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Monday, March 15, 2010
Banks vs. Money Funds
BANK/THRIFT YIELDS
Highest yields for money market deposit accounts and certificates of deposit reported to RateGram by federally insured banks and thrifts as of March 9, based on interest rates and method of compounding for an opening deposit of $25,000 or less. Figures in parentheses are annual percentage yields offered by banks and thrifts to depositors nationwide.
MMDA Annual Percentage Yield
(Nat'l Avg. 0.29 percent)
1 Sterling National Bank, New York City, NY (516) 682-8410 1.55
2 First Trade Union Bank, Boston, MA (800) 242-0272 1.50
3 Bank of Internet USA, San Diego, CA (877) 541-BOFI 1.45
4 Oritani Bank, Hackensack, NJ (201) 343-3800 1.45
5 Brooklyn Fed Sav Bank, New York City, NY (718) 855-8500 1.35
6-Month CD Annual Percentage Yield
(Nat'l Avg. 0.41 percent)
1 Sterling Savings Bank, Missoula, MT (406) 542-1500 1.70
2 Eastbank, New York City, NY (212) 219-9000 1.50
3 Metropolitan National Bank, Little Rock, AR (501) 377-7640 1.48
4 Legacy Bank, Hinton, OK (800) 687-9688 1.40
5 Asheville Savings Bank, Asheville, NC (800) 222-3230 1.35
1-Year CD Annual Percentage Yield
(Nat'l Avg. 0.64 percent)
1 Eastbank, New York City, NY (212) 219-9000 1.88
2 Metropolitan National Bank, Little Rock, AR (501) 377-7640 1.78
3 Fidelity Homestead Savings Bank, New Orleans, (504) 529-5011 1.75
4 Pacific Crest Savings, Seattle, WA (425) 670-9600 1.70
5 Washington Savings, Waldorf, MD (888) 843-7250 1.61
2.5-Year CD Annual Percentage Yield
(Nat'l Avg. 1.05 percent)
1 Asheville Savings Bank, Asheville, NC (800) 222-3230 2.65
2 Eastbank, New York City, NY (212) 219-9000 2.50
3 Oritani Bank, Hackensack, NJ (201) 343-3800 2.40
4 Bogota Savings Bank, Bogota, NJ (201) 489-3666 2.30
5 Brooklyn Fed Sav Bank, New York City, NY (718) 855-8500 2.25
5-Year CD Annual Percentage Yield
(Nat'l Avg. 1.95 percent)
1 PenFed, Alexandria, VA (800) 247-5626 3.50
2 First Bank, Anchorage, AK (907) 276-6300 3.40
3 Hudson City Savings Bank, Paramus, NJ (631) 727-8770 3.40
4 Community Bank of Bergen County, Maywood, NJ (201) 587-1221 3.30
5 Bogota Savings Bank, Bogota, NJ (201) 489-3666 3.25
Jumbo CDs Annual Percentage Yield
30 Days ($80,000 or more)
1 Bank of Smithtown, Smithtown, NY (631) 360-9300 0.88
2 Pacific Continental Bank, Eugene, OR (503) 350-1205 0.85
3 State Bank of Long Island, New Hyde Park, NY (516) 465-2200 0.85
90 Days ($80,000 or more)
1 Metropolitan National Bank, Little Rock, AR (501) 377-7640 1.09
2 Bank of Smithtown, Smithtown, NY (631) 360-9300 1.03
3 AmTrust Bank, Boca Raton, FL (888) 696-4444 1.00
4 AmTrust Bank, Cleveland, OH (800) 987-6446 1.00
180 Days ($80,000 or more)
1 Metropolitan National Bank, Little Rock, AR (501) 377-7640 1.63
2 Marathon National Bank of New York, New York (718) 721-0200 1.30
3 Sterling Savings Bank, Missoula, MT (406) 542-1500 1.30
MONEY FUND YIELDS
(Highest 7-day Compound Yields for period ended March 9, 2010)
Highest compounded (effective) rate of return to shareholders reported to Money Fund Report(r) for the past seven days.
GOVERNMENT RETAIL MONEY FUNDS
(Gov't Avg. 0.01 percent)
1 Direxion US Govt MMF/Cl A (k) (800) 851-0511 0.06
1 Dreyfus MM Instr/Govt Secs (k) (800) 782-6620 0.06
1 Weitz Government MMF (k) (800) 304-9745 0.06
4 Accessor US Govt MMF/Cl A (k) (800) 759-3504 0.05
4 Accessor US Govt MMF/Cl C (k) (800) 759-3504 0.05
4 Accessor US Govt MMF/Inst Class (k) (800) 759-3504 0.05
4 Accessor US Govt MMF/Investor (k) (800) 759-3504 0.05
4 Gabelli US Treasury MMF/Cl F (k) (800) 422-3554 0.05
4 HighMark US Govt MMF/Cl A (k) (800) 433-6884 0.05
4 HighMark US Govt MMF/Cl B (k) (800) 433-6884 0.05
4 HighMark US Govt MMF/Cl S (k) (800) 433-6884 0.05
4 PNC Government Fund/Cl A (k) (800) 622-3863 0.05
PRIME RETAIL MONEY FUNDS
(Prime Avg. 0.02 percent)
1 Flex-funds Money Market/Retail (k) (800) 325-3539 0.20
2 Harbor Money Market Fund/Admin (k) (800) 422-1050 0.16
2 Harbor Money Market Fund/Instit (k) (800) 422-1050 0.16
4 Dreyfus MM Instr/MM Series (k) (h) (800) 782-6620 0.10
4 Fidelity Select Money Market (800) 544-6666 0.10
4 Henderson MMF/Cl A (k) (866) 443-6337 0.10
7 Delaware Cash Reserve/Class A (k) (800) 362-7500 0.08
7 Delaware Cash Reserve/Class B (k) (800) 362-7500 0.08
7 Delaware Cash Reserve/Class C (k) (800) 362-7500 0.08
7 Delaware Cash Reserve/Consultant (k) (800) 362-7500 0.08
7 Schwab Cash Reserves (k) (800) 435-4000 0.08
TAX-FREE NATIONAL RETAIL MONEY FUNDS
(Nat'l Avg. 0.02 percent)
1 Marshall Tax Free MMF/Class Y (k) (800) 236-3863 0.21
2 Alpine Municipal MMF/Investor (k) (888) 785-5578 0.10
3 Vanguard Tax-Exempt MMF (800) 662-7447 0.08
4 CAT: T-E Port/DWS T-E Money Fund (800) 730-1313 0.05
4 Daily Income Fund-Muni/Advantage (k) (800) 221-3079 0.05
4 Dreyfus Municipal MMF (k) (800) 782-6620 0.05
4 Putnam Tax-Exempt MMF (k) (800) 752-2693 0.05
8 CMA Tax-Exempt Fund (k) (800) 637-7455 0.04
8 Delaware Tax-Free MF/Class A (k) (800) 362-7500 0.04
8 Delaware Tax-Free MF/Consultant (k) (800) 362-7500 0.04
(k) - all or a portion of fund's expenses are currently being waived or reimbursed.
(h) - fund requires a minimum initial investment of $50,000 or more.
Past returns are not necessarily indicative of future money fund yields. Investment quality and maturity may vary among funds.
BANK/THRIFT YIELDS SOURCE: Informa Research Services, Inc., Calabasas, CA, 91302, www.InformaRS.com.
MONEY FUND YIELDS SOURCE: iMoneyNet, Inc., an Informa Financial company, Westborough, MA 01581, www.imoneynet.com.
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