I've lived in Chicago, Southern California, and Orlando in the last 5 years so of course the market I know best is Omaha. No, actually, I, like many people, don't know anything about Omaha. I've driven through there a few times but that's about it. So why am I writing about Omaha on a blog about personal finance?
The reason I am writing about Omaha is FNBO Direct. FNBO Direct is offering a 6.00% APY savings account. I had previously written about Emigrant Direct and their 5.15% account (currently it is at 5.05% APY) but FNBO Direct has made me a convert. I do not change accounts often. It's a pain to fill out the applications, wait for the approvals, transfer funds from one savings account to my checking account and out to the other savings account, not to mention the small hit against my credit record. But, the reates just keep getting better and better. I started with ING Direct when they offered 4+%, switched to Emigrant Direct when they offered more than 5%, and now I am with FNBO Direct at 6% APY. With inflation still at a moderate level and with the dollar tanking worldwide it's a good idea to make what you can with the money you have.
So far I am pleased with FNBO Direct. They made the application process simple, their website is laid out well for the most part (I'm not a big fan of the Transfers section), and they have comprehensive security measures in place. According to their website the 6% APY is valid at least until September 28, 2007 so even if it drops a bit after that point I will have still gotten a full four months of the rate.
Give it a try. If you are going to save you might as well save wisely.
