Date: Tue, 14 Sep 2004 16:07:21 CST
From: turtle 
Newsgroups: misc.invest.financial-plan
Subject: Re: ING Direct and EverBank
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	+Z4XDmPl5yvJwuiswgnhcf6QI4lfR3fL/koLSnMRvmiRZRsIl37FuQ==
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On Sun, 12 Sep 2004 22:18:41 CST, Mark Freeland wrote:

>The poster was asking about a three month CD (the six month Commodity CD
>pays a different rate than the 4.16% indicated), but it isn't clear
>whether the intent was long or short term savings.

This would be for long term savings (2-5 years).  I thought the three
month CD would give me more flexibility, though.

>
>Finally, to address the original question:
>
>I haven't had personal experience with either bank, but even in the
>'80s, when all the S&Ls were folding, the FDIC (actually the RTC, then)
>was very efficient in covering the accounts quickly and efficiently. 
>So, up to $100K, I wouldn't worry.
>http://www.docloan.com/loans/loan_terms/Resolution-Trust-Corporation-Rtc
>
>In case you are still concerned, you can look up bank's safety ratings
>at:
>http://origin.bankrate.com/brm/safesound/ss_home.asp

Thanks.  It looks like both EverBank and ING have a 2 rating
("sound").  A 1 rating would be best ("Superior").