Dedicated to Deposits: Deals, Data, and Discussion

2.75% 11-Month CD at Champion Bank in Missouri

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Champion Bank
Champion Bank is offering several CD specials with competitive rates. These include a 2.75% APY CD with terms of 11 months, 13 months and 18 months. There's also an 8-month CD with a 2.35% APY. Minimum deposit is $1,000. Maximum deposit is $95,000. These are available as regular, IRA and business accounts. The rates are listed in the bank's rate table as of 6/03/08. Additional information about the 11-month CD special is also listed in this St. Louis Post-Dispatch newspaper ad.

Champion Bank continues to offer a reward checking account, but the yield has fallen quite a bit over the last year. The yield as of today is 2.25% APY for balances up to $25K. For more info on this checking account, please refer to this post.

When I contacted the bank last September, I was told that you can open accounts by mail. Here is part of the email reply that I received:
Yes, Champion Bank is able to open an account for a customer residing anywhere in the United States. Once the application has been submitted, you will be contacted,and a request will be made for two forms of identification for each signer, as well as a check for the deposit. The account will not officially be opened until the funds have been received.

Policies often change at small banks. So if you're interested in these CDs, please contact the bank for the latest instructions. They can be contacted at (866) 672-9983.

The main branch is located in Creve Coeur, Missouri which is in the suburbs of St. Louis.

It's a new bank that was just established in 2006. Its ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both ratings are based on 12/31/08 financial data. The bank is FDIC insured (FDIC Certificate # 58362).

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.

  Tags: Champion Bank, CD rates, Missouri

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Comments
Comment #1 by Blogging Banks (anonymous) posted on
Blogging Banks
Well it sounds like a good alternative, but for most of your readers Ally Banks 12 month CD offering an APY of 2.80% is the best choice nationwide.

Blogging Banks

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