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A brokered CD is a CD that is sold through an intermediary, usually a brokerage firm, rather than directly by the bank or savings institution itself. Brokered CDs are issued by banks but are made available to the customers of the deposit broker. Some banks, besides providing CDs directly to their customers, broaden the number
A time of day established by a bank for receipt of deposits. After the cut-off time, deposits are considered received on the next banking day.
Mortgage rates were driven lower once again with the average 30 year mortgage rate shedding just over two basis points to 4.164%. One basis point is the equivalent of 1/100th of a percent. Not much of change but mortgage rates continue to cling to the lowest levels seen so far this year. While borrowing costs
The Federal Funds Rate is the interest rate at which private financial institutions such as banks lend their reserves held at the Federal Reserve to other financial institutions overnight for short term needs.
A bank or other financial institution lends out most of the money deposited with it but also is obligated by law to keep
The missile strike on a Malaysian airliner in Ukraine and the invasion of Gaza by the Israeli military sent a jolt through the financial markets this past week. Geopolitical tensions impacted the interest rate markets and the stock markets as one might expect the events unfolded along the Ukraine – Russian border and the Middle
Diversification is the process of reducing risk by spreading out investments over different types of assets in order to minimize the impact of a poor performance or outcome from any one type. Diversification can be used with numerous bank products such as savings account, money market accounts and certificates of deposit. Further diversification can be
The term online banking is generally used to describe two distinctly different banking operations. Online banking, including paying bills and making transfers, may be available through a traditional bank. Online banking, in this description, simply means having some level of access to your bank through the internet. An internet only bank or
The person or bank who is expected to pay a check or draft when it is presented for payment.
Founded in March 1976, Omni National Bank is headquartered in Atlanta, Georgia. Omni National Bank is a subsidiary of Omni Financial Services, Inc., a publicly traded bank holding company. Omni Financial Services, Inc.’s common stock trades via the Pink Sheets under the symbol “OFSI.PK”.
Omni National Bank is a full-service, national bank with assets in excess
Interest rates made a moderate move to the upside after the first week of September was laid to rest. While the rate increase was moderate for mortgage loan products, the CD rate increases for the week were notable. What is even more startling was the rate increases took place during a week or news and
CD rates reversed last week’s mild rate reduction and pushed slightly higher for the week ending July 6, 2012. The average CD interest rate in the Selectcdrates.com CD rate index advanced but less than one basis point. The average CD rate was up by just 1/1000th of a percent pushing the Selectcdrates.com CD rate index
A trust, which may be cancelled or changed by the grantor. Only after death of the grantor does ownership of assets transfer to named beneficiaries.
Massachusetts based BankGloucester has a CD rate promotion that tops the bank rate competition in the Bay State as well as those offered across the nation. BankGloucester offers competitive rates on a number of savings and fixed rate investment products however, their two year certificate of deposit leaves the competition in the dust.
The current bank
The Industry State Bank serves individuals and businesses in Austin, Colorado, Fayette, and Washington counties. The bank was founded in 1911. Industry State Bank has been FDIC insured since January 1, 1934. The banks main office is located in Industry, Texas and a branch office serves New Ulm, Texas. Industry State Bank is chartered as
A term used to describe the outcome of the yield on a debt instrument or security that is greater than the cost to finance the purchase of the security.
A personal check drawn by an individual that is certified (guaranteed) to be good. The face of the check bears the words “certified” or “accepted,” and is signed by an official of the bank or thrift institution issuing the check. The signature signifies that the signature of the drawer is genuine, and sufficient
Even as the stock market began to regain its footing, bank rates led by mortgage rates and CD interest rates continued to move lower. After falling measurably for the week ending August 8th, another week of stock market and credit market mayhem led to another significant decrease in mortgage rates, CD interest rates and savings
No, a checking account is not correlated to your credit score. The only reason why you have to give your social security # is to prove that you have no outstanding debt with any other banks and proof of identification.
Deposits held in financial institutions that are guaranteed by the Federal Deposit Insurance Corporation (FDIC) against loss due to bank failure.
The November 23, 2008 Chicago Sun-Times holds an ad by Bridgeview Bank promoting a new style bank account. The copy in the body of the bank ad reads, “Introducing a new way to think about how you bank, save and spend money”. The bank account offers a 4.00% interest rate that allows deposit and withdrawal