Nest Egg CD Requires LowBalance

April 20, 2006, 1:00 a.m. EDT 1 Min Read

LOWELL, Mass. - (04/20/06) Seeking to encourage membersavings, M/A-COM FCU here has introduced a share certificate with alow $100 opening balance that it reports attracted $100,000 duringits first week of availability. Called the ³Build Your NestEgg² certificate of deposit, the credit union is targetingyoung savers who may want to start putting money aside for futuremilestones such as a college education, first home, or new baby.The CD has a term of 13 months.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Stephen Miran confirmed to Fed board

The Senate voted 48 to 47 to confirm Stephen Miran to the Federal Reserve Board, just ahead of the central bank's rate setting committee meeting.

By Claire Williams

46m ago
M&A

National Bank Holdings inks deal for Dallas-based bank

The pending $369 million deal would bolster National Bank Holdings' footprint in Texas, where it currently operates as Hillcrest Bank.

By Allissa Kline

2h ago
Yahoo Finance Feed

U.S. Bancorp further expands its small business toolkit

The Minneapolis-based bank has rolled out payroll and bill pay features four months after unveiling a service to monitor card spending. An accounts receivable solution is on deck.

By John Reosti

3h ago
Fraud

Aspiration, the tree-planting neobank felled by investor fraud

An alleged scandal involving the LA Clippers is just the latest reputation hit to the beleaguered fintech.

By Carter Pape

4h ago
Data sharing

Should banks charge data aggregators fees? The debate continues.

When JPMorganChase said it planned to charge aggregators for its customer data, it sparked strong feelings on all sides.

By Penny Crosman

6h ago
Payments

Mastercard accelerates AI shopping ahead of the holidays

The card brand has added several tools that expand "agentic commerce," which adds artificial intelligence-based automation to shopping, service and checkout, innovation that's becoming popular with payment companies.

By John Adams

7h ago