Dedicated to Deposits: Deals, Data, and Discussion

Competitive Rates Continue at United Cental Bank - Now Nationally Available


United Central Bank
Update 9/04/09: Rates have fallen. Global Money Market is now 1.65% APY $75K-$300K, 1.45% APY for $5K-$75K. Global Savings top rate is 1.05% APY.

United Central Bank continues to offer competitive rates on its money market accounts, its CDs and installment savings accounts. Some of the rates are down a bit since my May post, but they are still very competitive.

Here's a list of the APYs of some of the best deals as listed at the bank's rate table as of the morning of 6/23/09.
  • Global Money Market Account - 2.59% $75K-$300K, 2.39% $5K-$75K
  • Global Savings Account - 2.50% $50K+, 2.00% $25K-$50K
  • Super Saver Installment CD - 3.30% 1-year to 5-year
  • CDs - 2.40% 12-month, 2.15% 6-month
Note, CDs are also available in IRAs for terms of 12 months and longer.

I just noticed on their home page, that they now have an online application. I called the bank, and I confirmed that people in any state can open accounts using this online application. The CSR wasn't able to provide many details. She did say that for CDs, the rate will lock at the time the application is submitted. She wasn't sure of the options the application provides for funding. Mailing a check is an option, but she didn't know if electronic funding was also an option. She said once the application is submitted, they'll send an email with instructions.

When I reviewed the first part of the online application, it doesn't provide options for all of the accounts. Accounts that can be selected include the Global Money Market Account, the 12-month and 36-month CDs, and the 12-month IRA CD. The application has options for both permanent and non-permanent residents.

For those who prefer to open an account at a branch, they do have offices in many parts of the country. Branches are located in several cities in Texas, California, Georgia, Maryland and Virginia. Some of the major cities include Los Angeles, Austin, Houston and Dallas.

United Central Bank continues to have fair ratings for safety and soundness: 3.5 stars (good) at BauerFinancial (based on 3/31/09 data) and 3 stars (performing) at (based on 12/31/08 data). The bank has been a FDIC member since 1984 (FDIC Certificate # 25330).

Other High Rates

For other top savings, money market accounts, CDs and installment savings accounts, refer to the following pages:

Rate History:
9/04/09: Global Money Market is now 1.65% APY $75K-$300K, 1.45% APY for $5K-$75K. Global Savings top rate is 1.05% APY.
7/02/09: Global Money Market is now 2.15% APY for $75K-$300K, 1.95% for $5K-$75K. Global Savings top rate is 1.25% APY.

  Tags: California, Georgia, Texas, United Central Bank, money market accounts, Virginia, CD rates, Maryland, IRA rates

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Comment #1 by Anonymous posted on
I opened a CD at a United Central Bank branch about 3 weeks ago. They told me they give a .25% bonus on CDs for people who also have a checking account with them.

Comment #2 by Anonymous posted on
I tried to open the Fixed Rate Super Saver Installment CD, with the online application and it would not go through.
I then opened the online application for the Global Free Checking Account. This went through just fine with the $25 deposit taken out of my checking account electronically.
I figure when this United Central Bank checking account is opened and I receive the Account #, I will then try to open the Super Saver CD.
I was told I had to come into a branch to open this account.

Comment #3 by maggie (anonymous) posted on
Just FYI the 025% bonus is only for the people who have Global Supreme Checking with them, which needs $5,000.00 minimum to waive the monthly service charge($20.00).
I wonder dose anyone know if their free checking account comes with the first box of check free ?

Comment #4 by hamung (anonymous) posted on
thanks ,and sucses 4u

Comment #5 by Anonymous posted on
How can United Central Bank offer above average interest rates on their deposit products ? Are these minority banks subsidized by the Federal Government ?

Comment #6 by Anonymous posted on
Global Money Market is now 2.15% for $75K-$300K, 1.95% for $5K-$75K. Global Savings top rate is 1.25%.