5.80% 12-Month CD at a Florida Bank (Freedom Bank)
Feb 26, 2009 - 1:29 PM by Ken Tumin
Update: The bank was closed on 10/31/08. Please refer to this post for more details.
Freedom Bank is advertising a special 5.80% APY 1-year certificate of deposit. The minimum is $500. The interest is compounded daily and credited monthly. The early withdrawal penalty is 3 months of interest. It's only available as a regular CD and not an IRA CD. This special is not listed on the bank's website. It was advertised in the Bradenton Herald. The ad is available online here.
The bank has branches in Bradenton and Sarasota, Florida. According to the CSR, the bank requires a branch visit to open the CD.
Freedom Bank is a newly established bank that has been FDIC insured since May 2005.
Freedom Bank is advertising a special 5.80% APY 1-year certificate of deposit. The minimum is $500. The interest is compounded daily and credited monthly. The early withdrawal penalty is 3 months of interest. It's only available as a regular CD and not an IRA CD. This special is not listed on the bank's website. It was advertised in the Bradenton Herald. The ad is available online here.
The bank has branches in Bradenton and Sarasota, Florida. According to the CSR, the bank requires a branch visit to open the CD.
Freedom Bank is a newly established bank that has been FDIC insured since May 2005.
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Anonymous - #1, Thursday, November 8, 2007 - 1:41 PM
i called bank on lockwood ridge in sarasota and they disavowed any knowledge of this ad.
Banking Guy (anonymous) - #2, Thursday, November 8, 2007 - 7:16 PM
It has been a year since I posted on this special (please note the date), so I'm sure the special has expired. I'm afraid I'm not able to update all the posts when the specials end since as in this case, it's not listed on the bank's website.
For the latest rates, please refer to my home page and my latest weekly rate summary.
Anonymous - #3, Thursday, February 26, 2009 - 12:09 PM
On October 31, 2008, Freedom Bank, Bradenton, FL was closed by the Florida Office of Financial Regulation. Subsequently the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
All deposit accounts have been transferred to Fifth Third Bank, Grand Rapids, MI. For more information on Fifth Third Bank. visit us at www.53.com or call 1-866-458-7290.
The FDIC has assembled useful information regarding your relationship with Freedom Bank. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution.
Please select the link below to read more about this event:
FDIC Bank Closing Information for Freedom Bank
Online service will continue as usual.
Continue to Freedom Bank's website
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