"Member Benefits: Offer from banking/mortgage program." April 14, 2005. NYSUT: A Union of Professionals. www.nysut.org
NYSUT - A Union of Professionals
  
 

Member Benefits: Offer from banking/mortgage program

 

New York State United Teachers Member Benefits offers members and agency fee payers Preferred Savings PlusSM from MetLife Bank®. While most members have an established banking relationship with a local bank or credit union, Preferred Savings Plus provides an easy vehicle for members to build up their savings in a high-interest-bearing account. MetLife Bank offers NYSUT members some of the highest interest rates in the country on certificates of deposit, money markets and savings accounts, all FDIC-insured for up to $100,000.

MetLife Bank is now offering a special promotion. NYSUT members who open a money market or high-yield savings account with an initial deposit of at least $5,000 may be eligible to receive a $50 bonus. To be eligible, the initial $5,000 deposit must be received by MetLife Bank no later than May 30. A minimum balance of $5,000 must be maintained for at least 90 days from the date the account is funded. MetLife Bank will credit the new money market or high-yield savings account with a $50 bonus approximately 90 days after it has received the initial $5,000 deposit. Be sure to mention promotion code CPN11. One bonus is allowed per member.

In addition, MetLife Bank offers home financing programs with several service guarantees through its relationship with PHH Mortgage Services, one of the nation's largest lenders.

Certificates of deposit are available in many terms to suit your short- and long-term investment needs. The minimum amount required to open a CD is $1,000.

Money market accounts and high-yield savings accounts offer a high rate of return on your money. Whether you are setting aside funds for a rainy day, saving toward a special occasion or waiting for the right investment, you will have quick and easy access to your account information by phone, Internet, mail or ATM 24 hours a day, seven days a week.

With the money market account, you can receive up to a $5 reimbursement per statement cycle when accessing non-MetLife Bank ATMs, no minimum deposit is required and your first order of 30 standard checks is free.

With the high-yield savings account, a minimum deposit of $50 is required.

Starting your savings plan is easy with the Automated Savings Plan. With Automated Savings, MetLife Bank makes regular transfers from your current checking account at another bank to your new money market or savings account. It's an easy way to build your balance. To get started, speak to one of the banking advisers after opening your account.

Using Preferred Savings Plus from MetLife Bank assures you will receive some of the best returns on your money. For more information about savings, mortgages, or to open an account, call (866) 697-8822), or visit www.memberbenefits.nysut.org online.