Dedicated to Deposits: Deals, Data, and Discussion

2.47% 17-Month CD at Security Savings Bank in Kansas

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Security Savings Bank FSB
Update 12/15/09: Security Savings Bank no longer offers CDs to customers outside their local market.

Update 12/05/09: Rates have changed. Please check the bank's website for the latest rates.

Security Savings Bank has a competitive 17-month CD and IRA CD special with a 2.47% APY. Their 7-month special is not quite as competitive with a 1.77% APY. Minimum deposit is $500. These rates are listed in the bank's rate table as of 7/30/09.

I contacted the bank today, and I was told that they can open a CD even for those out of state. They prefer that you call to open the account (1-800-323-8958) They'll need a signature card along with a copy of your ID. This can be done by mail or by fax. Update 12/15/09: Security Savings Bank no longer offers CDs to customers outside their local market.

Branches are located in the Kansas City Metro area, and in the Kansas cities of Wichita, McPherson and Salina. The bank has been FDIC insured since 1957 (FDIC Certificate # 30898).

The bank's 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 3/31/09 financial data. The bank has been a FDIC member since 1957 (FDIC Certificate # 30898).

Other High Certificate of Deposit Rates

  Tags: Kansas, Security Savings Bank FSB, CD rates, IRA rates

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Comments
6 Comments.
Comment #1 by Mitch (anonymous) posted on
Mitch
I had a long-term CD at this bank that matured about a year ago. Customer service was very good, as was the regularity of the ACH transfer of monthly interest to my local account. As I recall, opening the account did not entail problems; ditto for closing the account (when the rates were no longer competitive).

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Mitch, thanks for the info. Glad to see the good customer service.

1
Comment #3 by Anonymous posted on
Anonymous
My family and I have several CDs at this bank. The rates are competitive and the service is always very good.

1
Comment #4 by Shan (anonymous) posted on
Shan
Just contacted them today asking about their IRAs and they said, that they are unable to accept out of state deposits at this time.

1
Comment #5 by Craig (anonymous) posted on
Craig
Same status on 12/15. They do not open accounts for out-of-state clients. Per CSR, "it is too much of a risk to verify personal information and receive proper identification." Should be removed from available nationwide deals.

1
Comment #6 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. I've updated the post with this info. I'll make sure it gets removed from the nationwide lists/tables.

1