Thoughts on “10 Ways to Make CDs Cool Again” from Haberfeld President

illustration of a thought bubble

A follow-up to our last blog “10 Ways to Make CDs Cool Again” By Achim Griesel

When is the last time you saw Chase, Wells Fargo or Bank of America compete for time deposits?

The answer to this question used to be NEVER – but not anymore. Browsing through their public website, it seems that the competition is heating up. Below are the rates Wells Fargo is offering in western Iowa today.







When a megabank prices like this, we know that the days of focusing only on the online banks and local community financial institution competitors are gone. When you set your pricing, you have to take the time to look at your local rate survey analysis. A major bank offering much more competitive rates will have a much larger impact on the movement of deposit funds. This is one solid signal that the end of any remaining elements of the “cease fire” for deposits with financial institutions of all dimensions is near. One way to stand out in the crowd will be to move on from the static rate sheet, price matches and specials. Are you ready for that?


*Data obtained from

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