Yet again, we chose not to roll over May’s expiring 6-month CD as part of our income-replacement / emergency fund. The best rate we could find, again at a local credit union, was just 0.15% APY lower than the rate we’re getting in our savings account at FNBO Direct. And the liquidity trade-offs are worth more than that to us.

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I read a story today that really has me wondering what credit card companies are thinking: Credit Card Industry Aims to Profit From Sterling Payers. Apparently, major credit card issuers are threatening to start charging people, who pay off their bills each month, more fees for using their cards as a bargaining tactic to stave off government legislation.

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I got an e-mail from FNBO Direct’s customer service on Monday. The FNBO Online Savings Account is now earning a 1.65% APY, as of 2009.05.18. It appears I made the wrong bet last month when I decided not to renew a step of my “emergency fund” CD-ladder on the theory that savings rates were competitive with 6-month CD rates.

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