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Bank rates such as CD rates and savings rates often move very slowly to the upside when the general level of interest rates start rising. On the opposite side of the banks interest rate management, it is not unusual for your credit card interest rate to jump to 25 or 30 percent when rates rise
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
Yes. Time certificates of deposits or CDs are not completely liquid. When you buy one, you enter into a contract involving a fixed amount of money, principal, for a predetermined period of time, the term, and an agreed-upon interest rate and yield.
Banks are permitted to assess an early withdrawal penalty whenever funds from
A term used to indicate that an account balance does not have enough available funds to cover a check that has been written and presented for payment.
A service that allows an account holder to obtain account information and manage certain banking transactions through a personal computer via the financial institution’s web site on the Internet. This is also known as Internet or electronic banking.
MICR. A special type of ink which enables special characters printed in magnetic ink to be read and input rapidly to a computer.
The best certificate of deposit rates for the week ending May 8, 2009 saw declines for the short term and midterm rates and an increase for the long term CD rates. The average for the best two year term CDs were unchanged for the week. The average of the top ten CD rates with a
Some longer term high yielding CDs have “call” features, meaning that the issuing bank may choose to terminate or call the CD after a fixed period of time. Only the issuing bank may call a CD and not the investor. For example, a bank might decide to call its high-yield CDs if
For consumers and investors looking for a safe investment vehicle in Pennsylvania, certificates of deposit at Continental Bank may be a viable option. Continental Bank is a full service, locally owned community bank in Pennsylvania. The bank has nine bank branches in Pennsylvania including one in Philadelphia and the headquarters in Plymouth Meeting. Continental Bank
The health of the economy affects interest rates by influencing the supply of, and the demand for, credit. For example: People’s incomes fall in a recession, so the amount they save also decreases. The demand for credit by business generally declines in a recession, as business spends less on new buildings, equipment, and
If you have a difficult time making credit card payments, call the toll-free number for your highest rate cards and ask the customer service representative if he or she can give you a better deal. Let them know that you’ve been getting offers in the mail for much lower rates. At most credit card companies,
The month, date, and year when a periodic or monthly statement is generated. Calculations have been performed for appropriate finance charges, minimum payment due, and new balance.
In today’s topsy turvy market, CDs add stability to an investment portfolio. As interest rates continue to drop, this may be the time to lock in the higher rates that are still available with bank CDs. With the one year CD an investor obtains a great rate at a term that provides both security and
The fraudulent signing or alteration of another’s name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud.
A term used to describe a debt security the title to which is transferred by delivery.
Interest rates moved out of synch for the first time in several weeks during the final week of September. CD interest rates were lower across the spectrum of maturities as the week came to a close. Bank savings account rates were down as were credit card rates. In the meantime, Treasury rates moved higher week
Charging an illegally high interest rate on a loan.
Mifflin County Savings Bank was founded in 1956 in Pennsylvania. The bank is a community bank with four bank branches in Pennsylvania. Mifflin County Savings Bank is chartered as a FDIC savings bank. The main bank office is located in Lewistown. The bank had total assets of $115,451,00 as of September 2008. During that same
Any financial institution that issues bank cards to those who apply for them.
Platteville is a city located in the southwest corner of Wisconsin. The city is home to the University of Wisconsin,Platteville. Platteville gets its name from the Platte river that runs through this community that was once populated with mostly fur traders and farmers. First National Bank of Platteville is an independent, locally owned community bank
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