Emigrant Direct Unveils 5.15% Money Market Rate

In the letter I got from Emigrant Direct, they say that they will be raising their money market account rates to 5.15% starting July 28! That is going to be HOT.

I have already scheduled to take money out of my ING Direct Orange Savings Account to deposit into my Emigrant Direct American Dream Savings account. 5.15% is an AWESOME rate, putting Emigrant Direct back to the #1 spot on the best money market rates.

Emigrant Direct Bank is a member of the FDIC, and a bank that was first founded by Irish Immigrants in 1850. In just seventy years time, the Emigrant Direct Bank grew to be one of the leading banks in the financial industry. As of 2006, the Emigrant Direct Bank has nearly 14 billion dollars in assets, and carries a net worth of more than 890 million dollars. Emigrant Direct Bank is directly affiliated with RegionalBanks and together has a net worth equivalent to 1.1 billion dollars. Emigrant Direct Bank currently has 35 banks located in New York and the company supplies home loans to residents of New York and in nineteen additional states.

Emigrant Direct Bank offers online services and is a subsidiary of Emigrant Bank. Emigrant Direct Bank offers online savings, online checking and ensures that there are no hidden fees or costs associated with such accounts. Emigrant Bank is actually one of the oldest financial institutions established in the state of New York and it was originally created by immigrants to serve the banking needs of immigrants. Emigrant Savings Bank was reorganized in 2005 and was separated into five regional banks Emigrant Savings Bank – Manhattan, Emigrant Savings Bank – Bronx/Westchester, Emigrant Savings Bank – Brooklyn/Queens and Emigrant Savings Bank – Long Island.

Emigrant Direct Bank focuses on consumer banking and offers checking accounts, certificates of deposit, savings accounts, money market accounts, residential mortgages, passbook loans, individual’s retirement accounts, credit cards and debit cards to its customers. Customers will also find that life insurance is available at Emigrant Direct Bank as well as an array of investment opportunities.