How to Deposit Money (Sensitive Information for Fans/Friends Only)

Confidential Information (info for Fans/Friends):

Once upon a time, in 1992, when I was only 18 years old (my last year in high school) I met a history & economics teacher who shared with me the potential financial turmoil that would start from the banking system. The banking system was flawed because it would overbundle services and offer investment and banking as one package. The Great Depression happened due to financial oversight and after Franklin D. Roosevelt banks were no longer allowed such freedoms.

A few years later in college, I would receive apublicationfor my research with Pfizer and then a patentas a scientist working with Merck & Co. I was introduced to making $ with your own time, effort and brain power.

But then where do you put the money?

As I started to revisit my teacher's advice, I compared rates of public, commercial banks and smaller outfits in the Savings & Loan departments. For readers, here is a 2007 detailed report and comparison on something calledcredit unions. You should download this and keep a copy for your own reference (it may not always be available).

Here is a current rate comparison of savings rates with "minimal deposits" and inclusive of "0" activity. This means you don't need to constantly transact and you can enjoy the rates. Look carefully at the fine print and you'll see that the 4.00 APY out there have a catch that you must have 10,000 deposits, constantly transact (this means withdraw) and the bank withholds the right to change the policies at anytime.

Credit Union vs. J.P. Morgan Chase (link)