It has been upped to 4.66%.
Please correct the heading

compound said:UMBRELLABANK.COM SAFETY RATING HAS FALLEN TO ONE STAR ON BANKRATE.COM


Does it really matter?
Bankrate.com has no credibility anymoreee.
They just push up those who advertise at their site.

Did anyone ever wonder how this bank got itself such a funny name ?

Why "Umbrella" Bank ?

Maybe the founders of the bank got drenched in the rain on the way to the Office of Thrift Supervision when they were trying to get the bank started, and UMBRELLAs were the only things on their mind that day ?

I wonder how it would feel like to have an account at "The Raincoat Bank", or "The Spare Tire Bank", or "The Fresh Clean Pair of Socks Bank"....

Anakin

anakinskywalker said:Did anyone ever wonder how this bank got itself such a funny name ?

Why "Umbrella" Bank ?


probably the same reason that Travelers insurance had a red umbrella for a logo before they merged with St. Paul? Probably has nothing to do with the weather, but more about protection and safety

Rate just raised to 4.75 APY (over 1000)

twins0203 said:I'm currently using Umbrella Bank to store my savings and AOR money. I like their quick CS help and their rates have been nice.

Is the rating BankRate gives worth worrying over?
No need to worry as long as you stay under $100k

Rate increased again now 5.10% if balance is over $1000

dolmar said: ............

I called up Superior Savings Bank they do not offer ACH transfer at all. So even tho they pay 4.50% seem to be a pain to get money in and out of them.

Thank you

i just noticed this post and since i have a superior account i thought i'd mention that i have a free checking account too there which is i linked to an emigrant acct so i can pull money from superior through emigrant or write checks after calling the bank to transfer the money i want. i keep $1 in that checking acct.

itsausername said:The popular Pot 'O Gold MM is now yielding 5.20% (max).

They are now using a rate tiering system...good for some:

<$1,000 0.60%
$1,000-$4,999 5.10%
$5,000-$9,999 5.10%
$10,000-$24,999 5.10%
$25,000-$49,999 5.16%
$50,000 and over 5.20%


The good part is that you don't have to work yourself up the ladder but the whole account earns the rate at what the average balance is.