How to invest in CDs, Money Markets & Savings AccountsWhere to Open a Savings AccountBill Gerhard: Hi! I'm Bill Gerhard, Director of Financial Services for AAA. This video series discusses how to invest in CDs, Money Markets and Savings Accounts. Now I'll share some options on where to open an Account.

You've never had more choices. That's good because it creates competition when it comes to rates, benefits, service and fees. The downside is you need to do a little more homework to make the decision that's best for you. I'll try to give you some options to explore; you can invest under CD through a bank both online and at an office, some mutual fund and stock brokerage firms, insurance companies and credit unions. More recently, affinity groups are also working with banks to offer high-yield savings accounts like CDs. These groups can leverage their large memberships to get preferred rates and benefits. AAA would be a good example of such a group.

Naturally you want to look at the interest rate offered but there are additional factors a payee has to consider. Your first question should be is my investment insured by FDIC or if you invest with the Credit union, the NCUSIF, if not keep looking. Second, what are the fees; check out maintenance and other fees. Are there qualifiers you have to meet to open an account and receive the highest interest rate, do you need to have a checking account with the institution, is there a minimum balance required to open an account.

Next, find out how easy it is to access your funds and get information on your accounts. Look for provider that offers you online banking options and quick access information through an easy-to-navigate website and toll-free number. If you're considering a bank or credit union, check out their safety and security rating on bankrate.

com. If you're considering investing through an affinity group such as AAA, check the rating of its banking partner. If you have savings in several places consider consolidating them into one place that offers a wide range of financial products, IRAs, CDs and money market accounts. This may simplify administration of your accounts, improve your service and possibly lower your fees.

AAA offers you information in this video series for educational purposes only. Carefully consider objectives, risks, expenses and tax implications before investing.

I hope this video series has helped you better understand the savings opportunities available to you through CDs and Money Market and Savings Accounts. So thanks for watching and good luck with your savings. 1