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First Trade Union Bank has a High & Mighty Savings earning 1.05 percent annual percentage yield (APY). The savings rate can only go higher but never lower through September 30, 2011. Existing customers can open the high-yield savings account online. Details of the savings offer include:

  • Minimum opening deposit of $250
  • 1.05 percent APY is for balances of $2,500 and up
  • 0.25 percent APY on balances between $10 and $2,500
  • No monthly service fees
  • Free online banking
  • Get statements online
  • ATM card available
  • Set up direct deposit

Interest on the savings accounts accrues daily and is compounded and credited monthly. The savings rate is current as of June 29, 2011. Funds can be transferred between First Trade Union Bank and external accounts for no fee. The savings account also can be used with the banks overdraft protection program. The bank also reimburses some ATM fees for transactions at machines displaying the Cirrus, SUM Program or NYCE Payment Network logos.

First Trade Union Bank has been in business since 1987 and is based in Boston. Deposits at the bank are insured by the Federal Deposit Insurance Corp. (FDIC) up to $250,000 per depositor.

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