Dedicated to Deposits: Deals, Data, and Discussion

5.30% 12-Month CD at a Colorado Bank (New Frontier).

POSTED ON BY

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

Update 2/16/08: The special CD rates have gone down. Please check the bank's website for the latest rates.

New Frontier Bank is offering a special 5.30% APY 12-month certificate of deposit. The minimum deposit is $1,000, and the maximum is $95,000. This special is listed in the bank's CD rate table, and the date listed at the bottom is 2/08/2008, so hopefully this special will last for a while.

Only in-state funds are accepted. 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.

Thanks to the reader who mentioned this special CD in the Finding-the-best-rates post.

  Tags: New Frontier Bank, Colorado, CD rates

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Comments
5 Comments.
Comment #1 by Anonymous posted on
Anonymous
Bankguy:

I called the bank today - 800.803.4974 (Sat. 2/2/2008) and the lady in accounting - Shelby indicated that the bank will accept out of state funds (they need to verify identity although) for the 5.3% CD offer. I have to call the new account personnel and verify details on Monday. I asked her if custodial accounts are covered in this offer and she indicated - yes. I need to contact Lisa Mangum on Monday to work out details. I will also check into the bank stability through FDIC as their may be a really good reason for the high deposit rate. Shelby indicated the offer is valid through Friday Feb 15, 2008. Hope this posting helps your readers find a higher rate for 12 month CD's.

Jeff Cleveland, OH

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for calling and reporting on this. Hopefully, they'll be willing to make exceptions to their "in-state only policy" which is noted at the bottom of the rate table. Please let us know what you find out on Monday.

1
Comment #3 by Anonymous posted on
Anonymous
I called the Customer Service. They told me that this offer is only for Colorado residents ONLY.

1
Comment #4 by Anonymous posted on
Anonymous
I called the Customer Service. They told me that this offer is only for Colorado residents ONLY.

1
Comment #5 by Anonymous posted on
Anonymous
I guess that I was optimistic that they could open an out of state account based on my conversation on Sat. Manager today indicated that in-state funds only. So, If you live the the greater Denver area, you may have an opportunity to open the 5.3% CD. Otherwise, go fishing..

Jeff Cleveland

1