Dedicated to Deposits: Deals, Data, and Discussion

5.00% 12-Month / 4.80% 60-Month CD at a Colorado Bank (New Frontier).

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New Frontier Bank
Update 4/10/09: The bank has been closed by regulators. Please refer to this post for more details.

Update 3/8/08: The CD rates have fallen. Please check the bank's website for the latest rates.

New Frontier Bank has changed its CD promotion. The yield on the 12-month CD special has gone down from 5.30% to 5.00% APY. The bank has also added a special 9-month CD with a yield of 5.10% APY and a special 60-month CD with a yield of 4.80% APY. The minimum deposit is $1,000, and the maximum is $95,000. This special is listed in the bank's CD rate table. The date listed at the bottom of this page is 2/16/2008. I had reported on the 5.30% CD special last Saturday.

Only in-state funds are accepted. This is listed at the bottom of the rate table, and it has been confirmed by several readers who commented in the previous post. Branches are located in Colorado cities of Greeley, Windsor and Longmont which are located north of Denver. The bank has been FDIC insured since 1998 (FDIC Certificate # 34881). It has a 2 out of 5 star rating (below peer group) at Bankrate.com based on 9/30/07 data.
  Tags: New Frontier Bank, Colorado, CD rates

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Comments
2 comments.
Comment #1 by Anonymous posted on
Anonymous
What is a definition of "in state funds"? Do I have to have a mailing address in Colorado? Or wire money from the bank that is physically located there?

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Yes, I think you have to have a Colorado mailing address.

1