DollarSavingsDirect vs EmigrantDirect

[jblack]

Just read an article on CNNMoney about the 3.75% savings rate for DollarSavingsDirect.com, a new online savings account by Emigrant Bancorp.

http://money.cnn.com/2008/08/25/pf/d...ion=2008082506

I'm a bit confused by the difference between DollarSavingsDirect.com and EmigrantDirect.com, though, since the latter (where we have our emergency fund) has no mention of the news and still claims a 3.0% rate.

Aren't these financial institutions the same or do they simply share the same holding company?

[mn54]

It appears that the only difference is the $1,000 min. for doll.sav.dir. and no min. for emig.dir. They are the same company. Even their home page looks exactly the same.