PASADENA, Calif., Feb. 25, 2019 /PRNewswire/ -- OneWest Bank, CIT's Southern California retail bank division, today announced its support of America Saves Week with a $250 checking reward bonus that puts money into the pockets of local residents. The reward is available for consumers who open a new OneWest checking account before the end of 2019 and complete certain qualifying activities.1
"America Saves Week reminds us the importance of getting our finances on track," said Heather Ellison, senior vice president of Retail Banking for OneWest Bank. "Our goal with this offer is to make it easier for Southern Californians to meet their financial objectives, whether they aim to invest wisely, reduce debt or boost savings."
OneWest Bank is one of the 1,500 organizations across the nation participating in America Saves Week to encourage consistent saving. In addition to taking advantage of rewards like OneWest's checking offer, consider the following tips to promote long-term financial stability:
- Automate your savings. Program automatic monthly contributions to turn your savings into a budgeted monthly expense. Take advantage of a high-yield account and watch your money grow as you continue to save.
- Set and simplify spending limits. OneWest's Card Controls capability allows mobile app users to set spending limits, merchant types and alerts.
- Establish Bill Pay. Automatically debit your bills each month to avoid potential credit card charges or late fees.
- Diversify your investment strategy. Consider opening a money market, CD or high-yield savings account to reach your goals faster.
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience, approximately $50 billion in assets as of Dec. 31, 2018, and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, real estate financing, equipment financing, factoring and railcar financing. CIT's consumer banking segment includes its national online bank, CIT Bank, and a Southern California branch bank, OneWest Bank. Discover more at cit.com/about.
1 Limited time offer. $250 bonus offer is for customers aged 18 years or older who successfully open a new OneWest Bank Personal Checking account, Premium Checking account or One Account (collectively, "Checking Account") at any branch of OneWest Bank, a division of CIT Bank, N.A. ("OneWest Bank") between February 11, 2019 and December 31, 2019 and satisfy the following requirements:
- Open with a minimum deposit of $1,000 in new money and maintain an average balance of at least $1,000 during the first 90 days following account funding. The average balance will be calculated by averaging the end of day balance for each of the first 90 days, beginning with the date on which the account is funded.
- Set up and receive recurring direct deposits or ACH deposits to the new Checking Account totaling $650 or more per month for at least two consecutive months, within 90 days of account funding.
Funds used to open the Checking Account may not include funds that were held in another account at OneWest Bank or at CIT Bank, N.A. through www.CITbank.com ("CIT") at the time of account opening. Funds withdrawn from OneWest Bank or CIT within 90 days prior to account opening are also restricted.
Bonus will be paid as a statement credit to the Checking Account within 90 days after the requirements above are met within the specified time frames. Checking Account must be open to receive the bonus and in good standing for at least six months after account opening. If Checking Account is closed by the customer or OneWest Bank within six months after opening, the value of the bonus may be deducted from account at closing.
Annual Percentage Yield (APY) as of February 11, 2019 for Premium Checking: 0.01% APY on balances below $1,000; 0.05% APY on balances of $1,000–$4,999; 0.05% APY on balances of $5,000–$9,999; 0.05% APY on balances of $10,000–$24,999; 0.10% APY on balances of $25,000–$49,999; 0.20% APY on balances of $50,000-$99,999; 0.20% APY on balances of $100,000–$9,999,999; and 0.01% APY on balances of $10,000,000 or more.
Annual Percentage Yield (APY) as of February 11, 2019 for OneAccount checking: 0.05% APY on balances below $1,000; 0.05% APY on balances of $1,000–$4,999; 0.05% APY on balances of $5,000–$9,999; 0.10% APY on balances of $10,000–$24,999; 0.10% APY on balances of $25,000–$49,999; 0.40% APY on balances of $50,0000–$99,999; 0.60% APY on balances of $100,000–$9,999,999; and 0.60% APY on balances of $10,000,000 or more.
Interest rates and APYs are variable and may change at any time without prior notice. Fees could reduce earnings on the accounts. Contact a banking office for complete terms, fees and conditions.
Customers who enrolled in any other OneWest Bank checking reward or bonus offer in the past 12 months are not eligible for this offer. $250 checking bonus offer is limited to one per customer and five per household. Accounts cannot be opened in the name of a business. Employees of CIT Group Inc. or any of its affiliates, including CIT Bank, N.A. and its OneWest Bank division are not eligible for this offer. The value of this offer may be reported to the IRS and the customer is responsible for any federal, state or local taxes.
SOURCE CIT Group Inc.