Dedicated to Deposits: Deals, Data, and Discussion

2.50% 9-Month CD at First Federal in North Carolina - Local Only


First Federal is offering a special 2.50% APY 9-month CD at its North Carolina branches. Minimum deposit is $1,000, and the maximum is $99,999. The offer is listed at the bank's website as of 6/09/09. According to the small print, the rate is valid at the bank's North Carolina branches only through June 23, 2009.

Most of these North Carolina branches are those taken over from Cape Fear Bank which was closed by regulators on April 10th. The FDIC arranged a purchase agreement with First Federal. It appears First Federal is trying to attract and keep depositors who may have been scared away by the closure. I remember last year when IndyMac was closed, the new bank that the FDIC set up continued with very competitive CD deals. When a bank is closed and a new bank takes over, there's often an opportunity to get a good deposit deal at a strong.

2.25% 18-Month Certificate of Deposit

First Federal also has an 18-month CD special that's fairly competitive with a 2.25% APY. Minimum deposit is $1,000. This one is listed on its home page as of 6/09/09, and it's not just limited to North Carolina. It's available at all of their branches and through their online application for residents of South Carolina, Georgia and Florida.

The bank also offers a reward checking account that currently pays 2.51% APY on balances up to $25K. This also can be opened online by SC, GA and FL residents (see post).

First Federal's North Carolina branches are located in Wilmington, Hampstead, Surf City, and Southport. The only Firt Federal branch in North Carolina that wasn't part of Cape Fear Bank is in Sunset Beach. If you live near here, I recommend calling to confirm they'll honor this 9-month CD special.

First Federal's ratings for safety and soundness are fair: 3 stars (performing) at and 3.5 stars (good) at BauerFinancial. Both ratings are based on 12/31/08 financial data. The bank has been FDIC insured since 1934 (FDIC Certificate # 28994).

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.

Related Pages: South Carolina, Georgia, North Carolina, CD rates, Florida

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Comment #1 by corporatebully (anonymous) posted on
RBC Bank President Gordon Nixon - Salary $11.73 Million


I'm a commercial fisherman fighting the Royal Bank of Canada (RBC Bank) over a $100,000 loan mistake. I lost my home, fishing vessel and equipment. Help me fight this corporate bully by closing your RBC Bank account.

There was no monthly interest payment date or amount of interest payable per month on my loan agreement. Date of first installment payment (Principal + interest) is approximately 1 year from the signing of my contract.
Demand loan agreements signed by other fishermen around the same time disclosed monthly interest payment dates and interest amounts payable per month.The lending policy for fishermen did change at RBC from one payment (principal + interest) per year for fishing loans to principal paid yearly with interest paid monthly. This lending practice was in place when I approached RBC.
Only problem is the loans officer was a replacement who wasn't familiar with these type of loans. She never informed me verbally or in writing about this new criteria.

Phone or e-mail:
RBC President, Gordon Nixon, Toronto (416)974-6415
RBC Vice President, Sales, Anne Lockie, Toronto (416)974-6821
RBC President, Atlantic Provinces, Greg Grice (902)421-8112 mail
RBC Manager, Cape Breton/Eastern Nova Scotia, Jerry Rankin (902)567-8600
RBC Vice President, Atlantic Provinces, Brian Conway (902)491-4302 mail
RBC Vice President, Halifax Region, Tammy Holland (902)421-8112 mail
RBC Senior Manager, Media & Public Relations, Beja Rodeck (416)974-5506 mail
RBC Ombudsman, Wendy Knight, Toronto, Ontario 1-800-769-2542 mail
Ombudsman for Banking Services & Investments, JoAnne Olafson, Toronto, 1-888-451-4519 mail

"Fighting the Royal Bank of Canada (RBC Bank) one customer at a time"