Latest news with #LangleyFederalCreditUnion
Yahoo
12 hours ago
- Business
- Yahoo
Best CD rates today, June 3, 2025 (Lock in up to 4.25% APY)
The Federal Reserve lowered the federal funds three times in 2024. As a result, deposit account rates are on the decline. The good news: You can lock in a competitive return on a certificate of deposit (CD) today and preserve your earning power. In fact, the best CDs still pay rates above 4%. Read on for a snapshot of CD rates today and where to find the best offers. CDs today typically offer rates significantly higher than traditional savings accounts. As of February, the best short-term CDs (six to 12 months) generally offer rates around 4% to 4.5% APY. Today, the highest CD rate 4.25% APY, offered by Langley Federal Credit Union on its 10-month CD. There is a $500 minimum opening deposit required. The following is a look at some of the best CD rates available today from our verified partners. This embedded content is not available in your region. The 2000s were marked by the dot-com bubble and later, the global financial crisis of 2008. Though the early 2000s saw relatively higher CD rates, they began to fall as the economy slowed and the Federal Reserve cut its target rate to stimulate growth. By 2009, in the aftermath of the financial crisis, the average one-year CD paid around 1% APY, with five-year CDs at less than 2% APY. The trend of falling CD rates continued into the 2010s, especially after the Great Recession of 2007-2009. The Fed's policies to stimulate the economy (in particular, its decision to keep its benchmark interest rate near zero) led banks to offer very low rates on CDs. By 2013, average rates on 6-month CDs fell to about 0.1% APY, while 5-year CDs returned an average of 0.8% APY. However, things changed between 2015 and 2018, when the Fed started gradually increasing rates again. At this point, there was a slight improvement in CD rates as the economy expanded, marking the end of nearly a decade of ultra-low rates. However, the onset of the COVID-19 pandemic in early 2020 led to emergency rate cuts by the Fed, causing CD rates to fall to new record lows. The situation reversed following the pandemic as inflation began to spiral out of control. This prompted the Fed to hike rates 11 times between March 2022 and July 2023. In turn, this led to higher rates on loans and higher APYs on savings products, including CDs. Fast forward to September 2024 — the Fed finally decided to start cutting the federal funds rate after it determined that inflation was essentially under control. Today, we're beginning to see CD rates come down from their peak. Even so, CD rates remain high by historical standards. Take a look at how CD rates have changed since 2009: Traditionally, longer-term CDs have offered higher interest rates compared to shorter-term CDs. This is because locking in money for a longer period typically carries more risk (namely, missing out on higher rates in the future), which banks compensate for with higher rates. However, this pattern doesn't necessarily hold today; the highest average CD rate is for a 12-month term. This indicates a flattening or inversion of the yield curve, which can happen in uncertain economic times or when investors expect future interest rates to decline. Read more: Short- or long-term CD: Which is best for you? When opening a CD, choosing one with a high APY is just one piece of the puzzle. There are other factors that can impact whether a particular CD is best for your needs and your overall return. Consider the following when choosing a CD: Your goals: Decide how long you're willing to lock away your funds. CDs come with fixed terms, and withdrawing your money before the term ends can result in penalties. Common terms range from a few months up to several years. The right term for you depends on when you anticipate needing access to your money. Type of financial institution: Rates can vary significantly among financial institutions. Don't just check with your current bank; research CD rates from online banks, local banks, and credit unions. Online banks, in particular, often offer higher interest rates than traditional brick-and-mortar banks because they have lower overhead costs. However, make sure any online bank you consider is FDIC-insured (or NCUA-insured for credit unions). Account terms: Beyond the interest rate, understand the terms of the CD, including the maturity date and withdrawal penalties. Also, check if there's a minimum deposit requirement and if so, that fits your budget. Inflation: While CDs can offer safe, fixed returns, they might not always keep pace with inflation, especially for longer terms. Consider this when deciding on the term and amount to invest.
Yahoo
2 days ago
- Business
- Yahoo
Best CD rates today, June 1, 2025 (lock in up to 4.25% APY)
Find out how much you could earn by locking in a high CD rate today. A certificate of deposit (CD) allows you to lock in a competitive rate on your savings and help your balance grow. However, rates vary widely across financial institutions, so it's important to ensure you're getting the best rate possible when shopping around for a CD. The following is a breakdown of CD rates today and where to find the best offers. Historically, longer-term CDs offered higher interest rates than shorter-term CDs. Generally, this is because banks would pay better rates to encourage savers to keep their money on deposit longer. However, in today's economic climate, the opposite is true. Today, the highest CD rate 4.25% APY, offered by Langley Federal Credit Union on its 10-month CD. There is a $500 minimum opening deposit required. Here is a look at some of the best CD rates available today from our verified partners: This embedded content is not available in your region. The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (CD interest typically compounds daily or monthly). Say you invest $1,000 in a one-year CD with 1.81% APY, and interest compounds monthly. At the end of that year, your balance would grow to $1,018.25 — your initial $1,000 deposit, plus $18.25 in interest. Now let's say you choose a one-year CD that offers 4% APY instead. In this case, your balance would grow to $1,040.74 over the same period, which includes $40.74 in interest. The more you deposit in a CD, the more you stand to earn. If we took our same example of a one-year CD at 4% APY, but deposit $10,000, your total balance when the CD matures would be $10,407.42, meaning you'd earn $407.42 in interest. Read more: What is a good CD rate? When choosing a CD, the interest rate is usually top of mind. However, the rate isn't the only factor you should consider. There are several types of CDs that offer different benefits, though you may need to accept a slightly lower interest rate in exchange for more flexibility. Here's a look at some of the common types of CDs you can consider beyond traditional CDs: Bump-up CD: This type of CD allows you to request a higher interest rate if your bank's rates go up during the account's term. However, you're usually allowed to "bump up" your rate just once. No-penalty CD: Also known as a liquid CD, type of CD gives you the option to withdraw your funds before maturity without paying a penalty. Jumbo CD: These CDs require a higher minimum deposit (usually $100,000 or more), and often offer higher interest rate in return. In today's CD rate environment, however, the difference between traditional and jumbo CD rates may not be much. Brokered CD: As the name suggests, these CDs are purchased through a brokerage rather than directly from a bank. Brokered CDs can sometimes offer higher rates or more flexible terms, but they also carry more risk and might not be FDIC-insured. This embedded content is not available in your region.
Yahoo
3 days ago
- Business
- Yahoo
Best CD rates today, May 31, 2025 (best account provides 4.25% APY)
Find out how much you could earn by locking in a high CD rate today. The Federal Reserve cut its federal funds rate three times in 2024, so now could be your last chance to lock in a competitive CD rate before rates fall further. CD rates vary widely across financial institutions, so it's important to ensure you're getting the best rate possible when shopping around for a CD. The following is a breakdown of CD rates today and where to find the best offers. Generally, the best CD rates today are offered on shorter terms of around one year or less. Online banks and credit unions, in particular, offer the top CD rates. Today, the highest CD rate 4.25% APY, offered by Langley Federal Credit Union on its 10-month CD. There is a $500 minimum opening deposit required. Here is a look at some of the best CD rates available today: Ce contenu intégré n'est pas disponible dans votre région. The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (CD interest typically compounds daily or monthly). Say you invest $1,000 in a one-year CD with 1.81% APY, and interest compounds monthly. At the end of that year, your balance would grow to $1,018.25 — your initial $1,000 deposit, plus $18.25 in interest. Now let's say you choose a one-year CD that offers 4% APY instead. In this case, your balance would grow to $1,040.74 over the same period, which includes $40.74 in interest. The more you deposit in a CD, the more you stand to earn. If we took our same example of a one-year CD at 4% APY, but deposit $10,000, your total balance when the CD matures would be $10,407.42, meaning you'd earn $407.42 in interest. Read more: What is a good CD rate? When choosing a CD, the interest rate is usually top of mind. However, the rate isn't the only factor you should consider. There are several types of CDs that offer different benefits, though you may need to accept a slightly lower interest rate in exchange for more flexibility. Here's a look at some of the common types of CDs you can consider beyond traditional CDs: Bump-up CD: This type of CD allows you to request a higher interest rate if your bank's rates go up during the account's term. However, you're usually allowed to "bump up" your rate just once. No-penalty CD: Also known as a liquid CD, type of CD gives you the option to withdraw your funds before maturity without paying a penalty. Jumbo CD: These CDs require a higher minimum deposit (usually $100,000 or more), and often offer higher interest rate in return. In today's CD rate environment, however, the difference between traditional and jumbo CD rates may not be much. Brokered CD: As the name suggests, these CDs are purchased through a brokerage rather than directly from a bank. Brokered CDs can sometimes offer higher rates or more flexible terms, but they also carry more risk and might not be FDIC-insured. Ce contenu intégré n'est pas disponible dans votre région.
Yahoo
15-04-2025
- Business
- Yahoo
Blend and Alloy Expand Partnership to Supercharge Fraud Prevention for Banks and Credit Unions
SAN FRANCISCO, April 15, 2025--(BUSINESS WIRE)--Blend Labs Inc. (NYSE: BLND), a leading origination platform for digital banking solutions, announced today an expanded partnership with Alloy, a leading identity and fraud prevention platform provider. As part of the new agreement, Blend customers can now more seamlessly and cost-effectively access Alloy's advanced identity and fraud prevention capabilities into their consumer banking solutions, ultimately building a safer and more trusted digital banking experience in order to grow their business. "Our partnership with Alloy helps us go beyond expectations, giving financial institutions the security and scalability they need to lend with confidence," said Blend's co-founder and CEO, Nima Ghamsari. "With this expanded relationship, we're making it even easier and more cost-effective for lenders to access top-tier risk and fraud prevention tools—seamlessly built into their workflows." This latest evolution builds on a longstanding partnership between Blend and Alloy, which has been delivering integrated fraud prevention and compliance solutions across Blend's deposit account and consumer lending products. Financial institutions using this joint solution are already seeing measurable impact, including Langley Federal Credit Union: "Earlier this year, Langley was hit with a fraud attack, but Alloy and Blend quickly caught it and stopped it," said Cris Daly, Digital Product Manager at Langley Federal Credit Union. "Alloy detected nearly 700 fraudulent applications and automatically rejected them so that none of those fraudsters made it into our portfolio." Through identity orchestration, the partnership enables lenders to meet KYC (Know Your Customer) requirements and screen for fraud by leveraging a range of third-party data sources. Configurable workflows further enhance efficiency by intelligently sequencing these providers in a cost-effective and optimized manner, ensuring institutions can balance security, compliance, and operational ease. "Fraud prevention has become a critical need in the lending industry, as financial institutions seek smarter, more efficient ways to manage identity risk and grow their business," said Keith Kettell, Chief Revenue Officer at Alloy. "By combining our expertise in fraud prevention with Blend's industry-leading consumer banking platform, we're equipping lenders with the tools they need to stay ahead of threats while also automating and simplifying their operations." To learn more about Blend's Consumer Banking solutions, visit About Blend Blend Labs Inc., (NYSE: BLND) is a leading origination platform for digital banking solutions. Financial providers— from large banks, fintechs, and credit unions to community and independent mortgage banks—use Blend's platform to transform banking experiences for their customers. Better banking starts on Blend. To learn more, visit About Alloy Alloy provides an identity and fraud prevention platform that enables global financial institutions and fintechs to manage identity risk so they can grow with confidence. Over 600 of the world's largest financial institutions and fintechs turn to Alloy's end-to-end platform to access actionable intelligence and the broadest network of data sources across the industry, as well as stay ahead of fraud, credit, and compliance risks. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at Forward-Looking Disclaimer This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements generally relate to future events, future performance or expectations and involve substantial risks and uncertainties. Forward-looking statements in this press release may include, but are not limited to, our expectations regarding our product roadmap, future products/features, the timing of new product/feature introductions, market size and growth opportunities, macroeconomics and industry conditions, capital expenditures, plans for future operations, competitive position, technological capabilities and strategic relationships, as well as assumptions relating to the foregoing. The forward-looking statements contained in this press release are subject to risks and uncertainties that could cause actual outcomes to differ materially from the outcomes predicted. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "could," "would," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other comparable terminology that concern Blend's expectations, strategy, plans or intentions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which such performance or results will be achieved, if at all. Further information on these risks and uncertainties are set forth in our filings with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Blend and assumptions and beliefs as of the date hereof. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. Except as required by law, Blend does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise. View source version on Contacts Press Contact Chloé DemeunynckCorporate Communicationspress@
Yahoo
08-04-2025
- Business
- Yahoo
Langley Federal Credit Union Selects Ameriprise Financial to Manage its Investment Program
Partnership gives Langley Wealth Management clients' access to impressive suite of solutions and services offered by Ameriprise Financial MINNEAPOLIS, April 08, 2025--(BUSINESS WIRE)--Ameriprise Financial (NYSE: AMP) today announced Langley Federal Credit Union, a federally chartered credit union based in Newport News, Va., with more than $5.4 billion in assets, has transitioned its investment program to the Ameriprise Financial Institution Group (AFIG). The credit union's investment program operates under the name Langley Wealth Management and includes five financial advisors, Najib Khan, Bonnie Blaylock, CFP®, Amber Marois, Corey Watson and Frank Nickey, who help clients manage approximately $450 million in assets across Virginia and North Carolina. "We chose to partner with Ameriprise Financial because of their proven expertise in helping individuals and families achieve greater financial confidence," said Tom Ryan, President & CEO at Langley Federal Credit Union. "Our clients are seeking holistic financial planning solutions, and Ameriprise's extensive resources will help us better serve them at every stage of their financial journey." Through Ameriprise Financial, Langley clients will have access to a full range of leading services and solutions including: Personalized advice and financial planning capabilities tailored to their individual needs. Robust investment products to help them achieve their financial goals with more confidence. Digital capabilities that allow clients to connect with their advisors where and how they want—face-to-face, online, video or phone meetings. "We're thrilled Langley Federal Credit Union selected Ameriprise to strengthen their ability to offer comprehensive financial planning and investment solutions tailored to their clients' needs," said Jay McAnelly, Group Vice President, Ameriprise Financial Institutions Group. "Clients across Virginia and North Carolina put their trust in Langley, and we're honored to bring the outstanding wealth management capabilities of Ameriprise Financial to them." About Langley Federal Credit UnionLangley Federal Credit Union is a federally chartered credit union, regulated and insured by the National Credit Union Administration. Langley serves more than 395,000 members and has over $5.4 billion in assets, ranking the financial cooperative as one of the 100 largest credit unions in the country. Langley is a full-service financial institution where everyone can save, borrow, and spend wisely. Located in Hampton Roads, Richmond VA, and Raleigh NC, Langley has over 680 employees, 20 branches with access to more than 55,000 surcharge-free ATMs throughout the region. For more information, visit About Ameriprise FinancialAt Ameriprise Financial, we have been helping people feel confident about their financial future for more than 130 years. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors1, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs. About Ameriprise Financial Institutions Group (AFIG)With more than 30 years2 serving the investment program needs of banks and credit unions, Ameriprise Financial Institutions Group brings a depth of understanding, experience, and knowledge to the financial institutions space – helping deliver value for clients/members while driving revenue for the financial institutions. To find out why financial institutions are partnering with Ameriprise Financial, visit Ameriprise Financial Services has a partnership with this financial institution to provide financial planning services and solutions to clients. The financial institution is not an investment client of Ameriprise but has a revenue sharing relationship with us that creates a conflict of interest. 1 Ameriprise Financial Q4 2024 Earnings Release.2 Investment Professionals, Inc (IPI) was founded in 1992 and specialized in the on-site delivery of investment programs for financial institutions. Ameriprise Financial, Inc. acquired IPI in 2017, bringing together the years of experience of the two organizations. Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value. Ameriprise Financial Services partners with financial institutions to provide investment advisory, brokerage and insurance services to their clients. This is a contractual relationship, which earns the financial institution compensation from Ameriprise for successful referrals. In most cases, the financial institution also receives a majority of the commissions and fees generated by Ameriprise financial advisors for the services noted above. This applies as long as the referred client maintains a relationship with Ameriprise. Non-licensed employees of the financial institutions may receive incentives from their employer for referring clients to Ameriprise. These incentives create a conflict of interest. Ameriprise Financial cannot guarantee future financial results. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Langley Wealth Management is a financial advisory practice of Ameriprise Financial Services, LLC. Ameriprise Financial and Langley Federal Credit Union are not affiliated. Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. Securities offered by Ameriprise Financial Services, LLC. Member FINRA and SIPC. © 2025 Ameriprise Financial, Inc. All rights reserved. View source version on Contacts Ali Harries, Media Sign in to access your portfolio
