These promotions are only offered by Doral Bank's New York branches, and accounts must be opened in person. Also, new money is required. Thanks to the reader who mentioned this special in the comments.

I don't see any limitation in the promotions page about opening both accounts. That would allow you to get 1.20% for the first 6 months and then you can get 1.10% for another 6 months.

This is the same bank that runs Doral Bank Direct which is still offering top rates on its 1-year and 3-year internet CDs (see post).

There used to be two Doral Banks with separate FDIC charters, Doral Bank and Doral Bank, FSB. However, the bank holding company, Doral Financial Corporation merged these into Doral Bank last year. Doral Bank isn't in the best financial shape. It has an overall health score of 3 stars (out of 5) with a Texas ratio of 79.92% (below average) based on December 2011 data. Please refer to our financial overview of Doral Bank for more details. The bank has been a FDIC member since 1981 (FDIC Certificate # 32102).

How These Rates Compare

These checking and money market rates would be very competitive even without the time guarantees. The best money market rate that's nationally available is 1.25% APY at TIAA Direct. However, this has no rate guarantee. The best rate that's guaranteed to last is 1.15% APY at Flagstar Bank. Flagstar is guaranteeing this rate for the first 4 months from account opening. EverBank is guaranteeing 1.05% for the first 6 months on its money market and checking account.

Searching for the Best Rates

To find the best rates on liquid accounts, please refer to the following rate tables. You can use these tables to search for both accounts available nationwide and accounts local to your state.

• checking account table
• reward checking account table
• money market account table
• savings account table

My feeling is that a bank safe deposit box provides more security against theft than these private vault services. There have been cases of robbers breaking in to bank safe deposit boxes, but these are very rare. It's important to note that FDIC insurance only covers deposit accounts. It provides no coverage of safe deposit box contents. Also, you shouldn't expect the bank to reimburse you for theft of or damage to the contents of your safe deposit box. This was one of 5 safe deposit box tips provided by this FDIC consumer news article.

A more common issue with safe deposit boxes is the ease of access to your box. Your heirs could have trouble accessing the box after your death. DA reader pearlbrown provided this useful tip about what not to put into a safe deposit box:

I would never put originals of documents such as wills, trusts, or power of attorney documents in a safe deposit box unless the person who might need access to them also has access to the box. Copies, yes, but originals never. A safety deposit box could be sealed for weeks after a death and the person who is to act as your executor could be caught in a drawn-out and expensive legal catch-22 (they need the original document to demonstrate that they are the executor and have access to the box but the document is inside the box).

Another potential issue with safe deposit boxes is the possibility that the contents in the box will be escheated (turned over to the government) if a box is dormant. This can occur even if all rent payments have been made. This article describes how this happened to a California woman who had a box at her local Bank of America branch.

With the issues and costs of safe deposit boxes, home safes may be more appealing. But there are still risks of theft, fire and flood.

Poll Question: Where do you keep your valuables?

So that leads me to this poll question: Where do you keep your valuables and important documents? Do you only use a safe deposit box? only a home safe? Or do you use both? If you use a private vault service or if you don't use anything, choose "other".

I couldn't find the CD disclosure online. I called the bank today, and I was told that the early withdrawal penalty is 6 months of interest for terms over 12 months. A branch visit is required, but I was told they do accept out-of-state deposits. So if you can travel to a branch, you should be able to open a CD. Make sure to call the branch before you visit to make sure the bank's policy hasn't changed.

Branches that can process CD applications are located in New Orleans, Metairie, Alexandria, Baton Rouge, Covington, Monroe and Shreveport, Louisiana.

The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 7.54% (excellent) based on December 2011 data. Please refer to our financial overview of Crescent Bank & Trust for more details. The bank has been a FDIC member since 1991 (FDIC Certificate # 33492).

How These CD Rates Compare

All of these Crescent Bank & Trust CD rates are higher than the best rates of comparable term CDs at nationally available banks and credit unions. The best 3-year and 4-year CD rates are 1.76% APY and 1.96% APY at Melrose Credit Union. The best 5-year CD rate is 2.25% APY at Astera Credit Union. These rates are accurate as of 5/16/2012.

Searching for Top CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.

CIT Savings Account

• 1.05% APY $25K+, 0.90% APY under $25K [was 0.90%/0.85%]

Achiever CDs, $25,000 minimum deposit

• 2-Year: 1.25% APY [was 1.20%]
• 1-Year: 1.10% APY [was 1.08%]

Jumbo CDs, $100,000 minimum deposit

• 3-Year: 1.44% APY [no change]
• 2-Year: 1.25% APY [was 1.21%]

Term CDs, $1,000 minimum deposit

• 3-Year: 1.42% APY [no change]
• 2-Year: 1.20% APY [was 1.19%]
• 1-Year: 1.06% APY [no change]
• 6month: 0.45% APY [no change]

CIT Savings Account

CIT Bank launched the savings account in March when the top tier rate was only 0.85%. That was increased to 0.90% in early May. I think CIT Bank realized that in today's environment, new internet banks have to offer something compelling to attract deposits. This new 1.05% APY is now very competitive although it's still quite a bit less than the 1.25% APY offered by the savings account leader, TIAA Direct. Just like TIAA Direct, there's no clue about how long this rate will last. In addition to TIAA Direct, Barclays is another new internet bank. The competition from the new and old internet banks will hopefully prevent these new internet banks from being quick to lower these rates.

One downside with CIT Bank savings account is that they still don't have an online ACH bank-to-bank transfer service. Currently, to initiate ACH transfers at CIT Bank, you'll have to call and give them your other bank's routing number, account number and account type. In April I was told they are working on the online service. I called again today, and it's still in the works.

Even though they don't have an online ACH bank-to-bank transfer service, they do offer one nice feature. If you maintain a balance of at least $25,000, they provide free wire transfers (including outgoing). I was told they need some written information for a wire transfer. This can be done by fax or email. Then you can initiate the transfer with a call.

Another way to make transfers is to initiate them from your other bank. I was told they do not block ACH transfers that originate from your accounts of other banks.

Please refer to my CIT Savings account review for more details.

CIT Bank Achiever CD

The Achiever CDs are the best CD deals at CIT Bank, and with the new rate hikes, they become even better deals. The only downside is that they have a $25K minimum deposit. The Achiever CDs have two nice features:

• add an additional deposit to your CD during the term
• increase your rate once during the term

I especially like the add-on feature for the 2-year CD. Add-on features are most useful for longer-term CDs. Assume you open this 2-year Achiever CD today, and you choose to add to the CD one year from now. Adding to the CD will be like opening a 1-year CD with a 1.25% APY. If interest rates overall stay the same in the next year, that would probably be better than any 1-year CD. If rates continue to fall, it becomes even more competitive.

Please refer to my CIT Bank CD review for more details.

ResCap is a separate mortgage subsidiary of our parent company, Ally Financial. We want to reassure our customers that this action does not have any impact on Ally Bank customer accounts or the terms and conditions of Ally accounts. Ally Bank operations will continue to be conducted, uninterrupted, and unaffected by the result of ResCap’s actions.

Ally has additional information for Ally Bank customers in this FAQ page. In addition to the ResCap bankruptcy, Ally appears to be planning to sell some international operations. That's how news media has interpreted the line about "strategic alternatives for its international operations." According to Ally's press release, its international operations include "auto finance, insurance, and banking and deposit operations in Canada, Mexico, Europe, the U.K. and South America."

The good news for U.S. Ally Bank customers is that there are no published plans to sell Ally Bank. That had been my primary concern. We have seen several cases in the past when internet divisions go down hill after acquisitions. Some examples include Bank of America's acquisition of Countrywide Bank, Chase's acquisition of WaMu and M&T Bank's acquisition of Wilmington Trust.

It's also good news in that these initiatives should help Ally repay the $12 billion in U.S. government bailout money. According to Ally's press release:

Upon successful completion of the announced strategic initiatives, Ally expects to return at least another third of the total investment, thereby enabling the U.S. Treasury to recover at least two-thirds of its investment in Ally by year-end.

Once Ally repays all of the bailout money, Ally Bank should finally be free of any FDIC restrictions. Ally has never acknowledged these restrictions, but the WSJ reported in 2009 that "The FDIC asked GMAC officials to keep the rates on deposits low enough so the bank wasn't one of the nation's top five rate payers, as measured by Bankrate.com, an interest-rate information service, people familiar with the matter say." This came after the American Bankers Association complained to the FDIC about Ally Bank (formerly GMAC Bank) being allowed to "pay rates well above the market" after Ally was provided bailout money.

In short, there's no reason for Ally Bank depositors to be worried. The recent news point to a future that should help Ally Bank. In addition, when you look at Ally Bank by itself without looking at its parent, Ally Financial, it's very healthy. At DepositAccounts.com we have an overall health score for Ally Bank of 5 stars (out of 5) with a Texas ratio of 2.34% (excellent) based on December 2011 data. We're not alone. Bankrate also has a 5-star rating. Bauer Financial gives Ally Bank 3½ stars (good).

Of course, it's always a good idea to remain below the FDIC coverage limits. This can be above $250,000 if you properly structure your accounts. Ally Bank makes it easy to do this. I have details in my post Maximizing Your FDIC Coverage with Beneficiaries.

Earning relationship points at Fairwinds is typically a slow process. For example, you earn 100 points for every year of membership and 1 point for every $1 in interest paid on loans or earned on deposit accounts. However, there is currently a promotion which allows members a quick way to earn a lot of points. It's by referring a friend or family member. When the friend or family member opens a Fairwinds checking account, you earn 2,500 points. So if you have 2 friends or family members who join and open a checking account, you can quickly earn 5,000 points. You should then be able to use those to qualify for the top 5-year CD rate. Over 5 years, this extra 50 basis points can result in more than $2,500 for a $100,000 deposit. For details of earning and redeeming points, please refer to Fairwinds Relationship Rewards page.

Membership is open to those living or working in any one of the following Central Florida counties: Brevard, Polk, Lake, Orange, Osceola, Seminole and Volusia. Please refer to Fairwinds Who-We-Are page for more details. Membership application can be done online. Accounts can be funded using an electronic transfer from another financial institution.

Fairwinds does have more potential monthly fees on savings and checking accounts than most other credit unions. I reviewed some of these in this post.

Fairwinds is a large credit union with 37 branches located in Orlando and throughout Central Florida.

The credit union has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas ratio of 50.49% (below average) based on December 2011 data. Please refer to our financial overview of Fairwinds Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68417).

How This CD Rate Compares

The best 5-year CD rate that's nationally available is 2.25% APY at Astera Credit Union. This requires a $50K minimum deposit. Astera Credit Union makes it easy for anyone to join via an association membership and an online application. The best 5-year CD rate that's nationally available at a bank is 1.91% APY at State Bank of India (New York).

Searching for Top CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.

Poll: Are you still using a CD ladder?

With today's interest rates being so low, do CD ladders still make sense? I thought this would make for a good poll. Are you still using a CD ladder? If you are still laddering CDs, have you made changes? For example, some may have decided to renew CDs on their ladders into longer-term CDs to take advantage of higher rates. Others may have decided to renew CDs into shorter-term CDs to prevent being stuck into a low-rate CD if interest rates rise.

My Take on CD Ladders

I've seen some financial advisors who have claimed that the CD ladder strategy is all but dead. It might seem unwise to renew CDs that mature today into new long-term CDs which have such low rates. However, many had those same concerns two years ago. I'm sure many readers who opened long-term CDs two years ago are glad about their choices. The problem is no one knows about how interest rates will change. The CD ladder provides a strategy that doesn't require you to guess about future rates.

CDs don't have to make up one's entire portfolio. For the fixed-income part of your portfolio that you want to keep safe, CDs and CD ladders can still make sense. For example, Allan Roth who writes for CBS News has written that he has "roughly" 70% of his "fixed-income portfolio in high-paying CDs that have easy early withdrawal penalties."

CD Ladder Overview, Strategies and Tips

If you're not familiar with a CD ladder, we have a CD ladder overview with an infographic. There are ways you can tweak a CD ladder. I described some of these ways in my post on Alternatives to CD Ladders. There are issues that can mess up your CD ladder and reduce your CD earnings. I reviewed some of these in my posts Issues to Consider for Your CD Ladder and 10 Gotchas to Avoid for Bank CD Investors.]]> http://www.depositaccounts.com/blog/2012/05/updated-review-of-lake-michigan-credit-unions-max-checking.html http://www.depositaccounts.com/blog/2012/05/updated-review-of-lake-michigan-credit-unions-max-checking.html Mon, 14 May 2012 14:33:36 GMT In the last couple of weeks I've been taking new looks at some of the old reward checking accounts that continue to be good deals and nationally available. Today's updated review is on the reward chec ... In the last couple of weeks I've been taking new looks at some of the old reward checking accounts that continue to be good deals and nationally available. Today's updated review is on the reward checking account at Lake Michigan Credit Union (LMCU) which it calls Max Checking. I first reviewed this account in August 2007 when it had a 5% APY. The rate has fallen, but it remains competitive for reward checking accounts. Max Checking has the following rates and features if certain monthly requirements are met (as of 5/14/2012):

• 3.00% APY on balances up to $15,000
• 0.00% APY on portion of balance over $15,000
• Refunds up to $15 per month in surcharge ATM withdrawal fees at non-LMCU ATMs

The monthly requirements include:

• 10 debit card purchases
• 4 logins to home banking
• Direct deposit
• receive eStatements and eNotices

Max Checking has no monthly fees and no minimum balance requirements. Many readers have provided their experiences of this account and credit union in this discussion thread. A credit union representative has also answered questions in this thread.

Max Checking has changed little since I reported on it 5 years ago. Only the rate has changed (down from 5%). It still has a balance cap of $15K, and the same debit card usage requirement. It also still has that strange login requirement. The few institutions to require a login to qualify for the higher rate usually only require one login per month. This is the only institution that I can remember that requires 4 monthly logins. It's easy to do, but it's also easy to forget if you're busy.

Application and Eligibility

Another nice aspect of this checking account is that you can apply online, and membership in the credit union is open to all who are donors to the Amyotrophic Lateral Sclerosis (ALS) Association, West Michigan Chapter. When you click on the "Sign up for Max" button in the credit union's Max Checking page, it'll provide a link for new members. That link takes you to an online application for new accounts. The first page of the new-account application requires you to select how you qualify for membership. If you live in Michigan, you can probably select the option which lists dozens of Michigan counties. If you don't live, work, worship or attend school in one of these counties, you can qualify by donating to the ALS Association of Michigan. This is the second option, It even provides a link to a donation form for this association. Minimum donation is $5.

For full details about qualifying for membership, please refer to the credit union's field of membership page.

Credit Union Overview

LMCU is a large credit union with 34 locations in West Michigan and almost $2.42 billion in assets.

The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 6.74% (excellent) based on December 2011 data. Please refer to our financial overview of LMCU for more details. The credit union is federally insured by the NCUA (Charter # 62514).

How This Reward Checking Account Compares

The 3% APY makes this very competitive for reward checking accounts in today's interest rate environment. However, the $15K balance cap is a downside. If you want a $25K balance cap, the best rate at an all-access credit union is 2.52% APY at ABCO Federal Credit Union. This rate and balance cap are accurate as of 5/14/2012.

There are reward checking accounts with higher rates in some parts of the country. To find the highest reward checking rates in your area, please refer to our reward checking rate table. This can also be used to find accounts available nationwide. If you're new to these tables, my rate table guide should be useful.

If you're new to reward checking, my blog post, 10 Common Traits of High-Yield Reward Checking, should be useful.

“It’s only a matter of weeks before the markets begin to really focus on that ‘fiscal cliff,’ ” he said. “It hasn’t really been priced into the market.”

With these issues affecting the economy, it's unlikely we'll see the Fed change its late-2014 expectation for exceptionally low rates. If conditions start moving toward a recession, the Fed could push this out again. There are some on the Fed who think rate hikes will be needed sooner, but these inflation hawks are in the minority.

The summary of the yields is shown below (Numbers are based on Yahoo bond rate data and the CME Group FedWatch.)

Treasury Yields:

• 6-month: 0.13% up from 0.12% last week
• 2--year: 0.25% same as lask week
• 5--year: 0.75% down from 0.78% last week
• 10-year: 1.80% down from 1.88% last week
• 30-year: 3.00% down from 3.07% last week

Fed funds futures' implied probability for a higher rate by:

• Dec 2013: 19.2% down from 25.8% last week
• Jul 2014: 60.3% down from 67.9% last week

This was a quiet Friday for the FDIC with no bank failures. The number of failures for the year remains at 23. At this time last year there had been 40 bank failures.

Savings & Checking Account Rates

This was another quiet week for savings account rate changes. None of the banks or credit unions on my list of top savings and checking accounts cut their rates this week.

Barclays finally did an official launch of its internet bank this week. I first reported on this internet bank on March 23rd in the first week it started to take deposits. Barclays online saving account has a competitive yield of 1.00% for all balances. Since the launch has just occurred, I think there's a good chance that this yield will hold for several months. Another plus is some positive reviews. One reader commented that the account was very easy to open and Barclays' customer service was very helpful.

Like Barclays, TIAA Direct quietly began accepting deposits before an official launch. Since TIAA Direct has yet to officially launch, that may be a good sign that the 1.25% APY will hold for several more months. TIAA Direct continues to hold the top spot with a 1.25% APY on its savings and money market accounts. This has now held for 12 weeks. Please refer to this blog post to read my TIAA Direct review and the comments of readers' experiences.

If you want some certainty about rates, EverBank is guaranteeing new customers a 1.05% rate for the first 6 months on its money market and checking accounts (see my review). Flagstar Bank is guaranteeing an even higher yield of 1.15%, but it's only guaranteed for the first 4 months (see my review).

Reward Checking Accounts

One of the old reward checking accounts on my list had a rate cut this week. The yield of the Xtraordinary Checking account from Connexus Credit Union fell from 2.00% to 1.75%. At least the balance cap remains at $25K. Connexus also has reward checking account with fewer requirements than the Xtraordinary Checking. This is called MyRewards Checking, and its rate also went down. It's now 1.35% APY for balances up to $25K. That's down from 1.75%.

I did another updated review of one of the old-timers on my list. The old-timer is the reward checking account from North Country Savings Bank. I first reported on this account in 2009. The rate has gone down (currently 1.50% APY), but it continues to have a large balance cap of $50K. I also confirmed with the bank this week that the account continues to be available nationwide.

If you're lucky, you may have a local reward checking account with rates of at least 3.00% for balances up to $25K. I reported on a new one of these this week. It's the Better Life Checking account from Del-One Federal Credit Union in Delaware. The account has a top APY of 3.00% for balances up to $25K. Unfortunately, credit union membership is primarily limited to Delaware residents.

There are a few institutions with even better deals. The two best continue to offer 4.00% APY. Coppermark Bank (with branches in OK and TX) and Southwest Airlines FCU both offer reward checking accounts with a 4.00% APY for balances up to $25K.

To find the highest reward checking rates and balance caps in your area, please refer to our reward checking rate table. This can be used to find accounts available nationwide and accounts with higher rates in your state. If you're new to these tables, my new rate table guide should be useful, and if you're new to reward checking, my blog post, 10 Common Traits of High-Yield Reward Checking, should also be useful.

Rate Hikes:

1. None

Rate Cuts:

1. Connexus CU Xtraordinary Checking - 1.75% (up to $25K) [was 2.00%]
2. Connexus CU MyReward Checking - 1.35% (up to $25K) [was 1.75%]

Certificate of Deposit Rates

My recap of CD rate changes and the list of CD deals will now be in my survey of the best CD rates. This recap will now focus on banking news of the week and liquid accounts.

Recap for the Week - Links to This Week's Posts

• Are You Ready to Retire?
• Note About the NCUA Website Changes
• Forum Tips and a Thank You to the Forum Members
• Deposit Rate Survey and Commentary for May 2012
• How to Cut Health Care Costs in Retirement

• Why Some Checking Accounts Have Higher Rates Than Savings Accounts
• Barclays Officially Launches Its New Internet Bank

• Survey of the Best CD Rates for May 11, 2012
• Competitive 1-Year & 3-Year CD Rates at Doral Bank Direct
• Top 5-Year CD Rates at Astera Credit Union in Michigan - Easy Membership
• 5 Top Long-Term CD Rates After Early Withdrawal Penalties

• Chase Checking $200 Bonus, But Beware of Monthly Fees
• New $100 Checking Account Bonus at BBVA Compass But Beware of Fees

• Updated Review of North Country Savings Bank's Advantage Checking Account
• Competitive Reward Checking Account at Del-One Federal Credit Union

• Special 5-Year & 30-Month CD Rates at Valley National Bank in NY - Local Only
• Special 29-Month CD at Hughes Federal Credit Union in Tucson - Easy Membership
• Top Mid-Term & Long-Term CD Rates at Via Credit Union in Indiana
• Top Step-Up 5-year CD Rate at Vantria Federal Credit Union in Virginia
• Competitive 4-Year CD Rate at Coronado First Bank in San Diego - Local Only
• Top Checking & CD Rates at F&A Federal Credit Union in California - Limited Membership

• Archive of 2012 Posts

Rates as of May 12, 2012

Checking/Savings/Money Market Accounts:

• Best Savings Account Rates (Nationwide & by State)
• Best Money Market Rates (Nationwide & by State)
• Best Checking Account Rates (Nationwide & by State)

• How to View Rates for Your State

• Noteworthy Accounts Available Nationwide:

• TIAA Direct - 1.25% MMA/Savings account review
• MyBankingDirect - 1.15% (min $5K) promo rate
• Flagstar Bank - 1.15% savings (4-month promo) promo review
• EverBank - 1.05% MMA/Checking (6mo intro rate) 0.76% ongoing rate, account review
• Incredible Bank - 1.00% MMA ($2.5K min) account review
• Salem Five Direct - 1.00% savings (guaranteed thru Aug statement cycle)
• Barclays - 1.00% Savings account review
• Acacia Federal - 1.00% Metro Checking, account review
• Amboy Direct - 1.00% eSavings ($25K Max, 12-mo guarantee for new customers), account review
• Alliant Credit Union - 0.95% (min $100) Savings account review
• Incredible Bank - 0.93% Checking ($1K min) account review
• SFGI Direct - 0.91% account review
• One United Bank - 0.90% ($100K) 0.85% ($1K) E-Money Market
• Alliant Credit Union - 0.90% Checking (req's elec. dep & e-stmts) account review
• ING Direct - 0.90% ($100K) 0.85% ($50K) Electric Orange Checking
• CIT Bank - 0.90% ($25K) 0.85% ($0) Savings, account review
• Clear Sky Accounts - 0.85% (max $250K) account review
• Colorado Federal Savings Bank - 0.85% ($2.5K min) account review
• Sallie Mae Bank - 0.85% MMA account review
• Ally Bank - 0.84% MMA/savings
• Capital One/Costco - 0.82% InterestPlus Savings ($10K min, includes 10% quarterly bonus) 0.75% (w/o bonus) account review
• Nationwide Bank - 0.81% MMA (min $1K)
• Discover Bank - 0.80% Savings (min $500) account review
• HSBC Advance - 0.80% Savings
• ING Direct - 0.80% Orange Savings
• CNB Bank Direct - 0.80% account review
• UFB Direct (Bank of Internet) - 0.80% Savings account review
• American Express Bank - 0.75%, account review
• Sallie Mae Bank - 0.75% Savings account review
• Capital One - 0.66% InterestPlus Savings ($10K min, includes 10% quarterly bonus) 0.60% (w/o bonus) account review
• Capital One - 0.60% Checking (rate guaranteed for 1 yr) account review

Reward Checking Accounts:

• Best Reward Checking Account Rates for a $10,000 Balance - Nationally Available
• Best Reward Checking Account Rates for a $25,000 Balance - Nationally Available

• How to View Rates for Your State

• Noteworthy Accounts Available Nationwide:

• Consumers Credit Union - 4.09% (up to $10K) 0.20% ($10K-$25K) 0.10% ($25K+) [scheduled to fall to 3.09% up to $5K in July]
• INOVA Federal Credit Union - 3.00% (up to $20K) 0.30% ($20K+)
• Lake Michigan Credit Union - 3.00% (up to $15K) 0.00% ($15K+)
• ABCO Federal Credit Union - 2.52% (up to $25K) 0.50% ($25K+)
• Pacific Resource Credit Union - 2.27% (up to $15K) 0.50% ($15K+)
• Provident Credit Union - 2.26% (up to $25K) 0.31% ($25K+)
• Community Bank of Pleasant Hill - 2.01% (up to $10K) 0.50% ($10K+)
• Bank of Blue Valley - 2.00% (up to $25K) 0.35% ($25K+), $1K/month debit card req (account review)
• Community Bank of Raymore - 1.75% (up to $10K) 0.50% ($10K+)
• Connexus Credit Union - 1.75% (up to $25K) 0.50% ($25K+) Xtraordinary Checking
• Heritage Bank - 1.71% (up to $25K) 0.10% ($25K+)
• First New England Federal Credit Union - 1.52% (up to $15K) 0.10% ($15K+) (extra 1% w/relationship)
• Avidia Bank - 1.51% (up to $25K) 0.05% ($25K+)
• North Country Savings Bank - 1.50% (up to $50K) 0.75% ($50K+)
• State Bank of Toledo - 1.31% (up to $25K) 0.20% ($25K+)
• West Texas National Bank - 1.26% (up to $25K) 0.25% ($25K+)
• Bank of Internet USA - 1.25% (all balances)
• Atlantic Coast Bank - 1.01% (up to $15K) 0.40% ($15K+)

Certificates of Deposit:

• Best CD Rates (Nationwide & by State)
• Best IRA CD Rates (Nationwide & by State)

• How to View Rates for Your State

• Survey of the Best CD Rates for April 27, 2012 (Nationwide & Local)

Various Deposit Account Deals

• Bank Promotions
• Best IRA CD rates, local and nationwide deals
• Latest CD and Savings Account Deals with No Major Deposit Limitiations

Bank Account Alternatives

• Ford Interest Advantage - 1.10% rate for $50k+, Ford Interest Advantage review
• GE Interest Plus - 1.10% rate for $50k+
• Vanguard Tax-Exempt Money Market Fund - 0.09% 7-day yield
• Vanguard Prime Money Market Fund - 0.05% 7-day yield
• Fidelity Money Market Fund - 0.01% 7-day yield (reviews on Fatwallet)
• Fidelity Municipal Money Market Fund - 0.01% 7-day yield
• TIAA-CREF Money Market Fund - 0.00% 7-day yield
• PayPal Money Market Fund has ended effective 7/29/11
• FW Thread on Treasury Bills
• Series I Savings Bond Purchases from May thru Oct 2012, I Bond Article, I Bonds as CD Alternatives

The recently released Northwestern Mutual Longevity & Preparedness study reveals that Americans appear to be startlingly unprepared financially to live into their 70s, 80s and 90s. Of those surveyed, only 56% said they feel financially prepared to live to 75, 46% said they feel financially prepared to live to 85, and just 36% said they feel prepared to live to 95.

The findings were even worse for women, who on average live five years longer than men. Men, regardless of age, are significantly more likely than women to feel financially prepared to live to age 75 (65% vs. 48%), to 85 (55% vs. 37%), and when it comes to living to 95, (43% vs. 30%). The differences between men and women was also highlighted in a new survey from ING Direct and DailyWorth.com. Nearly eight in 10 women say they lack financial savvy (or they are still learning) about retirement planning. Nearly 30 percent have no idea what their main source of retirement income will be, 40 percent don’t even know what kind of retirement lifestyle they want.

All this begs the question, how do you know you’re ready to retire? There are some tell-tell signs that you’re just about good to go.

There’s a plan in place

You have a formal investment plan and have been actively saving to be ready for retirement. You have enough saved to cover the estimated lifestyle and health care expenses you know you will need in retirement. But you’ve gone the extra step by saving enough to give yourself a cushion for the unexpected.

Social Security can wait

In fact, your savings are such that you will be able to delay taxes. Minimum withdrawals from most retirement accounts don’t become required until age 70 ½. “If you can defer taxes for an extra decade, you can take advantage of more time to compound, tax deferred,” says Grant Cardone, author of If You’re Not First You’re Last. Social Security eligibility starts at 62, but your checks are reduced by 25-35 percent if you sign up at that age. For each year you delay signing up for Social Security between ages 62-70, your benefit will increase by 7 to 8 percent, says Cardone.

The math adds up

You have met with a financial professional to put together a retirement income plan that will allow you to convert your retirement savings into a steady stream of income. This is an important step, says Delia deLisser, director of women’s programs at ING U.S. Many people often need help figuring out how to translate their retirement savings into use for every day spending. Knowing how to safely tap, and when is critical.

You know where you’ll live

The mystery is over. You know where you want to live in retirement. You have determined if you will stay put, or that you will stay in the same town but buy something smaller, or move to another city where expenses are less. You have a good sense that your retirement dollars will lost longer where you’ve chosen to live.

Mindset moved to retirement

Psychologically, you are already gone. You don’t see how you will miss work. You aren’t wondering how you will spend your days. “Just as it’s important to have a financial plan in place for retirement, it is equally important to have a life plan in place for retirement,” says deLisser. Many people have been so busy juggling family, work and other obligations for years, they have no clue about what they would do with free time. That’s not your issue. In fact, you are already planning which classes you would like to take, what organizations you would like to volunteer for, where you like to travel and more.

What’s up do?

You won’t be afraid to ask that question. You are well aware that health care costs can be retirement killers. Recent health care cost estimates calculated by Fidelity Investments are that a 65 year-old couple retiring this year will need $240,000 for medical expenses throughout retirement, which is a 4 percent increase from last year’s $230,000 estimate. You’re not overly concerned because you have access to good health insurance, whether through Medicare or private insurance. While in life there are no guarantees of good health, you are doing your part. You watch what you eat and drink, exercise, get proper rest and keep your stress to a minimum.

Empty nest

Another plus, says Jennifer FitzPatrick, author of Your 24/7 Older Parent, is if you are without financially dependent children, grandchildren or parents. Without those financial obligations, you’ll have less pressure on your no-paycheck lifestyle because it can be tough to say no to family when they are in need.

If all this doesn’t match where you are, then no, it’s not quite your time.