AAA High Yield Savings Program Doubles
Program Growth Occurs as Consumers Seek Secure Investments

Phoenix, Ariz., August 3, 2010. Deposits in the AAA Deposit Program, offered in conjunction with Discover Bank, have doubled both locally and nationally over the last year, according to AAA.

Nationwide, the program has grown to $2 billion in the past 12 months. In Arizona, the program has grown to $120 million during the same time frame.

"Low rates on savings and adverse changes in existing banking relationships have resulted in consumers exploring their investment options," said Mark Springsteel, treasurer for AAA Arizona. “As a trusted organization that is able to offer competitive rates and FDIC insurance, our Deposit Program has experienced tremendous momentum over the past year.”

The AAA Deposit Program was launched nationally in January of 2008 and exceeded $500 million in deposits after eight months in existence. The program doubled in size eight months later to $1 billion in July of 2009.

AAA Arizona is one of 45 AAA clubs offering members money market accounts, certificates of deposit and IRA CDs via AAA’s relationship with Discover Bank. All of the products are FDIC-insured* and come with preferred interest rates for club members that exceed Discover’s already extremely competitive rates.

To access the AAA Deposit Program consumers should visit www.AAA.com/Deposits.

AAA Arizona, the Arizona affiliate of AAA, provides automotive, insurance and auto travel services to more than 800,000 Arizona members.  Annually, AAA’s Emergency Road Service responds to more than 450,000 calls for help on the streets and highways of the state as well as providing insurance, travel, and financial services to AAA members and motorists.  Since its founding in 1927, AAA Arizona has been a leading advocate for the safety and security of all travelers.  In 2008, AAA was ranked the No. 1 “socially responsible” brand by Landor’s BrandAsset® Valuator.

*Accounts are insured up to $250,000 per depositor, per deposit category.