Originally Posted by
cepheid
Alliant Credit Union offers high-yield checking at 1.75% with no limits on withdrawals (it's a real, full-featured checking account). They also offer a high-yield savings at 2.0%, with the usual 6-withdrawal limit. All available online, including check deposit.
Perhaps not what the OP is looking for, but I wanted to counter the quoted assertion.
Indeed! Alliant has high-yields on their accounts. I wonder where you can check their safety ratings? It seems the CU signed up w/ many employers/organizations to broaden its membership and even just by living in greater Chicago area would quality. Amazing.
Colonial Bank had branches in our area and they took out Ads a couple months ago touted their high yields. Colonial Bank was taken over by FDIC and subsquently bought by BB&T on Aug 14. The parent company has filed bankruptcy last week.
In the game of rate-chasing, despite the 250K FDIC insurance, it might be better to go with "proven" names than an unknown entity. CapitalOne has 1.29% rate on MM, so is 0.5% lower than Alliant CU, but CapitalOne has survived the financial crisis and actually has CC default rate LOWER than that of BofA.