Dedicated to Deposits: Deals, Data, and Discussion

5.85% 24-Month / 5.75% 12-Month CD at Mutual Bank in Aurora (Nationally Available)


Mutual Bank
Update 9/19/07: CD rates have dropped.

Mutual Bank's new Aurora, Illinois branch is having a new-branch CD special with a 5.85% APY 24-month CD and a 5.75% APY 12-month CD. The 24-month CD has a $5k minimum deposit and the 12-month CD has a $2.5k minimum.

Like the Houston branch special that I've reported on, they allow you to open the CD by mail. You have to make sure to mail the application to the new Aurora branch. This is not advertised at Mutual Bank's website. A reader emailed me info on this, and I called the Aurora branch today for further details.

The customer service rep wasn't sure how long these rates will last. So please check with Mutual Bank before sending in the application. The application and the required documents to mail in are listed on their website here. Once the CD is established, you should be able to get online access.

Mutual Bank has been FDIC insured since 1962 (Certificate # 18659).

Thanks to the reader who emailed me info about this special.

Related Pages: Mutual Bank, CD rates

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Comment #1 by Baz (anonymous) posted on
The CDs are no longer available at this rate as of this morning (9/19); they quoted me 5% APY on a 12 month.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks. It looks like Mutual Bank didn't waste any time after the Fed rate cut. I see their national CD rates also went down.

Comment #3 by Anonymous posted on
I called the branch. The rep told me they do not have this rate and they don't "advertise" on the internet. Their 1 and 2 year CD rates are around 5%.