Customers Phillipa Lyttle and Gregory Hill personify the 'Serious Saver,'
starting with a 529 college savings plan for their daughter. New York
couple now has CDs, a money market and savings account
THOUSAND OAKS, Calif., April 17 /PRNewswire/ -- Countrywide Bank, FSB,
a member of the Countrywide Financial Corporation (NYSE: CFC) family of
companies, today reiterated its message that one of the smartest money
moves one can make is to pay yourself by saving at least a portion of your
company bonus or the tax return you receive from the Internal Revenue
Service.
"Consumers are realizing that there's simply no advantage to having
your money tied up in a traditional passbook savings account which, in some
cases, are paying less than two percent in annual interest," said
Countrywide Bank Managing Director Pierre P. Habis. "My recommendation to
everyone is to
https://bank.countrywide.com/scontent.aspx?cmtag=Content-SavingsLink [get
serious about saving] by reevaluating your personal savings plan and
depositing some of your tax return or annual bonus into a high-yield
savings account, and then automating that account with a regular deposit
amount," continued Habis. "Our customers Phillipa Lyttle and Gregory Hill
are a great example of how it's possible to put this concept into action."
Habis, who is Countrywide Bank's head of Retail Banking and Investment
Services*, also reminds people who have maturing CDs that it's a good time
to start shopping for the best rates. "We're seeing most maturing CDs
coming in at about 4.85 percent Annual Percentage Yield (APY)," said Habis.
"So, if your time deposits are with another financial institution today,
consider opening a 12-month CD at Countrywide Bank at 5.15 percent APY. You
could gain up to an extra 20 to 30 basis points from what you were
previously earning."
Serious Saver Spotlight
Phillipa Lyttle and Gregory Hill weren't dedicated savers until they
started banking with Countrywide Bank in 2006. Since then, they have opened
numerous accounts, including a 529 college savings plan for their
10-year-old daughter, investment brokerage accounts, CDs, a money market
and a savings account. Like other customers, they were initially drawn in
by the rates, but now it's about much more than that. "I love the personal
attention that I receive from the representatives at the Financial Center,"
remarked Phillipa. "They know our names when we walk in the door and that's
comforting to me."
Phillipa also appreciates the respect and professionalism that she and
her husband receive from the representatives in the Financial Center.
"They're friendly and courteous and I particularly appreciate when they
call to remind me that my CD's are coming due."
The New York couple, who bank at the Mamaroneck Financial Center, are
savers, not spenders. Their priority is to save for their daughter's
college education and to
http://www.countrywide.com/purchase/default.aspx?LinkID=HPUN003 [purchase a
home] in 10 years. They are also looking for ways to save for retirement.
"Greg and I recently met with our representative, who is also a financial
advisor, and we talked about opening a joint investment account to help us
reach our goal of purchasing a home in about 10 years," said Phillipa. "I
can't tell you how comforting it is to be able to meet face-to-face and
talk openly about our dreams, and then have a smart financial
representative map out a suggested course. I've never found that anywhere
but at Countrywide Bank."
Countrywide Bank Background
Since its launch in 2001, Countrywide Bank has steadily expanded the
reach of its financial centers to 13 states including: Arizona, Arkansas,
California, Colorado, Florida, Illinois, Massachusetts, Michigan, Ohio, New
Jersey, New York, Pennsylvania and Texas. Its 100th financial center opened
in January 2007 in Smithtown, New York, on Long Island. Located within many
Countrywide Home Loans branches, Countrywide Bank employs a unique,
low-overhead strategy of offering expertly staffed financial centers
designed to meet the diverse savings and investment needs of its customers.
Countrywide Bank offers consumers diverse financial products, including
https://bank.countrywide.com/scontent.aspx?cmtag=Content-SavingsLink
[SavingsLink(SM)] a high-yield online savings account; high-rate CDs; and
money market and retirement accounts, as well as quality investment and
insurance products through Countrywide Investment Services, Inc. With
SavingsLink, individuals can earn interest rates among the highest in the
nation on their savings, and maintain the flexibility to easily transfer
money to and from their checking, money market or investment account. For
more information about Countrywide Bank, visit
http://video.google.com/videoplay?docid=3029089186979913211&q=countrywide+b
ank &hl=en [Google Video] and query "Countrywide Bank."
About Countrywide Bank
Countrywide Bank, FSB is a member of the Countrywide Financial
Corporation (NYSE: CFC) family of companies. Countrywide Bank offers
consumers highly competitive rates on certificates of deposit and money
market accounts and, through its family of companies, also offers
investment and insurance products. Customers can review banking products
and services, check rates on deposits, and apply for new accounts by phone,
online, or at one of the financial centers located throughout the country.
In addition, the company offers the same superior rates and unsurpassed
personalized service to its business customers through its Premier Business
Banking and Commercial Banking Divisions. For more information about
Countrywide Bank, visit http://www.countrywidebank.com. Member FDIC. Equal
Housing Lender.
* Investment products offered through Countrywide Investment Services,
Inc., Member NASD/SIPC. Insurance products offered through Countrywide
Insurance Services (not available in all states).
Not FDIC Insured Not Guaranteed By Any Bank Not A Deposit
May Lose Value Not Insured By Any Federal Government Agency
SOURCE Countrywide Bank
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Related links:
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CONTACT:
Countrywide Bank, +1-800-796-8448,
pressroom@countrywide.com
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