FNBO Direct
FNBO Direct, a division of First National Bank of Omaha, started operations in November 2006 at a 5.25% Annual Percentage Yield (APY). FNBO Direct launched a nationwide campaign to promote their online savings account on May 1, 2007. In honor of the bank's 150th anniversary, the APY was placed at 6.0% for 150 days from May 1 through September 28, 2007. In an e-mail sent to customers at the end of August, it was announced that the FNBO Direct Credit Card will give a competitive interest rate and cash back rewards that would be deposited directly into the online savings account. The credit card product launched to a selected number of customers that currently have an online savings account on September 26, 2007. On November 28, 2007, FNBO Direct launched an Online Billpay account as well as offering a certificate of deposit available, at first, for four different terms (9 month, 12 month, 18 month, and 24 month). Currently, customers are able to choose from a six month term as well.
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