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6.00% 12-Month CD at a New York Bank (LibertyPointe)


LibertyPointe Bank will be having a grand opening special at its new Brooklyn, New York branch starting November 4th. A 12-month CD with a yield of 6.00% APY will be available if you open a checking account with direct deposit. Without this checking, the yield will be 5.75% APY. The maximum deposit will be $50,000. This special will only be available at the new Brooklyn branch on November 4th. This special is not listed at the bank's website. I saw this mentioned in this FW thread, and I contacted the bank to confirm. The new branch is located at 1427 Coney Island Avenue. The bank does have a grand opening announcement with some more info.

I had posted on this bank many times before. They've often had some very good CD rates. Currently, there standard rates are fairly competitive with yields up to 5.25% APY for a 60-month term. These are also available as an IRA certificate. These standard rates are available to customers within the New York, New Jersey and Connecticut area.

Although they have a history of good rates, they don't seem to have a good reputation with customer service. In my last post, several readers commented that they had problems with customer service at this bank.

LibertyPointe Bank is a small bank that was established in 2005. The bank is FDIC insured (FDIC Certificate # 58071).

Thanks to the FW member mrthnman who posted this special in this FW thread.

  Tags: New York, CD rates

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Comment #1 by Anonymous posted on
I once requested a CD account application from this bank; I was told that it would be mailed to me in New Jersey. It never arrived. My experience with this bank seems to be consistent with the tenor of the comments from other readers who have not fared well with the substandard customer service from this outfit.

Comment #2 by Anonymous posted on
anyone coming sunday ?

Comment #3 by Anonymous posted on
My husband and I live in the neighborhood, so we simply walked there on Friday morning (the bank was already issuing the CDs at that point) and applied for the CD then and there. In person, it was fairly simple, plus we received a tote bag, a wall clock, and three pens! No problems with customer service yet, but setting up an online page when we got back home was problematical. Their online support person was helpful, but he said it wouldn't be entirely set up until Monday. We'll see....

Comment #4 by Anonymous posted on
As promised, the online support person followed up today, after a brief phone call, and set up my page. So, no complaints from me about customer service.

Comment #5 by mrthnman (anonymous) posted on
The 5.75%/6% CD offer has ended, but they still are offering a very competitive 6,12 or 18 month CD for 5.25% or 5.50% if you set up an account with direct deposit.