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Monday, Sep 26, 2022
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UTC-Based Bank’s Interest Rate Draws Some, Well, Interest

Financial literacy website WalletHub picked University Towne Center-based BofI Federal Bank’s rewards checking account as one of 2014’s “Best Bank Accounts for Small Businesses.” The short list was compiled just in time for National Small Business Week, which runs May 12-16. BofI was chosen for being among the few banks paying the highest interest rate on business deposits. WalletHub said it compared 200-plus business bank accounts to come up with such offerings as the highest interest rates, as well as best rewards and lowest fees. More info is at wallethub.com. … Kearny Mesa’s Cubic Corp. has completed work on a livestock disaster preparedness program in the Texas Panhandle. A news release said the 18-month, $1.4-million effort will help bolster the region’s cattle feed and livestock industry against natural and manmade threats, such as foot-and-mouth disease. It was an unusual but important program for the defense contractor, which also specializes in making and marketing fare-collection equipment for transit agencies globally. Cubic also announced it has received a contract valued at $15 million for joint training and exercise support to the U.S. Africa Command, which is based in Stuttgart, Germany. … Encinitas-based Sage Executive Group’s Brian Yui expects his startup to more than double in size in this year, especially now that is expanding its membership to include chief financial officers and other C-level executives. Members of the for-profit firm, all chief executives of fast-growing private companies in the region, said they find the peer advisory meetings so valuable that Sage decided to broaden the program to include other key executives in the collaborative process of problem solving. The 2-year-old organization has signed on some pretty impressive CEOs, including Steve Wagner, who is co-founder of Stone Brewing Co. in Escondido. … The Carlsbad Village Association picked downtown San Diego marketing firm The Nth Element as its new communications contractor. … Finally, this item. You’ve probably heard a lot about bitcoin, the new digital currency that’s getting a lot of notoriety. The California Department of Business Oversight issued a warning of the risks associated with virtual currencies such as bitcoins, sometimes called crypto-currency or digital cash. The exchanges for these currencies are unregulated, so transactions are considered high-risk due to the vulnerability from cybercrooks, the agency said. Better to stick with dollars. Till next week.

Tom York is contributing editor of the San Diego Business Journal. If you have newsworthy tidbits, send them to tyork@sdbj.com or tom.york@gmail.com.

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