Sunmark FCU Offers OnlinePremium

January 21, 2005, 1:00 a.m. EST 1 Min Read

SCHENECTADY, N.Y. - (12/21/05) -- Sunmark FCU is offering potentialmembers in its newly added field of membership a holidaypremium--an online savings account that pays 4.25%--the highestrate in the nation. The online accounts, at RateEdge.com, pay asmuch as five times the credit union's regular savings account ratesand are available for all members but are specifically targeted toresidents of upstate New York's Montgomery and Schoharie counties,which Sunmark added to its four-county field of membership just afew months ago. The special online savings product was devised toreach potential members who may be too distant from a branch andare comfortable with online banking, according to Susan Siegel,vice president of marketing for Sunmark. "We can't build branchesas fast as we'd like to in these new areas," Siegel told The CreditUnion Journal. The online product enables Sunmark to serve thesepotential new members while keeping expenses down, sheadded.

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