Might want to look at their stock price(s) to see what Wallstreet thinks of them.
UB Union Bank is trading close to it’s high – that is a clue. Beyond that, they are a very conservative bank. Their CD rates stink, but frankly in this environment, I’m not chasing high CD rates anymore….can make more money in the stock market anyway (on the short side).
The fact that Wamu was/is offering a 5% CD tells me just how desperate they are – I would stay away! I don’t think they will survive much longer. I actually closed my last account with them last month. Had less than 100K but just didn’t want the hassle when they shut their doors (just my opinion of course).
Bank of America is also offering a decent short term rate and they will be one of the few that will survive, but not without more pain to come.
Wells Fargo is also supposed to be safe (but in this environment, you never know).
