Learn about President Obama's myRA initiative that targets Americans who don't have employer-sponsored retirement plans.
Would members pay to make deposits to their credit union share accounts?
The amount of money deposited in bank accounts recently reached a new high of $10.3 trillion, according to Market Rates Insight.
Unstable home values, job insecurity and volatile stock market fears may be more of a concern for some members than what the rates are at their credit unions.
The national average rate for the five-year certificate of deposit has dropped below 1% for the first time, according to Market Rates Insight.
The results of Market Rates Insight’s first nationwide integrated study on service fees revealed that credit union members are more willing to pay for “lifestyle financial services”–financial services that support mobile, efficient lifestyles–than bank customers are.
Market Rate Insight survey says middle and upper income consumers open to using prepaid cards if their financial institutions provided them.
Consumers rank identity theft alerts, and credit reporting high among services, and they’re willing to pay around $3 or $4 a month to use them.
May 2012 could be the first time since May 2007 that deposit rates have not declined.
The interest expense that banks are paying for retail funds is now the lowest on record, according to research firm Market Rates Insight.