Synchrony Bank’s Optimizer+plus Named “Best CD” for Second Year by Money® Magazine

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Recognized among 70 biggest retail and online banks in the U.S.

DRAPER, Utah--(BUSINESS WIRE)-- Synchrony Bank’s Optimizer+plus savings CDs have been named the “Best CD” by Money® Magazine as part of its 2014 ranking of the “Best Banks in America.” Featured in Money’s November issue, Synchrony Bank is recognized for its “top interest rate” for balances of $25,000, among the 20 biggest online banks by consumer deposits, and the 50 biggest brick-and-mortar banks by consumer deposits and number of branches, according to data from financial services consulting firm Novantas. Criteria for banks surveyed included reviews of CD rates, fees, minimums, terms, business and standalone accounts, mobile-app features, and customer experience.

“We are proud to be recognized by Money Magazine for the second consecutive year for our secure, high-yield savings solutions,” said Sue Davis Gillis, Consumer Banking leader for Synchrony Bank. “We’ve focused on delivering long-term value and high levels of customer service and satisfaction, and this recognition, along with strong sales and account growth of our Optimizer+plus products, underscores our commitment.”

A Federal Deposits Insurance Corporation (FDIC) member, Synchrony Bank, formerly GE Capital Retail Bank, changed its name on June 2, 2014. Since launching its Optimizer+plus suite of savings products, including CDs, Money Market and Savings accounts, and IRAs last year, the Bank has continued to experience strong deposit growth, increasing 48 percent year-over-year as reported in October 2014. Synchrony Bank’s Optimizer+plus products are designed to provide consistently competitive rates, personalized and safe online banking, loyalty rewards, a dedicated team, and secure 24/7 account access.

About Synchrony Financial

Synchrony Bank, part of Synchrony Financial (NYSE:SYF), is a federal savings bank headquartered in Draper, Utah, and a member of the FDIC. Synchrony Financial, formerly GE Capital Retail Finance, is one of the premier consumer financial services companies in the United States. Our offerings include private label and co-branded credit cards, promotional financing and installment lending, loyalty programs, and Optimizer+plus branded FDIC-insured, award-winning savings products through Synchrony Bank. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables. We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ more than 300,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. More information can be found at www.myoptimizerplus.com, www.synchronyfinancial.com and twitter.com/SYFNews.

©2014 Synchrony Bank/Synchrony Financial, All rights reserved.

Synchrony Financial, 855-791-8007
media.relations@synchronyfinancial.com

Source: Synchrony Financial

Released November 4, 2014