APY GUY: Maximize Your Savings & Earnings

Lauren Graves

Fitness Bank Savings Review – Up to 0.70% APY!


If you regularly rack up 12,500+ steps per day, you can lock in one of the highest savings rates in the country!

How far have you gone to save money? If your answer is 10,000 steps or more a day, you might want to hear about FitnessBank.

Self-described active lifestyle bank, FitnessBank is an FDIC-insured online member bank that wants you to stay (or get) fit almost as much as you do. By incentivizing fitness progress with financial savings, this modern bank strives to keep you accountable and boost your morale during your wellness journey.

About Fitness Bank

Though new itself, FitnessBank is a division of ​Newton Federal Bank​, an entity with roots in 1947. But as the only company in America that links physical activity with earnings, FitnessBank is the first of its kind.

This online bank only offers savings accounts: the Fitness Savings and the Senior Savings Account. So if you’re looking for a bank that features checking account options, retirement guidance, investment opportunities, or physical branches, look elsewhere. In addition, this bank operates 100% online, so FitnessBank accounts are only for those fully comfortable using technology to manage their money.

As a non-traditional digital bank, FitnessBank joins the likes of popular FinTech companies such as ​Simple​, Affirm, ​Chime​, Aspiration​, and more. If you want to become part of a new kind of banking, keep reading to find out if a FitnessBank savings account will fit your lifestyle.

Fitness Bank Savings Account

FitnessBank’s method for establishing your APY is what sets it apart from the rest of the online savings accounts out there. The interest you earn on your FitnessBank savings account is determined entirely by the physical steps you take. Your average daily step count is calculated each month and your APY adjusted accordingly. Because of this payment method your interest is both compounded and paid out monthly.

A Fitness Savings account is available to anyone U.S. citizen that’s 18 years old or older for an opening deposit of $100, and signing up is easy. The company boasts a straightforward ​application​ that takes less than two minutes to complete. Account balance thresholds are:

  • Account minimum:​ $100
  • Account maximum:​ $250,000

With a Fitness Savings account, the following actions and features are free:

  • online banking
  • external account transfers
  • incoming wire transfers
  • eStatements

Here is a breakdown of all fees attached to FitnessBank accounts:

Maintenance Fee$10/month
Excessive Withdrawal Fee$10
Overdraft Fee$40

The monthly maintenance fee of $10 is waived for accounts with an average daily balance of $100 or more. The excessive withdrawal fee of $10 per transaction is charged when you make ​more than six debit transactions​ (withdrawals or automatic transfers/payments), or your monthly allowance, in a single month. An ACH incoming/outgoing transfer limit of $2,500 per day is enforced.

FitnessBank does not offer debit cards and there are no FitnessBank ATMs, so you will not be able to withdraw funds in-person at any ATM.

How the Step Tracker Works

The FitnessBank business model is made possible by the ​FitnessBank Step Tracker app​. This proprietary app links to a ​FitBit​,​ Google Play​, A​pple Health​, or ​Garmin​ activity-tracking device to log your steps and to your savings account to deposit earnings. You can set monthly APY and step targets for yourself and see your progress toward them right in the app.

Your APY is calculated month-to-month from the previous month’s step data. If, for example, your average daily step count for July is 10,000, your APY for August will be 0.60%. If your average daily step count for August is 8,700, your APY for September will be 0.50%.

The Step Tracker draws data from your chosen activity-tracking device, but the only way for FitnessBank to receive this data is for you to open the Step Tracker app between the first and third of every month. If you forget to do this, FitnessBank will use the previous month’s step data to calculate your average daily steps. If you work hard to increase your daily steps, you’ll want to make sure that the Step Tracker app can see this. Don’t let expired data keep you from earning the rates you’re entitled to.

To further motivate users to perform, FitnessBank features Step Challenges and ​Leaderboards. Winners earn the rewards and prizes described in each challenge summary. There is a FitnessBank Step Challenge of the Month in which all FitnessBank customers can compete and promotional Step Challenges that are open to the general public. Contact ​onlinesupport@fitnessbank.fit​ if you’ve got an idea for a new Step Challenge.

Members can earn bonus steps in their ​StepBank​ for making referrals. These can be used toward an average daily step count or to purchase FitnessBank merchandise, dispensed at the user’s discretion. ​To connect with other dedicated FitnessBank members with goals similar to your own, consider joining a group​.

How to Earn Savings Rate APY

The savings rate APY for a Fitness Savings account varies from individual to individual, but the rate you will earn is predictable. There are five different APY tiers available through the Fitness Savings account, and these, along with the step count required to qualify for them, are shown in the chart below.

Fitness Savings Account Rates:

Daily Step RequirementAPY (Annual Percentage Yield)
0 – 4,9990.30%
5,000 – 7,4990.40%
7,500 – 9,9990.50%
10,000 – 12,4990.60%
12,500+0.70%

0.70% APY is one of the highest yields available on a savings account, but you’ll have to work for it month-to-month to earn this competitive APY.

You might be wondering how FitnessBank can afford to offer such high savings to its most devoted customers. According to its website, it’s because they are an online bank with low overhead, “[making them] nimble and efficient.”

Senior Savings Rate APY

Any U.S. citizen over the age of 65 may apply for a ​Senior Savings Account​ with FitnessBank. The rates and step requirements for this type of savings account are:

Senior Fitness Savings Rates:

Daily Step RequirementAPY (Annual Percentage Yield)
0 – 4,9990.40%
5,000 – 7,4990.50%
7,500 – 9,9990.60%
10,000+0.70%

The foundation of FitnessBank is staying healthy, but that means something different for every age group. Because of this, seniors are held to different daily step requirements yet entitled to the same opportunities for high APYs. To earn the highest APY possible (0.70%), for example, people over the age of 65 have to take an average of 10,000 steps or more per day rather than 12,500.

Final Thoughts

For any ​already highly-active individual that is looking to combine their personal financial goals with their physical fitness goals, a FitnessBank savings account might be a great option. However, unless you are fully able and willing to commit to 10k steps per day (and have already proved this to yourself) then we would recommend looking elsewhere for an online savings account as you can likely find a better APY with another online institution.

FitnessBank is a fintech firm, so it’s part of a field that’s at the forefront of melding technology with finance. If you prefer your banks to be more traditional and well-established with brick and mortar locations, then you’ll want to look into other options as well.

Edward Jones CD Rates – Now Up to 1.10% APY!


image credit: edwardjones.com

Edward Jones is a brokerage firm you’ve probably heard of over the years as it nears almost a century in age.

Founded in 1922, Edward Jones scores surprisingly well in customer satisfaction—18 points over the industry average, according to a J.D. Power 2019 survey—and is known for being a largely reliable and professional company.

The current suite of brokered certificates of deposit offered through Edward Jones are less competitive than the current national average for their respective terms and higher yields can be found directly through online banks and credit unions.

Because Edward Jones is a brokerage firm and not an actual bank they don’t sell their own CDs. Instead, they ‘broker’ or re-sell a range of deposits from other banking institutions.

Are Edward Jones brokered deposits worth considering? Read our full review below.

Edward Jones CD Rates + Account Details

No one would blame you for being unimpressed with the rates offered through Edward Jones certificate accounts. Their APYs sit far below those found through online banks and many nationally available credit unions.

That said, these products do have some advantages. For one, you can exit these CDs at any time by selling them through a secondary market which Edward Jones offers. Second, you can spread your funds into multiple banks with Edward Jones as your broker.

Edward Jones CD Rates

CD TermAPY
3 monthsNA
6 monthsNA
9 monthsNA
1 year0.05%
18 monthsNA
2 years0.10%
30 months0.10%
3 years0.15%
4 yearsNA
5 years0.40%
7 yearsNA
10 years1.10%

All Edward Jones CDs require minimum opening deposits of $1,000. Please note that 3, 6, 9 and 18 month CDs as well as 4 and 7 year CDs are not available at this time.

To give these offers some context, the current national average for a 12 month CD and a 60 month CD sit at 0.22% APY and 0.47% APY, respectively.

Edward Jones Brokered CDs Account Details

A few crucial distinctions must be made between standard CDs and Edward Jones’s brokered CDs.

The most important of these being that you do not open or manage brokered CDs yourself. On top of that, the actual CD isn’t technically a product of Edward Jones at all. Instead Edward Jones purchases a CD for you from one or many different banks in partnership with this firm.

You can open new CDs with Edward Jones or you can purchase secondary CDs.

If you open a new CD with Edward Jones you will not have to pay any commission fees. Edward Jones will receive a concession from the bank that takes your deposit, but this is already factored into the price.

If purchasing a CD on the secondary market, you will have to pay Edward Jones a commission just like you would purchasing stock. You can see what commission they take in the trade confirmation.

A benefit of Edward Jones brokered CDs is that they don’t have early withdrawal penalties. If you need to cash out of your deposit early you can simply sell it to another investor on the secondary market.

Unfortunately, this also means there is an inherent downside to these products in that their price fluctuates on the open market and can feasibly be sold for less than the purchase price.

For example, if you open a 5 year deposit and need the funds after year 2, during which time interest rates have risen considerably, you may have a tough time selling your deposit for your full purchase price.

Conversely, if you purchase a 5 year deposit and rates drop significantly (which they have) then you may find investors willing to offer a premium on your CD on the secondary market.

Also note, interest earned on Edward Jones CDs does not compound. This is true of most brokered CDs as they require an immediate distribution of interest. The terms of your personal CD will tell you how often the interest on your account is credited and where.

Brokered CDs with Edward Jones do not automatically renew.

How to Purchase a CD Through Edward Jones

To open a brokered CD with Edward Jones, you’ll first need to set up a brokerage account with them if you don’t have one already. Edward Jones is a full service brokerage account with no minimum deposit requirements for account opening.

Opening up an Edward Jones brokerage account can be done online, however purchasing an Edward Jones brokered CD can not. For this you will have to go to a local office and fill out the paperwork. They will provide you with a prospectus to look over and discuss your options with you before you make any decisions.

As soon as your initial deposit clears, you are free to buy a new CD or a secondary CD through your Edward Jones broker.

Additional Deposit Accounts Offered Through Edward Jones

Edward Jones is a member of SIPC and deposit products with this firm are insured up to $250,000 per depositor.

In addition to its extensive suite of investment products and brokered CDs, this firm also offers money market funds and a cash management account.

Edward Jones Money Market Funds

Money market funds offered at Edward Jones, and most other brokerage firms, are not money market accounts. Money market funds are simply liquid mutual funds with good cash access. Money market accounts are federally insured deposit accounts with a guaranteed return of principal plus accrued interest.

Because money market funds are mutual funds with cash access, they do not guarantee that you will receive a full return on your principal.

On top of that, the cash in a money market fund may be used to invest in CDs or other short-term investments, but deposits into these funds are not FDIC insured.

Edward Jones money market funds are available as investment shares and retirement shares – both of these taxable options. You will be charged a $3 monthly maintenance fee for retirement share class money market funds with balances below $1,500 and a $3 monthly maintenance fee for investment share class money market funds with balances below $2,500. Talk with your advisor about cash and cash equivalents available for you to invest in with your money market fund—this will vary. 

There is no minimum investment required to open a money market fund and the current 7-day yield per share is 0.01%.

On the positive side, these money market funds make withdrawing and using money simple because they allow you to write unlimited checks and use a Visa debit card. Transactions and withdrawals are unlimited, unlike money market accounts.

Edward Jones Flex Funds Account (Cash Management Account)

An Edward Jones Flex Funds account is a cash management account that earns interest on your uninvested balance.

There is no annual fee and you can write up to 120 checks per year free of charge. This account is insured up to $1.5 million leveraging multiple banks’ $250,000 FDIC deposit insurance using the “Bank Sweep Program.”

With a Flex Funds account, you can set short-term savings goals for yourself and easily track your progress toward them. Your financial advisor can go through the details about how to strategize saving and investing with this account, but you have a lot of options and flexibility overall with a product like this.

Account Set-Up and Management

Edward Jones allows you to make quick and easy deposits into your account(s) and transfer funds electronically. You can enroll in online bill pay and link a direct deposit to one or more of your savings or investment accounts. Mobile check deposit is another feature included on the Edward Jones native apps for both Google Play and App Store. Though poorly rated, the apps are comprehensive and functional.

Final Thoughts

Edward Jones may be a more than satisfactory brokerage firm, but its brokered CDs do not offer competitive rates at this time. In fact, they fall short of the current national average for each of their respective terms.

Their money market funds and cash management account have some benefits, but more competitive account features and rates can be found through other brokerage firms.

Barclays Online Savings Account – Now 0.45% APY


image credit: banking.barclaysus.com

[Update January 2021: Barclays online savings account dropped from 0.50 to the current 0.45% APY.]

Although London-based, Barclays Bank has been around since 1690 and services just shy of 50 million customers worldwide, the online-only division was established in the US in 2003.

Barclays online deposit product suite is simple – with just an online savings account and a few standard term CDs.

In this review we will cover the variable-rate online savings account. It comes with a higher than average yield and no fees or minimum balance requirements.

Barclays was awarded the “Best Banks for Savings” rating by Nerdwallet in 2019 and its online savings account consistently competes with the top APYs on the market.

You won’t be able to do all of your banking in one place with Barclays as they do not offer a checking account or ATM card, but if you’re comfortable managing your savings digitally in the interest of earning better interest, Barclays online savings account might be a good fit for you.

Barclays Online Savings Account Details + Current Rate

Barclays has only one savings account, the Barclays Online Savings. This account offers a solid APY of 0.45% currently and has no minimum deposit requirements to open the account. Once the account is open there is also no minimum balance requirements. To get paid interest, however, you will have to maintain an average daily minimum balance of just $1.00.

Interest is compounded daily and credited monthly to your savings account or an external account.

Barclays is a member of the FDIC, so all accounts opened with them are insured up to $250,000 or $500,000 for joint accounts.

Minimum Balance to earn interestAPY
$1.000.45%

To give this offer some context, the current national average for a savings account sits at just 0.07% APY currently.

How to Open the Barclays Online Savings Account

You’ll need a few basic things to get started with your account. Here is the information Barclays will require:

  • Name
  • Address
  • Date of Birth
  • Phone Number
  • Social Security Number
  • Occupation

Funding the Account

Barclays will also ask for the necessary bank information of where you will be transferring funds from. For this, you will need:

  • your current bank account routing number
  • your current bank account number

As with many online banks, you will need to verify two small test deposits that Barclays credits to your account before funding it. If you are making your initial deposit via check you can use $0.00 for these fields. Just be sure to mail your check in asap.

You can deposit funds via any of the following methods:

  • you can set up direct deposits,
  • make remote deposits through the app or website,
  • transfer funds electronically through an ACH transaction,
  • or mail a check to the following address: Barclays P.O. Box 4538 Carol Stream, IL 60197

Once your online savings account is open, you can easily transfer funds to other accounts and other banks for free (though you will have to wait 2 – 3 business days for these to go through). You can do this up to six times per month without incurring fees per Federal Regulation D. For each transaction after that, you’ll be charged $5.

The other fee to potentially look out for is the $5 non-sufficient funds fee, which is still significantly lower than what most banks charge. For more information on fees, continue reading below.

Barclays Online Savings Account Fees

As mentioned, the account comes with no monthly maintenance fees and no monthly balance requirements. That said, depending on what actions you intend to take with this account, there may be some associated fees.

Barclays Online Savings Fees

TypeFee
Excessive Transaction$5 each after the sixth
Stop Payment$0
Cashier’s Check$5
Returned Item$5 each
Non-Sufficient Funds (NSF) Fee$5 per item
Statement Copy$0.50 per statement
Express Mail/Rush Delivery Charge$25
Legal Documents$0
Account Research$0

Please note that Barclays does not accept wire transfers at this time.

Barclays Online Banking Experience

Barclays has ATMs, but you won’t be able to access them if you’re an online-only customer because the Barclays Online Savings account does not come with an ATM card.

There is also no U.S. branch network. To access your funds, you’ll have to transfer them to another account or cash out checks. And remember, Barclays does not offer a checking account at this time.

So what do US consumers have to say about this online institution?

Reviews are very mixed.

Until recently, customers have generally been satisfied with their experience with this bank. Out of 220 reviews on DepositAccounts, the bank earned a 4-star customer rating. Out of 472 customer ratings on ConsumerAffairs, the institution earned about 3.2 stars. Finally, on WalletHub, Barclays scored a 3.8 out of 24.2 thousand user reviews—overall, the bank is rated somewhere between 3 and 4 stars out of 5. (Keep in mind, however, that some reviews are of the global company and not of the online, U.S.-based retail bank alone.)

In normal environments consumers seem to be satisfied with this bank, especially for its interest rates and the ease of use of its digital platform. But in the past few weeks, amidst the panic of COVID-19 and the worrisome financial situations of so many Americans that have resulted, Barclays has received an outpouring of overwhelmingly negative reviews. 

As customers seek help in the form of mortgage relief, advice, answers, and more, Barclays has allegedly become flaky and unpredictable. Many users have reported unexpected account closures and freezes and countless customers are unable to reach customer service representatives at all. Though this might not be the typical Barclays experience, you’ll want to decide for yourself whether Barclays is a bank you can trust using this information.

As for the Barclays mobile app, this scores a 4.8 out of 5 on Apple’s App Store and a 4.5 on Google Play. Users report that this app is functional and easy to navigate—if basic—though the general consensus seems to be that its quality declines with each required update. You can do your banking online if you prefer, and customer service can be reached at (888) 710-8756 Monday through Friday from 8 am to 8 pm or through the live chat function on the site.

Final Thoughts

Barclays online bank may meet your savings needs, but there are a few considerations you’ll want to take into account. 

For one, their customer service seems to be unsatisfactory, at least for the time being. This is a red flag that shouldn’t be ignored, especially when the bank in question is online-only and you won’t be able to go into a branch to have your questions answered and concerns heard.

For another, Barclays doesn’t have many products, so doing all of your banking in one place won’t be possible. There has been talk of an online checking account option becoming available, but this has yet to happen.

On the positive side, Barclays online savings accounts are available to a wide range of people as they have no minimum balance requirements or monthly maintenance fees. Plus, it comes with an APY that consistently competes with the top yields available.

Titan Invest Review: Hedge Fund Investing For Everyday People


image credit: titanvest.com

Titan Invest is a robo-advisor that offers investment services similar to those of a professionally managed hedge fund.

It was founded in 2018 by Joe Percoco, Clayton Gardner, and Max Bernardy and passed $150 million in assets under management in Q3 of 2020.

Joe and Clayton have several years experience in hedge fund investing between the two of them – working for companies such as Goldman Sachs, Cerberus Capital and McKinsey and Co.

Their technical co-founder, Max Bernardy, is a graduate of Stanford University with a degree in computer science. He has also been the technical lead for several early-stage technology companies prior to joining Titan Invest.

Titan Invest, as a platform, uses cutting edge technology combined with an innovative business model to provide users with access to world-class investment opportunities while letting their algorithms do all the heavy lifting. Investors can invest capital and track the growth of their portfolio through the highly-rated Titan app for Apple and Android.

Hedge funds are normally inaccessible to the average Joe and generally require one to be an accredited investor to participate. What Titan Invest aims to do is bring this investing technique to a demographic that hasn’t been privy to the opportunity in the past.

Titan Invest requires a minimum opening balance of just $500 (with a $100 transfer fee minimum) and calls itself an asset manager for millennials. Is this investment manager right for you? Continue reading our full review below.

What is Titan Invest and How Does it Work?

As with many conventional robo-advisors, Titan Invest constructs and manages your investment portfolio.

Where they differentiate themselves (other than the personalized hedge) is that they actually invest in individual stocks rather than traditional ETFs, which are a basket of different securities.

The individual stocks in which Titan places your money are limited to what Titan believes are the 20 highest quality companies on the market. These companies include household names and members of the S&P 500 such as Microsoft, Alphabet (Google), Apple and more.

After the individual stocks are selected, your portfolio is then provided an automated “personalized hedge.” The size of the hedge will be dependent on your personal risk tolerance which is assessed upon opening the account.

The range will be: conservative, moderate, aggressive. The more conservative you are as an investor (ie the less risk you can tolerate) the larger the hedge against your individual stock investment. This allows protection against severe price swings and overall market volatility. That said, it will not guarantee the protection of your principal investment and your overall portfolio could still lose money.

To get a better idea of how your funds are allocated based on your appetite for risk. Here is the general rule of thumb according to Titan (assuming your portfolio is not in a downturn):

  • Conservative Investor: Titan will allocate roughly 10% of your position to the short.
  • Moderate Investor: Titan will allocate roughly 5% of your position to the short.
  • Aggressive Investor: Titan will allocate closer to 0% of your position to the short.

If your portfolio is experiencing a downturn, the breakdown would look more like this:

  • Conservative Investor: Titan will allocate roughly 20% of your position to the short.
  • Moderate Investor: Titan will allocate roughly 10% of your position to the short.
  • Aggressive Investor: Titan will allocate closer to 5% of your position to the short.

Remember, the Personalized Hedge feature is fully-automated. There is no financial advisor behind the wheel. The way your Personalized Hedge self adjusts will be dependent on your portfolio’s performance relative to the S&P 500. If the performance of your portfolio starts declining against the S&P 500 for a period of time, more of your funds will be allocated to the hedge (and vise versa).

What is a Hedge Fund and How is Titan Invest Different

In a nutshell, hedge funds are pools of money contributed by investors with a fund manager whose mandate is to maximize returns for investors while mitigating risk through “hedging.”

You may not realize it, but you probably make financial “hedges” already in your life. Do you own a home? Did you purchase homeowners insurance on that home to protect against fires and break-ins? If so, then you’re essentially purchasing a hedge.

While hedging with stocks gets a little more complicated than simply purchasing insurance on the stock, the basic principle applies. You invest in an asset (the stock) and then purchase another financial instrument that pays out in the event of said asset losing value.

Hedge funds can invest in pretty much anything – stocks, real estate, land, currencies, etc. and are highly responsive to the market.

Titan Invest is not a hedge fund but provides clients a personalized hedge tool to protect capital in times of market downturns and high volatility. This tool aims to replicate the strategies used by hedge funds to outperform market returns in the long run.

Like hedge funds, Titan Invest accounts are highly responsive to the market. Titan re-adjusts its Flagship stock portfolio each quarter and intervenes when your stocks or overall portfolio enter a downturn.

Another key difference between Titan accounts and hedge fund accounts is liquidity. Whereas hedge funds lock up your funds to allow managers to back out of investments, Titan does not. When you invest with Titan, you can withdraw your funds whenever you want.

Finally, Titan costs its investors much less than the average hedge fund. Many hedge funds charge a very high performance fee, but as you will read about in the next section, this is not the case with Titan Invest.

Titan Invest Fees and Features

Titan charges an annual advisory fee of 1.00% and this encompasses all services. There are no performance fees of any kind unlike hedge funds that have historically charged up to 20% of the investor’s net profit for a calendar year. On top of that, Hedge funds generally charge a 2% asset management fee for their services as well.

This 2% asset management fee plus 20% performance fee has been dubbed two and twenty by those in the financial industry and it has come under fire by investors and politicians alike for a number of reasons.

Titan Invest Fees and Facts

TermDetails
Minimum Investment$100
Annual Fee1.0% of AUM over $500
Performance FeeNone
Lock UpsNone
Investor QualificationsUS only
Custody & ClearingApex Clearing
Legal CounselLowenstein Sandler LP
ComplianceGreyline LLC
SIPC InsuranceUp to $500k

If you’re thinking 1.0% of AUM annually is a little steep, that is because it is. Generally speaking, robo-advisors charge anywhere from 0.25% – 0.50% in annual fees.

Features and Perks

That said, there’s a nice remedy to lowering your annual fee if you can bring a few new customers into the Titan Invest family. Currently, when you refer people to Titan, they will knock 0.25% off your AUM for every person you successfully refer, with the potential of bringing fees to 0% if you can get four people. The best part is that the fee waiver is applied to your account for as long as you have it. You don’t have to refer new people every year.

Other than kickbacks for referring new clients, the Titan Invest platform also offers many additional features to its investors. These include:

  • personal digital vaults or separately managed accounts of your own,
  • fractional share trading,
  • access to a portfolio manager, and
  • the ability to make instant deposits. 

Titan Invest Account Types and Services

Titan offers two investment programs:

  1. Titan Flagship Program (launched in 2018), and
  2. Titan Opportunities (slated to launch in July 2020)

The primary difference between the Titan Flagship and Titan Opportunities (once it launches) is the size of the 20 companies in which Titan spreads your funds between. With Titan Flagship, the 20 companies are going to be made up of large household names. With Titan opportunities, the focus will be on smaller companies that are poised for exceptional growth.

Titan Flagship Program Details:

Number of Stocks20
MandateUS only
Median Market Cap$180 billion
Inception2/20/2018

Titan Opportunities Details:

Number of Stocks20
MandateUS only
Median Market Cap$5 billion
InceptionJuly 2020

Regardless of whether you choose Titan Flagship or Titan Opportunities, you’ll have the option to house these in a retirement account or individual investment account.

Titan invest offers both individual investment accounts and retirement accounts such as traditional IRAs, Roth IRAs and 401ks.

In the early Fall of 2019, Titan Invest began offering Individual Retirement Accounts (IRAs) as part of their suite of retirement products.

This means clients can now take advantage of everything Titan Invest has to offer in the way of low cost hedge-style investing BUT with the added benefits and tax advantages of an IRA. You can also roll over your 401(k) or 403(b) retirement accounts. They have a concierge system in place designated to roll those into your Titan account.

Titan Invest Historical Returns and Performance Review

Because Titan was founded in just 2018, there is limited data to draw upon, but the outlook thus far seems promising.

Per the June 2020 Performance Update, Titan clients were up +8 to +10%. Conversely, the S&P 500 was down -3% and Wealthfront and Betterment (other popular robo-advisors) were down -6% and -10%, respectively.

In the second quarter of 2020, Titan brought a +31% return and the S&P brought +21%. Titan attributes these high returns to three key drivers: idiosyncratic alpha, big tech rebound, and flight to quality. Full hedges remain activated.

Since its founding in 2018, Titan Invest is up +37% total. The S&P 500 has gone up +19.6% since then, Wealthfront +7.6%, and Betterment just +0.5%. 

image credit: titanvest.com/strategy

These numbers speak for themself. Titan Invest, through outstanding research and planning, has proven itself to be a force to be reckoned with. In just over two years, its investors have seen higher returns than they otherwise likely would through another robo-advisor or hedge fund.

Keep in mind that this data is for Titan’s Flagship strategy. Titan Invest is in the process of developing a second strategy, Titan Opportunities, that will focus on identifying smaller U.S.-based companies that are expected to see high growth rather than investing in companies that are already at the top.

Is Titan Invest Safe?

Any reasonable person is going to wonder whether their money is actually going to be safe in an investment account operated by an algorithm.

The answer here is basically yes, or at least as safe as any robo-advisor or digital investment platform can be.

Titan Invest is not any more unsafe than other investment accounts, brick-and-mortar or otherwise. It uses high tech security encryption and is insured by the Securities Investor Protection Corporation.

SIPC covers accounts up to $500,000 and all data flow is encrypted using 256-bit encryption and SSL.

Final Thoughts

Millennial or not, Titan Invest presents many advantages.

You don’t need to be fabulously wealthy to begin and you don’t need to do much of anything to maintain your account.

You’re given tools that have historically only been available to financially privileged clients and the returns thus far have been eye-catching.

On the flip side, the 1.0% annual fee is certainly above average for robo-advisors and the historical returns, while substantial, only go back two years.

That said, Titan Invest does do a good job of providing clients with a way of recouping some (or all) of the annual fee by referring new clients at 0.25% each.

Suncoast Credit Union CD Rates – Up to 0.95% APY!


image credit: suncoastcreditunion.com

Suncoast​ is the largest credit union in Florida and the tenth largest credit union in the U.S. by asset size.

Founded in 1934 as the Hillsborough County Teachers Credit Union by a small group of teachers, Suncoast got its start serving only school employees. For many years, it was a federal institution called the Suncoast Schools Federal Credit Union and only transitioned back to a state credit union, assuming the name it has now, in 2013.

Today and since 2013, membership is not career-dependent. Suncoast serves 884,024 educators and non-educators alike across Florida. However, Suncoast membership isn’t open to everyone.

To be eligible to join, you have to live in Florida yourself, be a graduate of Florida College, or be related to someone that’s already a member.

Suncoast Credit Union CD rates are currently providing yields that are much higher than the national average for each respective term. They were recently featured in our December 2020 report of the best CD rates in Florida.

Suncoast Credit Union CD Rates + Details

Suncoast deposits and savings are federally insured by the NCUA (FDIC equivalent for credit unions) up to $250,000. A traditional share certificate requires a minimum opening deposit and average daily balance of only $500.

Suncoast Credit Union CD Rates

CD TermAPY
6 month0.30%
12 month0.40%
18 month0.45%
24 month0.55%
36 month0.70%
48 month0.85%
60 month0.95%

To put these yields above in perspective, the current national average for a 12 month CD and a 60 month CD sit at just 0.16% APY and 0.33% APY according to FDIC data.

An early withdrawal fee of 90 days interest is charged if you withdraw funds from CDs with terms of 12 months or less and 180 days interest is charged for early withdrawals on terms 12 months or more.

Dividends for these accounts are compounded daily and credited monthly. You can choose to have your interest credited back into the CD or deposited into another account – either external or internal to Suncoast – without incurring any fee.

Jumbo certificates of $100,000 or more are also sold through Suncoast Credit Union. In normal market conditions, these products earn higher fixed rates than regular share certificates with lower balances, however, Suncoast and many other institutions have their yields much more inline with standard CDs at the moment.

Suncoast Credit Union Jumbo CD Rates

CD TermAPY
6 month0.30%
12 month0.40%
18 month0.45%
24 month0.55%
36 month0.70%
48 month0.85%
60 month0.95%

In addition to their standard CDs and jumbo CDs, Suncoast Credit Union also offers a ​Smart Start certificate account​.

The 12 month Smart Start certificate allows you to make deposits on a schedule rather than up front. It can be opened with just $50 and comes with an APY of 0.50%. After your initial deposit, you’ll need to schedule automatic payments of at least $40 per month from your payroll or another account. All of the restrictions and fees listed above for regular share certificates apply for Smart Start certificates.

To open a Suncoast CD, visit a branch, send an email through online banking, or contact the Member Care Center​ at ​813-621-7511 or 800-999-5887.

Suncoast Credit Union Money Market Rates + Account Details

Suncoast Credit Union’s current money market rates are much less competitive than their CDs. And although the national average for money market accounts sits at around 0.11% APY, better rates with more flexible balance requirements can be found online.

Suncoast Credit Union Money Market Rates

BalanceAPY
$0 – $999.990.50%
$1,000 – $24,999.990.20%
$25,000 – $49,999.990.25%
$50,000 – $99,999.990.30%
$100,000 – 149,999.990.35%
$250,000+0.40%

Dividends are compounded daily and paid monthly. Your balance can drop below $1,000 without incurring any fees, but you’ll stop earning interest as soon as that happens. You can easily access your money online or through the mobile app, but you’re allowed only six transactions per month, which is required by law per regulation D. If you need to make more than six transactions you’ll want to stop by a branch and check with someone in person.

Other Savings Accounts Offered by Suncoast Credit Union

A regular share membership is the savings account that you open when you first become a Suncoast member. This account comes with an APY of just 0.15%. We wouldn’t recommend using it to grow your savings given the paltry APY but it is required to be a member. Currently, it requires an opening deposit and average daily minimum balance of just $5 to stay open and maintain membership with the credit union.

There are also the student savings, health savings, and special share savings accounts. A special share savings is just a savings account you can have in addition to your regular share membership savings account and it earns the same rate. The only difference is that it does not require a minimum balance because it does not count as your share in Suncoast Credit Union.

A student or youth savings account is simply a certificate account that earns the same tiered rates as the standard Suncoast CDs but requires a minimum opening balance of only $500 – making it more manageable for students.

About Suncoast Credit Union + Eligibility

Suncoast has exactly 895,000 members as of mid 2020 and this figure has been growing steadily each year. The composition of Suncoast Credit Union’s Financial statements are as follows:

Deposits: $9,832,734,549

Loans: $8,566,015,257

Assets: $11,100,632341

Suncoast Credit Union is headquartered in Tampa, Florida and serves communities across the state. There are ​68 branch locations​ in 40 Florida cities and hundreds of Suncoast branded ATMs. Though it is a state credit union and does not participate in co-op shared branching with other institutions, Suncoast ​does​ have over 30,000 ATMs with other credit unions across the nation. Use the Suncoast site to find a branch location, Suncoast (surcharge-free) ATM, or co-op ATM near you.

Suncoast membership is, of course, residency or geography based. However, you don’t necessarily have to be a current Florida resident to be eligible to join. To qualify for membership, you must:

  1. Have an immediate family member that is a Suncoast member
  2. Live in a qualifying county (see below)
  3. Be a graduate of ​Florida College

Qualifying Florida counties​ include:

  • Alachua
  • Brevard
  • Broward
  • Charlotte
  • Citrus
  • Clay
  • Collier
  • Desoto
  • Dixie
  • Duval
  • Gilchrist
  • Glades
  • Hardee
  • Hendry
  • Hernando
  • Highlands
  • Hillsborough
  • Indian River
  • Lake
  • Lee
  • Leon
  • Levy
  • Manatee
  • Marion
  • Martin
  • Miami-Dade
  • Monroe
  • Orange
  • Osceola
  • Palm Beach
  • Pasco
  • Pinellas
  • Polk
  • Sarasota
  • Seminole
  • St. Johns
  • St. Lucie
  • Sumter
  • Volusia

Final Thoughts

Suncoast Credit Union may be the tenth largest credit union in the nation, but it’s not a national credit union and there’s no way around its limited eligibility policies. This is important to keep in mind, as only those in Florida or otherwise tied to the state will have access to in-person branches or membership in general.

The APYs on Suncoast Credit Union’s savings products are competitive when benchmarked against the current national averages for each respective term, however more competitive variable rate accounts can be found through online banks and other credit unions with nationwide acceptance offer slightly higher CD rates.

Pawtucket Credit Union CD Rates – Still up to 0.70% APY


[Update January 2021: Pawtucket’s Credit Union’s CD rates remain the same to start the new year. The only APY change that has occurred within their deposit suite since May of last year has been their promotional 15 month “Easy Access” CD which lowered from 0.55% APY to 0.50% APY.]

[Update May 2020: Pawtucket lowered the APY on their standard CDs, IRA CDs and promotional deposits.]

[Update April 2020: Pawtucket lowered the APYs on their 6 month and 18 month CDs for both standard deposits and IRA CDs.]

Pawtucket Credit Union, based out of Pawtucket, Rhode Island, has consistently provided savers with above average rates over the years despite an unfavorable landscape for savers in general.

Up until February of 2020 they had one of the highest yielding 6 month CD rates in Rhode Island. However, given the FED’s recent rate drop to near zero, the annual percentage yields have come down some, but still offer respectable APYs.

Below you’ll find Pawtucket Credit Union’s CD rates and any available promotional CD offers.

If you live in Rhode Island or have family members who do that can assist you in getting membership, then you may want to consider one of Pawtucket’s deposit products.

Who Is Eligible To Join Pawtucket Credit Union

Although Pawtucket Credit Union doesn’t make it clear on their website who is eligible for membership we called them and confirmed that you would have to be a resident of the state – OR – have family in the state that could co-sign an account for you.

DepositAccounts states that they also accept a few neighboring counties in Massachusetts and Connecticut although we weren’t able to confirm that over the phone.

About Pawtucket Credit Union

Founded in 1926 Pawtucket Credit Union is the largest credit union in the state of Rhode Island with more than 110,000 members and assets exceeding $2.1 billion.

What’s also noteworthy is that they’ve seen incredible deposit growth despite a sluggish savings rate environment. Pawtucket Credit Union now has more than $110m in non-brokered deposits under their roof with an annual growth rate of more than 7% despite falling rates nationwide.

Pawtucket Credit Union’s CD Rates

Pawtucket Credit Union has certificates of deposit that can be opened online and certificates of deposit that can be opened by visiting one of their 15 branch locations.

When browsing Pawtucket Credit Union’s deposit rate page look for the little blue button titled “Open Now” to see whether or not it can be opened online. If there is no blue button, then you must go into a branch.

You’ll see the button next to the product name if it can be opened online. See below.

Below are all of Pawtucket Credit Union’s standard certificates of deposit and their APY. All of these standard CDs come with a minimum deposit requirement of $1,000.

CD TermAnnual Percentage Yield (APY)
3 month*0.40%
6 month*0.60%
9 month*0.40%
12 month0.40%
18 month0.55%
24 month0.60%
36 month0.70%
48 month0.70%
60 month0.70%

*Their 3 month, 6 month and 9 month CDs calculate interest using simple interest, the rest are compounded daily.

Below are Pawtucket Credit Union’s IRA CDs and APY. They currently provide the same yield as their standard CD counterparts, however, they come with a lower minimum deposit requirement of $500 and, unfortunately, none of them can be opened online.

IRA CD TermAnnual Percentage Yield (APY)
3 month*0.40%
6 month*0.60%
9 month*0.40%
12 month0.40%
18 month0.55%
24 month0.60%
36 month0.70%
48 month0.70%
60 month0.70%

*Their 3 month, 6 month and 9 month IRA CDs calculate interest using simple interest, the rest are compounded daily.

15 month Easy Access CD

Pawtucket Credit Union is running a CD promotion with a 15 month term called their “15 month Easy Access CD.” This product has a minimum deposit requirement of $5,000 and comes with an APY of 0.50%.

Here’s what you’ll get with the 15 month easy access CD:

  • Two penalty-free withdrawals allowed during the 15 month term.

To avoid penalty, withdrawals must be more than 6 days after account opening, and more than 6 days following each partial withdrawal; otherwise, penalty as described below for early withdrawal. Offer not applicable for retirement accounts.

You’ll also want to note, that like the 3 month, 6 month and 9 month standard CDs and IRA CDs, this 15 month easy access CD also uses simple interest rather than compounding your interest daily.

Final Thoughts

If you live in Rhode Island and are in the market for a solid APY on an FDIC-insured or NCUA-insured savings product, then keep your eye on Pawtucket Credit Union’s CDs.

Although their rates were lowered with the latest FED move, they regularly keep their APYs above the national average on many of their standard certificates of deposit products and regularly offer promotional CD’s with generous rates as well.