Market Volatility Drives Investors to High Yield Savings Accounts

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With Treasury yields in decline and the market's anticipation of a downward adjustment by the Federal Reserve Bank in September, consumers are looking to high yield Internet savings accounts as an investment alternative. Benefits cited include predictable and competitive rate of return and instant liquidity.

Umbrellabank.com, the Internet banking division of New South Federal Savings Bank, has announced that the first 30 days of its Green Day high yield savings account promotion, featuring a 90-day fixed rate of return has far exceeded the online bank's expectations in terms of new account openings.

"With Treasury yields in decline and the market's anticipation of a downward adjustment by the Federal Reserve Bank in September, consumers seem to be looking for investment alternatives that offer a predictable and competitive rate of return, while also providing instant liquidity," said Michael Anderson, VP Capital Markets.

New South Federal Savings Bank is a federally chartered, privately held company and a member of the Collateral Family of Companies, which has been in the financial services industry since 1933.

Contact:
Marc Beaumont, VP Marketing
O: 205-951-4237
C: 205-835-6306
mbeaumont @ newsouthfederal.com
http://www.umbrellabank.com

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Marc Beaumont

Stephanie Juneau

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