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A bank upon which a check is drawn and that pays a check or other draft.
CD rates moved higher at the onset of April with the longer term maturities leading the way. The average rate across the most popular CD terms available nationally was up by 8/1000ths of a percent. The average rate on the top ten highest CD rates across multiple terms was 1.084% on April 7th compared to
Walden Savings Bank of Montgomery, New York is offering a number of bank CDs with competitive interest rates in the Hudson Valley area. Walden Savings Bank is a community bank that works on meeting the borrowing and deposit needs of consumers and businesses in Montgomery and the surrounding region in NY. Along with certificates of
Bank rate changes over the holiday week were all very modest from CD rates and mortgage rates to Treasury rates and savings account rates. The bulk of the interest rate adjustments took place towards the end of the week as the market became very nervous over the lack of progress in settling the fiscal cliff
A debt security issued by a company, municipality, or government agency. A bond investor lends money to the issuer and, in exchange, the issuer promises to repay the loan amount on a specified maturity date; the issuer usually pays the bondholder periodic interest payments over the life of the loan.
A term to describe the pricing on an investment such as a Treasury Bill, at less than its face value. Income on the investment usually comes from the sale of the investment at face value at maturity.
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001 (Public Law 107-66) This law was enacted shortly after 9-11-2001 as a response to enhance law enforcement powers and the ability of the U.S. Government to combat terrorism.
Short-term transactions in immediately available funds between depository institutions and certain other institutions that maintain accounts with the Federal Reserve; usually not collateralized.
When shopping for a checking account, make sure that you avoid any headaches you may incur in the future by simply choosing free checking accounts. Banks will use a variety of savvy marketing techniques to get you as a customer. However, these accounts may not always be the best thing for your needs. If you
Citibank is running a 6 month CD promotion. The interest rate on the CD is 4.00%. Minimum opening deposit is a low $500.00. The ad specifies the 4.00% CD is available in Citibank Financial Centers in New Jersey, New York, Connecticut, Texas, Massachusetts, Pennsylvania and Illinois. A quick jump to the Citibank website at www.citibank.com
A financial instrument held by a third party on behalf of the other two parties in a transaction. The funds are held by the escrow service until it receives the appropriate written or oral instructions-or until obligations have been fulfilled. Securities, funds, and other assets can be held in escrow.
Robert R. Prechter Jr., the founder of Elliott Wave International spoke on CNBC in the last week of January where he discussed his view about extreme optimism and valuations in the market concluding that the best investments now are in cash equivalent investments and the U.S. dollar.
During the January 26, 2010 interview Prechter went on
Westminster is located in the northwestern most corner of South Carolina in Oconee County which is often referred to as the ‘Golden Corner.’ The name is given because of the climate, the beautiful lakes and the beauty of its Blue Ridge Mountains. Resting in the foothills of the Appalachian Mountains, Westminster is close to Lakes
New Resource Bank is a commercial bank based in San Francisco, California. New Resource Bank is an FDIC insured bank which offers broad banking services to personal, business and non-profit clients. The bank was established in 2006 to provide personalized services generally associated with community banking along with the convenience and security of a large
As July started to come to a close, CD rates finally got off their perch and started to follow the higher yields of the mid and long term bond rates that we have experienced in the previous weeks and marched slightly higher. Mortgage rates experience no such delay in pricing or inelasticity and with little
A time deposit, FDIC-insured to $100,000 per person ($250,000 on retirement accounts), with a fixed maturity date, usually from three months to five years. It usually pays higher interest than a savings account and cannot be withdrawn before a specified maturity date without being subject to an interest penalty for early withdrawal.
A line of credit that may be used repeatedly up to a certain limit. Also referred to as a charge account or revolving credit.
Iron Workers is a mutual savings bank established December 8th, 1879 in Chester Pennsylvania. The Bank was named after the local artisans who built iron clad ships, in the local ship yard. Iron Workers is a community bank specializing in retail and small business banking. The bank offers a variety of standard banking services from
A contractual agreement in a loan that allows the borrower or lender to permanently change one or more of the terms of the original contract.
A company hired by a creditor to collect a debt that is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, usually through letters and telephone calls.