Dedicated to Deposits: Deals, Data, and Discussion

4.00% 6-Month CD at Temecula Valley Bank in California

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Temecula Valley Bank is offering a CD promotion that includes a 6-month CD with an APY of 4.00%. Minimum deposit is $1,000, and the money must be new to the bank. There are also two other special CDs, but these are less competitive: 3.60% APY 12-month CD and a 3.35% APY 9-month CD. These rates are listed at the bank's rate page as of 12/09/08.

It appears a branch visit is required to open an account. Branches are located in the California cities of Temecula, Murrieta, Corona, Carlsbad, El Cajon, Escondido, Fallbrook, Rancho Bernardo, San Marcos, Solana Beach and Ontario.

Temecula Valley Bank was recently in the news when the bank fired its president and CEO. According to this SignOnSanDiego.com article, the bank "has seen its nonperforming loans soar throughout this year as home builders failed with their new projects."

As you might expect the bank's ratings for soundness are a little weak: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 6/30/08 data. Temecula Valley Bank has been FDIC insured since 1996 (FDIC Certificate # 34341).
  Tags: California, CD rates

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