I got from ShoreBank Email
Dear ShoreBank Direct Applicant,
As you know, the Federal Reserve has been cutting rates. In line with this new environment, ShoreBank is lowering the interest rate on the online high-yield savings account. We wanted to let you know that as of February 1, 2008, our high-yield savings account will earn 4.15% APY*.
The ShoreBank high-yield savings account continues to offer an unbeatable combination: a competitive rate, the convenience of 24-hour online banking, the security of FDIC insurance, and the knowledge that your deposits are funding initiatives like the Rescue Loan Program, which helps homeowners like Chicago’s Villareal family avoid foreclosure by replacing their adjustable-rate mortgages with fixed-rate loans that save them hundreds of dollars a month. As a customer of ShoreBank, you make a positive impact, every day.
We want you to know what is happening with your money. We will continue to update you regularly on changes affecting your account and on the impact that your dollars are having in communities around the country.
Thank you for choosing ShoreBank!
The Team at ShoreBank Direct
ShoreBank Direct
PO Box 497837
Chicago, IL 60649-7837
1-888-864-HYSA (4972)
Member FDIC
*The Annual Percentage Yield (APY) is effective as of February 1, 2008, and is subject to change without notice. APY is valid only with a ShoreBank online high-yield savings account. Fees could reduce earnings on the account. A minimum balance of $1.00 is required to open the account and obtain the stated APY.
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