Cole Taylor Bank has again increased some of its promotional CD rates. The special 15-month CD yield increased from 4.10% to 4.40% APY. There's also a special 24-month CD with a yield of 4.50% APY and a special 7-month CD with a yield of 4.00% APY. The other special CDs have the same rates that I reported in my last post in July: 5.25% APY 60-month, 4.75% APY 36-month and 4.00% APY 11-month. The minimum deposit is $10,000, and new money is required.
It appears a branch visit is required to open an account. Branches are located in Chicago, Illinois and its suburbs. The bank has been FDIC insured since 1978 (FDIC Certificate # 22599). It has a 2-star rating (problematic) at BauerFinancial (down from 3 stars in July), but only a 1-star rating (lowest) at Bankrate.com. Both ratings are based on 3/31/08 data.
Thanks to the reader who mentioned these new rates in the comments.