Urban Trust Bank is listing several very competitive CD rates. The most competitive CD APYs include 3.25% for 6 months, 3.50% for 9 months, 3.75% for 12 months, 4.25% for 24 months and 4.50% for 48 months. Minimum deposit is $500. The rates are also available in IRA CDs. These rates are listed in the bank's rate table as of the morning of 2/11/2009.
The bank is also listing competitive rates as of 2/11/2009 on its checking and money market accounts. The checking account rate is 3.00% APY for balances of at least $1,000. The money market APY ranges from 3% to 3.75% for balances of at least $25,000.
I tried to contact the bank this morning for more details, but I couldn't get through to a customer service rep. Based on the bank's Certificate of Deposit Page, it appears a branch visit is required to open an account. Branches are located in several North and Central Florida cities including Orlando, Winter Haven and Jacksonville. There are also branches in the Washington DC suburbs of Bethesda and Landover Hills, Maryland.
The bank has fair ratings for safety and soundness: 3 stars (adequate) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 9/30/08 financial data. The bank has been FDIC insured since 1963 (FDIC Certificate # 31390).