Five year average CDs dropped to from 1.113% to 1.107% APY. Three year average CD rates dropped from 0.762% to. In the last week, average one-year CD Rates dipped from 0.385% to 0.383% APY. At that time, a top CD rate was 6%, today, savers would be lucky to get 2%. Like the slow melt of snow outside my window, bank rates continue to melt off, continuing the decline begun in 2008. Deposits have grown steadily since 2007, from $167 million to $288 million at the end of 2012. The bank has a Texas Ratio of 28.39% which is higher than the national average of 17.60% but still not close to the 100% that is generally a cause for alarm. Customers can open an account via one of its 6 branches. It was founded in 2004 and has approximately $290 million in assets.
#SHAREPLUS FEDERAL BANK PLUS#
Share Plus Federal Bank is an FDIC insured institution located in Plano, TX. It's a bit more of a hassle than an online application but for someone looking for some extra yield who has extra time, it might be worth it. A mailing will be then be sent with the necessary paperwork, to be returned to the bank with a check. While there is no online application, I spoke to a CSR who told me that the CD can be opened via the phone. The bank is limiting it to one CD per customer. There is a minimum deposit of $10,000 and a maximum deposit of $25,000. In fact, it's the best rate on a two and a three year CD also. A two percent APY is by far the highest nationally available rate on a twelve month CD when you look at the best CD rates on the BestCashCow tables. Share Plus Federal Bank in Plano, Texas is offering a 2% APY 12-month CD rate good for terms between 1-5 years. Share Plus Federal Bank Offering 2% APY 12-Month CD - Available Nationally Please let us know if this squares with any of your experiences. This is still a great deal if you live near a Share Plus branch but no longer seems to be a nationally available offer. Despite telling me they would when I called, several members of have tried to open the account and been told they must visit the branch (see comments below article). Update: It looks like Share Plus Federal Bank has decided not to open accounts from out-of area. Hopefullly, the frenzy that it inspired won't prevent them from offering other great rates in the future. Update: May 15, 2013: Share Plus contacted BestCashCow and asked that we let everyone know the promotion is over.
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