interest bearing security that takes into account the price, the par value and the time to maturity.
When the economy shows signs of growth bond yields generally rise resulting in higher bank rates and mortgage rates. This past week, there was little evidence that the U.S has slowed down yet bond rates dropped, mortgage rates fell and CD interest rates moved marginally lower.
Bank rates were mostly affected by uncertainty in the
A negotiable instrument, principally a check but also notes and drafts, that has been sent to one bank for collection and payment and is returned unpaid by the sending bank.
After ending a five year CD rate promotion, Live Oak Bank has just fired up a chart topping two year CD rate promotion. The two year certificate of deposit at Live Oak has an interest rate of 1.50 percent and requires a minimum deposit of $75,000.00. This promotion is current the highest rate offered on
The U.S. Department of Labor released unemployment claims for the week ending November 15, 2008.
The Seasonally Adjusted Figures:
The advance figure for seasonally adjusted initial claims was 542,000, an increase of 27,000 from the previous week’s revised figure of 515,000. The 4-week moving average was 506,500, an increase of 15,750 from the previous week’s revised average
Credit unions can be very large or quite small in both deposits and number of members. Credit unions operate like most any bank by taking in deposits an making loans and investments. The range of products any particular credit union offers can be as competitive as the largest bank, however most credit unions
The organization employed by a mutual fund to prepare and maintain records relating to shareholder accounts.
The primary U.S. government agency responsible for the regulation of the day-to-day operations and disclosure obligations of securities trading. The SEC is an independent, non-partisan, quasi-judicial regulatory agency with responsibility for administering the federal securities laws. The purpose of these laws is to protect investors and to ensure that investors have access to
When the amount of money withdrawn from a bank account is greater than the amount actually available in the account, the excess is known as an overdraft, and the account is said to be overdrawn.
National banks can either return the check unpaid or advance sufficient funds to your account to pay the check or debit item. In either case, your bank can assess an insufficient funds fee against your account.
Certificates of deposit generally pay a higher rate of interest than similar type bank accounts. They pay a higher rate because they have a fixed maturity date that for the most part guarantees the bank has the ability to use these funds for investment and lending activities. One way the bank can make
Any card, plate, or coupon book that may be used repeatedly to borrow money or buy goods and services on credit.
City First Bank of D.C. is a Community Development Financial Institution that is established for the purpose of building the economic health of underserved communities in the Washington, DC area. The banks primary mission includes strengthening and promoting investment in the neglected and underserved communities in Washington, D.C. As part of the banks mission, the
Watertown Savings Bank is an independent mutual savings bank based in Watertown, Massachusetts. The bank was established on April 18, 1870. Watertown Savings Bank has been FDIC insured since January 2, 1981. Watertown Savings Bank is chartered as a FDIC Savings Bank. Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC). At the
A lousy monthly employment report did little to move the market this week. Interest rates headed moderately lower after a much worse than expected employment report was released on Friday but the interest rate action on that day was not enough to undo the rate increases that occurred midweek and the market ended mixed.
Electronic check conversion is a process in which your check is used as a source of information–for the check number, your account number, and the number that identifies your financial institution. The information is then used to make a one-time electronic payment from your account–an electronic fund transfer. The end result is that
An independent federal agency that supervises and insures both federal and state-chartered credit unions. NCUA is entirely funded by credit unions and receives no tax dollars.