Dedicated to Deposits: Deals, Data, and Discussion

3.75% 12-Month CD & 4.25% 24-Month CD at Urban Trust Bank in FL and MD


Urban Trust Bank
Update 2/21/09: The CD rates have fallen. Some of the long-term CD rates remain competitive. Please check the bank's website for the latest rates.

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 Both ratings are based on 9/30/08 financial data. The bank has been FDIC insured since 1963 (FDIC Certificate # 31390).

Related Pages: Urban Trust Bank, Maryland, CD rates, IRA rates, Florida

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Comment #1 by Anonymous posted on
This is the bank that is located inside a local Wal-Mart store in my area. Another community based bank. I guess if you shop at Wal-Mart a lot, then this would be a convenient bank for you. I already opened a 2 year CD early last month at 4.51% so they are too late with their advertised rates.

Comment #2 by Andrey (anonymous) posted on
Branch visit is required for opening. Confirmed by calling them and through bankmail.

Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for confirming this.

Comment #4 by Anonymous posted on
Taken from their website:

To take advantage of these rates and open an account with Urban Trust Bank, visit one of our convenient branch locations. At this point, we cannot open accounts online or by mail.

The checking account rate is 3% and their money market highest tier rate is 3.75%. Sounds tempting since the Wal-Mart office branch is close by. But I am bit suspicious of these small community banks and one of them just got bought out recently.

Comment #5 by Anonymous posted on
It looks like small community banks are offering better rates than any of the bricks and mortar or online banks (for example, Urban Trust and Broadway Savings). There have been some bank closures involving small banks recently. And many of them were having some financial problems like One United Bank (which has dropped their rates quite a bit now).

Comment #6 by Anonymous posted on
Their Money Market rate is still at 3.5% for amounts over $25,000 although the CD rates took a hit recently. I got some money coming due very soon, so I guess parking it in one of those accounts to get 3.5% would be pretty good. In order to get one of those 4%+ rates, you need to open a 3+ year CD. Not sure if this financial crisis situation will last that long.