Seattle Financial institution, a digitally-driven native financial institution, introduced the launch of CD Valet, a consumer-focused web site highlighting essentially the most related and aggressive certificates of deposit (CD) charges throughout 5 western states, with plans to develop nationally.
As inflation and rates of interest proceed to rise, CDs have come again round as a gorgeous funding alternative, offering a assured price of return and preserving the principal funding protected, with the good thing about federal deposit insurance coverage. Nevertheless, with regards to CD price buying on present comparability web sites, customers are sometimes unaware of the breadth of options out there, notably with regards to native charges. Whereas neighborhood banks and credit score unions typically provide the very best charges, large banks dominate the promoting on on-line platforms resulting from their higher advertising and marketing sources. This ends in skewed perceptions of the market and prevents customers from seeing a transparent image of all out there charges.
“CD buyers are savvy savers, particularly in at this time’s financial setting, and so they deserve a complete and unbiased view of {the marketplace},” stated John Blizzard, president and CEO of Seattle Financial institution. “That view ought to embrace the CD charges provided by native banks and credit score unions, the place they’ll typically discover the most effective returns and have the additional advantage of investing within the communities the place they work and dwell.”
CD Valet is an easy-to-use web site and cellular app that ship essentially the most related and unbiased CD charges in phrases from one to 5 years from almost 500 banks and credit score unions serving Washington, California, Idaho, Oregon and Arizona. Key options of the positioning embrace each day price updates and a “Promos” part spotlighting distinctive CD provides with distinctive maturities, rate-adjustment choices and add-on capabilities. CD Valet additionally supplies portfolio administration instruments to trace earnings and maturities, in addition to calculators to find out the price of breaking an current CD and reinvesting in a brand new CD for a doubtlessly larger return. Subscribers can even arrange alerts to be robotically knowledgeable about price modifications, CD maturity dates, and extra.
The CD Valet web site was developed by Apexon, a digital-first expertise providers agency specializing in human-centric digital experiences with deep expertise within the monetary providers and fintech industries.