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Subject:  Re: Low CD RAtes Date:  4/14/2008  5:01 PM
Author:  tilnow Number:  12845 of 20632

Not an answer to your life settlement question, but as an alternative to the low CD rates our local credit union is offering a free checking account that pays 5.1%. No minimum balance is required.

The conditions are that you must use the debit card (free) six times monthly and go online once a month to view your bank statement. All ATM fees for out of network banks are refunded to you. If you have more than 25,000 in the checking account, the interest rate is reduced to around 2% on the amount over 25,0000.

The bank is offering this as a way to introduce people to using debit cards. If you're handling your mother's financial affairs, perhaps this could offer an advantage. I have not tried it myself, but my CDs will mature in late summer and I'm thinking of it.
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