Pacific Crest Savings Bank is listing a 10-month CD special with a 3.10% APY. Minimum deposit is $2,000. It requires a checking account with direct deposit from payroll or Social Security. The special is listed at this promotion page as of 4/09/09. The link to this promotion page is located at the bottom right of the bank's home page. The promotion page lists the available checking accounts. There's a free checking account with no minimum balance requirements or monthly fees. The minimum opening balance is $500. The bank also is offering a promotional 5-year CD with a 3.50% APY for balances balances between $2K and $100K. This special doesn't appear to require a checking account or direct deposit. The rate is listed at this promotion page as of 4/09/09.
The bank also has a competitive money market account. It's a tiered rate account, and as of 4/09/09, the rates are 2.25% APY for $50K+, 2.05% for $25K+ and 2.00% APY for $2K+. This is also available as a business account. A $2K minimum balance is required to avoid a $15 monthly service fee. Limited check writing is avaialble with a free first order of checks.
It appears a branch visit is required to open an account. It's a small one-office bank located in Lynnwood, Washington.
The bank has strong ratings for safety and soundness: 4 stars (excellent) at BauerFinancial (based on 12/31/08 data) and 4 stars (sound) at Bankrate.com (based on 9/30/08 data). The bank has been FDIC insured since 1998 (FDIC Certificate # 34585).
Thanks to the reader who commented on this special in the my daily news & deals post.
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