Dedicated to Deposits: Deals, Data, and Discussion

4.50% 12-Month CD at a Florida Bank (Freedom).

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Update 10/31/08: The bank has been closed. Please refer to this post for more details.

Freedom Bank is advertising a 4.50% APY 12-month CD. The minimum deposit is $500. This doesn't seem to be listed at the bank's website. It was advertised in today's Bradenton Herald newspaper. The ad is available online here.

It appears that a branch visit is required to open accounts. Branches are located in Bradenton and Sarasota Florida.

Freedom Bank has been hurt by bad loans in this real estate slump. It has a zero-star rating (lowest) at BauerFinancial based on 3/31/08 data.

As I recommend with any banks, make sure you stay below the FDIC limits. Freedom Bank has been FDIC insured since 2005 (FDIC Certificate # 57930).

Financial Health of Florida Banks

As I was searching for news on Freedom Bank, I came across this webpage that lists the BauerFinancial star ratings of all banks in Florida. Only eight Florida banks have a zero-star rating.

  Tags: Freedom Bank, CD rates, Florida

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