Now Offering Laddering Option for Bank CDs for Credit Unions

January 29, 2009
By Kevin Cafferty

Another big announcement today:

MoneyAisle Now Offering Laddering Option for Bank CDs for Credit Unions

Here's an excerpt:

The first of its kind in the industry, MoneyAisle's CD laddering feature enables Credit Unions, as well as non-profits, financial planners, and businesses, to perform sophisticated, automated CD laddering across multiple durations in a single session across multiple FDIC-Member banks. The system runs simultaneous auctions for each of the chosen durations, and displays the round-by-round bids and constantly increasing rates until the highest rates available in the MoneyAisle network for each of these durations are achieved. At the end of the auction, MoneyAisle computes the optimal combination to maximize the overall APY of the ladder within the Credit Union's specified constraints.

"We found MoneyAisle to be very quick and easy to use. This provides a great alternative for our credit union to receive high yields with strong FDIC insured banks. Service and support has been excellent," said David Bieneman, Vice President and Chief Financial Officer of State Central Credit Union, a credit union based in Milwaukee, Wisconsin.

Add a Comment

  • Featured In:

  • The New York Times: Do I Hear 4%? On This Site, Banks Bid for Your Cash
  • CNN: Auction money for best rates
  • The Wall Street Journal: Want the Best CD Rates? Hold an Auction.
  • AARP Bulletin: Save a Buck: Find Highest Interest Rates Online
  • Safe CDs, checking accounts for investors scared of stocks
  • O: The Oprah Magazine
  • Boston Globe: Website lets banks bid for customers
  • CNBC: Banks Bid for Your Cash
  • MIT Technology Review
  • Money Magazine
  • Reader's Digest
  • FOX Business: Bidding for Your Money

Recent Awards: Finovate Best of Show and Online Banking Report Best of the Web