A branch visit is required to open the CD if you don't already have accounts at the bank. The bank has several branches in the Central Florida including the cities of Orlando, Edgewood, Kissimmee, Winter Park, Deltona and Lake Mary.
Unlike many other banks offering high CD rates in Florida, First Commercial has some top ratings for its financial health: 4-star rating (sound) at Bankrate.com and 4-star rating (excellent) at BauerFinancial. Both ratings are based on 3/31/08 data. The bank has been FDIC insured since 1999 (FDIC Certificate # 34965).
No-Cap Reward Checking Account
The bank is still offering a high yield reward checking account that I first reported on in March 2007. The rate has fallen quite a bit since then. I was told that the current yield is 3.49% APY (down from 5.64% APY from last year). Even though the rate is not the best for reward checking accounts, there are no balance caps which limit the balance that can earn the top yield. To find other reward checking accounts, please refer to my High Yield Checking website.