Dedicated to Deposits: Deals, Data, and Discussion

2.28% 12-Month CD and 1.81% Money Market Account at Gold Canyon Bank in Arizona - Local Only

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Gold Canyon Bank
Gold Canyon Bank continues to offer competitive rates on its CDs and money market account. The best CD deal is its 12-month term which has a 2.28% APY for a $10K minimum deposit. Also competitive are the 18-month CD with a 2.43% APY and a 2-year CD with a 2.69% APY. These have a $50K minimum deposit. The rates for a $10K minimum are 5 basis points lower. These rates are listed at the bank's rate table as of 7/27/09.

The money market account has tiered interest rates with a 1.81% APY for balances of $10K to $25K, a 1.87% APY for balances of $25K to $100K and 1.97% APY for balances from $100K to $250K. These rates are listed at the bank's rate table as of 7/27/09. These money market rates are down a little since my last post on this bank in May. Compared to other banks, the rate cuts have been modest.

It appears a branch visit is required to open an account. Branches are located in Gold Canyon and Peoria, Arizona which are in the suburbs of Phoenix.

The bank's ratings for safety and soundness haven't change since May. They continue to be a little weak: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 3/31/09 financial data. The bank has been a FDIC member since 2006 (FDIC Certificate # 58066).

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  Tags: money market accounts, Gold Canyon Bank, Arizona, CD rates

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Comments
Comment #1 by Anonymous posted on
Anonymous
Rates continue to plunge. Rate for $100K+ tier in the high yield money market account is down to 1.35%.

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