Mutual of Omaha Bank is offering two competitive CD specials: a 2.10% APY 16-month CD and a 3.00% APY 36-month CD. Minimum deposit is $2,500. The 16-month special requires a checking, savings or money market account. These specials are listed at the bank's rates page as of 8/26/09. This rates page is for Arizona. There are separate rates pages for the other states where it has branches. All of these other pages list these same rates for these two specials. The only difference is that some states have only a $1,000 minimum deposit requirement.
On the bank's CD page it makes it look like you may be able to open a CD by phone using their toll-free number 866.213.2112. However, I called yesterday, and the CSR said they require a branch visit. The CSR didn't know how much longer these specials would last. Rates are typically updated on Mondays. According to the CSR, the early withdrawal penalty is 3 months of interest for the 16-month CD and 6 months of interest for the 3-year CD. Any of the checking accounts will qualify to meet the 16-month relationship requirement. They do provide a free checking account with no monthly fees and only a $100 minimum opening deposit.
I was wondering how this bank acquired branches scattered across the U.S. As you can see in their news and announcements page they've bought up several banks including First Heritage Bank and First National Bank of Nevada which both failed in 2008. These gave them the branches in California, Nevada and Arizona.
Please refer to the bank's locations page to find a branch in Arizona, California, Colorado, Iowa, Nebraska, Nevada and Texas.
Mutual of Omaha Bank's ratings for safety and soundness are fair as of 3/31/09 financial data:
FDIC Certificate # 32325).
Other Competitive Certificate of Deposit Rates