Yields on savings accounts, certificates of deposit and money-market accounts are dropping en masse in the wake of the Federal Reserve’s latest round of rate cuts. In recent weeks, a number of banks that had previously offered high yields on deposit accounts, including Emigrant Savings Bank’s EmigrantDirect. Credit unions and online banks also typically offer higher yields than big brick-and-mortar banks. As a result, many savers — faced with falling rates and constrained by fears over credit defaults — are trying to find higher yields in the FDIC-insured “safety zone” by keeping money at insured banks and not exceeding those limits. Read More