Teche Federal Bank is offering a few competitive long-term CD rates. These include a 3.25% APY 40-month CD, a 4.00% APY 5-year CD and a 7-year CD with either a 4.30% APY or 4.60% APY. Minimum deposit for the 40-month CD special is $5K. Minimum deposit for the other two CDs is $1K. These rates are listed in the bank's rate tables as of 6/14/09. Note, they have different rate tables for different areas. Most of the rates appear to be the same in all areas except for the 7-year CD. The rate is 4.60% APY in East Baton Rouge, Ascension, Lafourche and Terrebonne. It's 4.30% APY in St. Landry, St. Martin, St. Mary, Lafayette and Iberia. Refer to the bank's website for locations.
The bank has solid ratings for safety and soundness: 4 stars (excellent) at BauerFinancial (based on 3/31/09 data) and 4 stars (sound) at Bankrate.com (based on 12/31/08 data). The bank has been a member FDIC since 1934 (FDIC Certificate # 29028).
Thanks to the reader who mentioned this CD in the comments.
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