US Bank has again come out with a special 59-month CD with a competitive rate of 4.00% APY. What they list on their website is only 3.75% APY. However, I noticed this 4.00% APY being advertised in this 7/19/09 SoCal ad. The CD is also available in an IRA. The small print of the ad states that the offer is valid in California branches only.
As I mentioned in this February post on US Bank CDs, US Bank has a harsh early withdrawal penalty which can be 29½ months of interest for this 59-month CD. The average long-term CD penalty is only around 6 months of interest.
US Bank has branches in several states including California, Arizona, Washington, Colorado, Illinois, Missouri and Ohio.
US Bank's ratings for safety and soundness are fair to good: 3½ stars (good) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 3/31/09 financial data.
US Bancorp is the holding company for US Bank N.A. and US Bank N.A North Dakota. Both banks have separate FDIC charters, but US Bank N.A is the main one for deposits with $175 billion in deposits. US Bank has been a FDIC member since 1934 (FDIC Certificate # 6548).
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