NEW YORK – RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for two-year CD rates decreased by one basis point, while all other durations remained unchanged this week as the Federal Reserve has continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.

“Two-year CD rates have witnessed the only fluctuation in the past three weeks. This is telling as Fed Chairwoman Janet Yellen last week told market observers that the central bank could begin to raise interest rates as soon as six months after the end of tapering,” reported Joe Deaux, TheStreet’s Economics Analyst. “Yellen’s key comment coupled with the majority of policy makers forecasting the federal funds rate to reach 1% by 2015 means savers may have just received their biggest signal that rising CD rates, especially for longer durations, are at hand.”

NATIONAL AVERAGE RESULTS - $10K

Avg Rate This week

Avg Rate Last week

Money Market

0.15%

0.15%

1 month CD

0.11%

0.11%

3 month CD

0.15%

0.15%

6 month CD

0.23%

0.23%

1 year CD

0.36%

0.36%

2 year CD

0.55%

0.56%

3 year CD

0.75%

0.75%

4 year CD

0.92%

0.92%

5 year CD

1.13%

1.13%

In the Greater Richmond Region area, the average 5-year CD rate sat at 0.98%, lower than the national average of 1.13%. Rates on the 5-year CD ranged from 0.15% on the low end to 2.02% at the high end, which can be found at Franklin Federal Savings Bank. The average 3-year CD rate in Greater Richmond Region was 0.59% with a range of 0.13% to 1.1% found at Essex Bank. And if you are on the market for a 1-year CD, take a look at Essex Bank, which currently offers a rate of 0.55% as compared to the Greater Richmond Region average of 0.24%. Other top rate issuers can be found in the tables that follow.

GREATER RICHMOND REGION AVERAGE RESULTS - $10K

Avg Rate This
week

Highest Available
Rate

Highest Available Rate Issuer

Money Market

0.13%

0.3%

Franklin Federal Savings Bank

1 month CD

0.06%

0.1%

Capital One, National Association

3 month CD

0.07%

0.15%

Middleburg Bank

6 month CD

0.14%

0.4%

Franklin Federal Savings Bank

1 year CD

0.24%

0.55%

Essex Bank

2 year CD

0.39%

0.7%

Essex Bank

3 year CD

0.59%

1.1%

Essex Bank

4 year CD

0.7%

1.51%

Franklin Federal Savings Bank

5 year CD

0.98%

2.02%

Franklin Federal Savings Bank

TOP RATE ISSUERS - $10K

This is a list of issuers with top interest rates in the Greater Richmond Region area. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed.

Money Market

Financial Strength
Rating

Minimum to Earn
Interest ($)

APY(%)

Franklin Federal Savings Bank
804-967-7024
www.franklinfederal.com

B-

10000

0.3

Middleburg Bank
877-369-5200
www.middleburgbank.com

C+

2500

0.2

Essex Bank
804-556-6722
www.essexbank.com

C+

5000

0.2

EVB
804-559-9000
www.bankevb.com

D

10000

0.15

Gateway Bank & Trust Company
804-320-1397
www.gatewaybankandtrust.com

D+

1000

0.1

1 Month CD

Financial Strength
Rating

Minimum to Earn
Interest ($)

APY(%)

EVB
804-559-9000
www.bankevb.com

D

1000

0.1

Capital One, National Association
804-273-1144
www.capitalone.com

C+

1000

0.1

First Community Bank
804-748-4204
www.fcbresource.com

B-

1000

0.088

Gateway Bank & Trust Company
804-320-1397
www.gatewaybankandtrust.com

D+

500

0.05

StellarOne
804-448-4345
www.stellarone.com

B

1

0.05

3 Month CD

Financial Strength
Rating

Minimum to Earn
Interest ($)

APY(%)

Middleburg Bank
877-369-5200
www.middleburgbank.com

C+

500

0.15

EVB
804-559-9000
www.bankevb.com

D

1000

0.1

Capital One, National Association
804-273-1144
www.capitalone.com

C+

1000

0.1

First Community Bank
804-748-4204
www.fcbresource.com

B-

1000

0.1

Gateway Bank & Trust Company
804-320-1397
www.gatewaybankandtrust.com

D+

500

0.05

6 Month CD

Financial Strength
Rating

Minimum to Earn
Interest ($)

APY(%)

Franklin Federal Savings Bank
804-967-7024
www.franklinfederal.com

B-

500

0.4

Essex Bank
804-556-6722
www.essexbank.com

C+

500

0.3

Middleburg Bank
877-369-5200
www.middleburgbank.com

C+

500

0.2

First Community Bank
804-748-4204
www.fcbresource.com

B-

1000

0.12

EVB
804-559-9000
www.bankevb.com

D

1000

0.1

1 Year CD

Financial Strength
Rating

Minimum to Earn
Interest ($)

APY(%)

Essex Bank
804-556-6722
www.essexbank.com

C+

500

0.55

Franklin Federal Savings Bank
804-967-7024
www.franklinfederal.com

B-

500

0.5

Gateway Bank & Trust Company
804-320-1397
www.gatewaybankandtrust.com

D+

500

0.45

Middleburg Bank
877-369-5200
www.middleburgbank.com

C+

500

0.4

EVB
804-559-9000
www.bankevb.com

D

1000

0.2

2 Year CD

Financial Strength
Rating

Minimum to Earn
Interest ($)

APY(%)

Essex Bank
804-556-6722
www.essexbank.com

C+

500

0.7

Middleburg Bank
877-369-5200
www.middleburgbank.com

C+

500

0.65

Franklin Federal Savings Bank
804-967-7024
www.franklinfederal.com

B-

500

0.6

Gateway Bank & Trust Company
804-320-1397
www.gatewaybankandtrust.com

D+

500

0.6

Fulton Bank, National Association
804-565-4400
www.fultonbank.com

B-

1000

0.45

3 Year CD

Financial Strength
Rating

Minimum to Earn
Interest ($)

APY(%)

Essex Bank
804-556-6722
www.essexbank.com

C+

500

1.1

Gateway Bank & Trust Company
804-320-1397
www.gatewaybankandtrust.com

D+

500

1.06

Franklin Federal Savings Bank
804-967-7024
www.franklinfederal.com

B-

500

1.0

Middleburg Bank
877-369-5200
www.middleburgbank.com

C+

500

0.9

Fulton Bank, National Association
804-565-4400
www.fultonbank.com

B-

1000

0.75

4 Year CD

Financial Strength
Rating

Minimum to Earn
Interest ($)

APY(%)

Franklin Federal Savings Bank
804-967-7024
www.franklinfederal.com

B-

500

1.51

Gateway Bank & Trust Company
804-320-1397
www.gatewaybankandtrust.com

D+

500

1.35

Fulton Bank, National Association
804-565-4400
www.fultonbank.com

B-

1000

1.3

Middleburg Bank
877-369-5200
www.middleburgbank.com

C+

500

1.0

First Community Bank
804-748-4204
www.fcbresource.com

B-

1000

0.681

5 Year CD

Financial Strength
Rating

Minimum to Earn
Interest ($)

APY(%)

Franklin Federal Savings Bank
804-967-7024
www.franklinfederal.com

B-

500

2.02

Gateway Bank & Trust Company
804-320-1397
www.gatewaybankandtrust.com

D+

500

1.75

Fulton Bank, National Association
804-565-4400
www.fultonbank.com

B-

1000

1.75

Essex Bank
804-556-6722
www.essexbank.com

C+

500

1.26

Middleburg Bank
877-369-5200
www.middleburgbank.com

C+

500

1.15

Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 96,000 financial institution locations across the United States.

More About CDs:

CDs, or certificate of deposits, are bank-issued promissory notes wherein an investor deposits money for a set amount of time and, provided the money remains untouched, receives interest on the total sum when the investment matures.

While the money can't be accessed during that time (without incurring penalties), the advantage of a CD over a regular savings deposit is the higher rate of interest. Typically, a CD can be taken out on as few as three-month terms but can range to up to five years; generally, the longer the timeframe the higher rate of interest.

CD Laddering:

To provide further financial security, a CD laddering strategy offers conservative investors the opportunity to stagger their capital across numerous deposits set to expire at different intervals. Not only does this hedge against variable rate fluctuations by offering a guaranteed return at a locked-in interest rate, it also increases liquidity given that one CD will mature at predictable and established intervals.

Using an example of a five-year ladder strategy, an investor would divide his or her money amongst one-, two-, three-, four-, and five-year CDs. Once the one-year deposit matures, he or she will reinvest the money into a five-year CD, and will do so every subsequent year upon each CD's maturation. In this way, the investor has a CD that matures each year and thus, steady income from the interest on the maturing investments.

Nevertheless, investors must keep in mind that the onus of developing a ladder strategy is on the investor, not the bank or financial institution. In developing a strategy, map out each rung of the ladder, determining how long you want to invest for, the kind of return you are targeting and the length of time you can tolerate not having access to the principal and interest.

About RateWatch

For over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States. Consistently providing top quality, highly relevant data RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 96,000 locations. Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available. To learn more about RateWatch, visit www.rate-watch.com. RateWatch is a division of TheStreet, Inc.

National Average is calculated using one unique rate per institution.Averages are based on Banks, Savings & Loans, Brokers and Internet Banks with assets greater than $1 Billion.