The past week ended quietly for the FDIC last Friday – at least as far as bank failures are concerned. This is the first time in three months that no bank was closed over the weekend, even as the number of closures for this year nears the 100th mark.

Even when a bank closes, its CD rates are still an issue. The FDIC closed down three more banks last Friday, bringing the total number of bank failures this year to 98.

While we would always want to view the glass as half-full rather than half-empty, when it comes to CD rates, it would be difficult to maintain all that optimism

With CD rates falling to an all-time low last week, we thought nothing could possibly get worse. But it turns out there was more to come.

If you are fortunate enough to have put aside a considerable amount for your savings, the choice of where to invest in a CD is a no-brainer – opt for the bank with the highest CD rate of course.

UMPQUA is offering a really nice 13-month CD for the next 21 days that has the most competitive rate on My Bank Tracker at 2.50% APY.