Dedicated to Deposits: Deals, Data, and Discussion

2.53% 13-Month Add-On CD at Prime Pacific Bank in Washington State - Local Only

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Prime Pacific Bank is offering a special 13-month Add-on CD with a 2.53% APY. A checking account is required. Minimum deposit is $500, and there is no maximum deposit. Add-on deposits are allowed in increments of $500 without limit. This special doesn't seem to be listed at the bank's website. A reader emailed me info on this, and I just called for additional details. According to the CSR, the special was originally scheduled to last through July 17, 2009, but it could end at anytime.

A branch visit is required to open the accounts. The reader who emailed me news of this special said that it requires a visit to their new main branch at 2502 196th St SW; Lynnwood, WA. However, the CSR said that it may also be available at the other branches. If you're interested in this CD and if another branch is closer, I recommend calling that branch to confirm availability. In addition to Lynnwood, branches are located in Kenmore and Mill Creek.

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 1995 (FDIC Certificate # 34022).

Thanks to the reader who emailed me news of this CD special.

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  Tags: Washington, CD rates

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