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An investment program, offered by state governments, designed to help pay future qualified education expenses. States offer two types of 529 plans: prepaid tuition programs allow contributors to establish an account in the name of a student to cover the cost of a specified number of academic periods or course units in the future
A record of a customers account that is issued periodically showing all transactions during that period. It shows all deposits made, all checks paid, and other debits posted during the period, usually one month, as well as the current balance.
The Nov. 12th issue of the New Jersey Star-Ledger has an ad placed by MetLife advertising their 12 month CD. The MetLife opens with, “FDIC insured Did we mention great rates?” The interest rate on the CD is for a special limited time offer. The CD rate promoted for this 12 month term CD is
Oaks is a village located in Montgomery County, Pennsylvania, 18 miles northwest of Philadelphia. The Schuylkill River runs through the village as did the Reading Railroad. Phoenixville Federal Bank & Trust traces its origin to this tiny village of Oaks, Pennsylvania in the year 1911. Phoenixville Federal Bank and Trust has been FDIC insured since
Banks are great place to get a high rate of return during a rough investment market. Banks are also the number one destination for an emergency cash fund. Everyone needs an emergency savings plan that insulates them from both expected and unexpected large expenditures. Bank CDs and savings products are convenient, offer stable interest rates and FDIC
A yield curve is a graph that shows the relationship between yields and maturity dates. Under normal circumstances, the longer it takes for a CD, bond or other investment to mature, the greater the yield, because people demand a greater return to tie up their money for a longer time. When the difference in
Your deposit account agreement states that it’s your responsibility to review your periodic statement and advise the bank of any errors. Generally, you have 30 days from the statement date to find the error and notify the bank.
If the loss occurred from a fraudulent endorsement with a check, State statutes typically allow up
Bank rates fell…….through the floor this week. Fortunately, the full impact was not absorbed in CD interest rates although, in the coming days bank CD rates are sure to drop further. The European debt crisis not only refused to go away but appears to be bigger than ever. The combination of more problems with European
Since there are several different types of bank accounts, inflation will have varying degrees of impact on them. Inflation erodes the value of our money. Higher inflation leads to a greater amount of funds needed to purchase consumer goods. As goods become more expensive we need our investment rates of return to
Online banking offers many tangible features that more and more customers are gravitating towards. One feature often overlooked is that online bank account management brings us closer to a paperless nation. Online banking can save money and help the environment as well as save costs and increase an accounts rate of return. Managing bank accounts
A weak jobs report has pushed interest lowers including bank CD rates. The most recent economic reports led by the monthly jobs report has turned the tide on the string of improving economic data and brought into question the vitality of US economic recovery. Slow growth generally leads to low levels of inflation, low loan
Key Rates
This weekNovember 18, 2008
Last WeekNovember 12, 2008
One Year AgoNovember 13, 2007
Federal Funds Target Rate
1.00%
1.00%
4.50%
Federal Funds Effective Rate
0.38%
0.35%
4.61%
Discount Window Rate
1.25%
1.25%
5.00%
Prime Rate
4.00%
4.00%
7.500%
3 Month Treasury Bill
0.07%
0.18%
3.41%
6 Month Treasury Bill
0.65%
0.74%
3.63%
1 Year Treasury Bill
0.95%
1.00%
3.68%
3 Year Treasury Bond
1.36%
1.60%
3.52%
5 Year Treasury Bond
2.08%
2.37%
3.84%
10 Year Treasury Bond
3.38%
3.75%
4.26%
5 Year Inflation Indexed Treasury Bond
3.44%
3.46%
1.46%
3 Month Commercial Paper
1.32%
1.40%
4.38%
3 Month Eurodollar Deposit
3.00%
2.75%
4.90%
Always compare bank interest rates and bank fees when shopping for bank products. If you think your bank fees are getting onerous and its time to compare the fees of one bank account with another, be sure to also factor in any difference in the interest rates on the accounts. If one account pays sufficiently
Historically low rates on bank CDs continued again this week. Although CD interest rates were little changed by the close of the week, there were no CD terms that displayed an increase in rates and some terms ended with a mild decrease. While CD rates remain quite low, there is a wide discrepancy
Triple sevens are the winning number often sought out on the slot machine for the big payout but in today’s investment environment triple fives may be the better deal. Here we have three banks offering 5.00% yields on five year CDs in the state of California.
Washington Mutual is offering a 5.00% rate on their five
Unfortunately, no. While all banks are subject to the same maximum hold periods established by law and the rules issued by the Fed, each bank may make deposits available sooner. Each bank determines what its policy will be. It can make all of the funds available immediately or delay availability up to
The U.S. Treasury Department made another announced regarding more TARP funds being disbursed to needy banks. This week’s allocation was for a $15 billion investment in 7 banks. The investments are made through the Capital Purchase Program which is part of the TARP, Troubled Asset Relief Program.
Per the Treasury’s press release, to date, the Department
While the market appears to fear the potential for rising rates and rising inflation, the bond market improved with prices up and interest rates lower. Treasury rates were lower for all maturities at the close of Thursday September 24, 2009.
The three month Treasuries fell by one basis point or 1/100 of a percent for the
Mother Lode Bank is based in Sonora, California. It is a locally owned and operated bank. Mother Lode Bank opened for business on July 30, 2004. Mother lode Bank has two bank branches in Sonora and a loan production office located in Murphys, California. The bank offers a number of deposit products including checking accounts,
Money market mutual funds are a type of mutual fund that invests in high quality, short-term debt instruments including government securities, certificates of deposit, asset-backed commercial paper and other highly liquid securities short term corporate debt. Like all mutual funds, money market mutual fund portfolios are professionally managed and a management fee is charged against
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